Wednesday, 8 July 2015

Balls to the Budget

Balls to the Budget 
(apparently #ballstothebudget if you want to comment, but I don't do Twitter)

Short one. Lets look at what the Office for Budget Resposibility said about the :

"Loosing the squeeze on public services spending funded by welfare cuts, net tax increases and three years of higher government borrowing - that is the budget verdict of the Office for Budget Responsibility.

"Day to day government spending would be £83.3bn higher over the current parliament than the coalition suggested in March. Tax cuts - mainly a decrease in corporation tax, a rise in income tax personal allowances and extending inheritance tax relief for main residences - would cost £24.6bn.

So we can clearly see that yet again spending on tax cuts, raising personal allowances, inheritance tax, doesn't even cover the cuts in social security spending, so obviously Gideon, you're going to have to do better than that!

Ah! I see (further down the Guardian's Live Blog):

"Welfare cuts raise £34.9 billion. These include a four-year freeze in the uprating of most working-age benefits, cuts in the generosity of tax credits and reduced work allowances in universal credit. The government will also force local authorities and housing associations to cut rents, thereby reducing the cost of housing benefit

So rather than the 'go slow' approach - more 'go slow' than the £12 billion of social security cuts first announced - rather Gideon has nearly tripled such cuts: nice one (except for anyone who is poor or disabled)! 

Courtesy of the Guardian Newspaper: (live link only available today). 

Chunky at Downing Street!:

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