Today’s budget is a savage attack on working people and provides tax cuts for the bankers and big business.
Only two months after the Tories said they didn’t need to raise VAT they have hiked it to 20 per cent, hitting the most vulnerable in society the hardest, but will cut corporation tax year on year.
The top ten percent of earners pay only £1 out of every £25 of their income on VAT, but the poorest are hit for £1 of every £7 they earn, and that is unacceptable.
A public-sector pay freeze and savage welfare cuts will add to unemployment and cause massive hardship, and could well throw us back into recession.
The government should have closed the loopholes that result in the wealthy getting away with £125 billion in unpaid tax.
People who voted Liberal Democrat to keep out the Tories and their vicious cuts have been duped – now they’re in the government the Lib Dems are gung-ho for cuts they condemned only two months ago.
For the key facts visit the BBC website. For other Labour responses to the budget, visit the Labour Lists website, the Left Economics Advisory Panel’s website, the LRC website, Sarah Evans Labour’s website, and of course the Labour Party’s article: The Tories, Family Butchers since 1679, Fresh Cuts in Store For You, available on the website.