Over at the Daily Mail, Lib Dem deputy leader Vince Cable delivers his robust verdict on Alistair Darling’s 2009 budget. Here’s an excerpt:
I argued the main requirement was an honest statement, without spin, of the country’s problems. Darling was candid enough about the scale of the budget deficit – which will be a staggering 12 per cent of GDP this year and next, forcing the Government to borrow unprecedented sums to cover the collapse of revenue from financial services and the falling housing market. …
Darling was less honest about the prospects for recovery. He cheerfully assumed growth will return soon.
Today we got a pick and mix Budget of recycled announcements from a government skilled in raising people’s hopes but incompetent at actually delivering help.
“This Budget is a political supermarket sweep of random promises, without even a hint of a plan or any likelihood the promises will be put into practice. The biggest disappointment in this Budget is its failure to sort out Britain’s unfair tax system. To put money into people’s pockets to help them make it through this recession.
“Britain’s taxes are too heavy on those who can least afford it. And too easy to avoid for those who know how. The 50p rate will further encourage the very wealthy to avoid tax unless we tackle the unfair loopholes they exploit.
“The Liberal Democrats would get practical help to people who are struggling and cut the vast majority of people’s Income Tax bills by £700, paid for by taking aggressive action to clamp down on all the loopholes and exemptions that benefit the richest people and biggest businesses.
“We would take big choices about what government should and shouldn’t do. With a shocking deficit this year of £175bn we need a national debate about what the state can and cannot afford in the future. That is the responsible way – the honest way – to reduce spending in the years ahead and avoid painful higher taxes.
“But Labour is out of ideas and out of steam. Today they have condemned us to years of unemployment and a decade of debt. The country deserves something different.”
A video excerpt of Nick Clegg’s Commons response is below:
You can read the full text over at the party’s website HERE, or after the jump:
Chancellor Alastair Darling has just finishing delivering this year’s Budget (about 50 minutes in case you had a sweepstake). If you missed it, the BBC site has an at-a-glance round-up here, chief of which include:
> Economy forecast to shrink 3.5% in 2009
> Growth expected to pick up in 2010, expanding by 1.25%.
> Economy to grow by 3.5% annually from 2011
> Public borrowing to increase to £175bn this year
> Public spending to be cut from 1.1% next year to 0.7% in 2011-2012
> Income tax for those earning more than £150,000 to rise to 50% from April 2010
> Alcohol and
Over at the Daily Mail, Lib Dem deputy leader and shadow chancellor Vince Cable oultines his plans to get the British economy back on track. Here’s an excerpt:
What can the Government do in the Budget to help avert an unemployment crisis? The panicky VAT cut, designed to get consumers spending again, was not a success and very expensive for the Government.
It would be better now to redirect the remaining £8.5billion set aside to public works projects which provide jobs and leave taxpayers with a useful asset at the end of it.
The obvious priority is affordable housing. Private house building has
David Raw It appears that the lessons of 2010-15 have not been learned for people who weren’t around when all of that occurred, and as someone whose dad was involved in...
Nigel Jones The comments here are just the kind of discussion that should have taken place before considering any such announcement. When we debated FPC's planned program l...
Colin Brown I was a bit shocked to hear this. It struck me as a very poor idea. I understand it to be, actually, regressive in nature, nowhere near as progressive as it sou...
Nonconformistradical @expats
"I live in a semi rural Suffolk village with an hourly bus service"
Lucky you. Some of us have no regular bus services at all....
expats @Tristan Ward 23rd Sep '26 - 7:36pm..
The idea that Daily Telegraph readers are a viable source of future LD votes made me choke on my coffee.....
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