George Osborne on Labour's Empty budget
George Osborne writes:
"Now we know that Labour have no new ideas, no energy and no plans to get the economy moving.
"There was nothing in this Budget except political positioning. No credible plan to deal with the debt. No serious plan to boost growth. All the spending decisions have been put off until after the election, and all the big tax rises concealed in the small print.
"The only new policies were ones stolen from the Conservatives - like the stamp duty cut and new university places. It was the day Labour were found out.
"It's clear that only the Conservatives have the energy, leadership and ideas to Get Britain Working."
George Osborne
"Now we know that Labour have no new ideas, no energy and no plans to get the economy moving.
"There was nothing in this Budget except political positioning. No credible plan to deal with the debt. No serious plan to boost growth. All the spending decisions have been put off until after the election, and all the big tax rises concealed in the small print.
"The only new policies were ones stolen from the Conservatives - like the stamp duty cut and new university places. It was the day Labour were found out.
"It's clear that only the Conservatives have the energy, leadership and ideas to Get Britain Working."
George Osborne
Comments
1% on employers National Insurance will cost businesses and jeopardise jobs. How can this secure the recovery or encourage investment. What sustainable recovery?
Anyone earning £20,000 plus will pay more national insurance and income tax allowances have been frozen and will not rise with inflation. This not only hits 'middle England', but your average blue collar worker in the wallet. Every working family will pay the bill for Labour's economic mistakes.
Freezing inheritance tax will not just hit the very rich due to the increased value of property. It will mean that hard working ordinary people whose capital is tied up in their homes will be taxed. In some cases resident beneficiaries will be deprived of their homes, as the family home will have to be sold.
A tax on fuel will mean the cost of living will rise across the board for everything.
No Quango cutting promised to decrease the deficit. Labour still fail to tackle the waste, excessive spending and bureaucratic red tape. The £19 billion tax grab will not prevent the Government's debt rising to £1.4 trillion. The cost of borrowing increases by the second on the compound interest. The result will raise the cost of borrowing countrywide.
The City was already wobbling. Around midday budget day. The gilt market crashed and investors around the world sold Government bonds, pulling money out of Britain, because the risk is too great.
Be warned. This is just a hint at what will happen if Labour win the next election. The markets have sent out there signal and cast their vote. It will soon be time for the electorate to cast theirs.