LABOUR LEADER Ed Miliband has ridiculed government claims that its 2011 Budget is about growth and recovery, saying that the UK economy is “down, down, down”.
In his response to the Budget announced earlier by chancellor George Osborne, which downgraded forecast for economic growth from 2.1% to 1.7% this year, Milliband said: “Growth is down this year and next year. It’s the same old Tories. It’s hurting but not working.”
In a speech laced with sarcasm over government attempts to blame heavy snow late last year for a contraction in the UK economy in the fourth quarter of 2010, Milliband said that the slowdown was because the government was going “to far, too fast” in its plan to eradicate the budget deficit by 2015.
Miliband compared Osborne to former conservative chancellor Norman Lamont (“he’s Norman Lamont with an iPod”), who he said was indifferent to the social damage caused by rising unemployment in the recession of the early 1990s.
Follow the Budget as it happens at accountancyage.com/tag/budget
(Picture © Department of Energy ad Climate Change)
MPs should be given the right to veto the appointment or dismissal of the senior leadership of the Office of Tax Simplification, the influential Treasury Select Committee has said
Brexit is creating jobs but in all the wrong departments, muses Colin
The current business rates system is over-complex and reform is needed, but reforms should focus first of all on simplifying the appeals process, particularly for businesses which are subject to business rates exemption
David Gauke promoted to chief secretary to the treasury as accountants get top roles in Theresa May's new look cabinet