AS2012: Coalition growth plans are “slowest recovery in 100 years” – Balls
George Osborne's fiscal policy "completely derailed", says the shadow chancellor
George Osborne's fiscal policy "completely derailed", says the shadow chancellor
GEORGE OSBORNE has seen his fiscal strategy “completely derailed”, according to shadow chancellor Ed Balls.
The chancellor has presided over a “flatlining” UK economy since 2010, ensuring the recovery following the “worst recession since World War II” has been the “slowest in 100 years”, he said.
Balls (pictured) criticised Osborne for borrowing more “this year, next year and the year after” and not meeting his promise to balance the country’s books by 2015.
He added national debt would be higher by the end of this parliament and branded the statement “a wasted opportunity”.
Balls complained about a tax cut for the rich while the poor are suffering.
Reeves & Co tax partner Geraint Jones said: “It was surprising that tax cuts were given to higher and additional rate payers, but it should be borne in mind that government figures indicate that from 2014, there will be a real increase in the level of tax paid by additional rate and higher rate taxpayers.”
More about:
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceColin makes a wry observation on where the Treasury gets it's Brexit figures Read More...
View articleGeroge Osborne and Alistair Darling will today warn that the Treasury would be forced to unveil an emergency Budget to fill £30bn black hole if UK vot...
View articleA thorough government review into the efficiency of HMRC is badly needed, the president of the ATT has claimed Read More...
View articlePanama Papers anonymous whistleblower 'John Doe' reaches out to government authorities, and has called on global powers to 'end financial secrecy' Rea...
View articlePrime minister set to make announcement on companies which encourage tax evasion, while he launches joint taskforce with HMRC to deal with Panama Pape...
View articleEntrepreneur's relief, lifetime ISAs and Class 2 NICs: All appeared on the chancellor's radar in the Budget 2016 Read More...
View articleHMRC terminates bonus scheme used by major banks to avoid PAYE and NIC payments, and is now on the hunt for an additional £30m in avoided tax Read Mor...
View articleIntroduction of quarterly digital tax accounts for small businesses and self-employed gets parliamentary hearing Read More...
View article