AS2012: Coalition growth plans are “slowest recovery in 100 years” – Balls

AS2012: Coalition growth plans are “slowest recovery in 100 years” – Balls

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.”

Share

Subscribe to get your daily business insights

Resources & Whitepapers

Why Professional Services Firms Should Ditch Folders and Embrace Metadata
Professional Services

Why Professional Services Firms Should Ditch Folders and Embrace Metadata

3y

Why Professional Services Firms Should Ditch Folde...

In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...

View resource
2 Vital keys to Remaining Competitive for Professional Services Firms

2 Vital keys to Remaining Competitive for Professional Services Firms

3y

2 Vital keys to Remaining Competitive for Professi...

In 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 resource
Turn Accounts Payable into a value-engine
Accounting Firms

Turn Accounts Payable into a value-engine

3y

Turn Accounts Payable into a value-engine

In 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 resource
Digital Links: A guide to MTD in 2021
Making Tax Digital

Digital Links: A guide to MTD in 2021

3y

Digital Links: A guide to MTD in 2021

The 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 resource