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

by Calum Fuller

More from this author

05 Dec 2012

  • Comments
Ed Balls

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."

Visitor comments

blog comments powered by Disqus
display:none

Add your comment

We won't publish your address


By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

Submit
  • Send

Newsletters

Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials

Careers

Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you

Briefings

budget-management

Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.

cchcover

iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.