Link: Budget special
Increase tax and borrowing meant, he said ‘paying more today and paying more tomorrow’. He also said that the national insurance increase was an £8bn tax on jobs that would mean more job losses.
Smith also hit out at pension reforms which have made inroads into pension funds. He claimed that since Labour took over power in 1997 the amount of income someone would expect to receive from their pension has fallen by half.
IDS also said the British Retail Consortium announced one in five companies had cut jobs as a result of the tax hikes.
He said insolvencies were at their worst level for a decade.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements