BusinessCompany NewsBUDGET 2002: Tories condemn silent chancellor

BUDGET 2002: Tories condemn silent chancellor

Conservative party leader Iain Duncan Smith has attacked Gordon Brown for failing to mention in his speech a series of measures outlined in today's Treasury red book.

Duncan Smith said Brown had failed to point out that, according to the Red Book, the country would be running a deficit for the first time in four years and that manufacturing productivity had fallen back.

The Tory leader also said that while the chancellor had talked up the UK’s performance, the Red Book proved it had ‘fallen behind again’.

Accusing Brown of failing to announce to the Commons past measures like IR35, he said: ‘This is a chancellor who has turned small print into a fine art.’

Duncan Smith added that by raising national insurance by 1% the chancellor had broken an election pledge not to hike income-based taxes.

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