Osborne: Red Book a work of fiction
Shadow chancellor says Budget assumptions misleading
Shadow chancellor says Budget assumptions misleading
Tory shadow chancellor George Osborne has said the Red Book, the document
which contains all the economic assumptions for the UK Budget, is not to be
trusted.
In an interview for with the
Financial
Times today, Osborne said: “The Red Book is largely a work of fiction.
” The FT reports the would-be chancellor saying the book contains over
optimistic growth forecasts and hidden liabilities arising from the pensions and
the public finance initative.
Earlier this year Accountancy Age reported a study which claimed
there could be up to
£32bn
of PFI liabilities off the government’s balance sheet.
The interview also revealed Osborne at odds with Bank of Governor Mervyn King
who has been reported saying that whoever wins the election will have to make
such swingeing cuts that they could end up out of power for a generation.
Osborne is quoted saying “it will be tough” but he was in public life to make
things better for people.
Read more:
The numbers you crunch tell a story. Your expertis...
14yEmbracing user-friendly AP systems can turn the tide, streamlining workflows, enhancing compliance, and opening doors to early payment discounts. Read...
View articleOrganisations can enhance their financial operations' efficiency, accuracy, and responsiveness by adopting platforms that offer them self-service cust...
View articleIn 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 resourceDiscover how AP dashboards can transform your business by enhancing efficiency and accuracy in tracking key metrics, as revealed by the latest insight...
View articleAs we get closer to the Budget and there is talk of public spending reduction to fund his proposals, we think a cut by the Chancellor to the headline ...
View articleTechnology industry leaders are pressing the government for substantial investment to prepare the next generation with essential digital and AI skills...
View articleUK Chancellor Jeremy Hunt has hinted at the possibility of further tax cuts in the upcoming spring Budget, during his time at the World Economic Forum...
View articleEffective corporate reporting on sustainability will prevent greenwashing issues and deliver more data for better implementation of climate policies R...
View articleCGT receipts have increased by over 100% in the past five years and reached a record level of £18bn in the last year alone, and a further 18% increase...
View articleThe Office for National Statistics reported that inflation in the UK dropped to 7.9% in June Read More...
View articleAccording to the senior Conservative, the Tory party must have one eye on the next general election in deciding the future of the off-payroll working ...
View article23% of business owners having hastened their plans to either sell or wind down their businesses Read More...
View article