LABOUR LEADER Ed Miliband has ridiculed government claims that its 2011 Budget is about growth and recovery, saying that the UK economy is “down, down, down”.
In his response to the Budget announced earlier by chancellor George Osborne, which downgraded forecast for economic growth from 2.1% to 1.7% this year, Milliband said: “Growth is down this year and next year. It’s the same old Tories. It’s hurting but not working.”
In a speech laced with sarcasm over government attempts to blame heavy snow late last year for a contraction in the UK economy in the fourth quarter of 2010, Milliband said that the slowdown was because the government was going “to far, too fast” in its plan to eradicate the budget deficit by 2015.
Miliband compared Osborne to former conservative chancellor Norman Lamont (“he’s Norman Lamont with an iPod”), who he said was indifferent to the social damage caused by rising unemployment in the recession of the early 1990s.
Follow the Budget as it happens at accountancyage.com/tag/budget
(Picture © Department of Energy ad Climate Change)
Richard Asquith of Avalara looks at the non-tariff barriers the UK will face when selling into the EU post-Brexit
Vernon Dennis of Howard Kennedy LLP explores recent and future challenges faced by the insolvency sector
Report argues that the government must change the way it makes tax and budget decisions
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit