Pages: 1
UK Budget `Dire`
(Click here to view the original thread with full colors/images)
Posted by: forwardone
Cameron criticises 'dire' Budget
http://newsimg.bbc.co.uk/shared/img/o.gif http://newsimg.bbc.co.uk/media/imag...ron203cr_pa.jpg
Mr Cameron was responding to Alistair Darling's first Budget
http://newsimg.bbc.co.uk/nol/shared...dashed_line.gif
Conservative leader David Cameron has said the "cost of living is going up and Labour is making it worse". He said the "facts" Alistair Darling's first Budget could not hide were high debt, high interest rates, high taxes and lower growth.
He accused him of "a dire list of reviews and reannouncements" and said borrowing rates were "truly dreadful".
"In the years of plenty they put nothing aside, they didn't fix the roof when the sun was shining," he said.
The Conservative leader accused the chancellor and prime minister of living "in an entirely different world from everybody else".
Fiscal rules 'busted'
"For people, every time they refinance their mortgage, it's costing them more, every time they fill up their car they are paying more. Every time they shop, food bills are higher and yet every time they get a tax bill, they are paying more," he said.
"There was no recognition of that in this Budget. The cost of living is going up and Labour is making it worse."
http://newsimg.bbc.co.uk/shared/img/o.gif http://newsimg.bbc.co.uk/nol/shared...rt_quote_rb.gif This government and this prime minister took all the credit when the global economy was growing, but now there are difficulties they will not take any of the blame http://newsimg.bbc.co.uk/nol/shared...nd_quote_rb.gif
He said the trade deficit was set to rise to a record £72bn while the rate of investment was "slumping" by two thirds and debt as a share of GDP, if Northern Rock was included, was 43.8%, which Mr Cameron said would "bust" the chancellor's fiscal rules.
"High debt, high interest rates, high taxes -- and now lower growth. Those are the facts that this budget cannot hide," he said.
"They tell the story of just how badly prepared we are for the downturn."
'Disastrous start'
In his first Budget as chancellor, Alistair Darling said the UK was entering an uncertain period better placed other any other major economy.
But he said turbulence in global financial markets had affected all economies and said the credit crunch posed a major risk to the world economy.
Mr Cameron said: "This government and this prime minister took all the credit when the global economy was growing, but now there are difficulties they will not take any of the blame."
He accused the government of "dithering" over changes to capital gains tax, nationalising Northern Rock, an early general election and their plans for taxing "non-doms".
He said Mr Darling had had "the most disastrous start of any chancellor in modern history" but said it would not be fair to blame him.
"The chancellor was put in a hole by the prime minister and they both kept digging," he said.
He pointed out that the US was cutting taxes by 1% of national income and Sweden had a 2% budget surplus to help them out.
"In other countries they are debating what to do with their surpluses. In this country there is no debate because there is no surplus. In Britain we have got nothing, no room for manoeuvre on the deficit, no room for manoeuvre on interest rates and no room for manoeuvre on taxes."
Mr Cameron said people would ask why post offices and maternity units were closing, when they were paying more tax.
He said a Conservative government would pay green taxes into a family fund to help Britain's "hard-pressed families".
He also said they would cut the headline rate of capital gains tax and would target binge drinkers with tax rises "not every responsible drinker in this country who wants a glass of wine at the end of a hard day's work".
News.bbc