The Ernst & Young Item Club claim that income tax rises to reduce the budget deficit should be delayed until 2007 due to the current poor state of the economy. Why should only those in work be relied upon to close this gap?
Can the workshy expect some benefit cuts as their 'contribution' towards closing this deficit!?!
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It's funny that they never thought about the possibility of not increasing public spending (even reducing public spending), or even slashing civil servants to proper levels, or getting a grip on public sector inflation which is three times that of private sector inflation.
It would seem that Labour is still incompetent when it comes to the economy... hold on tight, as we're heading for a very rough ride.
I totally agree. We are heading for a very rough ride. Labour's legacy will be that it inherited a strong economy and managed to destroy it in just over ten years.
I fear we will become the basket case of Europe again! Meanwhile Ruth Kelly is to announce that she is doing her bit to close the budget deficit by spending another £27m on books for children!!
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