Vince Cable – Osborne’s tax cut ‘fantasy’

Vince Cable, a voice we should all take note of on economic matters in my view, has warned that Treasury insiders are increasingly concerned that promises made by George Osborne to cut taxes by £7bn appear increasingly unaffordable.

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“When you look at the numbers, tax cuts on any significant scale are simply not deliverable unless you make horrific cuts to key public services such as the police and defence. Technically, of course, you can always make tax cuts, but if you are to avoid hitting services you would have to put up other taxes or cut services massively. It is total fantasy to suggest otherwise.”

Ignoring the man who widely predicted the economic collapse of 2007 when other politicians buried their heads in the sand is hardly wise. The Tories are either promising big tax cuts on the backs of the poor or they will ruin our economic recovery to deliver unfunded tax cuts because they are running scared of UKIP.

The Observer ran this story.

With thanks to the LGiU for the lead to this story.

What have the Lib Dems ever done for us?

With thanks to Cllr. Nigel Ashton for this posting

Over the last three years Liberal Democrats in Government have:

•given a £700 tax cut to more than 20 million working people and lifted nearly three million of the poorest workers out of paying income tax altogether
•helped businesses create more than a million jobs
•created a record 1.2 million apprenticeships
•given extra money for the children who need it the most through the £2.5billion pupil premium
•given generous rises in the state pension through our ‘triple lock’ now worth an extra £650 since Labour
•given the poorest two-year-olds and all three-and-four year-olds 15 hours of free childcare per week
•introducing equal marriage for all couples
•announced that all Reception, Year One and Year Two pupils in England will receive free school meals