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Tory Budget a direct assault on the needy and the vulnerable says Vince Cable

Tue, 22 Jun 2010

"This is exactly the slash-and-burn Tory budget we warned about during the election campaign, with tax cuts for George Osborne's corporate friends and a direct assault on the most needy and vulnerable, especially those looking for work or with young families," the Liberal Democrat Shadow Chancellor said.

Commenting on today's budget, Liberal Democrat Shadow Chancellor Vince Cable said:

"Today's budget demonstrates only too clearly the dire consequences of the Tories having won a narrow overall majority in last month's election. They've moved immediately to support their chums in the City with a cut in corporation tax, and they're leaving the rest of us to pick up the tab. 

Liberal Democrats had warned throughout the campaign that George Osborne had a £13.4bn VAT bombshell lurking in his back pocket, but we were accused of scare-mongering. It's now clear how right we were, and what the truly regressive price of an outright Tory victory would be for Britain.

And the worst is yet to come. Every single department faces early 25% cuts, pure fiscal illiteracy at a point where the economy is still so fragile. Again, we argued that cutting too soon would strangle change, and that's now what we face as George Osborne and his Chief Secretary sharpen their axes.

This ideological savagery will not be forgotten by the British people. When the last Tory government was run out of office they stayed there for more than a decade. This Budget is more brutal even than those put forward by Margaret Thatcher's Chancellors in the 1980s. In 2015, if not before, this government will not just be removed, it'll be shredded."


Why must all political battles and debates yield only more taxes?

The tax cuts are about to take affect. it might be 2 years since your blog but everything that you have said came true. the Torys have halted the recovery and sent the country back to a ression.

The Tory rules of let the market maintain itself is destroying the chance of reovery in the next 5 years never mind in the last 3 years of their Govt.

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This page was published on June 23, 2010 10:07 AM.

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