Monday, October 18, 2010
Tax, Tax, Tax and more Tax – typical Labour
In his first major speech after Ed Miliband made the surprise decision to give Mr Johnson the Treasury brief, he said Labour would raise more from taxes than planned by the Coalition. The Opposition is now advocating a percentage split between cuts and tax rises of 60-40, having previously committed to 70-30. George Osborne, the Chancellor, will go further when he announces this week that spending cuts will make up around 70 per cent of the savings needed to tackle the deficit.