Budget 2013: I'll tackle the economy's problems head on, says Osborne (From Bournemouth Echo)
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Budget 2013: I'll tackle the economy's problems head on, says Osborne
9:26am Wednesday 20th March 2013 in News
Budget 2013: I'll tackle the economy's problems head on, says Osborne
CHANCELLOR George Osborne this morning promised “a Budget that tackles the economy's problems head-on, helping those who want to work hard and get on”.
His pledge came in the Chancellor's first message on Twitter, issued on the morning of a Budget day taking place against a grim economic backdrop, with Labour pressing him to admit his austerity programme has failed.
Today I'll present a Budget that tackles the economy's problems head on helping those who want to work hard & get on twitter.com/George_Osborne…
— George Osborne (@George_Osborne) March 20, 2013
Mr Osborne is expected to offer help to hard-pressed families by speeding up progress towards a £10,000 tax-free personal allowance.
Expectations are high that he will delay or even scrap a fuel duty hike scheduled for the autumn and abolish the so-called beer tax escalator.
But the financial package is set to be dominated by questions of how to revive the ailing economy, with the Office for Budget Responsibility (OBR) likely to downgrade growth forecasts and predict sharply higher borrowing.
Mr Osborne has already signalled that a fresh round of cuts will be imposed on some Whitehall departments over the next two years to free up £2.5 billion for extra spending on housing and other infrastructure.
Today Labour leader Ed Miliband said it was time for the Chancellor to admit that a “change of course” is needed to inject growth into the economy.
“What I want to hear from the Chancellor today is a willingness to change course, not more of the same.
“His economic plan is failing. It's failing Britain's businesses and Britain's families,” he said.
Mike Clark, Dorset Chamber of Commerce and Industry president, said: “As DCCI President I would really like to see the Chancellor recognise the work of the chamber movement by increasing the involvement of the network in services currently run through the public sector and from a business perspective, reduce employers' NI, the tax on jobs.”
Steve Bennett, Poole-based Wyvern Cargo's finance director, said that measures to stimulate investment by industry in the industrial infrastructure were key to Britain's economic recovery.
Follow our live coverage from 11am, when we will be reporting the speech as it happens and getting reaction from the Dorset public and businesses.
Comments(9)
jobsworthwatch
says...
9:49am Wed 20 Mar 13
radical wrote:And all to prop up the only growth industry in this country for the last 3 decades.... jobsworths and civil servants!
Part of todays problems are that no one has got any income left to spend after being taxed to death where ever we go or whatever we buy.
Fuel duty, utility bills, council tax, vat are just a few of extortionate rises we have all had to suffer while wages stagnate, he cant keep dipping into our pockets and then complain that the economy is failing.
No doubt this budget will be the same as all others, give with one hand and take away with the other, which makes the whole budget experience a complete waste of time.
l'anglais
says...
10:17am Wed 20 Mar 13
radical wrote:The point you are missing is that for the past 30 years, there has been a reduction in revenue from the industries that were privatised or abandoned under the tories in the eighties.
Part of todays problems are that no one has got any income left to spend after being taxed to death where ever we go or whatever we buy.
Fuel duty, utility bills, council tax, vat are just a few of extortionate rises we have all had to suffer while wages stagnate, he cant keep dipping into our pockets and then complain that the economy is failing.
No doubt this budget will be the same as all others, give with one hand and take away with the other, which makes the whole budget experience a complete waste of time.
Imagine if the current profits of the water companies and energy companies went to the national exchequer rather than private shareholders.
Equally, how much revenue has been lost to local councils since the selling off of its social housing stock in the eighties.
People moan about Gordon Brown selling off the gold reserves, what about the other national assets flogged off under dear old Maggie the milk snatcher.
radical
says...
10:35am Wed 20 Mar 13
l'anglais wrote:I agree totally with your statement but on the other side of the coin successive governments have heavily taxed certain items to raise revenue.
radical wrote:The point you are missing is that for the past 30 years, there has been a reduction in revenue from the industries that were privatised or abandoned under the tories in the eighties.
Part of todays problems are that no one has got any income left to spend after being taxed to death where ever we go or whatever we buy.
Fuel duty, utility bills, council tax, vat are just a few of extortionate rises we have all had to suffer while wages stagnate, he cant keep dipping into our pockets and then complain that the economy is failing.
No doubt this budget will be the same as all others, give with one hand and take away with the other, which makes the whole budget experience a complete waste of time.
Imagine if the current profits of the water companies and energy companies went to the national exchequer rather than private shareholders.
Equally, how much revenue has been lost to local councils since the selling off of its social housing stock in the eighties.
People moan about Gordon Brown selling off the gold reserves, what about the other national assets flogged off under dear old Maggie the milk snatcher.
Every budget you can rely on any chancellor to increase duty on fags, petrol/diesel and booze, their excuse for doing this is to stop us from smoking, drinking and driving for health reasons.
If the above is true and we all cut done extensively on all three of these items where will the revenue lost come from.
Its well documented that smokers are in the minority these days, millions in tax lost there, the chancellor moaned earlier in the year that taxes from fuel duty had decreased by 2 billion quid, pubs are shutting in their droves and booze sales are down because of smuggling as well as cigarette smugglers.
If the pretense was to dissuade us fro indulging in all three of the above which seems to have worked to a certain extent who will make up the millions lost from these revenues.
So to add the losses that you suggest to the billions lost from my analogy is it any wonder this country is going the way of the dodo.
No government can keep
increasing the tax take from and already skint population.
The only way to get this country moving is to put money into peoples pockets which will give them back some buying power which will increase the tax take to the government .
Paying for parents to take their kids to pre schools is not the answer, if people want kids let them look after them instead of forcing the tax payer to fund their schooling.
Money in pockets gives spending power, unless people have money to spend this country will stagnate like rotting fish.
Old Colonial
says...
10:46am Wed 20 Mar 13
whatever66
says...
10:51am Wed 20 Mar 13
radical
says...
10:53am Wed 20 Mar 13
whatever66 wrote:Think you'll find that it was the bankers and Gordon Brown that did this.
What we need is them to call for a Motion of no confidence vote and get the cowboy who has inflicted this mess upon us out of Parliament.
skydriver
says...
11:59am Wed 20 Mar 13
mr commonsense
says...
12:47pm Wed 20 Mar 13
Or perhaps you mean Messrs Milliband and Balls who got us in the mess in the first place?
radical says...
9:38am Wed 20 Mar 13
Fuel duty, utility bills, council tax, vat are just a few of extortionate rises we have all had to suffer while wages stagnate, he cant keep dipping into our pockets and then complain that the economy is failing.
No doubt this budget will be the same as all others, give with one hand and take away with the other, which makes the whole budget experience a complete waste of time.