Tory party force government to debate pre-election report
The Tory party has had a significant success today in the Houses of Parliament after they forced the Speaker of the house to order Labour to hold a debate on the pre-budget report prior to the introduction of the VAT reduction on 1 December. This is an important victory for the Tory party as it ensures the bad economic news announced yesterday remains headline news for sometime yet.
The three-hour debate will probably be held this week and allow all parties to put forward their comments and suggestions which are sure to put the Chancellor of the Exchequer in yet more difficult situations. The debate will also give the opposition the chance to question the Treasury on plans to increase VAT to 18.5% after the next general election and why these were not released with yesterday's pre-budget report.
This debate has the makings of one of the most volatile and controversial debates in the Houses of Parliament for sometime. The government is currently there to be shot at although Alistair Darling and Gordon Brown are more than capable of fighting their own corner. Who will return victorious from the debate remains to be seen but this could change the direction of recent opinion polls.
Share this..
Related stories
Monitor your electricity usage to reduce your bills
Over the last few months we have seen an increase in the number of electricity monitoring devices which allow you to see at a glance how much electricity you're using at any point in any day. There's also the ability to compare and contrast your current electricity usage with that of one week ago, one month ago or one year ago which will give you an indication of how much you are spending and what...
Read MoreBank shares down on fears for the future
The UK banking sector has today come under pressure on fears regarding the future of Lloyds bank and Royal Bank of Scotland. Despite signs earlier last week that the situation was improving at these two banks in particular, the revelation over the weekend that Lloyds bank may look to raise up to £15 billion in the market place and a downbeat statement by the Royal Bank of Scotland has made many i...
Read MoreWho will win the battle of the taxes?
As both Gordon Brown and David Cameron set out their thoughts on the future with regard to taxation levels in the UK this is turning into something of a battleground with the winner set to take all. There seems to be a growing consensus that tax cuts or at the very least adjustments to current tax allowances are required to put more money in the consumer's pocket and try to stimulate the economy.<...
Read MoreUnemployment hits the young in the UK
Official statistics from the UK government show that one in three people aged between 16 and 18 are now out of work as a consequence of the UK recession. Even though the figure of 2.44 million unemployed in the UK has been a hammer blow to the economy, the growing number of youngsters out of work does not bode well for future.
While the rate of unemployment varies significantly arou...
Authorities looking at alternative to taxpayer bailout
Governments and regulators around the world are set to discuss future banking bailouts which will not depend upon taxpayer money to support the system. When you consider that the UK banking bailout alone has literally cost hundreds of billions of pounds there is a need to put safeguards in place to cover any similar situations in the future. But what are the options? The UK government has stepp...
Read More