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‘Tax Banker Bonuses’ suggests Miliband

Labour leader Ed Miliband has suggested a tax on bonuses received by bankers as part of scheme to lift the UK out of our recession. Other factors of the plan include a temporary cut in VAT as well as more capital investment, which Miliband predicts will help to turn around the 0.7pc drop in GDP experienced within UK over the last quarter.

Miliband went on to condemn the current plan in place by the coalition Government: “Today’s the day we see the Governments economic plan has failed. They promised change. They promised people the pain they were inflicting would put the economy back on track. But month on month, year on year, we see things getting worse and not better”.

The 0.7pc drop in GDP is largely down to poor performance from the construction industry, which itself shrank by 5.2pc, hence Miliband’s call for more capital investment. Many have also blamed the extended weekend in celebration of the Queen’s Diamond Jubilee for a drop in the economy, but one thing that is certain is the people of the UK will want to see a turnaround in the figures come the autumn.

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