Gordon Brown attacks Tory policy on budget deficit
Despite the fact that the UK budget deficit is set to hit £178 billion for the current tax year Gordon Brown seems adamant that his government's spend, spend, spend policy must continue for the foreseeable future. He has today drawn the battle lines for the forthcoming election with suggestion that a premature reduction in spending by the Tory party could tip the UK economy back into recession.
As David Cameron continues to attack the government's record on spending and investment in UK, it seems we have two very diverse policies regarding the budget deficit. While it has to be said that each argument has certain justifications and certain elements of truth to them, the fact is that the UK taxpayer can ill afford further massive investment into the UK economy for the foreseeable future. UK national debt is already over £1 trillion and set to increase for at least the next two years as the budget deficit continues to grab centre stage.
There is no doubt that the performance of the UK economy will be the focal point of the forthcoming election and many people believe Gordon Brown will find it difficult to justify his various decisions from his days in the Treasury to his days in the hot seat.
Share this..
Related stories
Budget Headlines : Companies able to reclaim tax on past profits
Companies able to reclaim tax on past profits...
Read MoreHow do you know that you are paying the correct income tax?
Today's revelation that hundreds of thousands of workers in the UK have received incorrect tax codes for the 2010/11 tax year will have shocked many people. The vast majority of us automatically assume that the information which the revenue sends to our employers and ourselves is correct and does not need to be reviewed or checked. However, how can you be so sure this is the case? While there h...
Read MoreAlistair Darling admits that banking super tax has failed
Former Chancellor of the Exchequer Alastair Darling has this week delivered a speech suggesting that his "banking super tax" which was supposed to hit those receiving bonuses in excess of £25,000 a year has effectively failed. He believes that due to the very loose wording of the regulations it was particularly easy for many of the high profile financial companies to potentially delay any payment...
Read MoreGordon Brown backs plans to publish banking remuneration figures
Gordon Brown has today backed plans to force banks in the UK to reveal the remuneration packages of their top traders outside of the board of directors. The move is designed to inject greater transparency into the UK financial sector and also ensure that shareholders receive better value for money. But will this actually make it to UK law?
Despite the fact that Gordon Brown and the...
George Osborne to take 1 million people out of income tax bracket
George Osborne will today announce an increase in personal allowances which will take around 1 million people out of the income tax bracket. This is a move purely and simply designed to assist low income families in the UK as he continues his strategy of "making the rich pay". So will this work? While on the surface, taking nearly 1 million people out of income tax brackets is always a good mov...
Read More