Business leaders back George Osborne
For many months George Osborne has been seen as the lame duck in the Conservative party although his announcement yesterday of a partial reduction in the UK government's planned increase in national insurance has gone down very well. Indeed this morning a letter signed by 20 of the U.K.'s top business leaders has been published which offers unreserved support to George Osborne and his move to reduce the national insurance burden on those earning under £35,000 a year.
This comes despite Alistair Darling suggesting that George Osborne is taking a "terrible risk" and would appear to suggest that the business arena is starting to move towards the Conservative party. When you also take into account the fact that Sir Stuart Rose and Paul Walsh, two of the U.K.'s more prominent business leaders and also economic advisers to the UK government, have signed this letter it is a bitter blow for Gordon Brown.
The increase in national insurance announced by Alistair Darling was always going to be the weak point in his recent fiscal changes and at this moment in time the Conservative party appears to have maximised the potential again with yesterday's move. How will the UK government respond to this very clever and very tactical move by the Conservative party?
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