{"id":14861,"date":"2012-03-30T09:06:43","date_gmt":"2012-03-30T08:06:43","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=14861"},"modified":"2012-03-30T09:06:43","modified_gmt":"2012-03-30T08:06:43","slug":"finishing-off-the-tories-and-their-cuts","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/03\/30\/finishing-off-the-tories-and-their-cuts\/","title":{"rendered":"Finishing off the Tories and their cuts"},"content":{"rendered":"

The FT reports today<\/a>:<\/p>\n

George Osborne will challenge Labour to match a detailed\u00a0co\u00adalition programme\u00a0of cuts stretching into the middle of the next parliament in an attempt to \u201cfinish the job\u201d of eliminating the structural budget deficit by 2017.<\/p>\n

While the strategy will infuriate some Liberal Democrats, people familiar with the plan say it will underline their party\u2019s economic credentials and has the support of Nick Clegg. It will also force Ed Miliband, Labour leader, to spell out how a Labour government would deal with the deficit.<\/p><\/blockquote>\n

\u00a0Labour has no reason to respond. What it does when in office is not dictated by the Tories now.<\/div>\n
<\/div>\n
What it should also be saying is very simple. It has to say that the Tory cuts aren't working. Nor can they. They are wholly dependent on the assumption that if the government cuts then business will\u00a0invest\u00a0more. Duncan Weldon\u00a0showed<\/a>\u00a0that is simply a myth always assumed to be two years in the future, yesterday. That will be as true at the end of this parliament as now, excepot by then we'll know that the model has\u00a0definitely\u00a0not\u00a0worked.<\/div>\n
<\/div>\n
So labour's answer is that\u00a0whilst\u00a0it is committed to ensuring manageable debt that comes from\u00a0growing\u00a0the economy, sustainably.\u00a0And\u00a0if business will not do that then the\u00a0government\u00a0will have to do so.\u00a0Which\u00a0means it will be raising the money for\u00a0investment\u00a0to put people back to work which is the only way that the taxes can be raised to\u00a0rebalance\u00a0the UK's economic\u00a0equation; an equation that can never be resolved by cuts.<\/div>\n
<\/div>\n
What's sort of amusing about the Tory demand is that it hoists Osborne on his own petard.<\/div>\n","protected":false},"excerpt":{"rendered":"

The FT reports today: George Osborne will challenge Labour to match a detailed\u00a0co\u00adalition programme\u00a0of cuts stretching into the middle of the next parliament in an
 Read the full article…<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-14861","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/14861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=14861"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/14861\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=14861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=14861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=14861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}