Labour today unveiled a budget aimed at keeping public spending high, whilst hitting JOBS and the RECOVERY.
In a fantasy pre-budget report Chancellor Darling told a stunned house that our borrowings this year would be a minimum of £178 billion, £3billion at least, more that he forecast with many forecasters including myself expecting it to reach £200billion. Our economy will SHRINK THIS YEAR by a minimum of 4.75%, instead of the 3.5% that he forecast in the spring, so we can expect 5%. These are THE WORST FIGURES FOR OVER 300 YEARS, indeed since 1707 when the parliaments were unified.
NATIONAL INSURANCE CONTRIBUTIONS WILL RISE BY 0.5%, meaning that someone earning £7,000 will be paying tax and NIC of 44%, the HIGHEST RATE OF TAX SINCE 1844 AND THE REPEAL OF THE CORN LAWS.
NO, NO this budget will DO NOTHING TO BRING DOWN THE DEFICIT and will only HIT THE JOBS MARKET making the DOWNTURN WORSE FOR THOUSANDS OF HARD WORKING FAMILIES. THE BASTARDS! (Not the families, Labour)
