View more on these topics

Labour call on Chancellor to rethink austerity plan

Labour have called on Chancellor George Osborne to rethink the speed and scale of his deficit reduction plan ahead of tomorrow’s Budget.

Osborne has ruled out any further tax increases or spending cuts in tomorrow’s Budget but Shadow Treasury chief secretary Angela Eagle says those already in place risk derailing the economy.

She says: “George Osborne needs to snap out of his denial and rethink the speed and scale of cuts and tax rises which are hitting families hard in the pocket and derailing our economic recovery.”

“He needs to think again and get a plan B which puts jobs and growth first, before it is too late.”

Speaking on the Andrew Marr programme on Sunday Osborne said the measure in the Budget last year were an economic “rescue mission”.

Eagle says: “Osborne’s claim to have mounted a rescue mission on the British economy shows just how out of touch he is with what is happening in the real world.

“His reckless plan to cut too deep too fast has taken a growing economy with falling unemployment and delivered an economy which shrank at the end of last year, a 17 year high in unemployment and rising inflation.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com