Harman points to 'broken promises' after 'reckless' Government Budget

Natalie Kenway
clock • 1 min read

Harriet Harman, deputy leader of the Labour Party, has blasted the coalition Government's emergency Budget as "reckless" and says it will "pull the rug from the UK economy."

In response to George Osborne’s speech, Harman dubbed it the “Budget of broken promises” and “driven by ideology not economics”. Pointing to the rise in VAT from 17.5% to 20%, she says both the Tories and the Liberal Democrats pledged not to increase it during their election campaigns but have gone back on this promise in their first Budget. They justify this, she adds, by saying things are worse than they realised and comparing the UK’s situation to Greece, which she says is “no alibi for this Tory Budget”. The cuts in public spending and tax rises are bad for unemployment and, th...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on UK

ONS reports progress on labour force data collection but warns of more instability in estimates ahead
UK

ONS reports progress on labour force data collection but warns of more instability in estimates ahead

Amid Treasury and BoE concerns

Sorin Dojan
clock 03 December 2024 • 2 min read
BoE warns of rising sovereign debt impact on UK financial stability
UK

BoE warns of rising sovereign debt impact on UK financial stability

Financial Stability report

Sorin Dojan
clock 29 November 2024 • 2 min read
UK space sector deals skyrocket five-fold over course of a decade
UK

UK space sector deals skyrocket five-fold over course of a decade

Faster growth than UK economy

Linus Uhlig
clock 27 November 2024 • 2 min read
Trustpilot