Emergency Budget

Today has been a hectic day in Parliament with the Chancellor of the Exchequer making his Emergency Budget statement as to the measures that the Coalition Government will be taking to start to deal with the effects of years of Labour’s overspending. A budget comprising largely of spending reductions and tax increases is not what anyone would want but it is in the circumstances completely unavoidable and it must never be forgotten that the cuts announced today are Labour’s cuts. As a country we simply can not go on borrowing £1 out of every £4 the Government spends. I think that the scale of the problem is most starkly revealed on page 72 of The Red Book which sets out the detail of the Budget. Table B1 shows that in five years time even after all the measures announced today it is forecast our Country will still not be in a position to start repaying its debts. The forecast is that we will still have to borrow some £20 billion pounds a year to balance the books in 2015-2016. I must remember to remind those who constantly plead for more Government spending of this fact!

Published by David Nuttall

Business and Political Consultant

5 thoughts on “Emergency Budget

  1. Considering Bury will be hit harder than the average town by the cuts, do you really think it was necessary to complain in the House of Commons about the frozen civil list? On 24th June, you said “regrettably the civil list is to be frozen yet again.” Something tells me the Queen won’t be hit as hard as the rest of us by the budget cuts and I feel you should be far more concerned about your constituents. Along with your stance on fox hunting, it begs the question as to where your loyalties lie, to Bury North or to the Eton oligarchy?

  2. The only thing I see in my future is my benefit being cut in half for being too ill to go out to work due to having sudden blackouts that happen daily, along with that I am in constant pain with other medical problems too.

    I have tried all ways in which to beg for employment or help with self-employment set up from home so I can work safely around my disability. However, no matter who I speak to I cannot get any help.

    So to me this doesn’t seem very fair on the one hand I cannot get any help to work from home and on the other when it comes around to the spending review like the chancellor says he has got welfare benefits in his site. So it looks like I am going to get cuts in my benefit through no fault of my own.

    I just wish I could put my case towards someone who is designing these policies, as there is a fundamental flaw within this policy, it isn’t very fair when there isn’t any help out there.

    1. Hi Tanya,

      Thank-you for your comment. Eligibility will be a medical decision and I am sure all your complaints will be taken into account.


      1. That doesn’t answer my question about welfare benefits being cut in the spending review which is supposed to be coming out in October. I guess I will have to have many more sleepless nights worrying about what is going to happen.

        So basically I am genuinely not very well, I cannot get any support to try to work from home, yet I am going to get my benefit cut too. Which doesn’t sound fair to me.

        It is amazing though how the MPs and the Lords don’t have to have their pay and perks frozen themselves. I like many others really do think that those in government should lead by example However, hell is likely to freeze first.

        So basically, there is nothing new the rich will get richer and the poor will become poorer as per usual.

  3. Well done conservatives .
    This is the budget we needed .
    VAT is always fair .Everyone pays .
    Thank you for limiting the onslaught of Local Taxes on the minority.
    At last ,someone has had the guts to take the overwealfared to task.

    I am employed ,however,I applaud the help for business ,they need it to build jobs and wealth for us all .

    We all want good health care ,education and a safety net if things go wrong and this budget clearly confirms that in a period of adversity the government are looking to balance all genuine needs.

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