Socialist Worker

Budget packed with perks for bosses

Issue No. 2245

The Tories are relaxing planning regulations. Their claims of being the “greenest government ever” are an excuse to throw extra money at the nuclear industry.

And they ditched environmental targets on house building on the way.

They say there is no money for public services. But Osborne managed to find money from “reserves” to fund the military assault on Libya.

lOsborne’s own figures show the cuts are wrecking the economy. The government predicts economic growth for 2011 will be down from 2.1 percent to 1.7 percent.

Even the government’s own Office of Budget Responsibility predicts that unemployment will be higher than expected this year.

The plan to merge National Insurance and income tax into one payment is ideological.

It’s meant to break the idea that money put aside from wages is meant to pay for services and pensions.

Research by the Institute for Fiscal Studies estimates that from 2008 to 2011 real household incomes fell by 1.6 percent—that’s £360 a year. Households are likely to be about 6 percent worse off.

Figure it out

£120 Osborne’s supposed ‘tax cut’ for the poor

£310 Cost per adult of the Tories’ VAT rise

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