Despite some truly grim economic statistics, Chancellor George Osborne will attempt to deflect criticism for the failings of austerity economics in his Autumn Statement today, blaming the world economy and the last government.
George Osborne’s budget speech rang very hollow with people who aren’t feeling any evidence of economic recovery. And the recovery, such as it is, appears to be based mainly on consumer spending, which is puzzling when so many people are struggling to make ends meet. But there may be several factors contributing to this spending which should sound alarm bells.
After the election, the Conservatives and the Liberal Democrats got together and agreed on a programme of what they would actually do together in government. On taxes, they agreed their priorities were to make taxes simpler, fairer, greener and more competitive.
The budget announced by UK chancellor George Osborne has been widely reported as appealing to pensioners and savers. Some measures, such as pensioner bonds, will indeed help sizeable numbers of older people. Yet for many people over retirement age, it is will not be good news overall.
As of 9.45am on Thursday 20 March 2014, the day after the Chancellor’s Budget statement, these were the comments and responses from the Churches in Britain that we were able to discover. Further updates will follow through Ekklesia’s ongoing reporting, commentary and analysis: http://www.ekklesia.co.uk/budget2014