Free Emergency Budget Guide 2010
On 22 June 2010, George Osborne MP, delivered the much awaited Emergency Budget designed at addressing the UK’s unsustainable public spending and national debt.
In spite of the political rhetoric from the opposition, the consuensus of UK economists believes that the budget was tough but fair, addressing the issues at hand whilst ensuring that those on lower incomes are somewhat protected from the tax increases.
Osbourne stated that 77% of the money to repay the spiralling national borrowing would come from public sector spending cuts and the other 23% from tax increases. Only time will tell whether or not public sector workers will ‘toe Osborne’s line’ with pay freezes imminent, hundreds of thousands of job losses on the horizon and possible pension cuts. We have already witnessed riots on the streets of Athens due to the Greek austerity measures; could we see the same outcome here?…… Let’s hope not.
Download or view our Free Emergency Budget Guide 2010 here