Our economy is sick and the Government's medicine is not working. We were told that short-term pain would deliver long-term gain, yet all we see are nasty side-effects with no sign of a cure.
What is worse is that we now seem to be locked into a vicious downward spiral of cuts. They are not working so the Government cuts even more.
– New TUC chief Frances O'Grady
Reducing the living standards of some of the poorest and most vulnerable in society, while attempting to tar them all as scroungers, is perhaps the very definition of a party determined to be seen as nasty and, what is more, it will further depress demand and slow the economy.
People on the breadline spend every penny of their income, and mainly spend it in the local economy, while those who will benefit from the cut in the 50p tax rate coming this year are as likely to save it or take it offshore.