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Treasury 'can't be trusted' on EU

John Redwood said the Treasury Credit: PA

Claims that a vote to leave the European Union would leave British households £4,300 worse off in 15 years time are "wrong".

Chancellor George Osborne said on Sunday night that each household in the UK would suffer financially if Britain votes in favour of Brexit on June 23.

The claims are part of a wider piece of work by the Treasury on the cost of leaving the EU.

But Leave campaigner John Redwood MP said the Treasury's judgement on the EU "should not be trusted".

"The Prime Minister was one of the senior advisers working in the Treasury while John Major's Government tried to keep this country in the EU's disastrous Exchange Rate Mechanism", he said.

'The ERM destroyed jobs and caused misery for families across the country.

'The Remainers were wrong then, and they are wrong now - people should not trust their judgement on the EU".


SNP childcare plans 'leave 21,000 job shortfall'

Plans by the Scottish government to get more women into work by providing free childcare involve "wishful thinking" in their costing, the Treasury has said.

The SNP has pledged to provide all three and four-year-olds, and vulnerable two-year-olds, with 1,140 hours of childcare per year by 2020.

It estimates that the policy could result in about 104,000 women entering employment and an additional £700 million in tax revenue which would help pay for the additional childcare.

But Treasury analysts said of the mothers affect by the policy only around 83,000 are not employed.

Even if every mother out of work moved into work - in itself highly unlikely - there would still be a shortfall of 21,000.

– Treasury analysts

A spokesman for Scotland's Finance Secretary John Swinney said:

In terms of our childcare commitments and boosting the number of women in work, it is our commitment to stop wasting money on Trident and on contributing to the running costs of Westminster that gives us the ability to invest in these other priorities.

– A spokesman for Scotland's Finance Secretary John Swinney

Scottish independence childcare plans 'don't add up'

Childcare proposals for an independent Scotland aren't financially sound, according to analysts at the Treasury.

The SNP estimates that the policy could mean enough women enter work to add £700 million in extra tax revenue. Credit: PA

The Scottish Government has pledged to provide widespread childcare, and estimates that the policy could result in about 104,000 women entering employment.

But as part of analysis of the fiscal implications of a Yes vote in the referendum, the Treasury says this number will be significantly lower.

The Treasury's analysis comes after a paper by the Scottish Parliament Information Centre (Spice) published in April stated that the Scottish Government had provided no evidence that its plan would get more women out to work.

Treasury: It is important people pay tax owed on time

The Treasury said it was "important that people pay the tax they owe on time" after plans to allow the taxman to seize money from personal bank accounts were criticised by a group of MPs.

A spokesman said: "Although the vast majority do this, there is still a minority that chooses not to pay, despite being able.

The Treasury said it was 'important that people pay the tax they owe on time'. Credit: Yui Mok/PA Wire

"The proposed powers will give HMRC [HM Revenue and Customs] another tool to collect tax debt owed.

"The current consultation includes a range of safeguards to ensure the power is tightly targeted."

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