Failure and broken promises

Chancellor George Osborne claims the economy is in recovery yet new statistics from the office for national statistics (ONS) show a much different story.

Today’s (Tuesday October 21) data shows revenues from income tax and wealth stalling as living standards continue to plummet and the recovery passes struggling households by.

Unite believes George Osborne will need to cut borrowing by 37 per cent if he is to meet his target.

“George Osborne’s track record is one of failure and broken promises,” said Len McClusky, Unite general secretary.

“It’s a dismal record and the figures show that his so-called ‘economic plan’ is doomed and that the recovery is nothing more than an illusion for millions of people struggling to make ends meet,” added Len.

Excluding the effects of bank bail-outs, borrowing was ÂŁ11.8 bn, which was 15.3 per cent, or ÂŁ1.6 bn more than September last year.

“This Tory-led government’s idea of recovery is giving tax cuts to rich, while hitting the vulnerable and the working poor under the mantra of work harder, get poorer,” said Len.

“This is not the basis for a sustainable recovery,” he added. “Britain needs an economic recovery that benefits the majority and an economy built on secure, decent paid jobs.”