Posted on 05/08/2012 6:20:23 AM PDT by Perdogg
David Cameron is to declare that there is “no going back” on harsh spending cuts after seeing the leaders of France and Greece swept from power by public anger at austerity.
(Excerpt) Read more at telegraph.co.uk ...
Things have moved on. The latest budget from the Con/Lib Dem coalition axed the 50% marginal top rate of income tax, and also cut corporation tax.
You really need to look at the whole picture to get a sense of what this government is doing. Yes, there have been a few tax rises but also a lot of cuts. But it's the expenditure cuts, and the net effect on the deficit, which are the big story. Overall since this government came into office it's made the largest reduction in the size of government (up to 40% in the case of some departments) in modern times. It's more than even Margaret Thatcher at her most radical attempted over such a short period.
It’s austerity across the board. Balance the budget. Taxes up, benefits down, government downsized....
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