> Home > Articles > Videos > Autumn Statement: Nigel Farage calls for more cuts
Autumn Statement: Nigel Farage calls for more cuts
Date 06/12/2012 23:31  Author webmaster  Hits 3519  Language Global

[Re-uploaded after hacking incident]

"George Osborne’s attempt to control Britain’s budget deficit has failed," said UKIP Leader Nigel Farage.

"We will still have a deficit of almost £100 billion in the next fiscal year, despite almost five years of cuts, austerity and disappointment. His forecasts over the coming few years, suggesting it will drop from £108 billion to £31 billion in the next 5 years are the stuff of fantasy, not economic reality. 

"At the very point the OBR forecasts have been proven to be too optimistic, so are these. UKIP has no confidence in these figures, we fully expect them to be revised, and revised again in the future. As the Eurozone continues to implode, the US debt ceiling has not been solved and the world economy is still sluggish.

"There are positives for the economy in the Statement, however. 

"UKIP is delighted that those on the minimum wage will see their income tax reduced, though of course we feel it is wrong and illogical that they pay anything at all.

"We support the money being forwarded to capital projects for roads, and additional funding for schools, broadband and flood defences with its associated job creation. We also support the reduction in Corporation Tax to 21%, and the increase in Plant and Machinery Relief which will help a significant proportion of small and medium-sized businesses (SMEs). However, if the government wishes to support SMEs, which we need to drive growth, the Chancellor had little to say on cutting the regulation that is holding back investment, no action on cuts to VAT and business rates, and no support for exporters who are trying to drive expansion abroad.

"UKIP is concerned that the government is lacking a radical vision for growth of the UK economy. It is once again attacking hard working families by dragging a further 400,000 into the top rate of taxation,  and hurting pensioners and savers who have contributed to the country throughout their lifetimes and are now being made to suffer in their old age. It is also shocking that the government is cutting the social security benefits for some of the poorest in our land. There are other things we could and should be doing.

"We could of course be looking at saving £20 billion a year immediately and £150 billion a year ultimately by leaving the EU?