Public finances a one-way street for cuts crazed Con Dems

George Osborne MP, the government’s leading prophet of austerity, will today announce that ‘more painful cuts’ are needed in the year ahead, pointing out that public borrowing continues at £100bn a year. This is the same government that has depleted public finances by cutting the top rate of tax for those earning more than £150,000 from 50% to 45% and which by 2015 will have brought down Corporation Tax on company profits from 28% to 20%. Whilst, it is to be expected that a government of and for the rich will favour permanent cuts in public services over progressive taxation on the wealthy and increased taxes for corporations, it would be a fatal mistake for an incoming Labour government to adopt the same approach:  http://www.bbc.co.uk/news/uk-politics-25617844