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
