Reaction to falling GDP: Government must cut public spending and taxes to get growth
Jan 2013 25

Reaction to falling GDP: Government must cut public spending and taxes to get growth4

Commenting on today’s announcement that the economy shrank by 0.3 per cent in the final quarter of 2012, Matthew Sinclair, Chief Executive of the TaxPayers’ Alliance, said:

“The fact that our economy is shrinking is a further sign that the Government has failed to get to grips with the economic crisis. Taxes are far too high and needlessly complicated, while business remains strangled by red tape, despite promises of reform.

“Meanwhile, the Coalition continues to increase spending which is already unsustainably high. Ministers need to take bold steps to cut spending and taxes in order to stimulate the economy and produce the growth that eludes them. Our unstable, overly complex tax code deters investors and places a heavy burden on families and businesses alike. Until George Osborne undertakes genuine tax reform and eases the pressure on taxpayers, the economic outlook will remain grim.”

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  • LB

    Axe Vince Cable’s department completely. 20 bn there a year to be had.

  • LB

    On Merkel, she’s let the cat out of the bag.

    ==========
    But Berlin remains highly sceptical of the Tories’ tactics and is likely to fight hard against any attempt by Cameron to give Britain a major competitive advantage in the single market.
    ==========

    Think it through. If the UK gets a advantage by getting out of parts of EU legislation, that legislation is making the EU uncompetitive. We live in a world bigger than the EU, and here’s the admission that the EU is causing damage.

    Merkel has it wrong. They should be looking at giving all EU countries an advantage, rather than causing damage.

  • http://twitter.com/OhBrokenBritain Grumpy Ole Man

    I think the country would be £billions better off out of the EU. The £ we save could be spent on hospitals, schools and road improvements in this country. That would do quite a bit to stimulate the economy.

    • blarg1987

      But we would loose them as a place to trade with. Countries that have an arrangement with the EU have to pay in to get the trade deals the idea that we we can all the pros but none of the cons if we pulled out is not true nor accurate.