Emergency Budget is turning point for Britain’s battered economy : Graham Evans, Conservative MP for Weaver Vale
Graham Evans, Conservative MP for Weaver Vale

Emergency Budget is turning point for Britain’s battered economy

Chancellor George Osborne has presented the Government's first Budget - a five year plan to rebuild the economy based on responsibility, freedom and fairness.

"This emergency Budget deals decisively with our country's record debts",Osborne said.

After the longest and deepest recession since the Second World War, the Emergency Budget shows how the Government will make the tough choices required to tackle Britain's record deficit. The Budget focuses on getting the public finances back under control, and providing a springboard for a private sector-led recovery with balanced growth across sectors and regions.

Osborne expressed regret that "this unavoidable budget" had to include an increase in taxes, saying "we've had to pay the bills of past irresponsibility". But he emphasised that the burden is fairly shared.

"Today we have paid the debts of a failed past and laid the foundations for a more prosperous future",he concluded.

Graham Evans MP said: “Today, George Osborne took the tough decisions and the decisive action required to sort out Labour’s economic mess. Thanks to Labour’s gross economic mismanagement, clearly there will be some difficult times ahead. If we don’t act now within five years, we’ll be paying out £70bn in debt interest a year - more we spend on educating our children, policing our streets or defending our country.”

“However, this emergency budget also showed that the Conservative-led Government is committed to fairness and ensuring that the budget is not balanced on the backs of the poorest and most vulnerable. In particular, I am delighted that nearly one million people on low incomes across the country will be lifted out of paying income tax altogether.”

June 2010