David Cameron rules out major tax cuts

| February 7, 2011 | 1 Comment

Prime Minister David Cameron has said the Government will not introduce major tax cuts but insisted he remains a “tax-cutting Tory”.

His comments come just a few days after Deputy Prime Minister, Nick Clegg, claimed that millions of middle-class families who are set to become higher rate taxpayers from April will “barely notice” the difference.

Mr Cameron was forced to defend the statement and said his Government understands the financial squeeze on today’s households.

The Government’s tough austerity measures, designed to bring the spiralling budget deficit down, have resulted in tax hikes and major spending cuts.

From April, three quarters of a million people will become higher rate taxpayers as the earnings threshold will be lowered to £35,001 from £37,400 on 5 April.

According to the respected think tank, the Institute for Fiscal Studies (IFS), the average household will be £200 worse off.

Meanwhile, the Prime Minister told the Sunday Telegraph, he wanted to offer people “relief”, but said it could only happen “at the end of this hard road”.

He said: “I would love to see tax reductions. I’m a tax-cutting Tory and I believe in tax cuts, but when you’re borrowing 11% of your GDP, it’s not possible to make significant net tax cuts. It just isn’t.

“It’s no good saying we’re going to deal with the deficit by cutting spending, but then we’re going to make things worse again by cutting taxes. I’m afraid it doesn’t add up.”

However, the PM said he does ultimately want to see relief and lower taxes for hard working people.

In the meantime, Mr Cameron has insisted that the Coalition Government will stick with its tough austerity programme.

The Government has denied the need for a contingency plan - despite calls from business groups to ease the pace of the cuts - in light of the slowdown in economic growth.

Tags: , , , , , , tax cuts

Comments (1)

Trackback URL | Comments RSS Feed

  1. WikiLeaks says:

    I thought this was a democracy, not Camerons ‘Neverland’.

    Government profits from the VAT increase from your food alone comes to profits of 1 billion a week pocket money for David Camerons government.

    And they can’t even account for a single penny of the 6.2 billion a year spent on the new British space program, infact they can’t even produce a single employee.

    Add this to spending cuts that will render 4 million unemployed making an unemployment record high, and then consider he is going to force half a million sick people back to work and off of benefits.

    He isn’t saying ‘thank’ you to civil servants and he is turning people against each other!.

    I don’t think a 10p rise in fuel prices over ‘x y z’ years justifies the way this illegal government and affiliated corporations have bleed every penny from the UK civilization, do you ?

    We know we own the competitions fuel pumps now, and further to this BP are the worlds most profitable fortune 500 oil company!.

    He is like a vampire octopus wrapped around the face of England cutting everything back like a child in a sweet shop apart from the most important thing, his job.

    Cameron is a manic that is adding fuel to the NWO fire and lining his pockets with our money, sinking UK employment and currency just like the Illuminati are wiping out the US dollar in the states.

    Clearly he’s pushing the Illuminati agenda for starving us out and forcing his bank of the world currency, and as this is all a situational fact and that Illuminati are Satan worshiping murdering paedophiles, then who have we got running this country ?

    And what’s that hand shake mean he just did ?, I said illegal government right ?.

    For those of you whom are unaware of the Illuminati, there symbol is printed on each American dollar, the all seeing eye.

    The Illuminati were thrown out of England in the middle ages for sacrificing Christian children to their demons, a practice that unbelievably still goes on in the US today which is attributed to such horrific missing persons numbers for under 14′s in the States.

    Are YOU going to stand by and let Satan worshiping paedophiles rape YOUR children and there future ?.

    Never trust a man in a suit.

Leave a Reply

Visited 1779 times, 3 so far today