27 April 2009
Last week the Chancellor delivered a breathtaking Budget, describing the worst recession, the fastest rising unemployment, and the worst public finances since WW2. National debt is going to double again to £1.4 trillion.

Whatever the spin about taxing the rich, Labour's tax rises are for the many and not just the few. The result will be a £1,000 tax rise on every family over the next two years.

But even this is only part of the story. It was a dishonest Budget, as it was based on fantasy forecasts of optimistic growth, discredited by the IMF barely an hour later.

The Institute of Fiscal Studies has since warned that it contains a £45 billion 'unexplained' fiscal tightening, equivalent to a further £1,430 in additional tax rises per taxpayer during the recovery.

With over 1,300 net job losses in Shropshire since August 2008 and a further rise in the claimant count last week, I wanted help for business to keep people in work.

But National Insurance is to be increased for workers and for firms, which will discourage businesses from hiring staff, cut people's pay packets, and mean anyone earning £20,000 a year or more will be worse off.

By contrast, Conservatives would cut tax on businesses that create jobs; cutting payroll taxes for small companies; and cutting corporate tax for all SMEs and VAT bills for small companies.

We are offering a different route-map to economic recovery, based on savings and ownership not borrowing and debt.

The Budget revealed the extent of Labour's decade of debt. This Government is borrowing more in the next two years, than all previous Government between 1694 and 1997 combined. Not for the first time, it will take a Conservative government to get us out of Labour's mess.