LCID reaction to the 2012 Budget

LCID reaction to the 2012 Budget:

  • The Lib Dems claimed this would be a ‘Robin Hood’ Budget. What a farce that proved to be. As Oxfam said in their reaction to the Budget, rather than taking yet more money from the poorest in our society the government should make those that caused the financial crisis pay their fair share with a real Robin Hood Tax.
  • It is welcome that following the £1.2bn cut to aid in the Autumn Statement Osborne made no further concessions to his backward backbenchers. The Personal tax statements are also welcome, as they’ll show what great value aid budget is – just £1.09 a week for average earner. We’d say that £56 a year to lift over 3 million people permanently out of poverty is pretty good going. To put that into context, it’s about the same as a many of us might shell out on a replica football shirt, and the perfect myth buster to those in the right-wing press who spread lies about aid’s cost.
  • But most worrying was the sneaking through of a new corporate tax loophole that Action Aid have estimated will cost the world’s poorest countries as much as £4 billion a year, and the UK £1 billion, something Labour has strongly condemned.

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