Lib-Cons' Emergency Budget Will Have to Raise Taxes; ECONOMICS ANALYSIS
Byline: Hugo Duncan
THE waiting is nearly over. The emergency Budget on June 22 should finally outline a credible plan to plug the black hole in the nation's finances.
One thing is certain -- the spending cuts and tax rises proposed by George Osborne, the new Chancellor of the Exchequer, will be very painful.
Anything less risks the wrath of the financial markets and a fresh wave of largely unwarranted comparisons with crisis-torn Greece and other debt-ridden countries in southern Europe.
Osborne is only too aware of this. As are the Bank of England and the Treasury.
Even the Liberal Democrats, who initially sided with Labour in opposing …
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Publication information: Article title: Lib-Cons' Emergency Budget Will Have to Raise Taxes; ECONOMICS ANALYSIS. Contributors: Not available. Newspaper title: The Evening Standard (London, England). Publication date: May 18, 2010. Page number: 32. © Not available. COPYRIGHT 2010 Gale Group.
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