“Chancellor George Osborne’s attempts to use the Budget Statement as a vindication for four years of austerity crumbled today when the numbers he published proved he has failed on every single one of the tests which he set for himself.
“That debt would begin to fall as a share of GDP by 2014/15, that the current account should be in balance by 2015/16 and that public sector net borrowing would fall to £20 billion in the same year.
“Unfortunately for the Chancellor, he was forced to report that debt will not begin to fall as a share of GDP until 2017/18 the current account will not be in the black until 2017/18 and the Public Sector Net borrowing will not be £20 billion in 2015/16 – it will be much a higher £68 billion.
“The budget sees no let up in the UK Government’s austerity programme. The Tory / Liberal coalition are still trying to balance the books on the back of the poor.
“There is no real help for ordinary families who won't have £15,000 to save in an ISA and no understanding from this Government about how difficult things really are.
“And while the Tory Backbenchers may have waved their order papers today – they will pay the price for yet more Tory austerity at the ballot box.
“This is the last budget before September’s Scottish Independence Referendum and with a Yes vote future Scottish budgets will put in place the building blocks for real economic recovery.”
“That debt would begin to fall as a share of GDP by 2014/15, that the current account should be in balance by 2015/16 and that public sector net borrowing would fall to £20 billion in the same year.
“Unfortunately for the Chancellor, he was forced to report that debt will not begin to fall as a share of GDP until 2017/18 the current account will not be in the black until 2017/18 and the Public Sector Net borrowing will not be £20 billion in 2015/16 – it will be much a higher £68 billion.
“The budget sees no let up in the UK Government’s austerity programme. The Tory / Liberal coalition are still trying to balance the books on the back of the poor.
“There is no real help for ordinary families who won't have £15,000 to save in an ISA and no understanding from this Government about how difficult things really are.
“And while the Tory Backbenchers may have waved their order papers today – they will pay the price for yet more Tory austerity at the ballot box.
“This is the last budget before September’s Scottish Independence Referendum and with a Yes vote future Scottish budgets will put in place the building blocks for real economic recovery.”