This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/uk_politics/7745994.stm
The article has changed 7 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Cameron warns over tax increases | Cameron warns over tax increases |
| (9 minutes later) | |
| Conservative leader David Cameron has warned the government's economic plans will send taxes rising in the future. | Conservative leader David Cameron has warned the government's economic plans will send taxes rising in the future. |
| The pre-Budget report at 1530 GMT is set to include a cut in VAT from 17.5% to 15% - paid for in part by a new 45% tax rate on earnings over £150,000. | The pre-Budget report at 1530 GMT is set to include a cut in VAT from 17.5% to 15% - paid for in part by a new 45% tax rate on earnings over £150,000. |
| In a speech to the CBI, Mr Cameron said the money being "thrown at us" by the government would be taken away later. | In a speech to the CBI, Mr Cameron said the money being "thrown at us" by the government would be taken away later. |
| He said "monetary activism" - lower interest rates - should be used by the government to support the economy. | He said "monetary activism" - lower interest rates - should be used by the government to support the economy. |
| 'Higher debts' | 'Higher debts' |
| PRE-BUDGET REPORT href="http://news.bbc.co.uk/1/shared/bsp/hi/pdfs/24_11_08_pbr_completereport.pdf">Report in full Most computers will open PDF documents automatically, but you may need to download Adobe Acrobat Reader. href="http://www.adobe.com/products/acrobat/readstep2.html">Download the reader here | |
| Mr Cameron said: "They might be talking about tax giveaways but everyone knows that they're throwing money at us now to take it away at a later date. | Mr Cameron said: "They might be talking about tax giveaways but everyone knows that they're throwing money at us now to take it away at a later date. |
| "To pay back all this money would mean an 8% rise in income tax, or a 6% rise in VAT, or a corporation tax rate of 71%." | "To pay back all this money would mean an 8% rise in income tax, or a 6% rise in VAT, or a corporation tax rate of 71%." |
| He added: "This is the real story of today's PBR. Higher debts in the future. Higher taxes just as the economy starts to grow again. More of the same policies that got us into this mess - when we desperately need a change in direction." | He added: "This is the real story of today's PBR. Higher debts in the future. Higher taxes just as the economy starts to grow again. More of the same policies that got us into this mess - when we desperately need a change in direction." |
| This is not walking on by. This is offering sensible, practical and costed help for businesses and families through this difficult time David Cameron | This is not walking on by. This is offering sensible, practical and costed help for businesses and families through this difficult time David Cameron |
| Gordon Brown has attacked Mr Cameron's approach, warning: "To fail to act now would not only be a failure of economic policy, but a failure of leadership." | Gordon Brown has attacked Mr Cameron's approach, warning: "To fail to act now would not only be a failure of economic policy, but a failure of leadership." |
| Mr Cameron told the CBI conference in London the government's focus should be on "monetary activism" to help families and businesses cope with the downturn. | Mr Cameron told the CBI conference in London the government's focus should be on "monetary activism" to help families and businesses cope with the downturn. |
| He said: "The CBI and the Conservative Party are agreed that monetary activism - lower interest rates and getting credit flowing again - is our top priority. | He said: "The CBI and the Conservative Party are agreed that monetary activism - lower interest rates and getting credit flowing again - is our top priority. |
| "As your director general said last week, getting the credit markets working properly is much more important than the fiscal boost." | "As your director general said last week, getting the credit markets working properly is much more important than the fiscal boost." |
| 'Sensible help' | 'Sensible help' |
| And Mr Cameron warned: "Tomorrow, the headlines from the pre-Budget report may well shout about tax giveaways. But the real story of this PBR will be our enormous deficit and out-of-control public finances and that's where we need to learn the long-term lessons." | And Mr Cameron warned: "Tomorrow, the headlines from the pre-Budget report may well shout about tax giveaways. But the real story of this PBR will be our enormous deficit and out-of-control public finances and that's where we need to learn the long-term lessons." |
| The government's deficit is set to be a "mind-boggling" £80bn this year, and could be more than £100bn next year - more than £4,000 for every family in Britain, he said. | The government's deficit is set to be a "mind-boggling" £80bn this year, and could be more than £100bn next year - more than £4,000 for every family in Britain, he said. |
| "We're already paying more on debt interest than we do on schools and transport budgets and after this PBR, Gordon Brown will have borrowed more than all previous governments combined." | "We're already paying more on debt interest than we do on schools and transport budgets and after this PBR, Gordon Brown will have borrowed more than all previous governments combined." |
| He accused Mr Brown of "misrepresenting" his position as one of inaction. | He accused Mr Brown of "misrepresenting" his position as one of inaction. |
| "This is not walking on by," he insisted. "This is offering sensible, practical and costed help for businesses and families through this difficult time." | "This is not walking on by," he insisted. "This is offering sensible, practical and costed help for businesses and families through this difficult time." |
| "I have explained exactly what we would do in terms of freezing the council tax, cutting firms' VAT bills, cutting firms' National Insurance bills and also the very big monetary activism we believe is necessary to get credit flowing again," he said. | "I have explained exactly what we would do in terms of freezing the council tax, cutting firms' VAT bills, cutting firms' National Insurance bills and also the very big monetary activism we believe is necessary to get credit flowing again," he said. |