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Pre-Budget Report

01 December 2008

Once again, the government showed its contempt for parliament this week when the Prime Minister presented his Pre Budget Report which it had already leaked to the media. He confirmed what many people feared – that the country's massive debt crisis, caused by too much borrowing and spending and not enough saving, is to be cured by - yes you guessed - more borrowing and spending and no encouragement to save. This £20 billion short term giveaway will be followed by £40 billion of permanent tax rises – almost £1,500 for every family and the national debt will double to £1 trillion. Anyone with personal debt knows the unpalatable truth - that the only way to get back into the red is to start living within their means and try to save a little for the future, however small. If they don't, the debt just grows bigger and the chances of paying it off fade. The principle is the same for the country's finances.

Everyone who earns, spends or saves money is a taxpayer and we will all have to face pay back time. The Prime Minister's binge spending will produce a hangover that will have everyone groaning. He is mortgaging the country’s future to try to safeguard his own and we shall all be paying it off for decades to come.

Yours sincerely, Angela Watkinson MP.