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Senior News Editor, CNBC EMEA
Vote for us and we promise austerity but at least we are in it all together! George Osborne in his eagerly anticipated speech to the Conservative Party Conference took aim at the Labour Government’s bloated budget deficit, promising savings of £23 billion pounds ($36.8 million) over the course of the next 5 years if elected next May.
Patrick Allen
CNBC Senior
News Editor
Pay freezes in the public sector, 10 percent less politicians, pay cuts for ministers, an end to the huge pension deals for the civil service. Like businesses such as BT and Vodafone government will have to do less with more.
For the rich a spoon full of sugar to make the medicine go down. A Conservative government will, according to Osborne, go after offshore money, tax the non-domicile rich whilst reserving the right to tax bankers who take excessive payouts, telling them the recent bailouts where for your banks not your bank accounts. But on 50 percent tax for high earners, better news, a Conservative government will roll back the Labour government’s proposal when the economy returns to normal.
NHS spending will rise, the baby boomers will get better pensions in return for working an extra year and battle-hardened troops will get more cash.
Is this the vision of a better Britain that is ‘Ready for Change’ that we were promised?
Let us know what you think. Geoff and I will be asking Osborne and some leading delegates in Manchester over the next 48 hours and will get back with their response ASAP.
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