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07/10/2009
Osborne Defends Tory Spending Plans
George Osborne has stood-over the spending proposals announced at yesterday's Conservative Party conference.
Under a Tory government, the Shadow Chancellor said public sector pay would be frozen, child tax credits would be stripped from higher earners and the pensionable age would rise to 66.
Mr Osborne today denied the cuts were an electoral gamble, insisting they are necessary and honest.
Labour has dismissed the plans as confused, suggesting such moves would not close the deficit within the four-years mooted by the opposition.
The Shadow Chancellor insisted the government had "run out of money", with economic commentators suggesting even more drastic measures would be needed to bolster public coffers.
"Whoever wins the election is going to have to take these choices, anyone who tells you otherwise is frankly lying to you," Mr Osborne told the BBC.
His key speech at the party conference centred on £7bn savings across public services.
He said efficiencies could be made within the health service, and pledged to place a cap on Whitehall salaries. Military personnel earning £18,000 would be exempt for the pay freeze.
Families earning more than £50,000 per annum would lose tax credits, with the retirement age increasing by one year to 66 from 2016.
Institute for Fiscal Studies director Robert Chote said the Tories had only presented a "small shopping list", which would fall short of addressing public funding gaps.
Lib Dem Treasury spokesman Vince Cable referred to the Conservatives party's projections as "Lib Dem Lite".
Unions have indicated they would consider strike action if the Tory proposals were put into action.
(PR/BMcC)
Under a Tory government, the Shadow Chancellor said public sector pay would be frozen, child tax credits would be stripped from higher earners and the pensionable age would rise to 66.
Mr Osborne today denied the cuts were an electoral gamble, insisting they are necessary and honest.
Labour has dismissed the plans as confused, suggesting such moves would not close the deficit within the four-years mooted by the opposition.
The Shadow Chancellor insisted the government had "run out of money", with economic commentators suggesting even more drastic measures would be needed to bolster public coffers.
"Whoever wins the election is going to have to take these choices, anyone who tells you otherwise is frankly lying to you," Mr Osborne told the BBC.
His key speech at the party conference centred on £7bn savings across public services.
He said efficiencies could be made within the health service, and pledged to place a cap on Whitehall salaries. Military personnel earning £18,000 would be exempt for the pay freeze.
Families earning more than £50,000 per annum would lose tax credits, with the retirement age increasing by one year to 66 from 2016.
Institute for Fiscal Studies director Robert Chote said the Tories had only presented a "small shopping list", which would fall short of addressing public funding gaps.
Lib Dem Treasury spokesman Vince Cable referred to the Conservatives party's projections as "Lib Dem Lite".
Unions have indicated they would consider strike action if the Tory proposals were put into action.
(PR/BMcC)
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