BUDGET 2013: Borrowing For Failure(March 19, 2013)
Ahead of the Chancellor's budget, Walton MP Steve Rotheram examines the Government's arguments on borrowing"
“David Cameron says any action to kick-start the economy will lead to more borrowing. But the government is already borrowing more to pay for the costs of their economic failure.
“Without growth we simply cannot get the deficit down. If confidence is crushed, businesses go bust, long-term unemployment soars, the Government gets less from tax revenues and the benefits bill goes up.
“That is why the deficit is rising this year and the Government is set to borrow a staggering £212 billion more than planned to pay for the mounting costs of its economic failure.
“This doesn’t make any sense. A steadier and more balanced plan – sensible spending cuts and tax rises, together with measures that support our economy, create jobs, invest in infrastructure, and reform our economy for the long term – would be fairer, more successful in getting the deficit down and make Britain better off for the future.