The conservative party have attacked the chancellor, Alistair Darling, over his plans to rescue the economy. The under fire chancellor has been accused of a reckless gamble with Britain’s finances by proposing tax cuts designed to encourage people to start spending again that will leave the UK with a “trillion pound” debt.
Mr George Osborne, the shadow chancellor, demanded a debate in parliament on the proposals. It is widely believed that with huge numbers of people in financial trouble, already up to their spending limits and requiring debt advice and assistance that the measures proposed by the government will not provide the solution. In Mr Osborne’s opinion, the government’s plan will leave the UK with a bigger national debt problem in the future. Making banks pass on recent interest rate cuts to firms would help reduce costs and save jobs.
