George Osborne’s £7bn tax cuts plan is a ‘total fantasy’, warns Vince Cable

Pledge not affordable, says business secretary, adding that chancellor’s policy would mean ‘horrific cuts to key services’

The business secretary, Vince Cable, has torn into the Conservatives for promising £7bn of new tax cuts at a time of renewed uncertainty about the global economy, saying it was “total fantasy” to think they could be delivered without raising other taxes or making massive extra cuts to public services.

Cable told the Observer that officials inside the Treasury were increasingly concerned that the pledges made by the chancellor, George Osborne, and David Cameron at the Tory conference in October were not affordable and could put the government’s reputation for fiscal credibility at risk.

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Source Network Front | The Guardian http://ift.tt/1zai9La

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