Postponement of the Fuel tax hike – comment from OL Economics Working Group
Commenting today on the postponement of the fuel tax hike that will now apparently be delayed until January, Tom Moriarty of Occupy London’s Economic Working Group said:
“It is further confirmation of the Chancellor’s misguided approach to tackling the current economic crisis and a tacit admission that austerity is not working. It is clear that austerity is impacting the high street, reducing consumer demand and a hindrance to business recovery.
“Unsurprisingly income tax receipts have fallen by 7.3%, in comparison to this time last year, and this will only serve to perpetuate a downward spiral of economic activity. There must be a change. It is patently obvious that ‘Plan A’ has not worked and it is making things worse for everyone. It must be abandoned and a new approach adopted. If it takes a change in chancellor then so be it but we can not allow the dogged pursuit of a failed strategy to continue.
“It is wrong for the country to pick up for the tab for the bankers reckless negligence. It would be better for the government to pursue revenue opportunities that do not fleece the ordinary man, such as the introduction of a Financial Transaction Tax and the vast amounts of tax lost through tax avoidance by major corporations that dwarf those of individuals that the Prime Minister is so happily ready to condemn. Enough is enough. There must be a change to prevent this blinkered government from leading us down a blind alley.”
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