Tax: Ed Balls calls for emergency cut

16th June 2011

The BBC News website reported that Ed Balls will use a major policy speech to call for a temporary emergency tax cut to stimulate the economy.

Mr Balls claims a tax cut would boost consumer confidence and therefore encourage both spending and saving.

Mr Balls says the government's cuts programme aimed at lowering the UK's  budget deficit risks a "vicious circle" of lower investment, income and employment leading to slower growth, bigger tax increases and more spending cuts.

More on Mindful Money:

Plan B or not Plan B: Economists row about size and speed of spending cuts

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