Treasury: These are tax cuts for the few

Thursday, 19, Oct 2006 12:00

The Treasury has slammed Conservative proposals to cut taxes, saying the £21 billion package would not help ordinary families and would leave a hole in public finances.

Economic secretary to the Treasury Ed Balls argued the reforms showed the Tories "remain committed to deep and savage cuts in public services" that were "for the few not for the many".

He added: "The Tories promised us that the first test of every new policy would be what it did for the least well-off in society. They have betrayed that promise today.

"The recklessness of these cuts would leave a black hole in public finances. The Tories are playing fast and loose with the economy, risking high interest rates and a return to the old instability of the past."

Today's announcement meant the Tories had "the same old policies – massive tax cuts for the rich, savage spending cuts for our public services", he said.