Shadow Chancellor, Oliver Letwin has challenged the Government concerning taxes that would be raised if Labour were re-elected. Mr Letwin stated: "Independent experts have said that Mr Blair is borrowing too much. We have a plan to reduce that borrowing. Mr Blair does not. It is time he told the truth on tax."
Our view:
Well, when you have spent all your piggy bank money - i.e. our Gold Reserves - there is only one thing to do and that is borrow. It is interesting that the current Government wish to curb the Nation's spending with higher interest rates yet it is unable to do the same.