Friday, 30 April 2010

The Tories are a risk to the recovery as secret memo to raise VAT leaked

Conservative economic plans pose a great risk to the recovery according to Yvonne Fovargue following the leaking of a secret memo detailing plans to raise VAT to 19.5% in a future Tory budget.

Yvonne Fovargue said, “The Tories got it consistently wrong during the recession and they are now getting it wrong on the recovery."

“The Tories are committed to an emergency budget within 50 days of the election immediately taking £6 billion out of the economy putting the recovery at risk."

“Today we have learned of a Tory secret plan to raise VAT to 19.5% at that budget and hitting hard working local families and pensioners.”

Yvonne Fovargue believes this demonstrates Tory values and instincts. She added, “Underneath the glossy poster adverts lie the real values of the Tory party. A VAT increase that would hit local people hard in the pocket but a £200,000 tax giveaway to the 3,000 richest estates in the country.”