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Welsh Low and Middle Income Earners Need Tax Cuts - Willott
October 27, 2008 12:00 AM
Commenting on reports that the Government is set to increase borrowing and ditch its 'Golden Rule', Jenny Willott, Welsh Liberal Democrat MP for Cardiff Central, said:
"The Government urgently needs to inject new life into the Welsh economy and beyond by cutting taxes for those struggling on low and middle incomes.
"Hundreds of thousands of Welsh families are under severe financial pressure and easing their tax burden would improve their ability to make ends meet and restore consumer spending.
"Increases in government borrowing are inevitable in a deepening recession, but ministers must not assume that this is the best way of stimulating the economy.
"The impact of extra government investment may not be felt for some years and ministers must have a plan to bring the budget back into the black once the economy starts growing again.
"The Liberal Democrats support intervention in specific areas, such as housing, where the Government can take advantage of cheap land prices to meet the growing need for affordable and social hosing and to give a boost to the depressed construction industry.
"Over the last year the Welsh construction industry has lost more than 12,000 jobs, more than any other part of the UK."
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