Let me tell you a little about why these deficit reduction targets were missed.
When Osborne was in office he, Cameron and IDS cut well in excess of £20bn from welfare. They were all crowing about this during the last general election. They were all telling us that they were making work pay.
What they were not crowing about however was that the savings made from welfare during their time in office were not used to pay down the deficit. No these savings were in fact used in order to give tax cuts to those a lot further up the tree. Tax cuts like cutting the top rate of income tax by 5% and reducing corporation tax to it’s lowest ever level.
So in essence what Osborne and co did was to take from the poor and then give what was taken to those a lot lot further up the income scale.
You go on about the fall in sterling, government debt, interest rates all you like but the fact is that there is plenty of money when it comes to tax cuts for the wealthy, tax avoidance, wars, bailing out huge profit making corporations like banks, doing back room deals with tax avoiding companies, building garden bridges in London that are wasteful, pet projects like funding for the Olympics, supporting big business interests over the interests of small businesses and individuals in this country, nuclear weapons, vanity projects like HS2 which will just draw more to London rather than investing in areas outside of London.
When it comes to the above there is plenty of money available but when it comes to supporting those at the bottom of the tree we are told we are skint. We even saw Cameron and Osborne tell Clegg that building social housing only makes Labour voters so it was not a policy that should be followed.
They way the poor are being scapegoated in this country should be a national disgrace.