David Cameron abandons commitment to match Labour spendingDavid Cameron Editing of this page by unregistered or newly registered users is currently disabled due to vandalism. today abandoned his commitment to matching Labour's spending plans as he warned of a future "tax bombshell bomb·shell
1. An explosive bomb.
2. One that is sensationally shocking, surprising, or amazing.
a shocking or unwelcome surprise
Noun 1. " if Gordon Gordon, river in W Tasmania, Australia, 125 mi (200 km) long. Flowing from mountains to the W coast, its main tributaries are the Franklin and Denison from the N, and Serpentine and Olga to the S. Brown presses ahead with plans to borrow £30bn to boost Britain's ailing economy.
In a keynote speech keynote speech
See keynote address.
Noun 1. keynote speech - a speech setting forth the keynote
keynote - the principal theme in a speech or literary work on the economy in London, the Conservative leader insisted increased borrowing today would mean higher taxes tomorrow as he ripped up his pledge to follow the government's spending commitment in 2010.
Cameron predicted tax rises equivalent to an 8% increase in income tax, if the government goes ahead with a "borrowing binge".
"We can't afford a spending splurge," the Tory chief said.
"Gordon Brown knows that borrowing today means higher taxes tomorrow and if he doesn't tell you that he's misleading you."
The Tory leader rejected suggestions the announcement would lead to real-term spending cuts Noun 1. spending cut - the act of reducing spending
cut - the act of reducing the amount or number; "the mayor proposed extensive cuts in the city budget" , claiming it would simply amount to "lower levels of increases".
"The right thing to do for the long term isn't always the easiest thing in the short term," Cameron said.
The Tory leader said he was a "practical man not an ideologue i·de·o·logue
An advocate of a particular ideology, especially an official exponent of that ideology.
[French idéologue, back-formation from idéologie, ideology; see ".
"I believe in simpler taxes and lower tax rates," he said.
Insisting that "free enterprise is best" Cameron also warned against political interference with the Bank of England's independence to cut interest rates.
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|Date:||Nov 18, 2008|
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