“This was a disappointing budget with growth down and borrowing up. Growth will be lower than previously forecast this year and next year.
“The Government’s fiscal plans are in tatters – borrowing is set to be £245 billion more than planned; the Government’s promise to balance the books by 2015 will not be met; and the national debt will not now be falling until 2017/18.
“It is families who are paying the price; with unemployment rising, prices increasing and wages stagnating.
”The Office for Budget Responsibility has confirmed that by 2015 people will be worse off than they were in 2010.
“This is Budget that is just more of the same – no change on anything important, but the Chancellor’s going ahead with a tax cut for millionaires in two weeks’ time.
“What we needed in this Budget was a change of direction and bold action to kick-start our flat-lining economy and give real help to families on middle and low incomes – not more of the same failing policies.
“David Cameron and George Osborne’s economic plan has completely failed. Families, pensioners and businesses are paying the price. Britain deserves better than this.”
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