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LIB DEMS WANT A BUDGET THAT CUTS TAXES AND BOOSTS GREEN ENERGY FOR TYNESIDE

April 22, 2009 10:16 PM

Newcastle East Liberal Democrat Parliamentary spokesman Greg Stone is urging the

Chancellor of the Exchequer to follow the lead of the Lib Dems in promoting green investment in his Budget tomorrow.

The Lib Dems have been highly critical of the failed initiative to cut VAT by 2.5% as a means of tackling the recession, and have called for investment in green public spending programmes instead.

In particular, they want to see more done to tackle fuel poverty through addressing rising energy prices and more help for projects like Newcastle Warm Zone, as well as major Government investment in a planned "national grid" for offshore renewable energy - which would benefit the development of green energy manufacturing on the Tyne.

Newcastle East spokesman Greg Stone said: "The Government got it wrong when they cut VAT, but the Lib Dems have been proved right to have called for investment in green spending programmes to kick-start the economy.

"We are particularly supportive of plans for offshore renewables as we have been calling on the Government to show some real commitment to the development of renewable energy jobs on the Tyne.

"However, we also want to see the Government to take real action to help people and families who are suffering the effects of their economic mismanagement, as we cannot afford further fiascos like the 10p tax sting or the VAT cut.

"The Lib Dems are calling for an increase in tax allowances for everyone earning less than £100,000, meaning a £700 tax cut for all.

"This will make a real difference now for the vast majority of people in Newcastle but particularly people on lower and middle incomes.

"It will be a far more practical and immediate step than waiting eighteen years for child trust funds to mature.

"Finally, we want to see the Government take real action to help kick start the housing market, including providing proper funding for council house construction and for new build affordable housing."