No time for ‘do nothing’ budget - Economy - News - Moneyfacts

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No time for ‘do nothing’ budget

No time for ‘do nothing’ budget

Category: Economy

Updated: 20/04/2009
First Published: 20/04/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The Child Poverty Action Group (CPAG) has told the Government that struggling families cannot afford a ‘do nothing' budget.

The CPAG says that the Government must invest at least £3 billion in benefits and tax credits if it is to succeed in halving child poverty in the UK by 2010, as it promised to do ten years ago.

Such a commitment, however, would provide a significant economic boost, according to the group. It says that any package providing support for those out of work, directed through Jobseeker's Allowance, could equate to a stimulus of over £10 billion and result in an extra 227,000 jobs.

"Family security and economic security are inseparable," commented chief executive of CPAG, Kate Green. "If we fail to look after children now, we will be storing up major social and economic problems for the future.

"Despite the recession and the pressure on the public purse, the country still has the resources to keep the promise to end child poverty."

They are sentiments echoed by Liberal Democrat Shadow Chancellor, Vince Cable, who has said that the Budget has to address simple economic facts such as unemployment and families struggling to pay their mortgage.

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