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Commentary

Age of austerity

Austerity Britain is arriving at a platform near you. In June the new Chancellor, George Osborne, steamed in with the first budget of the Conservative/Lib-Dem coalition. It was styled an ‘emergency budget’, aimed at reducing the enormous national debt, and everyone will have to get on board.

John Benton

The measures introduced included a rise in VAT to 20% from next January, Capital Gains Tax increasing from 18% to 28%, and the freezing of child benefits. In my street already some of the young guys are downsizing from flash cars to motorbikes.