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The Chancellor, George Osborne has defended imposing VAT on hot takeaway pasties in his budget by blaming greedy bakers for the biggest crisis facing the country since the great depression.

Osborne announced he was seeking to regulate the baking sector in an effort to rein in what he called ‘out-of-control’ pie baking and he also blamed the previous Labour government’s failure to regulate the industry in the lead-up to the crisis.

The government has denied it is ignoring the causes of the financial crisis and it is hoping the announcement that regulation of the baking sector will be a priority for the government will go some way to clawing back public support on the economy.

As part of the government initiative, the coalition has issued a call to action, urging bakers to start acting responsibly and Andrew Lansley, the Conservative Party spokesman on the baking sector, has been told to cut 5 billion calories a day from the nation’s diet in order to reduce the country’s addiction to baking:

The biggest challenge facing us today, apart from raising the motorway speed limit, is the price of Cornish pasties. It is clear the economic difficulties we are all facing have been caused by the actions of a few greedy, over-indulgent and irresponsible fat-cat bakers and that is why this government intends to do something about them.

In another development which shows how seriously the coalition government is treating the crisis, Nick Clegg the Liberal Democrat leader and Deputy Prime Minister launched his own attack on the baking sector:

This crisis is a reminder of how reckless and greedy the global baking industry has become – and we in the Liberal Democrats are the only party which is prepared to stand up for normal people against the power of the pie-making industry.

Labour said in response to the government initiative that it welcomed the crackdown on irresponsible baking but that the real cause of the crisis was:

too many government fingers in too many pies.

A government spokesperson denied this, saying:

Eric Pickles has nothing to do with it.

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