In an interview before he presents his budget next week, the Chancellor announced he intends to lower taxes for public workers in the poorer regions of the country and cut wages for people earning over £150,000 a year.
When asked why sources in the government had said he was in fact going to do the opposite, namely cut taxes for people earning over £150,000 a year and lower wages for public servants in the poorest regions of the country, the chancellor said:
Oh dash. I knew I’d get it the wrong way round. What was the question again?
In a wide ranging interview, which included government policy on fiscal stimulus and pay restraint, Mr Osborne was asked to explain why he had decided to lower the 50% tax for the highest earners when he had vowed to reduce the government deficit and why he was going to lower wages for workers in the hardest hit regions of the country during a time of austerity. Mr Osborne explained:
It’s easy to get a bit muddled up when you’ve got all these numbers everywhere to deal with. But anyway, I think I’ve got it now. Either I’m going to raise taxes on people in poorer areas or lower their wages. Or was it their taxes I was going to lower? Is it important? Can I call David?
Mr Osborne was also asked about how he thought his policies were going to impact on supply and demand by avoiding excessive growth in the money supply and how he intended to change fiscal policy related to its effects on Producer Price Indices and stabilising CPI. Mr Osborne replied:
Erm………… I’ll get my coat, shall I?
George Osborne’s previous job before becoming Chancellor of the Exchequer was as a towel folder in Selfridges.
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