Osborne call on Labour MPs to vote in favor of govt. budget cuts
UK Chancellor George Osborne has called on the opposition Labour MPs to defy their leader Jeremy Corbyn and vote in favor of a harsh new fiscal charter.
Osborne asked them to back the legislation, which seeks to force future government to run a budget surplus – effectively enshrining austerity into law.
Many say the chancellor Osborne is seeking to exploit a rift between the Labour leadership and the MPs, who remain skeptical of Jeremy Corbyn’s anti-austerity platform.
“I call on all moderate, progressive Labour MPs to defy their leadership and join with us to vote for economic sanity,” Osborne said.
Some MPs say Osborne’s gambit amounts to a “political stunt.”
The budget cuts plan has already sparked harsh criticism from economists.
Economist Michael Burke called the legislation “ridiculous.”
“It’s a ridiculous piece of legislation, although unamendable, which commits future governments to run budget surpluses in normal times. I would be surprised if you could get a tiny handful of economists around the world, who thinks that’s a good idea. The overwhelming majority of economists know that you should borrow to invest, that’s how you grow the economy,” he said.
Meanwhile, others warn about the social consequences of the budget cuts.
"The most vulnerable people including the elderly and the patients are taking the burden of the austerity program, the London-Based Commentator Javier Farje told Press TV.
He went on further saying that the government is neglecting the economic pressure on the underclass section of the UK society.
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