CBI: pre-budget fails on both counts
Richard Lambert, CBI Director-General, said:"There were two tests for this Pre-Budget report. First, would it increase the credibility of Government plans to restore the public finances? Second, would it be a platform for job creation and economic growth?
"The Government has failed on both counts.
"The Chancellor has made a serious mistake imposing an extra jobs tax at a time when the economic recovery will still be fragile. Increasing National Insurance contributions will hold back job creation and growth.
"He has also missed the opportunity to increase the UK's credibility by reducing the public deficit earlier. The Government still needs to set out fuller plans on how it will reduce public expenditure."
