Thursday, 22nd March 2012
As around 4.4million pensioners are hit with the removal of a valuable tax break that will cost them around £3.5billion, it has been revealed that the amount of money given to the European Union has increased by £1.8billion since last November.
Budget papers reveal the difference between Britain's real and forecast net contribution from 2010/11 to 2013/14 increased from £31.3billion at the Autumn statement to £33.1billion at the Budget.
The figures not only show that the Treasury got their estimates wrong, but also that the UK is paying more to the EU than ever before.
Forecasts also released yesterday by the Office for Budget Responsibility, the Government's fiscal watchdog, reveal that in 2012 the Eurozone will have a recession, while in every one of the next four years it will deliver output growth at less than half the rate of the world as a whole.
These figures show that by being a member of the EU, the UK's economy is chained to the slowcoach of the world economy.
UKIP Leader Nigel Farage, said: "It is disgraceful that many of the country's pensioners will lose out due to these tax changes, yet the amount of money we give to the EU continues to spiral out of control.
"The Government has got its priorities wrong and these figures speak for themselves."
The figures not only show that the Treasury got their estimates wrong, but also that the UK is paying more to the EU than ever before.
Forecasts also released yesterday by the Office for Budget Responsibility, the Government's fiscal watchdog, reveal that in 2012 the Eurozone will have a recession, while in every one of the next four years it will deliver output growth at less than half the rate of the world as a whole.
These figures show that by being a member of the EU, the UK's economy is chained to the slowcoach of the world economy.
UKIP Leader Nigel Farage, said: "It is disgraceful that many of the country's pensioners will lose out due to these tax changes, yet the amount of money we give to the EU continues to spiral out of control.
"The Government has got its priorities wrong and these figures speak for themselves."
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