Friday, 17 July 2015

Impact of the UK Government's Budget

On 8th July, I joined a protest at the Chancellor of Exchequer George Osborne's budget announcement in George Square. The reductions in tax credits and other benefit cuts including the denial of housing benefits for 18-21 year olds were highlighted as going to leave many struggling families close to or over the edge of financial disaster.  Communities across Glasgow are facing increased levels of financial hardship as a result of the Budget plans.

Social security benefits are not likely to meet basic living needs. The fall in the level of Employment Support Allowance is seen as a direct attack on the people who are ill and disabled.  There is a drop in the benefits cap which comes at the same time as a legal ruling that the existing inadequate level puts Britain in breach of its obligations under the UN Convention on the Rights of the Child. 

Greens join protest in George Square.

There have been widespread calls for low carbon investment and transition to tackle dangerous climate change. However, the budget's removal of the climate change levy exemption on renewable energy will result in the taxing of clean power as if it were a fossil fuel. The consequences are increased costs for businesses to buy electricity from renewable power. This raises concerns about investor confidence as it changes the stable market conditions needed for financing and business planning of the renewables sector.

Useful link:

Reactions to Budget 2015 -

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