Bloxhams urges Government to cut taxes

The Government is being told to cut taxes, spend more and break EU rules on borrowing to get the economy back on track.

Bloxhams Stockbrokers has said the European Central Bank is failing to stop the eurozone economies from sliding into recession.

It is calling for an ambitious budget that eases the burden on exports, restores confidence in the housing market and puts more money in people's pockets.

Bloxhams chief economist Alan McQuaid has said the Government cannot afford to play it safe with next month's budget.

‘We need a stimulus budget and I think most people out there say the same.

‘Consumer confidence is at an all-time low so come October it’s hard to see how consumer confidence will pick up if taxes are being raised,’ he said.