Talking to the BBC Radio London Breakfast Show, Mark Littlewood described the Autumn Statement as "feeble". The Chancellor is admitting that he will not come close to hitting his economic targets, which comes as no surprise. It has been obvious for some time that because of a lack of growth, not enough tax revenue was coming in, Littlewood said.
A worrying part of the Autumn Statement is the 40p tax rate that was originally designed to catch the very rich, but is now being used to tax the richest fifth of the country. There is a danger of moving more and more people into the 40p rate of tax, Littlewood argued.
George Osborne is now very reliant on economic growth suddenly arriving in the UK. Instead, he should be doing all he can to stimulate the economy, rather than kneeling and praying for it.
Listen to the full interview here . Segment starts at 1:22.40.