Budget is 'timid' says Close

12.00.00am BST (GMT +0100) Wed 9th Apr 2003

ALLIANCE Finance Spokesman Seamus Close MLA has described today's Budget by the Chancellor as "timid and sleekit".

Mr Close said: "The fact that the Chancellor did not change tax allowances - not for the first year - effectively means that yet again virtually everyone who is working and paying tax will pay more in the current year.

"The stealthy Chancellor continues to stick his hands in our pockets and the impact around the margins could be quite painful. In addition, the one percent increase in National Insurance, which was announced last year, is only starting to bite this month. It is clear that the vast majority of people are going to have less take-home pay.

"The Chancellor also appears to have done little or nothing to assist small businesses in Northern Ireland, which are the backbone of our economy. These are increasingly drowning in paperwork as they are unpaid tax collectors and social workers.

"The disincentives to creating employment are rapidly outweighing the incentives."