The Government's increase in taxation is a "complete distortion", Liberal Democrat Treasury spokesman Vince Cable says.
Cable claimed the planned tax increases unveiled in Chancellor Alistair Darling's Pre-Budget Report (PBR) would be spent by the Government rather than used to pay down the nation's deficit.
Cable mocked Darling by suggesting the PBR was "good for bingo and boilers", referring to the Chancellor's decision to cut bingo duty from 22% to 20% and the introduction of a scrappage scheme for old boilers.
He also expressed concerns over the one-off 50% "supertax" on bankers' bonuses of £25,000 or more, questioning how it would be enforced and how the Government would prevent banks from rolling bonuses into salaries.
'Right thing to do'
£69m spent on upgrades
European fintech market 'underserved'