The British Chancellor and future Lord Osborne has again shown his sense of irony to his fellow MPs and to the country.
Having said that he will tax the richest to distribute to the poor, he may have forgotten his motto when calculating the costs of his cuts to the poor. According to the fiscal experts of the Institute of Fiscal Studies (IFS), an independent self-governed body, the cuts are "regressive" and "not progressive" as the Government would have liked it to be. In other words, regressive means proportionally taxing the poorest more than the richest. Last August, the IFS had already stated that the budget was hitting the poorest hardest to the fury of the Treasury and the deputy PM, Nick Clegg.
It must be therefore slightly embarrassing for the current Chancelor to be rebuffed twice in less than three months on his main stance by the IFS.
Time will soon say and possibly prouve that the first decisions of the first Tory-Lib Dem government since WW2 were more ideological than economically orientated.
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