A QUESTION OF TRUST

Earlier today, Lord Mandelson thought that he would get away with his usual attacks on George Osborne after 23 leaders of some of the UK's largest companies wrote a letter in favour of the Conservative Party's plans to halt the planned increase in national insurance.

However, in stating that these vastly experienced businessmen had been the victims of "cynical deception" by the Conservatives, he has not only seen an instant rebuttal by some of the signatories but has now managed to get the British Chambers of Commerce, the CBI and five other organisations to back the Conservative policy on National Insurance.

So whose word would you trust?

The bosses of some of the top companies in the UK, including Kingfisher, Sainsbury's, GlaxoSmithKline, Mothercare, the Virgin Group, Marks and Spencer, Diageo, Harvey Nichols, Next and the easyGroup, or a politician who has already been thrown out of the Cabinet twice for personal and financial irregularities?

Of course, if Lord Mandelson wants to know where further savings on government waste can be found, he could read the excellent document produced by the IOD, which sets out a clear agenda for efficiency savings in the public sector. That demonstrates quite clearly where this government, and any future administration, can stop a tax on jobs and gets its own house in order.

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