We're going to need a bigger box!

Gulp….

Tax Bombshell

Pre Budget report a kick in the goolies!

The outcome of todays PBR islike being told you can have a lovely chocolate bar today on the proviso that tomorrow someone is going to kick you in your goolies.

If that is the way the Government wants to treat the British public then the only kicking that needs to be doled out is one at the next election. If ever there was an announcement that was solely about jam today, this was it.

We can expect tax rises with a higher rate tax band. Some lovely higher NI contributions will be coming. Anyone earning over £40,000 will be worse off (that will be me) and before anyone tries to convince me I am rich when I take off my cost of travelling £7,500 and other bills I can show you friends who have a bigger disposable income who are on tax credits.

Forgive me – but you stick your chocolate bar as I know what’s coming my way later!

Is Socialism back?

I was always told that Socialism was all about taking as much moeny as they could from you and then when they couldn’t take anymore they would tell you have you should spend what you have left. Part of me fears that we are going down that road again

Lets take the decision to tax the "rich" because it send a great message out (according to the Labour Party). No mention of how it won’t cover the vast increase in public spending.

Then of course lets talk about what means someone is rich. I pay 40% tax, but after I have paid all my bills – including the £7k train fare to go to my job I am left with less disposable income than someone I know who is on tax credits. Interesting isn’t it.

I still have my own company in existence. Has the Labour party done anything to help me out in that respect? No. Why – Well they believe government creates jobs and wealth and not business.

My old sparring partner in Chesterfield Tony Benn will be so pleased!

Conservative Home believe the politics of envy is well and truly back

Thoughts on the Financial Stimulus

This stimulus won’t really have much effect. The growth in the past ten years is due to people borrowing figures like 20k against their rising house value to buy a new car, tv ect. Figures like a fiver or tenner a week don’t even come into the category of short change. Add in the fact that future tax increases will have to be announced so not to spook the market. People aren’t going to go out and spend if they’re heading into negative equity and are facing a tax hike in a year or two.
 
Labour having thought they’d abolished the economic cycle now think all these problems can be solved by giving people a couple of hundred quid. It’s a pathetic response and the longer they stay in denial, the worse the recession will be.

 

Great one liner….

I was lucky enough to be at the Spectator’s Parliamentary awards last week and had a seat next to Lord Lawson who was full of great anecdotes over dinner.

I asked him what he thought of Sarah Palin, and his response was.. " I love a good joke as much as anyone". Well it made me laugh anyway. More on my take on last weeks awards later.

Must watch video on climate change by Roger Helmer MEP

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