Tuesday, 13 May 2008

10p tax - See you next year Darling?

OK, Darling has announced his fix for the 10p tax fiasco. This apology patch bribe is welcome news for around 4 million of those ripped off by Darling's first budget. However there are a couple of problems with this fortuitously timed solution (by-election?):

For a start this will cost £2.7bn. Where is it coming from? Darling is going to borrow it. So much for "Tories and their unfunded tax cuts". And we are already in serious debt.

Rather than helping out the 5.3 million people who needed help, everyone earning up to £40,835 will be £120 better off - except, that is, for over a million of the lowest paid.

George Osborne stressed Alistair Darling's announcement was a one-off payment rather than a long-term plan to compensate those hit by the axing of the 10p tax rate.

Let's summarise for those Labour supporting idiots who are crowing about this: Brown and Darling are only responding to their own cock-up. Over a million people are still worse off. If Brown had not been forced to act on this - he would not have. This is a one year fix - what about next year Darling? Or the one after that? Why increase the national debt by £27bn to reduce the tax burden on 16 million of those not hit by the last budget?

Please don't tell me anyone is falling for this arse saving, electioneering, fob off.

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