March 22, 2007

Gordon Brown's Budget. And some cheese.

Gordon and Cheese

A 2p TAX CUT!!! And the scrapping of the lower rate of income tax to cancel it out.

A BETTER DEAL FOR BUSINESSES!!! And an increase in corporation tax for small businesses.

AN INCREASE IN CHILD TAX CREDITS!!! And a change in the threshold so that you’ll get less.

A TAX CUTTING BUDGET!!! And firm promises that taxes will actually go up in future years.

CASH BORROWING IS DOWN!!! Except for last year, but I won’t mention that.

THE LOWEST INCOME TAX RATES IN DECADES!!! And the highest stealth taxes ever, to make up for it.

A BUDGET THAT LOOKS TO THE FUTURE!!! Ah… yes, he got that bit right. Half of the measures he introduced won’t actually start until next April. Howzat for the next Chancellor, eh?


- 3 comments by 3 or more people Not publicly viewable

  1. Hamid Sirhan

    It’s at times like this when I miss the Major government….

    Oh wait, no it’s not.

    22 Mar 2007, 15:21

  2. i c what u did ther

    22 Mar 2007, 15:57

  3. Christopher Hinds

    Chris,

    You missed that in the 10 years that Brown has been Chancellor he has increased the tax thresholds by the rate of inflation (typically 2%) and not the rate of rise in earnings (3.5%). As a result in true terms the rate of income tax has risen by 1.5% or so every year because of this. So really we’re just cutting back to the tax rate of last year effectively

    22 Mar 2007, 16:02


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