Well mercy me! Could it be that Alistair Darling reads my blog. Certainly if he does as is suggested here and puts up the top rate of tax for those earning over £150,000 then, even if it didn't get it from me I will be very pleased. Its the right thing to do and will very much send the right messages of support and commitment to those who are struggling.
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Wishing Everyone a Happy Christmas
18 hours ago
2 comments:
I'd agree. I would much prefer to see a 50% rate however and i'd have been tempted to start that at 100K. When Darling outlines how he intends to balance the books in future years it must be the rich who are to pick up the tab. They more than anyone else have benefitted by a Labour government and its pay back time.
It's going to be a very interesting pre-budget report on Monday. I think this is the most important day in the past eleven and a half years of Labour government. The Chancellor (really Brown himself..) will quite rightly give the required fiscal stimulus but unless the banks stop their renogiation of small business banking terms a lot more folk than necessary will lose their jobs. So how will they get the banks to return to 2007 borrowing levels as they agreed when gladly accepting the taxpayer bailout? Nationalisation?
Economically the statement is important obviously but very much politically also. Get it right and it's game-on for the next election that i expect early next year.
The Tories have been outed as false progressives with their 'Let the recession take its course' outlook by doing nothing.
Thanks Kenny. I am with you. So much of economics is about how we feel and the budget statement managed, at least in part, the achieve the right feel good factor. I do wonder if we could have spent at least some of that £12..5b on something other than £2.50 in £100 which doesn't quite get to the nub of the problem, but at least it will give some of the confidence needed for folk to keep feeling ok about spending.
Ewan
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