Friday, May 30, 2008
Whatever he says, Brown needs oil to stay high
MoneyWeek: Whatever he says, Brown needs oil to stay high
Gordon Brown makes much of wanting to get oil prices down. But he's not being entirely truthful - a fall in oil prices would be disastrous for him.
Posted by damien @ 03:00 PM (536 views) Add Comment
5 Comments
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1. renting2 said...
If GB's tax strategy is truly green then he won't flinch at the extra pain put on the economy as it will force people to change their ways, very quickly. He will therefore put the case strongly saying that we must adjust to save our planet and that global price increases will just force the pace.
If, on the other hand, the strategy is about milking energy for tax purposes the he will try to be seen lowering the cost and, if he has the infuence (which I doubt), he will get the cost down so that people DO NOT change their ways therefore ensuring a continuing flow of revenue into the Treasury.
Take your pick.
2. paul said...
I think the latest revelations about Macmillan's stance on tobacco should shed some light on this
Why Macmillan refused to tell us smoking was harmful
3. Maddison said...
Oil price effects on the economy are very complex. An additional 1bn is actually not alot in the grand scheme of things as the BOE and NR has shown. Education budget is £65bn pa NHS some £120bn pa + all the others defence, roads, housing, police etc etc. I think the total tax take is some £300bn pa
4. jack c said...
Have a look at Gordon's cunning plan see news.bbc.co.uk/1/hi/business/7427072.stm - Fuel poverty plan at a glance
Remember S2r1's information war
It could be that they can maintain the high oil price by simply subsidising those at that bottom of the income scale.
5. alan said...
Gordo has made much political capital from asking Saudi Arabia to produce more oil so the price goes down.
If anyone can get the Saudis to produce more, it must be George Dubya Bush. The USA is propping up the royal house and has been doing so for years. They sell them training courses for interrogation to fighter planes.
It's not in George's or Gordos interest to get a result when they have a scapegoat for their failed policies - which is a most welcome distraction.