Tuesday, May 13, 2008
Yet more U turns
BBC: Basic rate taxpayers to get £120
Chancellor Alistair Darling has put up the personal tax allowance by £600 - meaning every basic rate taxpayer will pay £120 less tax this year. Mr Darling, who said the package would cost £2.7bn, added that the 40p rate threshold would change so that higher earners' tax bills would be unchanged. The Commons announcement came as part of Mr Darling's package to help those hit by the axing of the 10p tax rate.
Posted by jack c @ 04:08 PM (611 views) Add Comment
13 Comments
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1. Ijjhall said...
I just don't believe this...the govt is skint and now on top of the cut to 20p in the pound ( to 'wrongfoot the Tories' that accompanied the axing of the 10p band they are now giving away another 2.7 billion !! All rushed out before the Crewe by Election which would sink Brown if heavily lost..Brown's 'tax cutting' budgets were notorious for falling apart once proper scrutiny was allowed after the initial media splash and in the unlikely event of this being the exception they will already be scheming a way to get it right back...
2. jack c said...
"Brown's 'tax cutting' budgets were notorious for falling apart once proper scrutiny was allowed after the initial media splash" - agreed, once I have the full implications from Price Waterhouse Coopers I'll post a follow up
3. paul said...
4. enuii said...
Pointless, what this country needs is a simple tax system not endless fiddling and frippery frappery from spiv politicians.
5. alan said...
Signs of panic, I think.
The Chancellor is being sucked into the bumbling mess left by Blair and Brown.
By the time they all get kicked out we will be bankrupt.
Pain ahead!
6. jack c said...
First time ever that a budget has been re-opened, effectively we have had a mini budget in May 2008 to correct a political mistake. I just cant see how Gordon B will survive as PM
7. Ash4781 said...
Inflation hits 3% and out come the tax cuts!
8. Fed Up said...
£2.7 billion more onto the national debt all to bribe the electorate of Crewe.
9. quiet guy said...
@enuii
"what this country needs is a simple tax system"
Bullseye! I couldn't agree more. Brown seems to be addicted to endless meddling with the minutiae of the tax and benefits system. I find his taste for benefits means testing particularly loathsome.
10. shipbuilder said...
Why did no-one ask the obvious question - why didn't he just bring back the 10p tax rate? Can't believe that the Labour back-benchers could let him away with this one - they need to dump Brown ASAP.
11. robh said...
@shipbuilder
I was thinking along those lines too.. will you share? £1.3bn each and a little gratuity for Mr D
Maybe HPC bloggers should set up a 'think tank'
12. bfskinner said...
Shipbuilder@8
a fair point. I'd have much prefered to see them admit a mistake, apologise and reintroduce the 10p rate. At least it would have shown honesty and some balls for doing it in the face of the inevitable onslaught. They are probably trying to avoid looking like they have done a u-turn, pretty unsucessfully though.
Doesn't say much for Osborne's savy that he didnt ask the question either
Perhaps I am niave in expecting honesty and intelligence from my elected officials lol
13. str 2007 said...
Another 2.7 Billion spent, I did say recently to watch out as Gordon Brown is a desperate and dangerous person at present.
Expect something else in the future.
If it doesn't work then someone else will have to sort the mess out.
GB has nothing to loose.