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Wee Georgie Osborne - Liar Or Just Can't Do His Sums?

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Treasury officials said that the extra billions meant to flow into government coffers were based on expectations that tax revenues, which fell by £12bn during the recession thanks to unemployment and the scrapping of City bonuses, would return to previous levels and then outstrip them as the economy starts growing again next year.

Yes, how could Osborne be so stupid not to see this? :lol:

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Treasury officials said that the extra billions meant to flow into government coffers were based on expectations that tax revenues, which fell by £12bn during the recession thanks to unemployment and the scrapping of City bonuses, would return to previous levels and then outstrip them as the economy starts growing again next year.

If you believe this I know why you call yourself "happy". The economy is going to be bigger than it was in 2008? Dream on...

As for the 50% rate bringing in more revenue, well there's a rude awakening coming on that front too.

Fact is that regardless of this incident tax rises are on the way, and to the basic rate.

Edited by bogbrush

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If you believe this I know why you call yourself "happy". The economy is going to be bigger than it was in 2008? Dream on...

As for the 50% rate bringing in more revenue, well there's a rude awakening coming on that front too.

Fact is that regardless of this incident tax rises are on the way, and to the basic rate.

http://en.wikipedia.org/wiki/Laffer_curve

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which City Bonuses have been scrapped? I thought Gordon Brown was OUTRAGED by their levels.

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Well, there are now 2 budgets aren't there? There is the one that the Labour Chancellor gives to the house of commons, then there is the real budget, full of tax rises and other things that the government does not actually want to reveal, which is released as a full 1000 page document. A great example was the abolition of the 10p tax band, that was strangely absent from the budget speech.

Perhas Osborne is just highlighting to us things that our corrupt government neglected to tell us when they should have.

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