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Realistbear

Brown's Budget All Set To Ring In Humongous Tax Regime

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http://www.abcmoney.co.uk/news/2020062189.htm

LONDON -
Chancellor Gordon Brown is all set to raise the tax burden on Britons to an all-time high
when he presents his budget on Wednesday, according to a new analysis by accountants Ernst & Young. The analysis predicts that the tax burden will be 37.6 percent of GDP in 2006 and by the time Brown presents his next budget, this will have increased to 37.8 percent.
“It’s an all-time high and we’re entering uncharted waters,” said Peter Spencer, an economic adviser at the Ernst & Young. “We know higher taxes help explain what is happening on Britain’s high streets.” The report said that the new tax increases are partly
because of the declining revenues from Britain's North Sea
offshore oil industry, which has brought in lucrative taxes for the government.

With the loss of NS Oil wealth the UK is destined to take its place as a medium sized member of the EU. The high house prices that have plagued this country for the past few years are coming to an end. Perhaps a permanent end. Without the natural resources what else do we have to justify oil economy house prices?

Starting with Gordon's next budget its reality time. Back to high taxes, big government, and smiling Chancellors handing out crumbs and taking back the loaves.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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