Friday, Jun 02, 2006

Tax Free Day Tomorrow!

Daily Mail: Gordon Brown and the great tax robbery

Tomorrow, Britain's working men and women, who toil for the longest hours in Europe, can finally heave a sigh of relief. For it marks the milestone in the year when we stop working for the taxman and start earning money for ourselves.

Posted by jason @ 01:23 PM (506 views)
Add Comment
Report Article

5 Comments

1. The Bald Man said...

What about all the money he has extracted from the housing market?

Friday, June 2, 2006 03:23PM Report Comment
 

2. uncle tom said...

- more precisely, the tax receipts from people spending money they havn't got, but have raised through equity withdrawal, and of course, stamp duty.

Like the USA (but arguably worse) we have a national budget deficit when tax receipts are unsustainably high - partly due to people (and government) spending money they havn't got, and partly due to the impending demise of North Sea oil as a cash cow.

Moreover, with millions of baby boomers coming up to retirement, there is no reason to suppose that government spending will fail to rise further, unless there are major spending cutbacks.

Government spending cannot run ahead of tax income for ever, and if they do not correct matters quickly (and painfully), the economy will begin to correct itself - we will enter another era of high inflation, high interest rates and high unemployment - or 'stagflation'.

However, it is probably too late already. Immediately postponing the retirement of all public sector employees to at least 65 is an essential first step to sorting matters, yet there's no prospect of this government having the courage to deliver.

It's an almighty mess that could have been avoided - let no-one ever forget who was responsible.

Friday, June 2, 2006 07:27PM Report Comment
 

3. This comment has been removed as it was found to be in breach of our Blog Policies.

 

4. This comment has been removed as it was found to be in breach of our Blog Policies.

 

5. This comment has been removed as it was found to be in breach of our Blog Policies.

 

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Username  
Admin Password
Email Address
Comments

Main Blog | Archive | Add Article | Blog Policies