Friday, Dec 08, 2006

Crash Gordon's 4 trillion tax fuelled spending spree

Torygraph.co.uk: Brown launches green tax grab as he sinks even further into the red

He may have delivered a punchy Commons performance ... but the numbers buried in the Pre-Budget Report told a very different tale. Quite simply, they said, the Chancellor realised that he had run out of money. John Butler, the UK economist at HSBC, said: "He has shown quite clearly that rather than cutting spending he's going to raise taxes. It's not about redistributing income, since barely none of this money is being passed on to anyone else.

Posted by paul @ 12:43 PM (482 views)
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3 Comments

1. denzil said...

Ah it's that man Edmund Conway again.

""The key fact here is that despite the fact that he has raised his revenues from tax increases and despite the favourable effect of stronger economic growth, he is also having to raise his borrowing forecasts."

And in addition to the above this article from the Times sums things up:
-------Start
According to Moving Britain Backwards, by Keith Marsden, the Chancellor has increased his revenues from income tax from 74 billion in 1996 to 136 billion this year by not increasing tax allowances in line with rising earnings. In total, Mr Brown has more than doubled the tax take, from 219 billion in 1996 to 486 billion this year, an increase of nearly 9,000 per household. The money has been used to increase public sector employment by 700,000, including an extra 27,000 tax collectors.
----END
Source Times Online Dec 4th 2006
http://www.timesonline.co.uk/article/0,,2-2485868.html

Brown is a joke and seems to live by the mantra that if you tell people that you are brilliant often enough then they will start to believe you, or at least journos do! The British public need to wake up to the man that they could potentially vote as PM.


Brown's financial mismanagement in many ways is identical to that of the general public during his tenure.

Friday, December 8, 2006 03:48PM Report Comment
 

2. paul said...

Yes, the parallels between Crash Gordon's money management and the general public's is frightening.

Difference is that he probably sees the public like sesame seeds - the more he squeezes, the more comes out. I suspect however that the public in turn are squeezing their own finances to pay for his.

Friday, December 8, 2006 04:25PM Report Comment
 

3. the bald man said...

Crash Gordan is building a legacy for all of us. No pensions, huge government defecit, some of the highest taxes in Europe, an individual debt mountain

Friday, December 8, 2006 05:18PM Report Comment
 

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