Wednesday, May 14, 2008

Brown spends £2.7 billion of tax payers money clear up his own mess

Gordon Brown pays £2.7 billion to end 10p tax crisis

In a move to counter a back-bench revolt the chancellor performed one of the biggest U-turns in modern times by borrowing £2.7 billion to patch up the mess created by Brown. Analysts point out that raising the £2.7 bn will have to be paid for by additional taxes or cuts in public spending. Regardless of the massive cash injection 1 million of the lowest rate tax-payers will lose out as a result of the abolition of the 10p rate. Cynics could look at the Darling's statement as the tax payer being asked to pay for Gordon Brown political survival or a sweetener in the face of the Crewe & Nantwich by-election. Alternatively the prime minister is starting to listen. Whichever way you chose to view it, the whole mess has been created by astoundingly poor decision making by the Gordon Brown

Posted by denzil @ 12:22 PM (696 views)
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5 thoughts on “Brown spends £2.7 billion of tax payers money clear up his own mess

  • What a big Brown smelly mess.

    Can someone remind me why the Crewe and Natwich by-election is such an important one?

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  • tyrellcorporation says:

    ‘Can someone remind me why the Crewe and Natwich by-election is such an important one?’

    …Because Labour haven’t lost a by-election to the Tories for 20 years (or something like that). A defeat will be the final nail in the coffin for Brown and that is why he deems it necessary to borrow billions to bribe the electorate – but it won’t work IMHO.

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  • Quote : “But Darling it’s all poo-poo”

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  • According to a comment on Radio 5 this morning, 75% of the 2.7 billion will be paid to people who weren’t going to lose money in the first place.

    “****-up” and “Brewery” spring to mind – yet again.

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  • Brown & Darling = Stan Laurel & Oliver Hardy at their best

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