Wednesday, March 21, 2007

Buggered Budget

The Gobblin' King: an utter cunt out to waste our cash and screw the poor. Will he really be the next PM?

Would anyone like to bet that the newspaper headlines tomorrow will not feature the following?
Brown doubles income tax for those earning under £10k!

Because that's what the Gobblin' King has done, the wee, half-blind, Scottish fucker.

It started with Tony Blair denying the truth, as normally-worth-ignoring Richard Murphy points out. Ming Campbell asked the following:
How can the prime Minister be happy with the taxation record of his Party over the last ten years when the poorest in the UK pay a higher rate of tax than the richest? How can that be just?

Blair's reply implies that the man has just quite simply given up even attempting to tell the truth.
That’s not true. The poorest do not pay tax in this country.

Murphy comments thusly:
It’s staggering that after 10 years on office he doesn’t realise that what he said is wrong and that Ming Campbell is absolutely right. The data is here - published in Parliament. The lowest decile pay 42.6% of their income in tax. Their average income is £8,376 The highest decile pay just 34.9%, less than the fifth to ninth deciles it should be noted. Their average income is £84,357.

So everyone has got to be delighted with Gordon Brown's 11th Budget which basically simply shifts the cash around a bit. And, essentially screws the low paid.
Gordon Brown is cutting the basic rate of income tax by 2p to 20p from April 2008 in a surprise move at the end of what is likely to be his last Budget.

But the chancellor also scrapped the 10p lower rate, which critics say means most people will not be better off.

Yup. He has basically doubled tax for anyone earning under £10,000 and so provided even less incentive to go to work. Of course, as long as they can wade through the forms, people will probably get this back in tax credits; and this, of course, makes yet more people dependent on the state and thus more likely to vote NuLabour. What a disgustingly cynical ploy, from this devious, Scots bastard.

As The Dude points out, you will have to be earning about £18,000 before you are actually better off under these measures.
Basic rate tax cut to 20% from 22% Hooray! But the starting rate of 10% has been abolished. Boo. Which means that (assuming personal allowances would have gone up anyway) someone on £10,000 pays an extra £162.50 in tax. He may get that back in tax credits, but the "cut" in income tax isn't a cut until you earn around £18,000 a year.

More disincentives to work for the low paid who already suffer obscene marginal tax rates - a point Cameron made well.

I'm better off by around £150 per year, but I still think he's a bastard.

He also cut corporation tax from 30p to 28p, while this year's 2p fuel duty rise will be delayed for six months.

Well, yes, he has cut Corp Tax, except that he's raising it for small companies.
Tax rate on small companies to be raised in three stages from 20p this year to 22p in 2009.

Great. Look, I can't be arsed with looking at it in detail: the fucker has put 11p on cigarettes! Oh, and 1p on a pint. I'm off to the pub before that one kicks in...

Suffice to say that the tax burden has shifted yet more heavily onto the poor. I do wonder what Polly will have to say about that. I am looking forward to her reaction and I will, I promise, fisk that one...

All of the main details are on the Beeb's roundup.

More from Dizzy, Matt Sinclair and Wat Tyler.


Man in a shed said...

Odd that the BBC keeps headlining 2p of income tax - not end of the 10p rate or the further increase in national insurance.

But your right the devil will be in the detail.

Mark Wadsworth said...

It is vital to mention that tax credit withdrawal rate has gone UP by 2% - according to Stumbling& mumbling (so it's almost certainly true).

Neal Asher said...

11p on cigarettes and still this wanker has not heard of Prohibition. I bet the smugglers will be rubbing their hands together in glee. Hey, you do know that it's possible to order your cigarettes over the Internet, from abroad, as gifts? You buy 200 cigs for your girlfriend and vice versa.

savanarola said...

Ole Stumbling and Mumbling has a brain on him and he uses it. Perhaps he can debunk this self created myth that Brown in some way is responsible for the 59 quarters' growth etc etc. The FTSE poses an interesting question. FTSE has not made any progress under Brown. Is this a record? And if so what is the FTSE trying to tell us.

working class & proud said...

Blair is right - the poorest don't pay tax, because you need to be working to pay tax.

Which is a back-handed way of saying "Got a job have you, well here's fucking tax bill to teach you a lesson, cunt"

Oh yeah? So what has happened for the last ten years, exactly?

Over at the ASI, they are posting some of the winning entries of the Young Writers on Liberty. One does not want to put such keen minds off,...