Crisis budget is about saving Brown not the economy
Monday, 24 November 2008 08:01

Make no mistake, this crisis budget is about Gordon Brown's re-election and nothing to do with the economy. This is nothing more than a blatant attempt to bribe the electors. But at the back of it is the promise that taxes will rise. Those with any nouse don't need to be told that.

With government borrowing at around 100 billion pounds taxes have got to rise. The government does not have any money, all it has is the ability to tax us. That ability will be used brutally and relentlessly. Those who are old enough to remember previous Labour governments know it, and are shouting it from the rooftops, but a younger generation of politicians on the Conservative side does not seem to be shouting.

Those with the memories recall Dennis Healey and his oft quoted phrase about taxing "until the pips squeak" and those pips really did squeak. The income tax rate was 35%, that's not a misprint, it was 35%. It took a long time for later Conservative governments to reduce it and get the country back on track. While this was happening most of the current generation of politicians were in short trousers and shielded from it all. They need to read some recent history.

A VAT cut would be nice, but are we really going to pour into the shops and burden ourselves with debt or spend what we have to save a small amount when we can already get deals like Tesco's half price wine PLUS 25% off the discounted price in Tesco points? or M & S's 20% off everything?

Reductions like these are huge, and they are not causing queues at the doors before opening, so Brown's vote buying is hardly likely to succeed.

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