Skip to main content

£407 billion

That is the amount that the UK Government has said that it intends to borrow over the next five years in the pre-budget report.

Will it work?

Only time will tell but with unemployment rising, personal debts at record levels and house prices falling, will £2.50 saved on every £100 spent really make a difference?

I don't think so....

Comments

Anonymous said…
I dont think so either - did I hear him right about increasing tax on fuel
November 24, 2008 11:22 pm
Anonymous said…
they do better than tories
November 25, 2008 3:10 pm
Anonymous said…
We'll see my socialist friend
November 25, 2008 6:57 pm
Anonymous said…
Pre-Budget Report: Don't be distracted by Labour's move to tax the rich
Posted By: James Kirkup at Nov 24, 2008 at 11:41:01 [General]
Posted in: Politics , Three Line Whip
Tags:fiscal squeeze, Income Tax, Pre-Budget Report

Unless it directly affects you, do not become fixated on the prospect of a higher rate of income tax on the highest earners. It's a side-show, a convenient distraction from the real issues here. For how much will it raise? Two or three billion quid? That is, to be frank, not much to a Government that's proposing to push borrowing well over £100 billion a year.

Yes, there'll eventually be a squeeze on public spending. But will that and a 45p tax rate going to be enough to fill the gap and reassure the markets? Not a hope.

The real tax rises to watch aren't those that affect people on £150k. Our attention should be on the taxes that will fall on everyone else. And I have a suspicion that to pay for what we are offered today, they will have to fall very heavily indeed. I repeat, no matter what the political passions it arouses and the economic questions it raises, do not be distracted by Labour's move to tax the rich. It's the plans to tax those who aren't rich we need to focus on today.
November 26, 2008 8:12 pm
Post a Comment

Popular posts from this blog

THE IMPORTANCE OF FRANCHISING

When we talk about start-ups and entrepreneurship, rarely do we discuss the potential of franchising not only as a way of establishing new ventures in the economy but also as a method of growing existing businesses. According to the British Franchising Association, franchising is the granting of a licence by one person (the franchisor) to another (the franchisee), which entitles the franchisee to own and operate their own business under the brand, systems and proven business model of the franchisor. The franchisee also receives initial training and ongoing support, comprising all the elements necessary to establish a previously untrained person in the business. This enables individuals to start their own businesses without having to develop their own ideas and utilising an existing brand and established market. Of course, whilst each franchise business is owned and operated by the franchisee, the franchisor controls the quality and standards of the way in which the business is
Read more

Change your business through change

All business organisations, especially entrepreneurial small firms, must cope with an ever changing business environment. However, small firms have a very limited ability in being able to control and relate to changes in the environment, although this can depend on the context of change. For example, if a major customer changes increases its order, the entrepreneur should be able to predict events and actions with regard to the timing and consequences of such a change and forecast any changes in the required resources and cashflow. Given this, the entrepreneur can undertake rational short-interval planning activity in order to underpin organisational control. However, much of the change facing business today is largely unpredictable in terms of its timing and its consequences. In other words, such change is open-ended, with it often being unclear what is changing or why it is changing. For example, the effect of the 9/11 bombing of the World Trade Centre was largely unexpected and its
Post a Comment
Read more

THE IMPORTANCE OF THE CREATIVE CLASSES

One of my favourite academic books of the last two decades must be the “Rise of the Creative Classes” by Professor Richard Florida.  This was one of the first detailed studies of the growing group of individuals who use their creativity and mental labour to earn a living and not only included those in arts and entertainment, but also people working in science and technology as well as knowledge-based professions such as healthcare, law, business, and finance.  Fast forward to 2022 and Professor Florida has written an updated report on the creative classes although he and his team now identify a different type of individual who is taking full advantage of the growth in digital platforms, social media, and online marketplaces.  Such ‘creators’ are defined as those who use digital technology to make and publish unique creative content, whether in the form of video, film, art, music, design, text, games, or any other media that audiences can access and respond to.  They also make their mon
Read more