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

THE MANUFACTURING STRATEGY FOR WALES

Last night, I received the following comment on the previous post relating to a piece I had written back in early 2007 about the state of the manufacturing sector in Wales. "Dylan, you seem to be ignoring the fact that manufacturers in Wales have written the manufacturing strategy. Small and large manufacturers, all represented at the Manufacturing forum, have co-written this strategy. WAG has recently supported this strategy and have funded a co-ordinator with resources. Manufactures are happy with this progress as they are following the strategy they wanted. I know that the Conservatives have attacked the strategy as they seem to think that WAG wrote the strategy. They couldn't be more wrong. The Manufacturing Strategy was written by manufacturers, for manufacturers and is supported by WAG. If you don't agree with this, then I can invite you to the next Manufacturing Forum and you can explain to the manufacturers how their strategy is wrong....I appreciate that there is
11 comments
Read more

INTRAPRENEURSHIP

Whilst we often consider entrepreneurship to be associated predominantly with new start-ups, larger firms - in order to compete effectively in fast-changing global markets - are adopting more innovative and enterprising approaches to management within their organisations. One of these approaches is the development of entrepreneurship within a corporate environment (or intrapreneurship). Research has shown that intrapreneurship is not easy, and there are considerable differences between an intrapreneurial and a traditional corporate culture, with the latter having an emphasis on a culture and reward system that tends to favour caution in decision-making. For example, large businesses rarely operate on a "gut-feeling" for the market-place, as many entrepreneurs do. Instead, large amounts of data are gathered before any major business decision is made, not only for use in rational business decisions, but also for use as justification if the decision does not produce optimu
Read more