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While today’s decision by the Bank of England MPC was literally a no brainer it does not help the thousands of home owners who are struggling to make ends meet. As we read another report from the...
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Sunday 18th May 2008
While the Chancellor Alistair Darling took the brave and well received step of tackling the disastrous abolishment of the 10p tax band, it seems that things may get a little worse in the second half of 2008. Many experts feel that the move, which cost £2.7 billion, will need to be funded by higher taxes in the later part of 2008 and 2009. So what is happening?
Many observers feel that the government took a short term decision to reimburse the majority of those who lost out when the 10p tax bad was abolished, but will need to fund these changes in due course. The clever money seems to be on an increase in National Insurance payments which will impact on the whole business sector at a time when it can least afford it.
It seems as though the authorities were convinced that recent changes would see the electorate fall back in line on the side of the Labour Party, but polls since then have shown otherwise. It seems that whatever Gordon Brown does at this moment in time there is always an ulterior motive. The move to try and increase the standing of the Labour Party in the polls has backfired if anything. |
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