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Sterling has today picked up sharply after weeks and weeks of pressure and selling by investors. This comes just ahead of the MPC meeting to decide their next move on UK base rates and until just a...
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Saturday 19th July 2008
As the current Labour government lurches from crisis to crisis many are now starting to turn their attention to the Conservative Party and the prospect of David Cameron being voted in as PM at the next general election. Will the Tories be able to offer a lifeline to struggling UK citizens? Will they do any better than Labour?
Historically Labour has always been a high tax party and the Conservatives have always been a low tax party, but the next few years may see a different Tory animal emerging from the shadows. No matter what anyone says it seems inevitable that due to the massive increase in government spending (£25 billion so far this year) there is little or no chance of any tax cuts over the next 3 or 4 years. We may see some tinkering with the rates and types of taxes, but net cuts will be out of the question until the government coffers are on a more even keel.
A cautious Conservative party may not be what many people expected, but just like the Labour party reinvented themselves with Tony Blair, the opposition is going through something of a change under David Cameron. We will all be feeling the affects of the economic mismanagement over the last decade for some time to come – we will not forget Gordon Brown! |
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