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Labour spin machine again targets Sir Fred Goodwin

In a blatant attempt to offset any potential negative press comment regarding the reduction in UK base rates and the introduction of quantitative easing, a Labour MP has today tabled a motion to introduce a new tax charge. John Mann has suggested that for those with pensions over £700,000 a year there should be new tax charge of 90% introduced which would reduce the amount received to around £70,000 a year. This is obviously targeted at Sir Fred Goodwin and shows the desperation to which the UK authorities have stooped to try and deflect any potential ongoing criticism of their role in this pension debacle.

While this suggestion may make the headlines and look good when the UK public read it tomorrow morning, in reality there is no chance of any such move becoming law. Indeed the UK authorities appear to have abandoned all hope of a legal challenge to the £700,000 pension which they readily agree was rubberstamped by their own representative in October last year. Yet again, business leaders and the UK consumer are calling for the UK authorities to drop this witch-hunt and get back to basics, i.e. saving the UK economy!

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