More questions about UK finances but no answers
The main political parties have been campaigning tirelessly on the TV and in newspapers this week as we approach the general election. However, despite more and more questions about the UK budget, UK government finances and the UK economy we are seeing fewer and fewer answers from the main political parties. It seems that all politicians at the moment are answering a question with another question or using the moment to talk down their opponents.
It is wrong to suggest that the UK government is the only political party refusing to come up with answers regarding the UK finances, with the Conservative party also looking to answer many questions with yet more questions. The truth is that the UK tax system will change after the budget because there is a need to increase taxes while at the same time cutting back on public sector investment.
Whatever the politicians may have you believe regarding UK finances, taxes will go up and public sector spending will go down. Depending upon which party you support, the Labour Party is likely to increase taxes more than the Conservatives while the Conservative party is likely to reduce public sector investment more than the Labour Party. As they say, the choice is yours!
Share this..
Related stories
Conservative party embarrassed by non-domicile revelation
Zac Goldsmith, the son of serial entrepreneur Sir James Goldsmith, will be standing in Richmond Park and North Kingston as a Conservative party candidate. However, the Tory party has been dragged into a non-domicile situation with the revelation that Zac Goldsmith, while paying his relevant taxes in the UK, actually has a non-domicile status. Those who follow the political scene would be well a...
Read MoreUK set for massive tax rises
The National Institute of Economic and Social Research has today issued a paper suggesting that UK taxes will have to rise by the equivalent of six pence on the basic income tax rate to reduce the UK budget deficit. There is also a growing belief that the economy is by no means over the worst and rising unemployment and sluggish trading could have a major impact over the remainder of 2010. Desp...
Read MoreCould bankers take away the pressure from David Cameron?
There is much intrigue and speculation regarding the fact that Vince Cable has been given a very long leash by the UK coalition government having issued a number of provocative and in some cases demeaning statements over the last few days. He has attacked the UK banking arena suggesting that "spivs" are still very prominent and he has also upset the apple cart with open criticism of the coalition...
Read MoreIs the Office for Budget Responsibility dead in water?
The shock departure of Sir Alan Budd from the newly formed Office for Budget Responsibility (OBR) is set to cause a major headache for Chancellor of the Exchequer George Osborne. David Blanchflower, one of the leading independent economists in the UK, believes that no credible name would be willing to take the place of Sir Alan Budd after criticism that the office is not actually independent of th...
Read MoreUK construction sector gets off lightly
Despite rumours of a £200 million fine for the UK construction sector after a cartel investigation confirmed widespread illegal activity within the industry, many believe that the UK construction industry has got off lightly with a cumulative £129.5 million fine. The fact that over 100 companies were allegedly involved in the cartel lays bare the problem which the authorities had in trying to st...
Read More