Gordon Brown refuses to rule out VAT increase
Despite the fact that Gordon Brown has been constantly on the attack against David Cameron and a proposed plan to increase VAT, which has been rejected by the Conservative party, it seems that Labour has its own ideas about VAT. Today's manifesto released by Gordon Brown claimed that the Labour Party would not increase income tax in the next Parliament although he refused point blank to rule out a potential increase in VAT.
While no political party has 100% ruled out an increase in VAT it is the hypocrisy of Gordon Brown which is catching eye of many. He has been constantly accusing the Conservative party of having secret plans to increase VAT when in fact it is the Labour Party which refuses to rule out a VAT increase itself and would appear to have plans of its own.
Whatever the situation regarding VAT, income tax or any other tax in the UK there is no doubt that taxes and tax income will need to increase in the next Parliament and beyond. The UK budget deficit is still running at over £160 billion and the UK national debt is set to push well over £1 trillion. Against this background there is no way that any future government can depend upon economic growth to bail out UK finances and we will need to see fund raising measures brought in sooner rather than later.
Share this..
Related stories
Public sector job cuts could hit 750,000
As we approach voting day in the general election there are concerns that no matter which party wins the election we will see potentially 750,000 job cuts in the public sector. This despite the fact that all three of the main political parties have been unwilling or unable to put a figure on potential job cuts in the public sector but many Think Tanks have issued their own reports. A potential...
Read MoreAlistair Darling admits that banking super tax has failed
Former Chancellor of the Exchequer Alastair Darling has this week delivered a speech suggesting that his "banking super tax" which was supposed to hit those receiving bonuses in excess of £25,000 a year has effectively failed. He believes that due to the very loose wording of the regulations it was particularly easy for many of the high profile financial companies to potentially delay any payment...
Read MoreAre the unions now flexing their muscles as we approach the election?
The last few days has seen the Labour government in detailed talks with UK unions over potential public sector service cuts and employment issues for the future. Despite the fact that the UK budget deficit will hit £175 billion this year and UK national debt is over £1 trillion it seems as though the UK unions are flexing their muscles in return for supporting, both financially and practically,...
Read MoreWhen will the government reorganise the public sector?
The weekend newspapers are full of suggestions that the UK government is still paying substantial bonuses to public sector workers, many working in departments which have been at the centre of various scandals over the last few months. It has also been revealed that literally thousands of public sector workers have been made redundant, with the relevant redundancy packages made available, and then...
Read MoreGordon Brown and Alistair Darling clash on tax cuts
As Gordon Brown gets ready to return from the G20 summit it seems as though he has plans to introduce tax cuts for Christmas. If the rumours are correct it looks as though the less wealthy will be the main benefactors of a potential £15 billion giveaway although there appears to be some friction between Downing Street and the Treasury.
Alistair Darling has finally expressed his con...