This week, George Osbourne rolled out The Budget. Norm described it as a budget he found “impossible to get angry about.” But I disagree.
The increase in the personal tax allowance is great, thumbs up there, well, on the most part. I’m not too bothered by the granny tax either, as state pensions have in fact gone up quite considerably in a time when many working people’s pay have been frozen despite the ever marching climb of inflation. Not to mention is that all that is happening is that their personal allowance is being lowered to match that of working people.
However, when it comes to the top tax bracket, it is nothing moe than a traditional Tory budget. There is little justification for giving 14,000 millionaires a tax break given the financial crisis we are in.
One of the clearest messages we have received from this government is that the previous one has left them with a huge hole in the budget and that strong austerity measures would need to be put in place. So, if it so important to plug the hole in the budget and pay back some of our borrowing, how can we afford to give tax breaks to the rich?
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Tags: economy, finance, government, tax, the budget
This entry was posted on Saturday, March 24th, 2012 at 12:40 pm and is filed under Religion & Politics, Thoughts. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.