Unfunded Tax Cuts - Hooray!
At last a policy from the government that Guido can support. Let us hear no more from Labour politicians about Tory "unfunded tax cuts". The government is going to have to go to the City to borrow the extra £2.7 billion...
117 comments:
Once again the government (and Frank F) has missed the point. It has left 1m (20% of the 5.3m original losers) low paid 10p losers financing a FURTHER tax cut for the middle paid as they have had their allowances raised. Oh dear Frank, not very old labour is it (but perhaps it is new labour?).
(Why not reinstate the 10%? Must have a few bob in VAT on fuel?)
Fuck me! It's taken them this long to appreciate the positive benefit of increased personal allowances. Does this mean we'll see the end of the ridiculously expensive and unnecessary tax credits fiasco in the future?
At least it now means that Osbourne can push the "significantly higher personal allowances/flat tax whilst abolishing tax credits" agenda and point out that the government seems to agree.
So 1.1 million people still lose out and it is raising taxes on the higher paid those in the 40% band contrary to what Darling claims.
In what way is this a good solution apart from getting NuLab out of a fix in C&N
That's Prudence fucked then.I thought sex in public was illegal.
Well they've spent £2.7bn of our money saving the Crewe and Nantwich by-election, helped by a local Tory party that were too dim to realise that this is exactly what Labour would do and thus pull the rug from under their feet. The Tories were leading on the 10p tax fuck-up, when they should have been leading on the REAL inflation rate which is currently 20% per annum. Thing is they are just as out of touch as Labour. What would Timpson know about the price of bread? Does he care that his S Class Mercedes costs 10% more to fill up than it did before Christmas?
We're not skint after all!
Three cheers for the SockPuppet!!
All tax cuts are by definition "unfunded" as tax constitutes the funds side of the tax and spend equation. The distinction should be "spent" and "unspent" or, in this context, "unplanned" and "planned". I applaud their decision to genuinely cut taxes, even if it was at gunpoint. More significant is that although higher rate taxpayers will not benefit from the tax cut (and why should they as they have already benefited from the reduction in basic rate tax) Darling has not chosen to recoup the £2.7bn by increasing the tax burden for higher rate taxpayers. This sends a clearer political message to me, but it is too late to buy my vote so fuck'em.
will Labour be declaring the £2.7 billion lone in its Crewe & Nantwich election expenses?
By doing this with a raise in the personal allowance he can, of course, make the "compensation" apply for 1 year only, by not increasing personal allowances in line with inflation next year.
Tax, Spend, print more money. Ahh the good old days. And what is the latest inflation figure?
It is one of the most cynical and shameless attempts at self-preservation that I have ever witnessed.
The devil will be in the detail - Gordon just loves detail (a great place to hide from reality).
I don't think it will save Crewe for them.
This will not turn the tide for Labour - they have plenty more troubles ahead.
The government is going to have to go to the City to borrow the extra £2.7
Perhaps the City Banks will have a whip around for the £2.7 billion, after all that is peanuts in comparison to the hundreds of billions that Alistair has put their way.
For his next magic trick, he's going to borrow it from Northern Rock
In Darling's statement he said
15. So, at a cost of £2.7 billion, I will increase the individual personal tax allowance by £600 to £6035 for this financial year, benefiting all basic rate taxpayers under 65.
16. This will mean that 22 million people on low and middle incomes will gain an additional £120 this year.
Shouldn't a £600 increase in your personal allowance make you £600 better off? Or is he admitting 22millions of people would have been £480 worse off without this?
Christ these shit-for-brains idiots are fucking useless.
It won't be a tax cut at all. In fact it will be a tax hike. Somewhere in the detail, once it's been worked through, you will find that actually we will all be paying more tax. And if they now accept that the tax thresholds should be increased, why haven't they been up till now and how come millions more popel are paying 40% (51% if you include NI) tax than would have been the case in 1997.
If the Tories, or anyfuckingbody, would just get onto the detail, now, simplify it and tell the story the C & N by-election will still be a loser for Zanu.
What he's done is taken out a loan in your name Guido and then tried to bribe you with it.
Its only a tax cut when the government starts doing less or costing less.
Otherwise its a bribe.
Well I thought I heard the Cyclops tell Fern that the government have money put aside for schemes like shared equity with first time buyers. Why cant he put his hand in that pocket to fund this?
The taxpayer is going to pay for Labours polling at Crewe to the tune of £2.7 billion! Nobody is better off for this change, lower rate taxpayers gain £120 this year only, just about the amount that Council Tax has increased, and if you commute to work, try a 15% increase in fuel cost, and so far 20% increase in food costs.
Frank Field used to command my respect, but by his U turn and subsequent interview on Radio 4 he is just another of the Cunts in Nu Liarbour!
Borrowing money to buy votes, a typical cynical new labour ploy. As Alan Sugar would say, any fool can hand out tenners all day, WHERE IS THE MONEY COMING FROM?
The City lending the Labour government £2.7 Bn in the middle of a credit crunch. I am sure Northern Rock will head the queue of willing lenders.
@Anonymous said...
// Well they've spent £2.7bn of our money saving the Crewe and Nantwich by-election //
And they've dumped £2.2 billion (borrowed?) into Northern Ireland as well, to buy DUP votes for 42 days detentions.
This govt is utterly corrupt. Utterly.
Anon - I wouldn't worry too much. It's all too late now, and I think they will lose the by-election regardless, as everybody now realises that the sole manifesto of ZaNu Labour PF is STAY IN POWER.
Gareth - you are not Gary Elsby of Stoke gone all posh? £600 additional allowance times the tax rate it would otherwise have been taxed by, 20% = £120. £2.7bn cost means 22.5 million beneficiaries - this must be the biggest by-election bribe in history!! The Labour Party will be sending out begging letters to all 22.5M asking for a 1p in the pound contribution, which would raise £27Million, which would save them from bankruptcy.
Read the small print!! and I predict Lord Field of Capitulation.
No doubt by the end of the week we will see where the cash will come from.Did I not read that the disabled are getting clobbered for a few quid each?.
Will this be Darlings bid for no10? as a real tax cutter?.
S`pose should be pleased for small mercies. However, why not cut spending to pay for it rather than borrow the money-cunts, making us, the taxpayer, pay in the long for the bastards election bribe.
Re FFs groveling apology to the head twating honcho this afternoon. Would you like to suck his master cock whilst you shit with that humble pie, get up off the floor nob end, my respect for you has just been flushed way down the bog.
Apologies are often the sign weakness, and you have just shown you self to be a 2 stone runt.
Just print some more.
note to alistair darling: well done! now you only have to find another 1000 billion pounds to fund the currently unfunded liability of public sector employees' pensions.
you fucking spastic.
ps you've left it too late for tamsin to benefit from this half baked measure.
all change at crewe.
excellent!
Time to show the electors of Crewe how much Darling's taxes on their cars will be.
If it takes one Lab MP's death to cause a U turn on personal allowances, how many somersaults would Darling Brown complete if there was another by-election pending?
As for Caroline Flint's little error, it just goes to show that NuLab are still incapable of handling the simplest data.
Am puzzled by Stanislav's lack of posts, has he gone to earn Euros rather than pounds?
Alistair is a fucking retard.
They fucked up the original tax cut, greeted by cheering Labourites, and they've fucked up this one.
http://news.bbc.co.uk/1/hi/uk_politics/7399057.stm
"the £600 increased personal allowance applies not just to basic rate taxpayers but also to those paying tax at a higher rate, I am therefore reducing the threshold at which an individual starts to pay tax at the higher rate by £600.
The net effect of these changes is that the tax liability of everyone that currently pays tax at 40 per cent will be unaffected by the increase in the personal allowance. For those brought into the higher rate, they will gain by up to £120 this year. "
In other words, the higher rate band has been cut from £36,000 to £34,800....
Thereby bringing more people into the scope of higher rate tax, unnecessary tax returns, and so on.
And of course anyone who earns their money through dividends (taxed at 10%) will actually end up paying MORE tax, because they get moved into the 32.5% band £1200 sooner.
Nice to see the "Beeb" parrotting the line that this will make the difference in the upcoming by-election in Crewe & Nantwich.
Two flaws in this argument:-
1. There's still 1.1 million not yet "compensated" - these being the ones earning between £6k -8k p.a
2. The actual payback isn't until September so nobody will actually have the money in their hands until AFTER the by-election
I like others was hoping for better from Frank Field - by apologising he'll just be labelled a "wimp". As he said "I allowed this to get personal at the weekend" - Frank it is personal we all hate Gordon for what he's done to this country over the last decade and I don't care if he hands out £50 notes by the bucketload at election time I still wouldn't vote for him
Wouldn't it have been cheaper just to give all those with a vote in the upcoming Crewe and Nantwich by-election the £120 than have to BORROW 2.7 billion to pay the whole country it.
That is what it is, a bribe.
Isn't there supposed to be a ban on this sort of eletioneering less than a fortnight before polling day?
"To make unfunded promises, to play fast and loose with stability (indeed to play politics with stability) is a return to the bad old days" - Gordon Brown
Ok so this one eyed festering semi corpse, & general all round cunt has borrowed 2.7 bil to pay back the pride of england to ward off leadership challenges.
If you hate freeloading, spasticated, dole scum you must hope it works.
It is quite small when you consider Darling is already borrowing £43bn this year, to add to the £530bn pile.
Interest payments on the national debt this year will be £31bn, excluding PFI, Northern Rock, the £50bn bank mortgage bail out. And this is all before we start talking pensions(a £1000bn liability)!
Let's pay off the national debt. Save ourselves £31bn a year in interest. And then hike the personal allowance to £20k.
Frank Field has now lost all credability. I wonder how Brown leaned on him?
Stupid fucker should of put a few thousand civil servants on the dole. Damn sight cheaper than borrowing money.
We'll see just how dumb the cunts of Crewe are if they vote for the horse faced Dunwoody bint on the back of a one off tax rebate.
What about next year you labour shits?
Why is he having the borrow this £2.7 anyway? With the price of petrol/diesel going up almost daily, the extra VAT he is raking in must cover some of this tax cut.
But let's be honest, it works out to only £10 a month, even the poorest paid aren't going to notice that in their pay packet. It won't even buy 2 packets of fags.
The ever balanced BBC had this to say about it just now 17.45pm BBC Radio 1 Newsbeat. Bubbly girl announces
" Yey ! How would you like to have an EXTRA 120 quid in yer paypacket !
"Yeah, Gordon Browns government have said that they're gonna raise yer personal tax allowance by 600 POUNDS which means millions people caught by the 10% tax change will be better off !"
It rather came over that the £120 would be per month, imagine the listeners upset when they find it is not.
Apologies for any errors in detail, I only caught it once.
You couldn't make this up. The lunatics are truly in charge of the asylum. This is an abject climbdown from Gordo - the fact he didn't twig this whole fiasco was about to engulf him before the budget is a testimony to how detatched from reality he and his utter shambles of a govt really is. These people are actually running our country! It is a disgrace that these total non-entities hold any power over us...they couldn't run a bath.
Can you imagine them on The Apprentice with Gordo as project leader?.....come on Headbangers there's a sketch in that idea somewhere. As Sir Alan would say - "you haven't got a bloody clue...... YOU'RE ALL FIRED!!!!"
Every day a little bit more money goes own the tubes. Another wodge of cash goes to buy more zanu votes. To grease the voting pencils of the great client state........do you know what, I cannot be fucking arsed to go on any more. It's so depressing that we have landed ourselves with the most useless government ever. How the fuck did it happen? Just how?
Loanshark politics. Need .7 billions, so borrow 4 times that, Madness
bnp spastic,
come up with your own lines you fucking retard.
ps nick griffin is a nonce.
All the voters in Nantwich & Crewe need to see is this ...
http://tpa.typepad.com/waste/2008/05/the-great-briti.html
... and they will know that Darling's (he looks weirder every day, doesn't he?) budget "rejig" amounts to nothing.
Has stanislav been banned, Guido?
5.58pm
'Anonymous said...
Frank Field has now lost all credability. I wonder how Brown leaned on him?'
Frank Field is still a bachelor, isn't he?
Bang goes any respect that non-NuLiebor types ever had for Fieldmouse!
Peter Grimes
This is exactly what you have been asking for Guido.
You praised the USA for giving $300 per person to jump start the economy, Darling has equaled it in Sterling.
Dave and George have been truly wrong footed. They should have been demanding such measures 12 months ago. Only yesterday Dave was praising Tax credits...TWAT!!!!
It is high time Dave became a TORY!!
Frank failed is a knob jockey,(fact) and no doubt what with Gordon being one of the sisterhood he has plenty that he good dish up on franky , all a bit embarassing for a good catholic boy.
this is a first
a SUB PRIME TAX CUT ,
who sez gordo still hasn't got his finger on the pulse
Tankus
I found stan!
http://stanislavplumbcheap4u.blogspot.com/
I think this might save them from being pushed into 3rd place at C&N. But surely voters will punish them for having nicked the money off the poor in the first place. Paying it back under duress 5 months later is better than hanging onto it, but they still pinched it in the first place.
Brown wouldn't find £50 million to honour the police pay award, yet £2.7 billion can be found to save his job.
A bad day for the government, but it could have been a much worse one for Brown. As it is, it looks like he will hang on to his job for the next few months at least, but at the cost of substantial damage to the Labour party's already battered reputation.
Labour are still fighting fires though, and there are plenty of incendiary devices ahead which could blow up in their faces.
Frank Field is now a pretty little pinko poodle - McBogey's Mutt. What a sell-out!
Hope he can sleep at night.
As for The Gay Gordon and the Spastic Plastic Cabinet Support Group, perhaps they would like to find the money to pay the petrol bills - diesel is £1.21 per litre today - 5p up since YESTERDAY!!!!!
McCavity - should you or your Brown-Nosers read this...
a) RESIGN
b) DID YOU GET THAT???? RESIGN!!!!!!!!!!!!
c) In caseyouy hadn't thought about it, why not resign now??
d) Why not, as a gesture to the poor sods on pittance wages who fund your index-linked lifestyle, knock 10% off the Government petrol tax? Not to do so shows the utter inability of yourself and the other fools in your Government to identify and react in an appropriate manner to the MAJORITY'S pain and poverty. Remember us, eh????
e) In case you hadn't thought of this before, had you considered resignation? Believe me, millions would support you in this decision.
f) Has it not occurred to you that the internet means that you cannot control the media to suppress news/scandal etc anymore??? The electorate is getting wise - you should heed this as you are not believed at all these days on the ZanuLiebour TV channel, forerly known as the Beeb.
g) Ever thought of resigning to the Land of the Deep Fried Mars Bar, swarms of Gnats and the SNP, hmmm????
h) Just go...NOW
Message to Dave and George - WE WANT TAX CUTS, WE WANT THE FINEST TAX CUTS IN THE WORLD, AND WE WANT THEM NOW! (apologies to Withnail and I). Darling's move is in the right direction, but he should have cut spending. By borrowing the money we will have to pay more tax to service the debt and maybe even repay it one day. If Tories propose tax cuts based on spending cuts, Liebour can no longer accuse them of wanton profligacy - they have shot their bolt!
Frank Field has apologised for letting things get personal - any chance Ed Balls will do the same?
Hmm, is this not supposed to happen announcements like this after a by-election called, gee pure bribery.
Anyone seen the smallprint, ie for one year only therefore all who benefit do so for a year only
Furious copper said...
Brown wouldn't find £50 million to honour the police pay award, yet £2.7 billion can be found to save his job.
he couldn't find it because he needed to keep inflation at 0.1% or whatever lying target he said it was.
But 2.7 billion of printed money.. well that won't move inflation at all will it.
How Snow on c4 stopped short of saying "can you smell something burning [sniff . sniff] Its your pants! " to Darling when he kept going on about STRONG ECONOMY ALLOWS US TO DO THIS TAX CUT..
is a mystery.
Guido - can you verifiy if this is true?
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=566224&in_page_id=1770
totally OT
seen this?
http://www.guardian.co.uk/media/2008/may/13/web20.digitalmedia
So the government, that has recently loaned the city billions because they can't borrow money themselves, has to go to the city to borrow billions to fund the tax cut?
Between this and Scottish Labours position in Scotland, I just can't understand politics anymore!
What a creep Frank Fied turned out to be. Doesn't he realise his Labour colleagues will despise him all the more after his grovelling apology to Gordon?
According to my calculations full time (40 hour) workers on minimum wage (£5.52/hr) will still be £27 a year worse off even with this "compensation". Part time workers will still be even more worse off. Clearly neither MPs nor journalists are numerate enough to crunch the numbers and work out the figures (BBC and SKY news reports this afternoon implying no basic rate tax payers will lose out).
Haven't we learnt by now that Brown never, actually ever gives money back? It's always smoke and mirrors...
Has no-one else made the connection between yesterday's sudden discovery that we are going to be short of money to look after old folk and will all need to start paying extra tax, and today's announcement that Brown is giving some tax back to help smooth the Crewe byelection....?
Brown's planning on having the last laugh, isn't he?
Cynical? Moi?
And wtf was Frank Field doing backing down and apologising when the £1m poorest paid are STILL LOSING OUT, even after Darling has borrowed an extra £2.7 billion?
1. It won't be unfunded. There will be a tax increase somewhere else to pay for it, probably by reducing the 40% threshold.
2. Why is anyone earning 12K or less a year paying income tax at all?
3. Let me tell you a story. Elderly lady. Widowed. Aged 80+. Husband was a flight engineer in Lancasters. Never really got over the war. Worked in factory jobs, which weren't pensionable. They managed to save and invest about £100,000 before he died and to buy outright their modest bungalow. Lady now lives on husbands war pension, state pension and income from investments. Total about 10K. She runs a very old car. In 1997 when GB removed tax credit on didvdends her income went down. As the tax thresholds have crept down in real terms she is paying more tax. The removal of the 10% rate means she is paying more tax. If you add up all the things she buys to survive and then work out the tax charge on each of them - VAT, fuel duty, Car tax, IPT, cost in 'tax free' items, etc etc she pays more than 50% of her income in tax. That is the net cost of her purchases which are really food and fuel are say £5000 pa plus tax of £5,000 pa. Tell me, just how is this right? Just how?
The Great Snot Gobbler has no clue about folks like this. These independent people who try and look after themselves. All he has done is reduce their income, increase their taxes and make them bewildered.
The man is a disgrace.
This won't save them. In fact it will make things worse. Labour voters (well, a lot of them, actually; no, well, let's make that the majority of Labour voters -- all right, then, all Labour voters) are driven less by a fervour for a socialist brotherhood than resentment and envy. They're not blind in the matter of self interest. Far from it.
Conduct a public poll. Sample question: Would you be in favour of paying more tax to help the kiddies, old folk & whatnot? Yes: 93%. No: (me) 1%. Don't know: 6%.
Now conduct the poll that matters, in the privacy of the polling station. Three candidates. Candidate A promises to raise taxes to help the kiddies, etc., as aforesaid. He gets 15% (civil servants, Polly Toynbee & the like). Candidate B promises to maintain the status quo. He also gets 15% (dustpersons, social workers & their kind). Candidate C promises to take a machete to government spending, cut taxes by as much as possible and let the economy rip. He gets 68%. (The other 2% put their crosses in the wrong place, thinking they're doing the lottery.)
Darling is not reducing the tax burden: he is increasing it. People are not such morons that they cannot understand that government borrowing is funded by taxation. For a government to borrow money ostensibly to lower taxes is cynical, short-sighted and electorally self-defeating, as the result from Crewe and Nantwich will in due course confirm.
How does this stunt differ from the spendthrift extending his credit on one card to pay off another? It doesn't, and I'm sure the commentariat will be making this plain.
Verdict: another own goal from our star striker, "Deadeye" Brown.
So, as I understand it:
27 North East Seats = 50 billion
or 1 North East Seat = 1.85 billion
1 midlands seat = 2.7 billion
Therefore Tammany Hall inflation index = 45% over 9 months or an annual rate of 60% inflation for pork barrel politics.
Cunts!
crazy.
during the boom , the irish use budget surpluses to CUT taxes... which of course let to even higher taxation revenue, which lead to more tax cuts...
over here, badger has had to go cap in hand to fund a tax cut. pathetic.
Oy Vey
Frank Field - Brown’s nemesis - well I called that all wrong last night.
This craven, snivelling, whimpering, forlorn, friendless, dried-up lump of smegma, an unpolishable turd, takes any number of wet diarrhoea splats in the face from Blair, Brown and Balls and yet cannot bring himself to summon up the balls, the cojones, the chutzpah to stick it back up them. The most pusillanimous, abject, grovelling, spineless, I’m shitting myself, look at me I’m a gutless cunt, pathetic, lacking in self respect, cringingly embarrassing apology for a man of principle I’ve seen in a long time.
I’ve no idea, Mr Beast, if he really is a knob jockey but he does act like somebody who knows that Balls has a picture of him with somebody’s knob in his mouth. The cunt!
Liebour is dead in the water. The tax 'rebate', even if it is seen as a gift for the electorate, will be swamped in the coming weeks and months by economic armageddon unfolding.
This is a storm in a teacup - in the long run it's small beer.
The real storm is about to rage.
Anonymous [8.31pm]
Yes, this is how it begins - this is the thin-end of the wedge that will eventually ensure that that the likes of Guido, Coffee House et al are silenced. Censorship of the Internet, here we come...
Long, plagiarised post but illuminating.
Let's put tax cuts in terms everyone can understand.
Suppose that every day, ten men go out for dinner. The bill for all ten comes to $100.
If they paid their bill the way we pay our taxes, it would go something like this:
The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh $7.
The eighth $12.
The ninth $18.
The tenth man (the richest) would pay $59.
So, that's what they decided to do.
The ten men ate dinner in the restaurant every day and seemed quite happy with the arrangement - until one day, when the owner threw a spanner in the works.
"Since you are all such good customers," he said, "I'm going to reduce the cost of your daily meal by $20."
So, now dinner for the ten only cost $80. The group still wanted to pay their bill the way we pay our taxes.
So, the first four men were unaffected. They would still eat for free. But what about the other six, the paying customers? How could they divvy up the $20 windfall so that everyone would get his 'fair share'?
The six men realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man would each end up being 'PAID' to eat their meal.
So, the restaurant owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.
And so:
The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33% savings).
The seventh now paid $5 instead of $7 (28% savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to eat for free. But once outside the restaurant, the men began to compare their savings.
"I only got a dollar out of the $20," declared the sixth man. He pointed to the tenth man "but he got $10!"
"Yeah, that's right," exclaimed the fifth man. "I only saved a dollar, too. It's unfair that he got ten times more than me!"
"That's true!!" shouted the seventh man. "Why should he get $10 back when I got only $2? The wealthy get all the breaks!"
"Wait a minute," yelled the first four men in unison. "We didn't get anything at all. The system exploits the poor!" The nine men surrounded the tenth and beat him up.
The next night the tenth man didn't show up for dinner, so the nine sat down and ate without him. But when it came time to pay the bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!
And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore. There are lots of good restaurants in Europe and the Caribbean.
Will someone tell that ignorant Harriet Harperson to fucking turn up on time to PMQs tomorrow? Every week she turns up just as Browneye is stood giving his first answer. She obviously likes to give the impression she was doing something so important she had to miss the dull part where he trots out the name of the latest servicemen killed in action. She then sits down with a stupid grin on her fat ugly face, the disrespectful bitch.
Got to say "WELL DONE DARLING"
Gordon was in a hole and he was drowning in that hole, all down to his own making, for taxing the poor to fund the rich.
In a stroke Darling has injected £billions into the economy and at the same time helped the poorest salaries.
Shame on you Mr Brown for starting it, shame on you Mr Cameron for going along with it.
even Dunwoody does not think Brown is an asset
It comes to something when even a PPC doesn't think the leader is an asset.
http://thecrownblogspot.blogspot.com/2008/05/dunwoody-cant-confirm-if-brown-is-asset.html
McBean is really on form. This is a Whitehall farce. Did he really intend to make middle earners even better off while leaving (according to C4) a million lower paid still not fully compensated for the abolition of the 10p rate? If McBean really is going to the City for a loan I bet he's going to have to pay top whack interest as they know he's over a barrel.
2.7Bn borrowed is just taxation deferred.
Darlings a Dickhead
Well, erm....I think really tonight we should all be focusing on the positive side, and saying well done Gordon, well done Alistair, well done Ed the Peacemaker, and credit to Frank...er.....Feels for seeing the error of his ways.
Clearly the sharper focus of New Labour on the economy, jobs, health, and education is showing the country just how much we are listening and leading and the rock-solid fiscal foundations that Gordon has built will clearly show the same dividends as they did at the polls a week or two ago, as we approach the by-election in Nan's-snitch and Crude, and as Harriet Hardcore said herself it's all about letting the voters know that we have already decided what they think and are listening and will continue to listen to what we believe they mean and errm....
Lets get this right people...
This is NOT A TAX CUT
Brown/Darling have not reduced taxes at all, its precisely the same sum as it was yesterday... rather they've actually INCREASED them (or will shortly need to) to pay for the additional £2.7 billions borrowed. Ultimately, the Government will still have spent the money collected from the abolition of the 10p rate of other things (MP pay rises no doubt).
Not only did they rob the low paid Peter to pay the better off Paul; the twats in power have now borrowed from Patrick to give some cash to some of the Peters... and most the Pauls too. Naturally, at some future point in time Patrick will want paying back. I wouldn't want to be Peter when that happens.
Is this the worst measure yet, by the worst government we've ever had?
I'm stunned by its cheap, incompetent, blatant, crookedness. We need a new word that is more bent than bent - bent through higher dimensions, bent through bent space time in a bent fashion.
CUNTS
I just can't stand to look at them any more. They have to go, NOW. I can't take this much longer. I'm ashamed.
Ive just sussed it all out.
Labour realised they are screwed and going to loose the next election, so they are completely screwing the economy so that the Tories have to dish out all the nasty medicine when they get back in !
New Labour = Good Times
Conservatives = Bad times.
Psychology heh.
Not that Im sure the conservatives will offer any real change. Same policies different faces.
Fuck me ! read this its priceless! this lot have gone totaly crackers! I had to check it wasn't april the first.
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=566224&in_page_id=1770
Imagin auld snot gobbler as a political Alan Sugar. You can smell the desperation
Can't help thinking that Darling and Brown have just had their very own ERM moment. A face-saving climb-down that costs us all a few billion! This was supposed to be Gordo's post-election poison-pill when a tax increase doesn't matter. Except he fooked it up and it came back to bite him - what a loser.
This isn't even a very efficient climb-down. It kicks in, in September and is for this tax-year ONLY. No mention of how we pay for next year's jam !!
If the C&N votes fall for this, then they deserve a Labour government taking the p*ss out of them.
I'm gonna stamp my foot
(and hope I don't dislocate my hip).
Widely presented as "every basic-rate taxpayer will benefit", those of us over 65 have been around long enough to read the small print
This announcement raises a couple of questions so obvious that even George fucking Osborne should be able to do something with it.
Firstly, if this measure is for the current year only, what will happen to personal allowances in 2009-10? Will they be increased from this new revised 2008-9 level to take account of inflation, frozen or (God help us) cut?
Secondly, and to some extent dependent on the answer to the first question: if the Govt is borrowing £2.7bn to bribe the electorate, presumably the people who are lending it the money will want it back. So how, exactly, will the repayment be paid for? Spending cuts, tax increases, or freezing/cutting the personal allowance in 2009 and clawing the money back from the taxpayers who supposedly benefited from increasing the allowance in 2008?
And finally, does anyone really think that changing the allowances and tax bands half way through the year is something that can be easily done? HMRC are going to have to send out new coding notices for every single taxpayer. Buggering about with tax bands mid-way through a tax year is pretty much guaranteed to have unforeseen consequences in various kinds of financial services and products. Especially as this has all the hallmarks of a panic response to impending meltdown in Crewe. The chances of the changes having been properly researched and costed, I would estimate at approximately nil.
A DAY TO BE REMEMBERED IN HISTORY.
TO KEEP HIS UNELECTED JOB..
A SPINELESS TWAT PAID 2.7BN
and no one said
'The King Has No Clothes'
Brick Shithouse
Well said, my friend.
Frank Field is indeed a useless, spineless cunt. He had us fooled for a while, but he was always looking for a chance to be taken back into the fold. General Election in two years; a good chance he might be deselected.
Fuck off Frank. You can finally get off that high horse.
Ah, this brings back fond memories of Gordon Brown's one-off Council Tax rebate in 2005, when he miraculously found money to make a £200 payment to pensioners. Just before a general election.
And Labour Party activists whinge about Lord Ashcroft?
Mind you, that Council Tax rebate only cost tax-payers £800 million. Small change.
Obviously Brown doesn't expect to be running the country for too much longer, he doesn't expect that this extra 2.7 billion pounds is going to be his problem when it comes round to paying it back.
He probably needs the meagre PR boost that this will give him. Nevertheless, future generations will judge him for his spending what he doesn't have.
What a short-sighted, selfish git.
And anyway, it's our money in the first damn place. The fact that we are being robbed just a little less is no cause for celebration.
The Crash Gordon Disaster Barometer (CGDB) just went up another £2.7bn yesterday.
"Crash - ah - he'll pauper ev'ry one of us"
---
As I posted on this site on 5th May.. sing-along...
To the tune of Queen, Flash
Crash Gordon
Crash - ah - Saviour of the UK
Crash - ah - He'll save ev'ry one of us
- Seemingly there is no reason for Donorgate
- Extraordinary political upsets
- What's happening Crash ?
- Only Doctor Guido Fawkes formerly at NME
- Has provided any explanation
Crash - ah - he's a miracle
- This morning's unprecedented newspaper headlines
- Is no cause for alarm
Crash - ah - king of the impossible
He's for ev'ry one of us
Spend for ev'ry one of us
He'll spend with a mighty hand
Ev'ry man ev'ry woman ev'ry child
With a mighty housepricecrash
- General Cameron, Crash Gordon approaching
- What do you mean Crash Gordon approaching?
- Open fire - all spokespersons
- Despatch George Osborne to bring back his body
Crash - ah
- Gordon's alive!
Crash - ah - he'll pauper ev'ry one of us
Just a man with Mr Bean's courage
He knows nothing but spin
But he can never be held responsible
No one but the sycophantic in heart
May find any truth of late
Oh oh - oh oh
- Crash Crash I love you
- but we only have fourteen hours to save the UK
Crash
---
Jon
i can now see-- a run on sterling.
city will look at this and say---this gov doesnt give a fook about prudence.
Even now, I hear that gilts are safe investments because the government is unlikely to go bust.
I'm now very glad I don't have any.
The Beeb has gone mental, an article in the Times today :
Prime Minister Gordon Brown lined up as TV judge for aspiring politicians.
Suggests "Brown's present position may be precarious but his future is assured. Television producers have invited him to take part in an Apprentice-style show for aspiring politicians."
and
"It is a golden opportunity for the PM to gather a youth manifesto and become more popular than Alan Sugar".
Has someone flipped their lid?
the thought police are on their way
http://www.dailymail.co.uk/pages/live/articles/news/news.html?in_article_id=566007&in_page_id=1770
Frank Field. What a twat!
So if the PM does host a show along the lines of The Apprentice for aspiring politicians would we notice the difference ?
A load of self-regarding, ignorant, loathsome, cheating, duplicitous, fractious bastards all competing for a 100k job in a mighty empire created by a single man.
At least S'rAlan has a TRUE interest in football and brings money INTO the country rather than taking it out.
Another soft soaping for a regime minister on the today program. Darling was subjected to some easy treatment by the journalistic and presentational nonsense that is sarah montague.
@Anon 5:58am
Quite so. Brown's wet dream, his very own Stasi. And won't it be an honour, for all those enrolled to spy on us, to serve their country so.
Cunts.
And it is all in the name of "community cohesion contingency planning". I.E. Spying on each other.
Cunts.
If you can see the clip of Frankie Boy, doing his ass licking bit, look at Dahling, making eyes at the snotmuncher, you can almost anticipate that a promise was in the equastion....
I cannot take any more of this embarrassment of a Prime Minister and his spiteful and incompetant followers. I suggest we assemble en masse at Westminster today, grab the swine and lead him through the streets of London by means of fishing line secured around his, no doubt hideous, giblets. I thank you.
I bet the lying, corrupt knob jockey Zanu spin wankers think the Chinese quake and Burmese cyclone are manna from heaven, sent to keep their inept fumblings off the main news slots and newspaper headlines- just watch all the bad news being buried!
So, the crooked ones are trying to do 2 things with our 2.7bn.
Firstly, compensate the poor for losing out from the 10p shambles - well, ok, they have done a reasonable thing there. Secondly however they are 'giving' a tax handout - but guess what, who are the losers there? Two lots, first the rich, which is ok, but also the poor, who previously lost out relative to the 10p debacle!
So, by not targetting the money, they have, on the one hand, compensated the initial losers, but, on the other hand, they have then made them losers with respect to the tax rebate. You just couldn't make it up.
This is quite a good move, injecting money into a failing economy will be useful. Increasing taxes in a failing economy is not useful at all.
And as sure as night follows day, announce a budget next year to hit the taxes of the rich to pay for it.
In the wonderful world of politics I've seen some strings pulled in my time but announcing tax cuts in the middle of a by-election campaign?
When will Gordon Brown and Labour ever realise that their comes a time when the electorate have just about had enough.
Enough of their constant dithering, enough of their bickering on the backbenches and enough of their broken promises.
This is a government running out of respect, a government running out of ideas and as well as being a government living on borrowed money we now have a government living on borrowed time.