Friday, 24 April 2009

How Will The Budget Affect You?


One of the most surprising aspects of the budget was the fact that people seem to be surprised at the scale of the borrowing. Almost as if the enormous bank bailouts were somehow not going to be factored in. Yes, this was the budget that would expose how severely we have to pay for the extent of corporate greed. No it hasn't made those responsible pay for the bulk of the damage. The 50% bracket as has widely been reported can easily be bypassed by those who got us in this mess because they are experts in financial engineering. They can easily convert their gains to stocks which would pay the much lower rate of corporate tax. As a nation, this is the moment we realize that the guy who had promised us free drinks at the bar all night was a con artist and has done a runner. Since no-one was keeping tabs its no point having a massive argument about who drank what and when etc. this seems to be the Tory position. They offered many criticisms but no solutions and I still don't understand how without a significant fiscal expansion they would stop this recession
turning into a depression.
TWEET: Labour Bad-tories worse-alternatives non-existent