I had almost forgotten that this day was upon us.
Another attempt by Gordon Brown and Alistair Darling to kick start the engine of the broken economy with a range of tax cuts including a temporary reduction of VAT from 17.5% to 15%.
However we are all going to regret it in 2010/2011 when Gordon wants the money back he has loaned us by hiking up taxes again.
Who on earth is he going to borrow money from to fund this spending spree?
I do like the idea of raising income tax to 45% for those top earners in the UK. The BBC were saying last night this income tax band might be aimed at those earning £150k or more a year. We will know by the end of the day.
The sad thing about all this is, is it really going to help those of us who are unemployed seeking benefits and those on a low income? I don’t think so.
Can some one find me a nuclear bunker or a cave to hide out in for a while, whilst this whole mess blows over?
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=48385ffa-dccf-46ad-a74d-695001b69696)
Raising the income tax to 45%? Top incomes in The Netherlands already pay 60%… Normal guys like me almost have to pay 45% income tax. And VAT goes from 19% to 20% over here. I’m now considering to move to the UK ;P
45% is the top rate of income tax.
Not everyone pays 45% otherwise there would be riot