Highlights and tid bit leaked by Robinson, a cut in VAT to 15% and a postponed income tax rise for
those who can avoid it easily the very wealthy.
Much wibble on VAT groupthink. BBC this morning stated that the cut in VAT meant "that you would only get the savings if you spent more". Duh. No, moron, you get the savings on the VAT-liable goods you buy NOW anyway. The idea that a cut in VAT means people spend more and a cut in Income Tax means people
repay debt save is, frankly, unfounded.
If you cut income tax you help the poor more than if you cut VAT, for the working poor spend more on zero-rated or 5% rated goods such as food and energy as a proportion of their income than the more wealthy. But I suppose that is not what this is about, is it. Helping the poorest earners. No, it is going to be a neat little "Easter Egg" for the Tories. In 2000-and-mumble when we have the next election, the Tories will either have to keep the Income Tax hike promise OR find the money OR cut services. Gordon has set up a booby-trap for the next Parliament. Cameron seems reluctant to face down the "Tory cuts" daemon, so he is a victim of his own circumstances. Apart from that, they should call the Labour Party on a core aspect of our Democracy - no Parliament can bind future Parliaments. This is an attempt to bind a future Parliament by mortgaging the future - spending now and forcing a future government to pay it off. Gordon Brown is, in a word, wicked. And he knows it. I suppose that is why he has that ridiculous smirk on his punchable face.
Beau of the Dinner Circuit, Cable, says raising income tax thresholds would help the poorest. I say raising them still higher would help them even more. How about removing Income Tax entirely, eh, Vince? No? Thought not.
However, the Libertarian Party aims to do just that and, like any sensible household in a time of economic hardship, cut spending significantly and live within our means. The pretence that we are a "rich" country that can "afford" all manner of wibble is farcical. Just look at our government debt mountain range. If we were a "rich" country that could "afford" the wibble, we would be running a massive surplus. We are not. The Libertarian Party aims to make that a reality, though. A rich country with a budget surplus where INDIVIDUALS can decide what wibble, in their own personal judgement, they think they can "afford" to fund with their own money.
Those last few words are key.