Our Labour Government has announced that they will ... wait for it .... tax, spend, borrow, soak the rich, and sort it all out some time in the future. When the IMF arrive, no doubt.
I wonder how they chose the £150k threshold? Coincidentally, it is only slightly below the salary of Our Glorious Leader himself, so he will officially qualify for the tax but won't actually pay very much at all. Gosh - anyone would think it was chosen for PR reasons rather than sound economic ones!
Of course, one wonders where the cash for this tax will be found by those running the businesses that are successful enough to generate that kind of profit. Will they start to default on their mortgage? Will they abandon Waitrose and shop at Morrison's instead? Or will they decide to go without that new member of staff that was going to help them with their workload? Answers on a postcard....
My blood is boiling. As you say, it is exactly those people at the margins of this (rather than the billionaires) who create genuine employment. It is the "SME" employers who don't get to play with tax chicanery who will get hit by this and people in lower-paid employment who will be finding it harder to get work. All for the sake of a few quid in the budget and a few envy-politics headlines.
ReplyDeleteThe British aren't that stupid, though.
>> My blood is boiling.
ReplyDeleteSo, you're relatively calm and relaxed compared to me, then?
Time to drop the "New" from "Labour", I think.
They should have put the beloved (not) leaders salary into their tax not out of it.
ReplyDeleteBlue eyes you wanna bet on your "British" comment.
And Patently time to drop the Labour as well cause that means work and they are not into that.
Borrowing, theiving, handouts anything that does not involve work.
Like everything with politicans they go for the easy targets.