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The Pre budget report doesn't make sense, does it?
Sure, the chancellor is cutting VAT by 2.5%, great; but the thing that really defeats me is that he then makes up for it by taxing the super rich - the people who could afford to move abroad, and I think a 45% tax on income is as good an incentive as any...
What is your opinion on the government's plans?
11 Answers
- Anonymous1 decade agoFavorite Answer
Every country is in the same boat with the recession
so this makes the rich moving like jumping out of
the frying pan into the fire.Vat is governed by Europe
and cannot be lowered below the 15%.
The tax for the high earners dose not come into
force till another three years any way.
- 1 decade ago
I think it was a great budget and just what all the experts are saying is needed. The only ones that don't agree are the Conservatives and they run the newspapers, so they are influencing peoples thoughts.
Remember, the current financial problems are not caused by the Labour Government, but by the banks. The banks have caused the problems by their unending greed and the reason the were allowed to do it was because the last Conservative Government removed all controls over them and they have refused to be controlled ever since!
Move abroad by all means, but the situation is the same the world over and many countries do not allow you to take a UK pension with you, so be prepared.
- steffiLv 71 decade ago
They'll only pay 45% on earnings over £150000, that's 5% more than now. And it won't be 45% on all earnings, just over that sum. How many people in the UK earn over £150000?
As recently as 1978/79, people were taxed at 83%, and that was on income over £20000. Until 87/88, higher tax rates applied, and it went down to 40% then. I think it should be higher, at least 50%.
Source(s): Retired tax office employee. - rik-o-shayLv 51 decade ago
What we needed in the UK was a pre budget report that would help people to pay off their debts NOT spend more money that they haven't got .
Ounce again this government has acted like it can spend today and pay tomorrow, well the debts needed to be paid yesterday and because they haven't been paid is the reason for all of this panic and THAT is why we are up to our eyes in Browns smelly stuff, and nothing in that speech will help except if you work for debt collecting agency.
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- Anonymous1 decade ago
Of course it makes no sense - unless you think that the Conservatives will get in next time. Knowing that Labour are finished, Darling has deliberately wrecked the economy so that the Conservatives will be faced with an impossible task and the Labour will be able to criticise from the opposition benches.
Very clever, actually, but a disaster for us.
- Anonymous1 decade ago
I am thinking - I wished I'd have left 3 years ago when my house was worth something. BUT, maybe that's what they wanted! They want us all to just give up don't they? Hard work is never rewarded in this country - I know that now, now that it's too late.
My opinion on this government lunacy, well we need to storm parliament and put someone there that knows what they are doing before it's too late.
- Anonymous1 decade ago
All reports are cooked and meant to confuse and hence are not supposed to make sense. 45% is very high. As normally happens, after representations and protest, it will be reduced marginally but the shortfall will be made through some other means.
- mynamesdanLv 41 decade ago
Also poor, also leaving.
i think the government could knock 2.5% off the middle management of the civil services and save us a bucket of cash, and also a lot more going wrong.
we seem to run this country as if it's more important that things seem better than they are.
we're a really stupid people.
- ?Lv 41 decade ago
this bloody labour party don't make sense,they sold a hell of a lot of are gold reserves.they were bragging that they had paid of the national debt.they allowed banks to lend people money they were not earning enough to pay back,and look at the mess we are in now.i don't think they could get into a micky mouse cartoon
- Anonymous1 decade ago
Well I'm leaving and I'm poor, so no doubt this will encourage the rich to leave also. I'm sick of this government stealing from me and not listening. They live in a land of make believe half the time. Same with the banks and the police. They're all out to screw us over.
Feck em, I recon. leave em to fester in their own ****