Alistair Darling does – well – nothing.
The British Chancellor of the Exchequer (Finance Minister) made a pre-Budget report and called for a relaxation of VAT (Sales Tax) by 2 1/2%. That will go directly to the profits of the companies and will not be passed onto the buyer – he also increased the cost of fuel by increasing the duty on it – also tobacco and booze.
Add to all that he has increased borrowing to record levels – that I can understand because the UK as well as everywhere else is feeling the crisis.
But raising the cost of fuel?
That will keep transport costs up – it is all over the place – how can this be seen as a stimulus package when it is taking back what it gives – and expects people to spend.
Top paid people, over 150k GBP per year will also see a rise in their taxes as well as an increase in National Insurance Contributions. Erm…?
And – we also have to add to all this the drop in growth into negative territory.
S’cuse me? But I am confused, can anyone help?