Well I have read it, tried to understand it – and failed to…

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?

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About Bolshy

Blogging in the ether to see if that elusive literary agent or publisher wants some new talent.
This entry was posted in Blah!, Blogroll, Comment, Conservatives, Labour, Liberal Democrats, Personal philosophy, Politics, Sociology, WTF! Moment and tagged , . Bookmark the permalink.

0 Responses to Well I have read it, tried to understand it – and failed to…

  1. curly says:

    I just don’t think this stimulus will work at all, the first indications of Labour’s failings will be very poor retail sales figures at Christmas.

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