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Politics

Budget 09. Underwhelmed.

The raising of the upper tax band for the richest 1% will levy a paltry amount of money and may actually cause revenue to fall, as these types will now feel justified in finding more imaginative ways to avoid paying tax at all.

This is Darling’s fig leaf when he next stands in front of the PLP, or any other Party meetings appealing to the old prejudices, as this has to be the most underwhelming Budget of recent times.

Where is the NEW money? It seems to me that this statement was just a series of re hashed policy announcements jotted down on the back of a fag packet allied to a series of tinkering which don’t actually deliver much.

Darling seems on the one hand terrified to upset Daily Mail Land (he could have done something with National Insurance at the top end), but on the other he indulged in grandstanding to the Left with the un enforceable hike on the top few earners who will now take that money overseas.

Then there are these idiotic, nebulous catch all statements such as £750m investment fund to provide financial support to emerging technologies, £435m extra support for energy efficiency measures for homes, businesses and public places and £405m new funding for low-carbon technology projects.

All fantastic sums of money on worthy causes, but where is the detail, how will we know what has been done and measure it’s success? Hot air if you ask me.

If he wants to stimulate the economy then abolish tax credits and instead raise child benefit and take millions at the bottom end out of the system by upping the allowances.

The savings to the Treasury from the abolition of the incredibly inefficient and bureaucratic tax credit system allied to the scrapping of Trident and ID cards would balance this outlay.

We needed to be truly, and accountably radical. We needed to seen to be actually delivering now. We needed to expose the Tories.

I fear we have done none of these things and this fiddling whilst Rome burns may cost us the Election.

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About dermotrathbone

Writer and co author "Through Red Lenses". Activist Unite the Union, Save Our NHS Hull. Fan of Yorkshire County Cricket Club, Hull FC, Munster and Ireland Rugby. Views are mine alone and may not reflect the organisations concerned.

Discussion

One thought on “Budget 09. Underwhelmed.

  1. This Labour Government is steadily turning into the Major led Govt that simply ran out of steam & ideas in 1996/7.Short of tax cuts for the ordinary people, both basic & on things that are crippling the average man, ie petrol, this country is heading for a Cameron landslide. To put a further 2p on petrol simply hits the motorist, hits the haulage companies & in turn hits the supermarkets. The result ? A car owning shopper pays through the nose twice, again.Airport tax has gone up again which damages the already fragile aviation industry.The increase on the wealthy is in principle welcomed, but they all have clever accountants & lawyers so the country won’t actually see much of the extra revenue anyway.On the subject of taxation, why do I have to pay a "premium tax" on my car insurance, I already pay road tax, car insurance, mot fees, ever increasing petrol prices, oh, & vat on tyres, just how are tyres on my car a luxury ???

    Posted by Michael | April 29, 2009, 3:28 pm

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