Wednesday, January 31, 2007

The Shape of Things to Come

You can feel the cold wind coming.

The Institute for Fiscal studies reports that "Since Gordon Brown became Chancellor 10 years ago the total rise in tax revenue has been £40 billion or £1,300 per family".

The independent institute predicts that Gordon's "First years as prime minister" will see not only the "tightest squeeze on spending" for a decade but also increases in taxes; a 10 billion increase in the tax burden a £10 billion cut in public spending.

At 2006/07 prices, Mr Brown is reportedly spending £22 billion more than Kenneth Clarke did in the last Conservative administration, but raising £31 billion more in tax, leading to him borrowing £9 billion less and bringing public sector net debt £80 billion lower than under the Tories.

So if we want to see even more "Guardian" non-jobs, like "Diversity Awareness Officer" on £30,000 a year, we are going to have to pay dearly for them in future.

Chances are I'm told that we may see a General Election in March 2008 to try and leverage the UKIP vote - unhappiness with Europe - at the expense of the Conservatives as the best chance of keeping Labour and possibly Gordon in power, so the real pain for us all in terms of taxation may not come until after this date.

1 comment:

Anonymous said...

When are the vast majority of middle-income, middle-aged, modest home-owning, pension contributing Brits, going to wake up to the fact that Brown has targeted them as the cash-cows for his profligate and poor value spending? Yes, roll on going to the country in 2008; the earlier we can get this bunch of sleazy, incompetent fat cats off our backs, the better! They have disgraced the traditional values of a fine Labour Party that would have been delighted to see the average working man becoming affluent and self sufficient.