Wednesday, March 21, 2007

That Brown Budget

Corporation tax down to 28%, though small business tax rising from 20% to 22% and rising. The reason is that he thinks lots of people are not real companies paying their due in taxes.

Does Brown not understand how much growth small companies provide to the economy?

Also Brown has reduced the 22p rate of income tax to 20p. Sounds good, but it is mostly funded by scrapping the 10p rate of tax so you have to be earning something like £17,000 to be better off. If you are not you are worse off.

Apparently working tax credit will offset this. Why bring people into a tax credit system when you don't have to? If you are going to give them the money back, why not just leave them with it in the first place?

What Gordon giveth with one hand, he taketh away with the other.

The BBC has this, and I will be writing more when I have had a chance to look at it in more detail.


youdontknowme said...

He wants people to get tax credits so more people are relant on the state fo atleast part of their income. Labour don't like independent people.

Benedict White said...

youdontknowme, yep but the take up rate is only 20% amongst people with no children.