Thursday, March 17, 2005
Budget
Budget, Liberal Democrats, and other folk.
Where shall I start today?
The phoney budget, that's where! You could be forgiven for thinking that a General Election is only a matter of weeks away, Gordon Brown's budget hasn't exactly set tongues wagging around here, there doesn't appear to be anyone remotely excited by his "give aways".
The £200 Community Charge refund for pensioners will be welcomed by many, however, seeing as pensioners over 70 get a huge discount and often pay a lot less than £200 per annum, they won't feel the full benefit. It will also need to be pointed out to them that this is a "one off" refund and won't be repeated next year. The introduction of free bus travel for pensioners is nothing other than an election sweetener, and if the Conservative Party were to win the election they would find it difficult to remove this benefit.
The biggest laugh is the raising of the stamp duty threshold to £125,000, this will only be of immediate benefit to a few (likely to be those buying with the intention of renting out, i.e. the investment market.) The Finance Bill normally takes some weeks to pass through Parliament, and then there is the election to contend with, it's quite usual to experience a "bull market" following a General Election, so it's probable that property prices, particularly in the South will soon rise above the new threshold. This means that by the summer of this year new buyers will still be subjected to about £1000 stamp duty. Wow, thanks Gordon!
Freezing the duty on petrol was also another con, Mr. Brown already knew that the Exchequer would harvest massive increases in revenue on the back of the rising oil price, indeed, we know today that the price at the pumps is about to rise again.
I cannot fathom why successive Chancellors insist on annual rises in excise duties on tobacco and alcohol. It only serves to produce a reducing tax revenue and a growing black market in pirated wines, beers, spirits, and counterfeit cigarettes to add to the problems faced by the National Health Service. When will they learn that the only way to beat the smugglers is to take their market away, i.e. reduce the taxation levels on these products to bring them in line with the near continent!
Despite all of the recent reductions in Defence budgets, Mr. Brown has had his hand forced to provide an extra £400m to maintain operations in Iraq.
So, for my money, (and according to a budget calculator that I used on the BBC website this morning I'm 14p. per week worse off) this is hardly an election winning budget.
If the Tories can convince people that they can maintain services, reduce waste and cut expenditure, and still reduce direct taxation, then, as Michael Howard said "Bring it on!"
Liberal Democrats in South Tyneside
I've been critical of the Liberal Democrat Councillors in South Tyneside for repeatedly supporting Labour policies in votes at the Council. I've called for them to disband and stand under the banner of New Labour after they helped the socialists increase our Community Charge by 4.9%.
I seem to have hit a nerve, one such Councillor wrote to the Gazette stating that they valued their independance (some independance when you are tied by Labour's apron strings!) Today, a socialist correspondent in the Gazette came rushing to the defence of the Lib-Dems accusing me of "childishly" "ranting". A swift riposte has been posted!
It is wrong that a party which proclaims itself to be the "third way" in British politics should align itself so closely to the ruling group. People who are elected as an alternative to Labour in this Borough should provide exactly that, an alternative. You were not elected to join the Labour group, your constituents elected you as an alternative to Labour, whether as a tactical vote to keep someone out, or as a protest vote aginst Labour.
Whatever, it is your duty and responsibility to provide the opposition that your mandate gave you.
By the way, have you Liberal Democrats, with such "green" credentials, got anything to sat about Trow Quarry. If so, we haven't heard a peep yet!
BBC Budget Calculator - click here
_________________________________________________________________
Where shall I start today?
The phoney budget, that's where! You could be forgiven for thinking that a General Election is only a matter of weeks away, Gordon Brown's budget hasn't exactly set tongues wagging around here, there doesn't appear to be anyone remotely excited by his "give aways".
The £200 Community Charge refund for pensioners will be welcomed by many, however, seeing as pensioners over 70 get a huge discount and often pay a lot less than £200 per annum, they won't feel the full benefit. It will also need to be pointed out to them that this is a "one off" refund and won't be repeated next year. The introduction of free bus travel for pensioners is nothing other than an election sweetener, and if the Conservative Party were to win the election they would find it difficult to remove this benefit.
The biggest laugh is the raising of the stamp duty threshold to £125,000, this will only be of immediate benefit to a few (likely to be those buying with the intention of renting out, i.e. the investment market.) The Finance Bill normally takes some weeks to pass through Parliament, and then there is the election to contend with, it's quite usual to experience a "bull market" following a General Election, so it's probable that property prices, particularly in the South will soon rise above the new threshold. This means that by the summer of this year new buyers will still be subjected to about £1000 stamp duty. Wow, thanks Gordon!
Freezing the duty on petrol was also another con, Mr. Brown already knew that the Exchequer would harvest massive increases in revenue on the back of the rising oil price, indeed, we know today that the price at the pumps is about to rise again.
I cannot fathom why successive Chancellors insist on annual rises in excise duties on tobacco and alcohol. It only serves to produce a reducing tax revenue and a growing black market in pirated wines, beers, spirits, and counterfeit cigarettes to add to the problems faced by the National Health Service. When will they learn that the only way to beat the smugglers is to take their market away, i.e. reduce the taxation levels on these products to bring them in line with the near continent!
Despite all of the recent reductions in Defence budgets, Mr. Brown has had his hand forced to provide an extra £400m to maintain operations in Iraq.
So, for my money, (and according to a budget calculator that I used on the BBC website this morning I'm 14p. per week worse off) this is hardly an election winning budget.
If the Tories can convince people that they can maintain services, reduce waste and cut expenditure, and still reduce direct taxation, then, as Michael Howard said "Bring it on!"
Liberal Democrats in South Tyneside
I've been critical of the Liberal Democrat Councillors in South Tyneside for repeatedly supporting Labour policies in votes at the Council. I've called for them to disband and stand under the banner of New Labour after they helped the socialists increase our Community Charge by 4.9%.
I seem to have hit a nerve, one such Councillor wrote to the Gazette stating that they valued their independance (some independance when you are tied by Labour's apron strings!) Today, a socialist correspondent in the Gazette came rushing to the defence of the Lib-Dems accusing me of "childishly" "ranting". A swift riposte has been posted!
It is wrong that a party which proclaims itself to be the "third way" in British politics should align itself so closely to the ruling group. People who are elected as an alternative to Labour in this Borough should provide exactly that, an alternative. You were not elected to join the Labour group, your constituents elected you as an alternative to Labour, whether as a tactical vote to keep someone out, or as a protest vote aginst Labour.
Whatever, it is your duty and responsibility to provide the opposition that your mandate gave you.
By the way, have you Liberal Democrats, with such "green" credentials, got anything to sat about Trow Quarry. If so, we haven't heard a peep yet!
BBC Budget Calculator - click here
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