Vir Cantium

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Darling Announces Three More Tax Rises … Next Year

So Stamp Duty is being axed suspended for twelve months, for buyers of the lowest value properties. How long before someone analyses the areas of most potential beneficiaries and compares it to Labour constituencies? How many sales in, say, Glenrothes (to pick an area at random) will benefit? Just a thought.

He hasn’t said yet how he’ll pay for it, so we know that means it’ll go on the plastic, just like the one-off £600 tax break that failed to buy off the voters of came just before the Crewe and Nantwich by-election.

That means that within the next twelve months, as we enter the frenzied final year before the General Election, stamp duty will go (back) up, and the personal allowance will be cut (back). (Oh come on – the government is busy selling these measures as tax cuts, so fair’s fair.)

But there’s more – borrowing is, of course, just a future tax increase, so we will be paying for these tax “cuts” for some years yet, with interest (literally). Yes, it’s three tax rises for the price of two.

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One response to “Darling Announces Three More Tax Rises … Next Year

  1. UK Voter September 5, 2008 at 5:50 pm

    Tax increases are bad enough, but the way this government has consistently squandered our money is bordering on criminal. They have ‘enjoyed’ the largest tax take in history and what do we have to show for it? A massive debt mountain, £170bn of off lalance sheet PFI borrowings (until 2032) and an £800bn black hole in civil service pension funds. Whoever comes into power at the next election will have to raise taxes so that we can pay for 11 years of financial incompetence.

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