UK PLC Budget Blues…Glasgow Rangers in disguise?
Budget Day. Again.
George Osborne’s 3rd budget.
Politics fighting economics. Again.
Growth pulling against Austerity.
The ratings agencies are threatening a points deduction and liquidation
Goal is fiscally neutral. Give tax to lowest earners balanced against taxing super-rich.
The super-rich’s accountants rub their hands with glee.
The 50p top tax rate to come down as Stamp Duty on Mansions rises – new house price average falls as 100’s of £2M+ houses sell for £1.99M
Will falling corporation taxes and cutting red tape for small businesses be offset by the Banks still failing to lend to those smaller dynamic businesses who need loans
Entrepreneurs & SME’s need to fuel growth.
Yet Fuel continues to power the HMRC coffers.
Will increasing the threshold before tax is paid boost spending or simply to allow people catch up on inflation?
Cutting family tax credits, freezing regional public sector pay & keeping VAT high will hardly give confidence to everyday spending forecasts on the high street.
This budget was prepared in a colander – so many leaked policies.
Will it stimulate growth or keep the Tories onside while the Coalition bickers?
My prediction…Politics 3 Economy 2…with UK still fighting relegation.