Budgeting for the future..

Prime Minister Chancellor of the Exchequer Gordon Brown is in the Commons delivering his 11th, and probably final, budget. I’ll not pretend to be a master of the economic nuances involved but the BBC has some blogging journalists on the case, and there’s more at the Guardian. [and at the FT! – Ed] As Nick Robinson predicts in his budget check list – “No gag about Stalin who was, after all, a mass murderer” – which would be a swipe at Lord Turnbull, former permanent secretary to the Treasury and former cabinet secretary, comments to the Financial Times. The Labour Party? Stalinist? Shome mishtake shurely..

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  • Ian

    Corporation tax cut across the UK from 30% to 28%. Not exactly on a par with 12.5% in the Republic but it narrows the gap slightly.

  • slug

    Income tax down 2p to 20p

  • philip

    …but for small manufacturers it goes up ….

  • Crataegus

    I found Lord Turnbull’s remarks very odd indeed. As for it was off the record, oh come on a man of such experience knows exactly what he is doing.

    In my view Brown likes detail which Blair was poor on. I can certainly see him liking to keep firm control.

    The budget seems swings and roundabouts, basic rate down but 10p band removed etc. Why bother?

  • Elk

    …well it certainly ain’t socialist….

  • Pete Baker

    Crat

    “basic rate down but 10p band removed etc. Why bother?”

    Tomorrow’s headlines.

  • StarHound

    Swings and roundabout – I’m swinging between sad and disgusted. It looks like a load of old spin – I get the feeling that New Labour will just get ‘Newer’ under Gordon Brown.

    – 2p tax cut = Nice Headline, but the removal of the 10% rate means you wont be any better off. The lowest paid and part timers will also pay more because of this.

    – Child Benefit up 85p a year until 2010. I don’t think that will really make a dent in Child Poverty somehow.

  • mnob

    Folks did you really expect tax cuts from a centralised tax and spend govnerment ?

    It sounds like you should have voted Conservative in the assembly elections – they were the only party running with the potential to lower taxes.

  • cladycowboy

    mnob

    There was a tax cut….if you earn more than 16k and a huge tax cut if you earn 40k.

    If you earn less than 16k, you will pay more tax.

    New Labour. Doublespreak. The poor are paying for the rich.

    You honestly think Tories would be better for the working class?

    Can the poor be classified as a group and brought under this Equality commission grouping? I ask because today was an assault on poor people by a supposedly Socialist Chancellor and its really very frightening

  • Crataegus

    Pete

    Budgets for headlines; says it all really.

    As for radical, who are they fooling?

  • slug

    “a huge tax cut if you earn 40k”

    Er, I don’t think so.

  • stathead

    CRAT; why bother ? because now when a low earner falls into the tax net he starts paying tax at the new 20 % rate rather than ten. I dont often agree with tories but their guys comment today that it was a con seems right to me. As regards corpo tax, a move in the right direction but look at the corpo allowances frozen or scrapped. Needs an expert to tell us more.

  • Crataegus

    Stathead

    CRAT; why bother ? because now when a low earner falls into the tax net he starts paying tax at the new 20 % rate rather than ten.

    I know! In theory the poor can claim benefits to make up the lose but some will not. For the rest it is give and take and the business tax changes will be detrimental to many small businesses and those who need large amounts of equipment.

    I am glad to see some overall attempt at simplification, but this is a budget about headlines and most of it has sod all to do about the economy or green taxes.