Why did you rob the bank? Because that's where the money is.

15 Nov 2005
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Next year, shortly after the notional BREXIT date, there will be a budget that needs to collect some money. Obviously our current government will continue to treat multinationals and billionaire tax-dodgers with kid gloves.

As the FT says,
"It became clear last week that the autumn Budget will be a holding statement and the big decisions on austerity, tax and borrowing will come in 2019, after the scheduled Brexit date on March 29. The details and the presentation of this defining moment will have to wait, but the essential element is already clear: Britons will have to pay more tax."

Austerity is supposed to be over. Older citizens need more expensive medical and social care. The NHS is crumbling (possibly as a result of deliberate Government policy). Nursing and Midwifery training places have been cut. Bursaries have gone. The railways are a disgrace. Universal Credit has taken as much as possible from the poor. Disabled and chronically sick are thrown onto food banks and suicide. Earnings from people on Zero Hours or Minimum Pay is too small to squeeze much out of them.

Where is the money?

In the Pension Schemes and ISAs of older people.

In the homes of prosperous older people.

In the BTL houses of prosperous older people.

Who can guess where the axe will fall?
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The news seems to be getting out...

"The government seems to have made two incompatible offers to the electorate," Paul Johnson, the director of the IFS, told me.

"The first is that it wants to get rid of the deficit in the next few years. And the second thing that the PM said just a couple of weeks ago is that the end of austerity is nigh.

"Well, getting rid of austerity will mean spending at least an extra £20bn or so by the end of this parliament [in 2023]. If you're going to spend an extra £20bn or so, you're not going to get rid of the deficit unless you have some big tax rises."


"As the BBC revealed last week, the Chancellor is also looking at tightening up self-employment rules, so that more self-employed people pay higher levels of tax."

"Personal income tax allowances could be frozen, despite a Tory pledge at the 2017 election that they would rise to £12,500 for lower rate taxpayers and £50,000 for higher rate taxpayers by 2020.

Freezing them could raise up to £2bn a year."
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Comrade John seems to have forgotten that it's New Labour that bankrupted us in the first place. Gordon Is A Moron told us he had ended boom and bust. Wrong!

Wouldn't have thought it could get much worse, but Jezza proved us wrong on that one.
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