Monday, June 05, 2006

Gordon Brown - Laughing All The Way To The Bank

James Cleverly has tabled a good rant today. He is a wise man and somewhat less vitriolic than your good Guttersnipe here, but I m sure one day he will go completely postal on some subject, and we will treasure that moment when it happens.

James shares a particular bee in a particular bonnet regarding Gordon Brown’s running of the economy. Gordon doesn’t run the economy. Gordon doesn’t even run the interest rates which is what most people equate to the economy. The economy changes according to global issues such as war, climate change, resource and the three great factors of tax, supply and demand. Gordon can only influence one of these… you guessed it, tax.

Like all people with very little real power he uses it as often as he can, and today the number of stealth taxes he has raised has reached 80. So enjoy them, at least you can see where his money comes from. It’s not like we can see where it goes.

1. Council tax increased by 6.5pc
2. Mortgage tax relief cut
3. Pensions tax
4. Health insurance taxed
5. Health insurance taxed again
6. Fuel tax escalator up
7. Vehicle excise duty up
8. Tobacco duty escalator up
9. Stamp duty up for properties over £250,000
10. Corporation tax changes
11. New windfall tax on utilities

12. Married couples' allowance cut
13. Tax on travel insurance up
14. Tax on casinos and gaming machines up
15. Fuel tax escalator brought forward
16. Tax on company cars up
17. Tax relief for foreign earnings abolished
18. Tax concession for certain professions abolished
19. Capital gains tax imposed on certain non-residents
20. Reinvestment relief restricted
21. Corporation tax payments brought forward
22 Higher stamp duty rates up
23. Some hydrocarbon duties up
24. Additional diesel duties
25. Landfill tax up
26. Council tax up by 8.6pc

27. NIC earnings limit raised
28. NICs for self-employed up
29. Married couples' allowance abolished
30. Mortgage tax relief abolished
31. IR35: Taxation of personal services companies
32. Company car business mileage allowances restricted
33. Tobacco duty escalator brought forward
34. Insurance premium tax up
35. Vocational training relief abolished
36. Employer NICs extended to all benefits in kind
37. VAT on some banking services up
38. Premiums paid to tenants by landlords taxed
39. Duty on minor oils up
40. Vehicle excise duties for lorries up
41. Landfill tax escalator introduced
42. Higher rates of stamp duty up again
43. Council tax up by 6.8pc

44. Tobacco duties up
45. Higher rates of stamp duty up again
46. Extra taxation of life assurance companies
47. Rules on controlled foreign companies extended
48. Council tax up by 6.1pc2001
49. Council tax up by 6.4pc2002
50. Personal allowances frozen
51. National Insurance threshold frozen
52. NICs for employers up
53. NICs for employees up
54. NICs for self-employed up
55. North Sea taxation up
56. Tax on some alcoholic drinks up
57. New stamp duty regime
58. New rules on loan relationships
59. Council tax up by 8.2pc

60. VAT on electronically supplied services
61. IR35 applied to domestic workers
62. Betting duty change
63. Tax on red diesel and fuel oil up
64. Controlled foreign companies measures on Ireland
65. Vehicle excise duty up
66. Council tax up by 12.9pc

67. New 19pc tax rate for owner-managed businesses
68. New tax on private use of company vans
69. UK transfer pricing introduced
70. Increase in rate of tax on trusts
71. Increase in tax on red diesel fuel
72. Increase in tax on other road fuels (including LPG)
73. Council tax up by 5.9pc

74. Cancellation of stamp duty land tax relief for disadvantaged areas.
75. North Sea taxation doubled from 10pc to 20pc.
76. Zero per cent rate of corporation tax abolished
77. Council tax up by 4.1pc

78. Clampdown on trusts and insurance policies commonly used to mitigate inheritance tax.
79. Increase in vehicle excise duty for SUVs.
80. Council tax up by 4.5pc

Do we really think this is going to get any better when Brown gets into number 10? I doubt it.

1 comment:

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