Wednesday, March 21

To Give And To Take

''Whether by keeping mortgages low, providing the economic stability to deliver record employment and sustained investment in schools, this Government has worked hard to support hard working families. '' So says The Rt. Hon. Gordon Brown MP, The Chancellor, in his address to the Labour Party faithful released a few moments after delivering his eleventh budget in the House today.

Once again there was very little for the hard working families of the UK's small business community to be pleased about. Mr Brown, ramed up corporation tax on small businesses while cutting it for larger firms !

Carole Undy the outgoing Chairman of the Federation of Small Businesses issued a press coment this afternoon saying '' he gives with one hand and takes with the other.''

There will be much written about today's budget by both bloggers and journalists from the 'dead tree' industry (newspapers) on what was clearly a very political budget, rather than one of profound soco- economic relevance; like in the good old days.
British tax paying subjects must not be fooled into thinking this is a "give-away" Budget, all Mr Brown has done is to provide headline "cuts" in both income tax and corporation tax, but the cost of these cuts will be met by the other changes. In other words, very few people will be much better off as a result!

This Budget can best be described as a "tinkering" Budget. There were 81 Budget Notes containing the devils in the details of literally hundreds of tax changes.

Click here to view an excellent 2007 Budget Summary Report.

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