June 22nd, 2010

+ + + Capital Gains Up To 28% + + +


  1. 1
    Another Pedant says:

    Bastard Capital Gains, putting tax up 28%!

    Any idea which tax?


    • 5
      John Redwood says:

      Dave loves the Liberals more than me.


      • 16
        PB says:

        Look who else is missing.


      • 30
        13eastie says:

        Only now are Gordon Brown’s chickens, bred under no democratic mandate by a crazed spendthrift foisted on us by the trade unions, beginning to come home to roost.

        Predictably the biggest chicken of the brood, the culprit and gutless author of a book on ‘Courage’ is nowhere to be seen, comfortably ensconced at the tax-payers expense at a luxury coop in Fife.

        He is still in complete denial, perhaps due in no small part to the healthy financial status he will continue to enjoy while the rest of us pay for his maleficent profligacy.

        We can expect no humility from Darling today.

        After a similar fashion to those animal lovers who resemble their pets, Darling is the political chav who ‘unlocked trapped equity’ with six delinquent kids, two 4×4’s on HP, the biggest TV in the world, ten maxed-out credit cards, skin disease from thrice-yearly identical holidays to Florida, and a host of unfavourable CCJ’s.

        The bailiffs have arrived and found no sign of any spending having occurred, save the debts themselves and steaming piles of bull-terrier shit.

        Today the debt collectors start roughing up the neighbours.


        • 60
          Majority Shareholder says:

          The above photo was taken during the funeral of the Liberal Democrat Conservative Coalition.
          The ashes of the body are in the case Osborne is holding.


          • 13eastie says:

            Nice move by George – he will still be there in the next Parliament, unlike his human shield.


          • John Bellingham says:

            WRONG! The case hold the entire wealth of the nation left over by labour–in coins.


    • 79
      Ampers says:

      Won’t affect me, I’m not on the higher rate, but I bet Guido’s upset :-)



  2. 2
    Arthur Laugher says:

    Laffer Curve – Invented by Arthur Laffer is a curve that shows the relationship between tax rates and tax revenue.

    Laffer’s curve clearly deomonstrates that a optimum % tax point is reached which maximises tax revenue and when this optimum tax rate is increased then tax revenue will decrease.

    Taking it to the extreme, Laffer curve hypothesis is that a 100% tax rate will generate no revenue because at such a rate there is no longer any incentive for a rational taxpayer to earn any income, thus the revenue raised will be 100% of nothing.

    Aptly named Laugher’s curve. Pity socialists don’t read.


    • 6
      Alister Darling says:

      The natural logarithm is the logarithm to the base e, where e is an irrational constant approximately equal to 2.718281828. The natural logarithm is generally written as ln(x), loge(x) or sometimes, if the base of e is implicit, as simply log(x).

      So there.


    • 9

      But surely people would toil for the good of society and for the benefit of their comrades? And to avoid being put into salt mines.


    • 34
      Battle Lines says:

      Pity cons don’t read too.28%.the state takes half.fuckoff state.this is war.


    • 71
      Anonymous says:

      ‘The Laffer curve was popularised by Jude Wanniski in the 1970s, with Wanniski naming the curve after the work of Arthur Laffer. Laffer later pointed out that concept was not original, noting similar ideas in the writings of both 14th century North African polymath Ibn Khaldun—who discussed the idea in his 1377 Muqaddimah—and John Maynard Keynes,[1] and other historical precedents exist’



  3. 3
    no longer anonymous says:

    Drop in corporation tax is good.

    CGT rise is not good obviously but might be less damaging if there are various opt-outs.


    • 32
      Lord Snooty says:

      It only crystalizes when you sell an asset so, logically, if you don’t have to sell an asset DON’T. This is the most difficult tax from which to determine inflow of revenue – waste of time really; it’s simply window dressing. VAT and Higher Rate Income Tax are the two earners and previous attempts are working Laffer’s Curve show that anything over 46% will result in higher earners either (1) briefing a very good firm of accountants or tax lawyers (2) moving out of the tax domicile (3) cheating. It’s very nice here in Monaco today btw.


    • 59
      Prezza's Portfolio says:

      Opt outs for MPs second homes, lad.


  4. 4
    I am sad fucker i bought spiceworld the movie says:

    Cut , slash , tax mps 90%


  5. 7
    I despise Labour says:

    Increase in CGT means a decrease in Government revenue. Waste of time. I assume this is non business cgt.


    • 15

      I didn’t think there was a business CGT, thought that was called corporation tax.


      • 23
        South of the M4 says:

        I thought there used to be taper relief if the asset was classed as a ‘business asset’ and the relief increased the longer you held on to it/them. If this is restored/retained then we are back to, nay, better than, the pre-2007 position which everybody was happy to live with for years previously.


      • 37
        Lord Snooty says:

        No it’s called Venture Capitalists or Private Equity Investors. Entrepreneurs in other words – used to be taper relief and we didn’t pay anything now we’re all in Monte Carlo (used to be Gibraltar or Spain but you meet a nicer class of people in Monaco)


      • 41
        Phil O'Pastree says:

        Corporation tax is an income tax – a tax on revenue whereas CGT is a tx on the increase in value of an asset, like an MP’s second home.


  6. 8
    I am sad fucker i bought spiceworld the movie says:

    are you doingg a live chat for the budget?


  7. 11
    Spank Sinatra says:

    Interesting scoop – will be more than impressed if this turns out to be the case


  8. 14
    Peter says:

    Guido, could we have a livechat for the budget? It is always a great deal of fun. Thankyou and goodnight.


  9. 19
    I am sad fucker i bought spiceworld the movie says:

    what they should do is when whoever answer for labour the torys and lid bems should all get vuvuzales out and blow hard


  10. 20
    the happy family coalition says:

    there may be trouble ahead


  11. 21
    DR says:

    All those in the lead photo should sue their respective tailors … what a shabby lot they look!


  12. 24
    I am sad fucker i bought spiceworld the movie says:

    is the ginger one out of harry potter , weasly or something


  13. 26
  14. 28
    the beast of clerkenwell says:

    Who cares. Just where is mcmentl?


  15. 29
    I despise Labour says:

    Thanks cc you are correct.


  16. 31
    Mr Speaker says:

    All English MPs are to be given the afternoon off tomorrow so they can watch the England team try to qualify for the serious job of winning the world cup. Scots, Irish and Welsh MPs will be pleased to know they can just carry on as usual – no tax saving there then!


  17. 38
    Anonymous says:

    The BBC is spinning away.

    ‘And what will this be like for nurses in the North East?’
    ‘We’ll probably have to go without food and water.’
    *sad faces all round*


  18. 47
    concrete pump says:

    I love taking it up the Gary Glitter.


  19. 49
    We want says:

    wider bogs for fat arses


  20. 53
    Gordon says:

    It’s all Tebbit’s fault. We had dinner at Granita and Thatcher promised she’d only be leader for two terms but Tony lied and stayed on for longer.


  21. 61
    Progressive Budget says:

    With the exception of VAT & CGT this budget is quite reasonable considering the bloody mess we are in.


    • 80
      John Bellingham says:

      Right, what’s all the fuss?
      I was expecting a Caesescu style austerity. This is nothing.


  22. 62
    Nazi Mumsnet says:

    The feckin Coalition will not be getting any of our feckin broken biscuits made by little Hans. We earn £60k why should we be penalised?


  23. 63

    We saved the universe!


  24. 65
    Skinny bloke says:

    You VAT bastard.


  25. 66
    I am sad fucker i bought spiceworld the movie says:

    well budget ok , vat up but labour would have done that anyway , at least the tractor stats sounded different and not done in a mong way


  26. 67
    Liars says:


  27. 68
    Breaking News says:

    Gordon Brown has been found dead…

    …wrong on everything he said about the economy.


  28. 72

    There – that wasn’t so bad now was it?


  29. 73
    Hang him first says:

    What a treacherous twat Clegg is


  30. 74
    I am sad fucker i bought spiceworld the movie says:

    could have been worse really


  31. 75
    These Liberals can be tough cookies says:

    Danny alexander seems to be putting up a good job on the BBC2 budget coverage


  32. 76
    Hugh Bristic says:

    A sensible budget, which should give us hope that common sense instead of dogma is being applied.


  33. 77
  34. 81
    Proud Tory says:

    The residents of Tower Hamlets have just heard about the cut in housing benefit.


  35. 82
    Hang The Bastards says:


    Putting up CGT because of those liberal tossers!

    CGT increases mean less investment from private investors in start-up business which means less growth FFS !


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