March 22nd, 2012

Osborne Biggest Loser in Budget

Osborne’s budget has gone down like a bucket of sick on the front-pages this morning. As long as we have flat-lining growth and a failure of political will to tackle spending, all fiscally-neutral budgets will be like this, identifiable ‘losers’ will out-number identifiable ‘winners’. The losers this time are those who were prudent enough to save for their retirement. The so-called lucky generation of baby boomers who had a working life in a long term growing economy and an overly generous welfare state which has now impoverished their children and grand-children. Some might spin this as a bit of inter-generational payback, others as an unjust punishment of those who saved for their retirement. Pensioners have a propensity to be voters…

Osborne is spending more than Brown, borrowing more than Brown and taxing more than Brown. The official numbers revealed yesterday show that spending is still rising in real terms, there is no hope of for an “expansionary fiscal contraction” if there is no fiscal contracti0n. The national debt is still rising. The coalition government’s self-defined primary mission, to close the deficit by the next election, is on course for failure. As long as this obsession with fiscal neutrality and timidity towards cutting spending continues the tax burden will not be reduced, the debt will not be reduced and growth will flat-line. Fiscally neutrality is just another phrase for tinkering with the tax burden.

The bond markets already know the government is going to miss the deficit target. All the fast growing economies in Asia and the Americas have lower tax economies than the UK and Europe. A dash for growth stimulated by across the board tax cuts will not as Osborne fears be punished by the bond markets, that is a fundamental mis-reading of bond market mentality. Osborne knows bond markets think long term, that is why the Treasury is contemplating issuing 100 year bonds. Bond traders understand that broad tax cuts are a real stimulus that will lead to a more dynamic growing economy which will reap more tax revenues long term. Why are we waiting?


  1. 1
    Come on? says:

    Yep Ozzy getting the blame for clearing up labours mess.

    As the Tories always do.

  2. 2
    Lord Wayne of Trombone says:

    DEBT 492 B £

    You re having a laugh george.

    cut some services

  3. 3
    Johan says:

    Amen. Time to start cutting.

  4. 4
    Sizzla says:

    Osborne is turning Brown.

    Like Gordon Brown, he can’t help fiddling with little rates and trying to make one group better off than another. Pleasing one industry with breaks here, taxing certain houses there.

    Time to simplify the whole system. Fit the tax code onto two sides of A4.

  5. 5

    The “pension tax grab” is not quite what it seems. It is more a case of pensioners’ differentials being eroded. They still benefit but only the same way all middle earner benefit from higher personal allowances. In a climate where personal allowances are higher what is the argument for the differentials?

  6. 6
    The way forward says:

    1: Cut all tax rates to 10% (including vat)

    2: actully CUT spending so we dont need to borrow

    3: Live within our means (the state)

    4: Let the wealth and job creators do what they do best

    5: Get away from the idiotic notion that the state can fix things, it is the problem not the solution.

  7. 7
    Well it's a thought says:

    The idiot has done a reverse Robin Hood in belief that the loot will trickle down to us trash, big fail, just another set of robbers stealing more money from the savers, just so Osborne can look good in front of his rich friends, get your furniture removers on call , Ossy and Camoron you and your uconned us friends have screwed us the Conservatives for years.

  8. 8
    David C says:

    Though Oz isn’t cleaning up their mess – he’s makIng it worse. Slash spending NOW. Enough of this farce!

  9. 9
    The way forward says:

    Oh and one other thing i would introduce, A tax on people who steal sweets off sick children.

  10. 10
    David Camoron says:

    “Osborne is spending more than Brown, borrowing more than Brown and taxing more than Brown.”

    Well, of course. Putting Mr Patel on the Moon isn’t cheap, you know.

    Toodle pip!

  11. 11
    The Only Tory in Bootle says:

    It’s BECAUSE the government will miss their targets that they are being so cautious. Go overboard and they risk losing support and Labour swanning back in to office to mess it up again. They need the next parliament to complete their mission, unfortunately fiscal neutrality and wishy washy tax fiddling is the only way to do it.

  12. 12
    Vince Knows Best says:

    Liked the BBBC headline

    – top rate tax down (rather than millions will benefit from a higher threshold . . . )

    They never change do they comrad.

  13. 13
    Are You Mad says:

    What and Make the State Army smaller?

  14. 14
    Steve Miliband says:

    Are you sure Phil? From the headlines you’d think he’d abolished ACT on pensions at a cost of £100bn

  15. 15
    Vince Knows Best says:

    Nothing to see here – move along.

  16. 16
    Don't blame me - I didn't vote says:

    He should have started doing that nearly 2 years ago. It’s time now to start contemplating a Labour government is 2015 – a Labour government that will inherit a bigger de*bt than the one it left. Think “basic rate income tax 37%” and you’ll get a picture of what’s to come, and then plan to move abroad. You’ve got 2 years.

  17. 17
    Vince Knows Best says:

    We need more incentive taxes like 95 percent on income tax for the toffs earning more than 25,000 a year.

    And those bastards who have worked all their life to buy a Mansion – they need to be taxed for being thrifty.

  18. 18
    Don't blame me - I didn't vote says:

    How about fit the tax code on one side of a postage stamp?

    “flat rate 20%”

  19. 19
    Vince Knows Best says:

    But my party shall win the next election with my leader David M in charge.

  20. 20
    Anonymous says:

    You have to laugh at the Daily Mirror headlines. Osborne could have halved taxes, scrapped fuel duty and then resigned, and still the Mirror would moan about something.

  21. 21
    anon says:

    Fantasy Mate–pure fantasy.

    The only mission these blue labour twats have is to finish labours dirty work of turning the uk into an ompoverished multi-culti police state where the ruling class (statist,socialist, aristocratic) can thrieve while the rest of us rot.

  22. 22
    Mr Curious says:

    How about a tax on old ladies who cause long queues in the post office?

  23. 23
    Flatus Veteranus says:

    Perhaps George is too young to understand the plight of his elders. We have not only saved all our lives, only to have our savings taken from us in old age, we have also been taxed all our lives.

    We have been taxed when we earned, we have been taxed when we have spent money, we have been taxed when we have saved. Some of us have suffered the stupidity of having divorce settlement taxed as has my former wife. She had to pay tax on the income from me which had been taxed when I earned, saved, etc. etc.

    Gordon is a moron. George is a willful and silly little boy. He cannot stand up to the LibDem’s whose economic policy centres on taxation. It is not even ‘tax and spend’. They don’t care about spending. They devote their lives to taking money away from people because they can. It is political jealousy and it will bite them in the arses.

    More and more retired people will refuse to vote Tory for the rest of their lives. There will be a long term swing to the right.

    Or perhaps that is his purpose?

  24. 24
    The Mirror says:


  25. 25
  26. 26
    Steve Miliband says:

    Most of your money ends up in the HMT bank account anyway. They don’t seem to understand that if they take less in direct taxes they will end up taking it in indirect taxes. Net result – tax take the same, but at least people will be spending and creating demand

  27. 27
    I don't need no doctor says:

    That is shit. When labour left office the national debt was £800 billion. You must be labour as you don’t know the figures.

  28. 28
    Disappointed yet again by these knuts says:

    Yup, there goes my vote too. Time for a real revolution?

  29. 29
    I don't need no doctor says:

    At the last election labour’s national debt was £800 billion. Funny how the media has a selective memory.

  30. 30
    Ah! Monika says:


    Twelve men have been arrested in Oxford by police investigating child exploitation offences.

    Police said the men aged between 21 and 37 were arrested following an investigation into exploitation of 24 girls aged between 11 and 16.

    No mention of ethnicity. Any guesses?. Police are reassuring residents.

  31. 31
    let's all ride the exiting train of europ'an integration says:

    I thought the budget was okay.

    The borrowing figures are still worrying though and spending should have been cut.

    However, I think we all forget how bad things were during Brown’s reign of terror 1997 – 2010. Remember he massively increased the state (both by employment and reliance on the state) and effectively won 3 elections (he set domestic policy, not blair). Undoing this damage will not be quick or easy. We are all still suffering the effects of Brown’s deranged rulership. It is pretty clear that Osbourne wants to tax those in work less and reduce the size of the state. We might all believe that a diversity coordinator on 50k is a waste of space but they have bought a house and had kids based on that salary. Remember Brown added 1m of these people and they’re basically unemployable. It is not easy to deal with this problem.

    I think that the attitude of the Federation of Small Business summed it up this morning. He wanted government finance for exporting goods and a new government agency for advice. He said that the corporation tax cut did not effect his members as they don’t make profits. If the FSB is arguing for more state intervention and saying that business doesn’t make profits then I think it shows how successful Brown has been in creating state dependency.

    At least we have a slow but sure strategy to reduce the size of the state and also the tax take. The government has made loads of mistakes but it is generally on the right track. We will be dealing with Brown’s toxic legacy for the next 30 years (as the current young generation were indoctrinated and a significant proportion of “the squeezed middle” is actually the high paid public sector). The worst thing that could happen would be to take the required radical steps (slash spending 50% slash taxes 40%) but suffer a backlash and have labour (under godfather brown) back in in 3 years time. I’m generally okay with the slow but sure strategy.

  32. 32
    sockpuppet #4 says:

    “like a bucket of sick on the front-pages”

    Well thats the best thing about newspapers, protects the floor. Also useful for lighting fires, and putting under the catlit tray.

  33. 33
    Steve Miliband says:


  34. 34
    Aunt Mat says:

    Only the stupid pay taxes.

    Smart people pay accountants.

    Greece – here we come!!!

  35. 35
    Professor says:

    Only in the U.K. could the biggest rise in old age pensions for years (£280. 80p per year), be described as robbing grannies. Where is the cut?

  36. 36
    MAD FRANKIE HADDOCK son of COD says:

    The Tories said they would half the deficit over the term of this parliament when in actual fact they are borrowing more than Brown ever did
    Clueless Liars that have absolutely no idea how to stimulate growth or indeed run a country
    When people said that the tories in their current form were Un electable they were right , and come the next election they will be slaughtered by that little Rubber faced gonk Milliband
    and we will be sentenced to another 4 terms of Labour

    Do Nowt Dave and his Clueless bloody Toffs !

  37. 37
    Time to Get revenge on the Hippy Generation says:

    The generation that said don’t trust anyone over thirty and then went on the fuck the country up is going to have to learn the gravy train is over.

  38. 38
    Not Ken again. says:

  39. 39
    Anonymous says:

    Jesus. Why did you spend all that time in the City and not understand how it works.

    UK gilts are being kept low by UK banks who are sucking them up as the quid quo pro of that £500bn QE blow job.

    See Liam Halligan in the Telegraph.

  40. 40
    LabourNutter says:

    Why are we waiting? Answer: Nick Clegg

  41. 41
    A pragmatist says:

    I have always preferred to put most of my ‘pension’ money in Cash ISAs. You can trust banks and building societies better than you can governments. But relatively well-off pensioners should be made to suffer more than the poor young people who can’t get jobs. And the cut in the 50% rate for the rich should help them invest more in this country and so help my two grown up kids get jobs. The Tories should push more the fact that the 50% tax rate is the HIGHEST in the G20.

  42. 42
    I'll have some of that says:

    What happened to all that talk about how the Tories had been taking lessons from the Canadian approach to deficit reduction? Osborne is too clever by half, and, unfortunately not as smart as he thinks himself to be. Fiddling while Rome burns.

  43. 43
    MAD FRANKIE HADDOCK son of COD says:

    And wiping your arse when you can no longer afford bog paper !

  44. 44
    Jake the Pake says:


  45. 45
    Anonymous says:

    Surprise surprise Osborne has said he doesn’t pay 50% tax! He gets a ministerial salary, he gets a government funded car, house, flat, etc, he own 15% of Osborne and Little (dividend income), etc. Is he employing tax accounts and tax lawyers to avoid paying his fair share of the tax?

  46. 46
    A pragmatist says:

    and who smell of piss.

  47. 47
    meme says:

    Yup – tory have not laid the groundwork – and left labour to say ALL THE CUTS are torries fault.

    Labour could spin for 18 years that all the pain was due to last tory government.

    Conservatives have forgotten how to govern.

    By time of election as the cuts get deeper and deeper – the labour “too fast, too deep” will start to make way

  48. 48
    Everard P Burgerpenis says:

    Tax all the retired people who, with all day on their hands, could go to the bank or Post Office any time of day that they like, but instead choose to go during working people’s lunch hours.

  49. 49
    Shrink the State says:

    10%, please

  50. 50

    As we have written about on here many times. Pay attention.

  51. 51
    A pragmatist says:

    That’s what he is doing by removing the extra pension allowance for the over 65s. And let’s hope Ossy Osborne can plug some of these tax loopholes that rich people like Ken Livingstone so effortlessly abuse.

  52. 52
    sockpuppet #4 says:

    I wonder if that chap in Toulouse has had a good kip.

    I guess he’s not one of the people that Sarkozy described as “the france that gets up early”.

  53. 53
    Anonymous says:

    Still you have to contribute your fair share so that super rich can get a tax cut.

    In your time you had cheap houses, free education, final salary pension, etc. It is time to pay up now. Wait for Osborne to come after your house when you need care.

  54. 54
    Richard says:

    The Conservatives offered no effective opposition to Gordon Browns squandering, and they are making no effort to reverse any of his spending plans

  55. 55
    MAD FRANKIE HADDOCK son of COD says:

    They wont have to queue in the post office anymore as they will have fuck all to queue for and once the PO’s are all sold off they will be queuing in indian takeaways or off licences in what used to be a post office

  56. 56
    Biff Boff Baff says:

    Let them eat cake

  57. 57
    Gonk says:

    Calm down Guido. It’s not the end of the world. It’ll take time.
    In other news, has Gordon visited Mali recently.

  58. 58
    A pragmatist says:

    What is stupid is thinking that higher tax rates will somehow encourage the rich to invest in this country rather than in other countries ( 50% is a higher rate than any of the G20 countries). The idiots who complain about the cut in the top rate are the same idiots who complain at high unemployment and low growth figures. Where do these people think that real jobs come from? The fairy godmother.

  59. 59
    Ah! Monika says:

    When are the cuts to begin?

  60. 60
    Steve Miliband says:

    tax on tinned coleslaw

  61. 61
    Anonymous says:

    Guido, why don’t you go after Osborne in the same way you went after Ken and ask Osborne about his tax fiddle?

    In any other job people have to pay tax on car, house, etc given by your employer as well as tax on dividend income. Why not Osborne?

    Are you biased Guido?

  62. 62
    KommieKicker says:

    50% tax rate is a disgrace, and as it is he’s only “slashed” it to 45%.

    Labour put the higher rate in as a temporary measure anyway.

    Back to the gulag with you, komrade.

  63. 63
    meme says:

    pensioners are our smartest folks – proved this by living long enouff…

    but now they are paying for a HUGE mistake THEY made….

    THEY VOTED FOR LABOUR in three elections… now they PAY!

    they knew from history if they allowed labour in for 3 terms – it would be worse than when labour won 2 terms – so granny stop complaining – you reap what you sow!

  64. 64
    A pragmatist says:

    An election today would see Labour win but there isn’t going to be an election today. The Tories have a few years to reduce unemployment and create decent growth. If they manage that (and the cut in the 50% rate should help) the Tories will win as they did in the past. Yesterday’s budget will be forgotten about in a few weeks. And if they don’t manage growth and cut unemployment and the budget deficit they won’t deserve to be re-elected.

  65. 65
    MAD FRANKIE HADDOCK son of COD says:

    And just how much do you think it is now ?
    and how much do you think it will be when this idiot leaves power ?
    oh do tell ?

  66. 66
    More bad News says:

    Glaxo to create 1,000 jobs
    UK’s biggest drugmaker to invest £500m following Budget tax breaks.

  67. 67
    Anonymous says:

    You can always put import tax on countries like China which manipulative its currency to help exports and reduce imports.

  68. 68
    Very Wealthy Wind Farm Gentry says:

    Look, let’s not be rash here.

    Expensive and unreliable energy is the way forward. True, it will involve people losing jobs, depressing the economy and high overhead cost, but you have to face up to the facts of life.
    It also means with all that lovely government subsidy, I get fabulously rich and when all is said and done, that’s all that matters.

  69. 69
    A pragmatist says:

    At least the smell of curry will take the smell of piss away.

  70. 70
    nellnewman says:

    Well that was a coalition budget not a tory budget.

    I wonder whose advice it was to impose the grannytax?

    The tories need to get rid of these wet libdems and start governing properly.

  71. 71
    High Street Shopper says:

    They are more likely to turn into payday loan companies and betting shops

  72. 72
    Cap'n Burdsaye says:

    Religion of peas?

  73. 73
    Anonymous says:

    Look at the past Tory leaders and look at the jokers who lead Tories now. Cameron and Osborne lived off their parents and living off government now, when did Tories have people like this before?

  74. 74
    A pragmatist says:

    I thought he owned the newsagents.

  75. 75
    sockpuppet #4 says:


  76. 76
    smoggie says:

    It’s higher now. What has this LibDem Misled Coalition being doing all this time?

  77. 77
    Great Granddad says:

    On national (and international) television Osborne has announced that the British Government is prepared to enact RETROSPECTIVE legislation to achieve its aims. I have been unable to find one mention of this remark in the readable section of the British mainstream press, nor in any blog that I have yet looked at.

    Can it be that the lack of any outcry indicates progression from Nanny State to Police State has been accepted by the British People? Can these be the same people that I shared my boyhood with when the bombs were falling on London? Whatever happened to those stalwarts who lived along the Mile End Road?

  78. 78
    Anti-trough says:

    That’s because they were in on the PFI action. Thieves the lot of them.

  79. 79
    MandyPickleSniffer says:

    I’m sure the Tories would have been able to do a lot more in terms of cutting spending & cutting taxes if they weren’t constantly being forced to water down their ideas by the annoying Lib-Dems yapping at their heels. These hippy dippy’s who know absolutely nothing about running a country (and will never get the chance to) have just been nothing but a major headwind. I get Lib-Dem leaflets thru my mailbox and all they ever seem to do is backstab their coalition partners….almost like they’re more anti-Tory than they are anti-Labour! Unbelievable cheek from a bunch of ungrateful twits. If Labour hadn’t spent 13 years gerrymadering the electoral system, Cameron would never have had to bring on such a poisonous partner to get a ruling majority.

  80. 80
    KommieKicker says:

    There is a trajectory that has to be followed. Think polynomial graphs.

  81. 81
    Cringle says:

    ….Osborne is spending more than Brown, borrowing more than Brown and taxing more than Brown. The official numbers revealed yesterday show that spending is still rising in real terms,…

    Has there even been any government capable of reducing public spending? I doubt it is possible as at the same time that cuts are made in some areas expansion takes place in others. This suggests there is nobody really in charge of expenditure overall and probably stems from government making responsibility a departmental only basis. In effect there is no chief accountant with responsibility and control of all the company accounts.

  82. 82
    Showbiz_for ugly people says:

    Guido biased? Shurely shome mishtake?

  83. 83
    smoggie says:

    He says he wants to dies with “his weapon in his hand”. I guess the frogs are just waiting for him to go for a pee.

  84. 84
    A pragmatist says:

    Not counting PFI and all the rest.

  85. 85
    Damian McPoison says:

  86. 86
    Anonymous says:

    When did paying failed bankers million in bonus, giving they tax payer money and giving tax cut became fair?

    Next Osborne might want to give bank robbers bonus and tax cut.

  87. 87
    sockpuppet #4 says:

    I have heard them pushing that. But of course its not the full story. Other countries do take more off the rich, they just don’t call it income tax.

  88. 88
    A pragmatist says:

    Especially the Star on Sunday

  89. 89
    smoggie says:

    And they will retaliate and we’ll not be able to export Jags and Range Rovers there.

  90. 90
    Ichabod says:

    Heard the Chancellor being interrupted by jangles Davies on Today this morning, and then as sure as night follows day, up pops little baldy Robinson, eavesdropping by the open back door, to oil his way in and offer us his rubbishy opinions on what he’d overheard. Toenails, you are behaving like the school sneak and it is not doing your reputation any good; what a risible superfluous figure you are becoming.

  91. 91
    U R Hall-Wrong says:

    Look, there is no such thing as a grannytax!!

    They are having their free-pay threshold frozen to let all other workers catch up when we get the 10,000 pound threshold next year.

    This is to simplify tax and get all the free-pay limits in line.

    Isn’t it a bit rich that pensioners who are probably home owners with no mortgage and thousands in the bank and good size incomes are wanting young people with low pay and hardly any work prospects to pay for them to live in luxurious retirements.

    Pensioners have had the best of the economic booms over the past 40 years, young people have to now pick up the tab for that.

    The young are our future and need to be treated as such.

  92. 92
    Taxpayer says:

    Taxing pensioners using the same system of allowances as people who work for a living is a good idea. It means that pensioners will have to think abut working people more when they vote for goodies for themselves.

  93. 93
    I'll have some of that says:

    Tax relief on one way tickets to Zurich for the over 60’s would be a start

  94. 94
    Taxpayer says:

    True. Pensioners have been voting for goodies for themselves, payable by borrowing money that they expect their grandchildren to work their whole lives to pay the interest on.

  95. 95
    MandyPickleSniffer says:

    Miliband & Harman represent the anti-aspiration party. They will never quite understand that a 50% tax rate is a major sign reading “Fuck off, we don’t need your business, go to another country”. It raised hardly any money and yet had a major negative symbolic effect. You want to attract business like Hong Kong & Singapore? The first thing you need to do is create an environment where, if you work your butt off and succeed, the government won’t steal HALF of your money!!
    And, if you want a level playing field…why exactly should old-age pensioners have such a significantly higher threshold before tax kiks in compared to everyone else? Besides, Gordon Brown and Labour are the genius masters of the Pensions Raid game, so who the heck are they to put up this mock outrage?

  96. 96
    smoggie says:

    It’s piss easy to avoid so everyone does. Make it a reasonable sum and people will find it cheaper to pay up than to invest in tax avoidance measures.

    Lowering tax rates actually can increase tax revenues as Maggie and Ronnie proved.

    One detects the hand of old Vince in this token reduction of 5%.

  97. 97
    A pragmatist says:

    Liam Halligan is good though. Best economic reporter by a country mile.

  98. 98
    smoggie says:


  99. 99
    MAD FRANKIE HADDOCK son of COD says:

    He won’t have got much sleep as those inconsiderate police officers
    have been playing with stun grenades all night outside his flat

    talk about noisy bloody neighbour’s

  100. 100
    Gordon Brown says:

    It’s not like he robbed them £100bn like I did

  101. 101
    Her we go blame everybody but yourself says:

    Trying to figure out which fkin planet you just arrived from, from smiling sailor, Wilson, EEC , fckin high high inflation, the pound in your pocket etc, get grip, we’ve paid our way all the way and now it’s time to slow down, you tossers go and start to blame the pensioners, the prices of houses and the price of fuel and everything else is due to inflation bad management and bad government, your fkin fault for allowing it to carry on and not turning on the thieving MP’s when the knock on your door and asking what’s in in for me if I vote for you thieving corrupt bstards

  102. 102
    A pragmatist says:

    True and it all depends on the loopholes. Osborne is doing something about that. Brown never did. He was as clueless about tax loopholes as he was about banking.

  103. 103
    81IIy 8owden i5 7he gre@test ump1re ever ! says:

    its not rely fair on him when it was the fault of the socalists before he came to power

  104. 104
    MAD FRANKIE HADDOCK son of COD says:

    We will need them to ward off all the fuckin Tory depression !

  105. 105
  106. 106
    Cricket is for huhnes says:

    I seem to remember everybody laughing at Brown saying 0% growth – Guido now talks about “flat-lining growth” – are they perhaps related?

  107. 107
    sockpuppet #4 says:

    the Metro. its free. I sometimes get brow beaten into buying an enormous sunday paper. At least 50%(*) of which is instantly useful for placing my buckets of puke on.

    (* in reality thats 99%)

  108. 108
    Rage Against the Political Elite. says:

    More TAX this year, maybe a bit of relief in 2013, WOW. That is if we get that far, I would wager that we will have defaulted by then, so the 2013 promise wont matter.
    Fu-king Wanker has made sure that we can blow any of the TAX payers money on a continuation of the Phoney Wars. Well done Cameron, obviously you are a bit like OBAMA, NOT IN CHARGE.

  109. 109
    MandyPickleSniffer says:

    you are perfectly correct….there is no such thing as a granny tax. It is a catchphrase made up by the Press, and clearly Labour will milk it for what it’s worth. And yet, a rational person would actually see your point….that it merely freezes their free-pay threshold until everyone else catches up, and then we’ll all have a £10k allowance.

    It’s just like when DC made a very basic observation about how some of the angry, bitter, disillusioned kids out there just simply need a bit of understanding & communication rather than immediately being branded as useless criminal thugs….and next thing you know the press is having a field day with “Hug a Hoodie”. They just love a good slogan, don’t they? How about a slogan for Osborne nailing the non-doms and non-residents who’ve been hoovering up all the prime properties in London? How about a catchy headline about all the Hunts who avoid stamp tax by buying thru an offshore company, and now they’re gonna be nailed by a 15% rate? Nothing…not a word.

    And for Miliband to do his whole “nod your head if you’re for it, shake if you’re against” is just pathetic considering how many millionaires there are on the Labour side who have thoroughly milked the system for all it’s worth. Besides, that was Cameron’s line from one of the PMQs when he taunted Labour for making such a stink about the Eurozone treaty without acknowledging whether they themselves would sign or veto the treaty if they had been in power.

  110. 110
    MAD FRANKIE HADDOCK son of COD says:

    It’s not free pay you tit it’s been paid for over a 50 year working life
    it won’t affect dossers who never worked !

    Grow up ! No better still FUCK OFF !

  111. 111
    A Pension Pilfering Prick posing as PM says:

    I say chaps! I thought Ozzers did a dashed fine job – watt?

    The only little spat I have with him is that he didn’t give more loot to Wind Farmers! Dashed bad luck! Still, I think he might fix that on the quiet – watt?

    And remember chaps, – anyone with some room on their estates for another wind farm – DO get in touch!

  112. 112
    Well it's a thought says:

    Wouldn’t worry Gordy, your name will live for evermore in the history books of thick, brainless deadbeat prime ministers of the northern quadrant of the empire of the EUSSR, they will make it required reading for school kids to read your books, as they wouldn’t want any person to get too uppity as they might climb the greasy pole and take over an EUSSR masters perch.

  113. 113
    ex-Tory says:

    Osborne has copied Brown: screw the pensioners but don’t mention it in your speech, let them find out later by reading the small print, by which time you’re safely out of the Commons and the glare of the TV cameras.

    I never thought I’d say this but Osborne and his chum Cameron are becoming worse than Brown/Bliar. They talk big about cuts but are spending more than ever. The welfare bill keeps on rising to pay for scroungers and growing numbers of immigrants while Osborne keeps on borrowing more, and now screws the pensioners to pay for it all.

  114. 114
    A pragmatist says:


  115. 115
    Mzzz. Shagged in Sarf'ampton says:

    If you really wanna get screwed, go next door to Portsmouth!

  116. 116
    A pragmatist says:

    Surely by reducing the pension allowance he IS cutting spending?

  117. 117
    Well it's a thought says:

    Get a grip your being used by to deflect blame to others.

  118. 118
    Ted Mustard says:

    Osborne is spending more than even Brown did. Welfare benefits are increasing by over 5%, foriegn aid is ringfenced, quangos are multiplying, and he is borrowing like crazy and robbing workers and pensioners to pay for it.

    It will all end in financial disaster.

  119. 119
    Market Trader says:

    He’s cutting pensioners allowances but welfare benefits are going up by 5% and spending in almost all govt departments is going up year on year.

    Cameron has decided to rob pensioners and middle income families and increase the country’s overall borrowing rather than cut the size of state spending. He’s worse than Brown. At least Brown was a leftist, Osborne and Cameron pretend to be Tories.

  120. 120
    Taxpayer says:

    No, the blame lies firmly on that generation which fucked the country up over the last thirty to forty years

  121. 121
    lol says:

    There’s a very active Tory Party troll on here today spinning away for Osborne.

  122. 122

    Yeah – Churchill, the useless shit, lived off his parents social position, AND got into Harrow because his father was a toff, and what did he EVER do for this country? Well, apart from fighting and reporting in the Boer war. And getting captured and escaping, yeah but what else?
    Well sodding up the Dardennells, which turned out to be because he had been given crap intel on Ottoman strength, and then went and fought in the trenches because he felt responsible…. but what else, ay? Oh yeah came back, warned about A Dolf, saw us through WW2, wangled the septics in to funding and fighting. But what else, HM? Just from a man who lived off his nobby parents legacy – you fucking ignorant classist racist twat.

  123. 123
    Taxpayer says:

    Rubbish. There are loads of freeloading pensioners costing us a packet through the NHS and all their ‘concessions’

  124. 124
    He Who Pays The Piper says:

    Verily, it is written by the soothsayers of the UN, that those who must live under International Socialist Corporatism ( Global Fascism ) shall suffer mightily for the good of the few.
    Indeed, our green servants and enablers, work tirelessly to ensure our utopian world is made flesh and suffering, poverty and helplessness are abundant.
    It is the sustainable way forward children and thus, is humankinds only hope of saving Mother Gaia.

    The Lords Psalm Chapter 21, The Sustainable Agenda.

  125. 125
    Well it's a thought says:

    It’s seems that Camoron and Osbrne don’t need people to vote for them , they have people telling them they are the greatest thing since sliced bread, we can wait, damage may be done by these twins, but one off’s seems all they want to be , wonder if this will get through the m o d.

  126. 126
    Taxpayer says:

    He’s not ‘robbing’ pensioners, he’s reducing the extent to which they can cushion themselves from the effects of high government expenditures they are willing to vote for everyone else to pay for.

  127. 127
    misterned says:

    The tories never promised to reduce the national debt. They only promised to slowly stop it growing over the term of a parliament. They will fail in this as the OBR figures show that it will take 2 years longer than they thought. (largely because a lot of the cuts they wanted to make were blocked by lib-dems, or lib-dems increased spending commitments)

    NONE of the three parties promised to reduce the national debt. The pre-election plans of all three were for the debt rise throughout the Parliamentary term but at a slowing rate.

    The coalition are still on course to significantly reduce the deficit over this term and have no deficit and a balanced budget by 2017 Only then can the debt begin to be tackled.

    That is how HUGE the deficit that the coalition inherited was. The only way out of it is to replace large numbers of public sector jobs with private sector jobs working in businesses that bring income in from overseas. We need a LOT more inward investment coming into this country. In 1997 the UK used to have more inward investment than the rest of the EU. Labour strangled that and replaced it with public sector growth instead, funded largely by taxes on the financial industry which labour allowed to run amok.

  128. 128
    watson says:

    Giddy is only the kiddy in short pants just out of school. It’s his civil servants and uncivil advisers who are screwing us pensioneers

  129. 129
    Fish says:

    From the conversations that I have had with fellow fogies, no-one seems particulalry bothered.

    It seems that this is largely synthetic outrage manufacturedby the MSM.

  130. 130
    The Sleeper says:

    What a fucking moron.

    I guess your parents are in their early thirties.

  131. 131
    Aunt Ethel says:

    We only do it to piss you off, it’s entertainment to us.

  132. 132
    mark says:

    the reason is simple:
    1. osborne hasn’t got a clue about what he’s doing: he’s a slow witted former wallpaper salesman — i suspect he barely knows how to tie his shoe laces. running an economy is far too big for – in osbornes case – ungifted amateurs
    2. as a result he has fallen for the classic civil service trick and is now their puppet. hence taxes are rising, spending is increasing, borrowing is out of control, unemployment is on the up, interest rate policy is a joke, growth is at best flatlining if not negative. you only need to look across the pond to the US and see the opposite is the case.
    Britain is officially dead and has been killed off by the tories and lib dems. no need for the last person to turn out the lights on leaving, theyre already flickering.

  133. 133
    Fog says:

    The media are whipping up hysteria over this budget. The journos don’t understand it but need to create scaremongering headlines. All yelling about the ‘granny tax’ including The Sun – has it gone over to the dark side? Except The Star who think their readers are more interested in tits, I mean Simon Cowell.

  134. 134
    Gawd Help Us says:

    That’s his brother, easy mistake to make.

  135. 135
    bing says:

    easy mate

    the job centa

  136. 136
    I Remember You Hoo says:

    If you listened yesterday, Osborne droned on about even more public, private, partnerships. Words fail me, the only bright light was increased use of gas, hopefully shale gas, among a sea of the low carbon / green claptrap and lies.

  137. 137
    misterned says:

    Reducing the astronomic rate it was increasing at.

    I agree that the coalition have been too timid about reducing spending and reducing taxes in areas which stimulate economic activity, but if you look at the annual budget deficit, over the last few years it has been going down, rather than shooting up as it was under labour.

  138. 138
    bottom says:

    the farts are on us – yippee!!!!!!!!!!!!!

  139. 139
    Desperate Dan says:

    Poor Alan Rusbridger and Kevin Maguire and Mark Thompson and Polly Toynbee and Jeremy Paxman and Mark Byford and John Humphries and Nick Robinson and all those lefty hypocrites with their £500,000++ pensions. They’ve really taken a beating in this Budget and now the snivelling cowards are hiding behind poor little “grannies”, who won’t be affect in the least.

  140. 140
    Fish says:

    He did mention it in his speech. As I am retired I was able to watch it live and understand the implications.

    What everyone seems to have refused to acknowledge is that there has been huge uplift in the personal allowance as there will be again at next year’s budget. There is no justification in the ARA therefore – why should pensioners have this privelege (on top of free prescriptions, bus passes, free home insulation – to say nothing about a significantly reduced cost of living).

    NO Pensioner is taking a tax increase.

  141. 141
    The Sleeper says:

    Since when have pensioners been responsible for the profligate spending of the last fucking Government?

    How have pensioners fucked up the Country over the last 30~40 years?

    …and to U R Hall Wrong…how did they get their mortgages paid off,with some money in the bank?…..

    …By working fucking hard…Tosser!

  142. 142
    Doiinnnngggg says:

    anyone would think they’d never been governments before newlabour – no sense of a history of exploitation of the masses hey????? fuckwit

  143. 143
    Lord of the Manor says:

    Betrayed by Tory nouveaux riche politicians. Will never vote Tory again. The Blaggards. Am pondering supporting this UKIP chappie who tells the Frogs and krauts to shove things up their jacksie.

  144. 144
    I Remember You Hoo says:

    I am baffled, perhaps the local Imam might know?

  145. 145
    The Sleeper says:

    They’ve paid their fucking contributions to the NHS ,you t w a t.

    Probably, unlike you.

  146. 146
    misterned says:

    Do you even know the difference between deficit and debt?

    Firstly, the tories did NOT promise half the deficit. That was labour’s promise. The tories promised get rid of the budget deficit over the term of one parliament. They are on course to fail, but they are also on course to do better than labour’s promise of only halving it over the term of a parliament. It should be down to between 20 and 40 billion by the next election.

    The Deficit was 152 billion in the year the election happened. Since then it has fallen to 126 billion. It is on course to be far LESS than half by the time of the next election (according to the Office of Budgetary Responsibility)

    That is different from debt. In the simplest terms, if the government has any deficit at all, that means that they borrowed to pay out more than they received in income for that year. This means that the deficit is added to the total debt owed. (UNLESS the reason they borrowed more was to make bigger payments to reduce debt, paying off more of the debt than the amount of the deficit, and if they managed to borrow at a lower interest rate than the debt that they are repaying)

    I am a bit fed up that this far into deficit reduction, people are STILL getting “debt” and “deficit” mixed up and falsely claiming that the tories promised to get the national debt down.

    NONE of the parties promised to reduce the national debt AT ALL.

  147. 147
    Doiinnnngggg says:

    and Cameron and Osborne and Duncan Smith and Grayling

    shall i go on….????

  148. 148
    GrandMa Furious says:

    piss off sonny jim

  149. 149
    I Remember You Hoo says:

    “I’m generally okay with the slow but sure strategy.”

    I’m not, there are huge savings to be made in Quangoland with relatively few casualities that would be missed. Local, regional and national government could be trimmed by 20% – 25% easily, without any noticable effect and departments like DfID cut altogether. Then of course there is the corrupt and unaccounable, moneypit called the EU who we give £50 million a day to be ordered around by………

  150. 150
    Desperate Dan says:

    Tory politicians are old money. Its the Labour front bench who are nouveau millionaires – that’s why they act as though they were brought up in the gutter – they were.

  151. 151
    GrandMa Furious says:


    watch out for a Granny gang near you soon, we’ll beat you up sumfin good

  152. 152
    Felicity Kendal Mint Fake says:

    Truth is what we have in the UK is not a squeezed middle but a squeezed majority. On an an average income of £25,000 after income tax, NI, council tax, utility bills, mortgage or rent payments, travel costs, childcare costs etc etc there is pretty much nothing left. This has actually been the case since the end of the second world war but has in various periods been masked by advances in manufacturing and agriculture (including making goods in countries with low wages) which led to a lower cost of living ( a washing machine for under £200). Housing booms have also artificially made people feel prosperous and/or allowed people to borrow money they didn’t have. But hang on if we are one of the wealthiest nations on the planet where has all the wealth gone? Left and right wings are both correct – it has been taxed and gone both on public spending and been siphoned off by financial institutions (mostly banks) who have used a variety of schemes to ensure that as money goes round the system the ‘muppets’ money has a sizeable chunk taken out of it. This system of squeezing the masses has worked well for 60 years but not the wheels have come off as the bloodsuckers got too greedy

  153. 153
    I'll have some of that says:

    Nighty night. Twat.

  154. 154
    The Sleeper says:

    Original and intelligent….congratulations.

  155. 155
    BOG says:

    I fink its called choice steve – you know, like in a proper democracy – rather than being marched to the death chambers by this lousy load of pigshit corparate managerialists (nazis)

  156. 156
    Doiinnnngggg says:

    you believe the proaganda, no?

  157. 157
    misterned says:

    No wonder the Eastern European states are not in recession with tax rates that low.

  158. 158
    Doiinnnngggg says:

    go ask the unemployed

  159. 159
    misterned says:

    If Cameron had given 80% of tories what they wanted, by offering a referendum on membership of the EU, He would have killed off UKIP and won that majority in spite of the gerrymandered seat boundaries.

    Instead he is one of UKIP’s greatest recruitment sergeants.

  160. 160
    Doiinnnngggg says:


    if the NHS goes private are they going to get their money back – don’t think so??

    national insurance – one big ponzy scheme

  161. 161
    misterned says:

    “.Osborne is spending more than Brown, borrowing more than Brown and taxing more than Brown. The official numbers revealed yesterday show that spending is still rising in real terms”

    Which is what they promised to do. Perhaps people have been taken in by the BBC’s bullshit, but the truth of the matter is, that the tories only promised to increase spending, but by less than labour had promised. The tories never promised to reduce spending, but increase spending more slowly and spend 1p in the pound less than labour had planned.

    Why are people surprised now that debt is still increasing, (as promised)? Or that spending is increasing, (as promised)? Or for that matter that taxes are increasing?

  162. 162
    BOG says:

    Felicity Kendal Mint Fake says:
    March 22, 2012 at 10:33 am

    Truth is what we have in the UK is not a squeezed middle but a squeezed majority…
    exactly right … and the problem is the lumpen proletariat doen’t see it because they, too, are into being greedy

  163. 163
    Desperate Dan says:

    I can’t read all that. Its far too long.

  164. 164
    misterned says:

    And the media are ignoring the largest weekly increase in the state pension for many many years. (+£276.12 more per year). Remember Brown’s miserable 70p per week raise? (which was wiped out by council tax increases, fiscal drag and loads of new stealth taxes)

  165. 165
    Anonymous says:

    Robbing grannies to fund tax cuts for millionaires? Since when has this been Labours ‘mess’?

  166. 166
    Baby Boomer says:

    Well they have lost my vote. I voted for my local Tory candidate at the last election but not next time. It’s appalling that all my hard work is being punished.

    I live in a town packed with east european families from Roumanian, etc who happily live on benefits in between getting drunk on cider and who have increased crime levels in a pretty country town as they favour knive crime.

    I pay for them and have never claimed a penny in my life. Now I get shafted for my thrift and hard work and honesty.

    The Tories are simply Blu Labour.

  167. 167
    Anonymous says:

    Tories have been in power for 2 yrs. Cant keep blaming them for Tory f*ck ups.

  168. 168
    Sungei Patani says:

    I’m not judging, but…@ 9:50: Brilliant post!

  169. 169
    Sungei Patani says:

    Get your facts right. The amount paid in tax as a result of the budget, by the extremely wealthy, after the reduction of the top rate of tax to 45% will be much higher than if the budget as a whole had not happened.

  170. 170
    Mrs Hargreaves says:

    Slightly less that £3 per week then. Hell, what to spend it all on. I presume from the comments that a good few people here are being hit by the top rate tax band?

  171. 171
    Ivor Tapeworm says:


    And most Labour morons don’t understand the difference between national debt and structural deficit.

  172. 172
    New Town Toff, Edinburgh says:

    Osborne has mugged “middle income” pensioners – i.e. those who made sacrifices from modest incomes to try and secure a little comfort in retirement. He has not touched: 1. pensioners with little or no income above the state pension age (because many of them couldn’t be arsed saving for a pension when younger) and, 2. those with a pension of £30k a year or more (AFTER their 25pc tax-free lump sum) – for example so-called executives with non jobs in the public sector or poor little rich boys with inherited wealth and whose daddy owned a wallpaper conglomerate (any names spring to mind?)

  173. 173
    Anonymous says:

    “there is no hope of for an “expansionary fiscal contraction” if there is no fiscal contraction.”

    I wouldn’t worry mate, there’s no hope for it even if we did have fiscal contraction. Largely because it’s a myth and it doesn’t exist.

  174. 174
    Anonymous says:

    that’s no way to talk about the site owner

  175. 175
    Dr Fash Habbard says:

    There seem to be a few frothing at the mouth nutcases out early today. Always good to read your views, which have been variously described as “rabid”, “pig-ignorant” and “stultifyingly ill-informed”. So, thanks for those. In the meantime, I going to consult myself about my tax affairs and then decide to avoid paying my dues on the basis that I think am somehow exempt from such trivialities. Seeing as I only earn £20,000 per year though, I should be in court in about two months’ time.

  176. 176
    Ivan says:

    We are indeed the fortunate lucky generation of baby boomers who had a working life in a long term growing economy and an overly generous welfare state which provided good primary and secondary education for our children and then provided them with a completely free university education. And now, even in our retirement we benefit from free travel, winter fuel allowances and soon, for me anyway, a free TV licence. I have no problem with my tax free allowance being frozen at £10,500. Just wish the media and some OAP’s would stop whinging about how badly done by we are.

  177. 177
    PC Mac says:

    Nope – a minority all of their own, called “SCUM”.

  178. 178

    Hi Professor – I think you’ll find he was the making the purile Downton Abbey plagiarism gag in parliament … oh sorry I misread that, you had said cut.

  179. 179

    OY!! I know lots about wanking though!!!

  180. 180
    galloping granny says:

    I’m one of the so-called mugged pensioners, but I can live with the frozen allowances. I never understood why I got them in the first place. I’m very pleased that younger people with children, mortgages, etc. will soon get the £10,000 allowance.

  181. 181
    galloping granny says:

    Here, here – you put it better than I did.

  182. 182
    Desperate Dan says:

    Well said.

  183. 183
  184. 184
    M says:

    Will Fred the shreds pension be taxed proportionately to that of an average pension ?

  185. 185
    Blind leading blind says:

    We’re waiting for the “big giveaway” budget in 2014 – the pre-election year. There’ll be another balanced one next year.

  186. 186

    Thank you Sungei- sorry for the delay, had to have a lie down after that rush of blood to my head.

  187. 187
    Red says:

    cos osborne does not have a personal service company into which he pays his donations and other income and charge his advisers as CT deductible salaries…

  188. 188

    Truthfully, most got relocated to Dagenham when their homes were flattened – but I know what you mean. We do seem to let our rights get pissed down the drain without so much as a wimper

  189. 189
    GuidoforHire says:


  190. 190
  191. 191
    Post hoc says:

    Budget was brilliant tour de force – shame the medja can’t keep up!

    I, for one, am very grateful, and no, I am not a corporation or a 50% rate tax payer, but a humble oik, fed up of red tape and hmrc. Thank you Mr Osborne – thank you for having the courage to do what was needed and for joining up your thinking.

  192. 192
    Ivor Tapeworm says:

    …and the East Europeans generally have a simpler, flatter tax system.

  193. 193
    'cutio says:

    I am opening a Chapter of Hell’s Grannies in North London. Look out!

  194. 194
    'cutio says:

    Pe@ce man!

  195. 195
    'cutio says:

    Don’t look at me when you say that…..@120

  196. 196
    'cutio says:

    @123 you a Fabian. I detect eugenics in your breath.

  197. 197
    'cutio says:

    I don’t very often agree with your posts, but you are spot on here @152

  198. 198
    Jon T says:

    “east European families from “Roumanian, etc” – no offence, but have you any idea how stupid that sounds? Firstly, I think you mean “Romania” not “Roumanian”, secondly the fact that you use the word “etc” tell me you haven’t the slightest clue as to where they are actually from.

    Tried talking to them? No? How do you even know they are East European? You say nothing of the gutteral, slouching tosspots who make up the ne’er-do-wells among our own homegrown young people (yes of course they’re a MINORITY), who also get drunk on cider, cheat benefit and favour knife crime.

    Perhaps you mean them?

  199. 199
    K.L. (london) says:

    Rich Jews,


  200. 200
    Anonymous says:

    This pensioner increased allowance thing.
    It only applies up to about £24K. After that amount the taxman takes it back bit-by-bit until you are back to basic. So the only people who will lose it are the ones who saved a bit and got a good private pension (usually keeping a couple but counted as income for one) below £24K (circa £17K plus state pension). The ones above this pension income never got it anyway so haven’t been hit. Osborn has only hit the little people who made an effort to invest for their future.
    I doubt that any retired MP has ever received the age-increased personal allowances.

  201. 201

    The sell out that is Cameron couldn’t even beat the stinking mire that was Browns Labour, he needed the Hunhes to form a government. The spending goes on and on and….

  202. 202

    Labour landslide as Fibdem voters turn to Labour. Tory voters after 5 years of Bluelabour put their collective heads in the gas oven, or lemming like chuck themselves over Beachy Head.

  203. 203
    Handypara says:

    Agreed, but it would look much fairer in a programme of real government spending cuts including targeted cuts in benefits. It remains unacceptable that families with income of £80k to £120k receive child benefit.

Seen Elsewhere

Mirror Hacking: 50 Legal Action Claims | Press Gazette
Mandy’s £400,000 Tax-Free Loan From Own Company | Guardian
Why We Must Remember the Holocaust | Hugo Rifkind
“Adjustments” Not Cuts | Gary Gibbon
The New Puritans | Alex Wickham
British Minister in Watch Gaffe | Straits Times
New Tory, New Danger | Laura Perrins
UKIP Could Work With Dave If Price is Right | Douglas Carswell
Cops Catch Crims With B.O. Test | Techno Guido
Bashir’s “False Account” to His Own Lawyers | Times
Injustice of Tax Avoidance Hysteria | City AM

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