Tory Death Tax
RIP: “The Most Basic Human Instinct of All”

Here is what the then Shadow Chancellor told the Tory party conference autumn 2007; George Osborne’s views on inheritance tax in his own words:

“Thanks to Gordon Brown, this unfair tax falls increasingly on the aspirations of ordinary people. These are people who have worked all their lives. People who have saved money all their lives. People who have already paid taxes once on their income. People whose only crime in the eyes of the taxman is that instead of spending their savings on themselves, they want to pass something on to their families. People who feel the most basic human instinct of all: they aspire to a better life for their children and their grandchildren.”

For the Tories of 2007 “the most basic human instinct of all” was providing for one’s children, reflected in a pledge to increase the inheritance tax threshold to £1 million. Their poll rating leapt up seven points on the announcement. Today, rather than cut spending to pay for social care reform, the government has announced that the inheritance tax limit will be frozen at £325,000 until at least 2019. A death tax on middle-class property-owners that will cost traditional Tory voters tens of thousands of pounds when they die. What a R.I.P Off…

Labour’s Taxing Line

Hardly a week ever goes by without Labour failing to label a reform to welfare handouts as “a tax”. This week everyone has fallen in line behind the phrase “bedroom tax”:

With Andrew Dilnot clearing up the debt and deficit confusion earlier, in the interests of accuracy and Guido’s sanity, he’s sending these confused souls back to school. Here is the dictionary definition of a ‘tax’:

“a compulsory contribution to state revenue, levied by the government on workers’ income and business profits, or added to the cost of some goods, services, and transactions.”

The so-called “bedroom tax” will see tenants in social housing who are deemed to be under-occupying their homes lose part of their housing benefit. See the difference?

The “bedroom tax” is not a tax at all, but actually a welfare transfer. If you are under-occupying your social housing you do not have to pay the state any money, you will simply receive a smaller handout from the taxpayer. But then Owen, and Kevin and Ian and Ed and Rachel all knew this already. 

The same applies to the nanny ‘tax’, the mummy ‘tax’, and all the other fake ‘taxes’ Labour types are inventing, a long with that imaginary “cheque” Cameron “wrote” to all those millionaires. This sort of misinformation is exactly why people hate politicians. They know what they are doing: being deliberately stupid to scare voters…

Flashback: Hodge the Dodge Hypocrisy in Full

Margaret Hodge is currently interrogating the ‘Big 4’ professional services firms at the Public Accounts Committee. The tax avoidance witch hunt moral arbiter says she has evidence that PriceWaterhouseCooper are using a “tax efficient operating model”, where they have set up AOL-style structures in tax havens like Luxembourg. Guido feels it is only fair to remind readers of Hodge the Dodge’s double standards.

All this hasn’t stopped her writing holier-than-thou letters to lefty magazines though…

One Term Tories II

Way back in August 2011 Guido wrote an article – One Term Tories – predicting that if the economy didn’t get going the Tories would not win in 2015. This was before it was fashionable, before Ed Miliband’s “One Nation” speech when he was still considered a joke by the Tories and well before the bookies made Labour favourites to be the largest party.  The article was re-tweeted furiously by the likes of Peter Hain and other Labourites who pretend not to read this blog.

Last night’s vote embedded Labour’s electoral advantage, psephologist Anthony Wells says the current constituency boundaries give the Tories a 7% to 11% electoral handicap depending on how the LibDems perform. Is Cameron doomed?

If the answer the electorate give to Ronald Reagan’s Are you better off than you were four years ago?” question is “No”, they probably are not going to be the largest party in 2015. This fact should concentrate minds in Downing Street more than any other issue, not Europe, gay marriage, HS2, Heathrow runways or any of the other side issues. Getting the economy growing is all that matters.

The government is going down a Keynesian path accelerating capital infrastructure projects – most of which will be shovel-ready in time to hand an incoming Labour government a growth boost. Ed Balls, the IMF, the editor of City A.M. Allister Heath and Guido all agree that an immediate stimulus would come from tax cuts. The Treasury resists the idea because it will widen the deficit. Well they are going to miss the deficit target anyway, you might as well miss it for the right reasons.

We can argue about what kind of tax cuts are best, Ed Balls and the IMF say a temporary VAT cut. Guido favours income tax rate cuts and threshold hikes, Allister Heath wants job creating cuts in business taxes. The Taxpayers’ Alliance revealed this week that the Coalition has raised 299 taxes. A flat-lining economy needs the government to get off its back and stimulate the economy, now.

MPs to Debate “Great Gordon Brown Repeal Bill”

How good it was of the Prime Mentalist to turn up yesterday. Here is one he will no doubt want to skip however: the Great Gordon Brown Repeal bill is to be debated in Parliament next week. The proposal to reverse Labour’s scrapping of the 10p tax rate will be discussed by MPs at 2:30pm next Tuesday. Guido hears Gordon will be receiving a formal invitation…

Russia Trolls France

Gerard Depardieu must be pretty desperate in his bid to flee Hollande’s socialism: he has been granted Russian citizenship by Vladimir Putin.

The former communist is now offering tax asylum to western Europe’s rich and famous. Russia’s 13% income tax rate is one sixth as oppressive as Francois Hollande’s unconstitutional 75% supertax. A sign of the changing times, Putin’s announcement was made via Twitter:

Trolling on an international scale…

Happy New Jarre

Not a bad way to kick off 2013: a world exclusive followed up by papers at home and abroad. Le Figaro and Le Monde reported Guido’s story that French rock star Jean Michel Jarre was considering “exil fiscal”. Amusingly Guido even beat HuffPo France to the story. En retard!

jarre

This side of the channel the Guardian picked it up despite initial scepticism, with the Mail and the Telegraph following suit. Happy new year…

World Exclusive: Jean Michel Jarre Says Au Revoir Socialism
Rock Star’s Secret Downing Street Talks About London Move

JARRE

Jean Michel Jarre, the only French global rock star, has been into Downing Street to discuss moving to London to escape Francois Hollande’s tax hikes. The French President wants confiscatory 75% tax rates for high earners.

In secrecy Jarre recently visited Number 10 to discuss his “defection”. The news that Downing Street is involved in discussions with another high profile tax exile from France will cause outrage in the Elysee Palace. Gerard Depardieu’s planned flight from Paris to a small village less than half a mile across the Belgian border caused an uproar and French Prime Minister Jean-Marc Ayrault  went so far as to call him “pathetic.”

gerarDepardieu countered that “I am leaving because you believe that success, creation, talent, anything different must be sanctioned”. Cinema legends such as Brigitte Bardot and Catherine Denueve quickly jumped in with statements of support for Depardieu. The rock star’s move comes shortly after Bernard Arnault, CEO of luxury giant LVMH and France’s richest man, national hero Johnny Hallyday and actor Alain Delon have also left France for tax reasons. London estate agents report French investment bankers, private equity financiers and high paid entrepreneurs making inquiries.

hollande-no-10When Hollande announced his 75% tax rate plan Cameron joked that he would “roll out the red carpet” for French tax exiles to the expressed annoyance of the Elysee Palace. French ministers widely criticised Cameron. The news that it was not mere rhetoric and Downing Street would literally welcome French rock star tax exiles onto the red carpet at No. 10 will infuriate President Hollande…

UPDATE: Downing Street were at lunchtime knocking down this story, by late afternoon they changed their synthesiser tune and said Jarre was indeed in talks to move his technology company to the government sponsored Tech City in London. Where the taxes are lower…

Guido’s Downing Street source says “He’s been into No. 10 to talk to us about defection – it’s like a crappy old spy movie…” The channel replacing the Berlin Wall, with French capitalists fleeing socialist France for freedom…

David Miliband and the Ugandan Tax Row

milibandDavid Miliband’s links to a controversial oil company that makes its billions in Uganda are back in the news today. The £500,000-a-year globe-trotter has faced scrutiny for his role in securing sponsorship for Sunderland FC from Tullow Oil, an […]

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Hundreds Call On Hodge the Dodge To Answer Questions

Tweet #HodgetheDodge

CLICK

Last night Guido’s twitter campaign to force Margaret Hodge into answering our tax questions saw hundreds of readers demand a response from the question-dodging MP. Under the hashtag #HodgeTheDodge, hundreds of tweeters flooded the Public Accounts Committee chair’s […]

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Tell Hodge the Dodge to Answer Guido’s Questions

CLICKGuido emailed over his questions to Margaret Hodge again today, alas once more he has heard nothing back.

You can help pile the pressure on Hodge to stop dodging our questions by joining the growing number of others tweeting her […]

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Miller Car Crash Interview Raises More Expenses Questions

Maria Miller has been well and truly skewered by the Standard this afternoon during an interview in which she tried to play down allegations about her expenses. Did Sir Thomas Legg, the man who carried out the first independent audit […]

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