Balls Has a New Excuse

Welcoming Stamp Duty reform, the Shadow Chancellor dodged the obvious question. Why didn’t Labour do it when they were in power?

“We could have done it but we didn’t because we had other things to do, like not join the euro…”

And the bloody rest…

Did SNP Plan to Scrap APD Nudge Osborne?

Air Passenger Duty may generate £3.2 billion a year for the Treasury, but Guido wonders why George doesn’t just go out on a wing and get rid of the tax altogether. It would hardly be terminal for the UK economy – a projected fall in the deficit of £6.2 billion by 2015 would more than cover the cost to the Exchequer and the move would encourage more flights into to the UK.

There was a growing problem on the APD front too – all the evidence seems to suggest that the SNP are going to remove APD altogether on Scottish flights – creating competition from north of the border to Newcastle Airport in the soon-to-be Northern Powerhouse. That could be what made the idea fly…

Everything You Need to Know About the Autumn Statement

growthstatement

Helpfully compiled by the BBC.

Osborne’s Poll Ratings Slide
As Conservative Lead on the Economy Grows

As Osborne delivers his Autumn Statement today, a YouGov poll for the Sun finds his personal ratings have dropped from -3 to -8 over the last nine months. Optimism that the economy will improve is down from 39% to 25%, while pessimism is up from 23% to 32%. The Chancellor’s credibility will hardly be helped this afternoon when he announces OBR numbers confirming he has missed his deficit forecasts and that there is a £50 billion black hole in public finances, when in the same speech he pledges:

  • £3 billion extra cash for the NHS
  • £15 billion for road improvement infrastructure spending
  • £400 million extra to the British Business Bank
  • £500 million of new lending guaranteed
  • No fresh cuts

Cynical Neo-Keynesianism nevertheless appears to be paying electoral dividends for the Conservatives, proving once again that voters prefer jam today to jam tomorrow. This generation of voters prefers to put the burden for its profligacy on the next generation…

osborne-poll

The Times leader puts it plainly: “What is clear is that he has decided to risk what progress has been made towards repairing the nation’s finances on an electorally inspired spending spree that will have to be funded… at least partly with debt.” Douglas Carswell has a point when he says Osborne will today deliver Gordon Brown’s 18th Autumn Statement

UN Special Envoy Slams Miliband’s Mansion Tax

United Nations Special Envoy and High Commissioner of the UNHCR, Angelina Jolie, has voiced her concerns about Ed Miliband’s mansion tax:

“I’m quite responsible about money. That could put me off [moving to London].”

Wonder who could have put her up to that…

Clip via Channel 4 News.

Greens Will Still Bill Oddie

First Myleene Klass, now Bill Oddie:

Guido hates to break it to Bill that his new preferred party are no friend of mansion owners either. In addition to their wealth tax on people worth over £3 million, and their so-called backdoor mansion tax whacking up rates for wealthier home-owners, the Greens also propose a draconian Land Value Tax. This is from their website:

“Land, the primary source of all real wealth, is the common heritage. We acknowledge that land is held in trust by human society on behalf of other species and future generations, and that land should not be treated as a capital investment nor traded for speculative profit. We therefore assert the principle that no person and no body should have absolute control of land, but only particular rights over the use of it.

The Green Party proposes introducing LVT as a tax payable on the annual value of land… The level at which the tax would be levied would be based on the full value of the current permitted use of the land… Where a property rockets in value, LVT would seek to tax that windfall increase in property value to be re-invested back into the community.”

What’s a mansion owning North Londoner to do?

Working Klass Hero: The People Back Myleene Over Ed

You know it’s bad when the Staggers have to try to spin Ed’s going over by Myleene Klass on last night’s Agenda. Apparently “this row could work in Miliband’s favour.” Hmm, not if the voting public are anything to go by…

Today’s poll on Metro just about says it all:

At least he didn’t sniff a fellow guest on the show, this time.

Who Are These Immoral Tax Raisers?

moral-taxes

“The government has a moral duty to think of these people [taxpayers] in any decisions made on tax and spending” says the Prime Minister. “But what is morally wrong is government spending money as if it grows on trees. Every single pound of public money started as private earning” he continues in The Times.

So who immorally raised VAT to an eye-watering 20%? Who has maintained high combined national insurance and tax rates on everyone earning above minimum wage at Gordon Brown levels? Who allowed inflation to push some million more of the middle classes into the higher rate bracket?

Who introduced 509 tax rises since being elected in May 2010? Who is planning to increase the share of GDP that is taken in taxation by the state to higher levels than under Gordon Brown?

£513 billion in 2009-10, representing 36.5% of GDP
£648 billion in 2014-15, representing 37.0% of GDP
£778 billion in 2018-19, representing 38.1% of GDP

Who would be so immoral?

Tax Avoiding Guardian Sets Up Rival to Tax Avoiding Amazon

Are you a bookworm who can’t bring yourself to boost the profits of a nasty offshore tax-avoiding corporation? Alan Rusbridger has a suggestion for you:

[…]

+ READ MORE +

CON 35 / LAB 34: Tories Take Poll Lead for First Time Since 2012

Tax cuts are popular? Who knew![…]

+ READ MORE +

Osborne Cuts 40% Boundary Back to Brown Era Levels

2009-10-bandsGuido hasn’t seen this reported anywhere else in the news, the PM’s forward promise to move the 40% threshold up to £50,000 means that the rate will kick in at the boundary level last seen in 2009/10 under Gordon Brown. […]

+ READ MORE +

Tax Rabbit Saves Dave’s Conference

Guido has never seen a tax cut that he does not like so Cameron’s speech today was certainly lively. The hall loved it and Dave hit their sweet spots in a way he has not since before the last election. […]

+ READ MORE +



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Quote of the Day

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“A decision to leave the EU is not without risk, but I believe it is the ideal and idealistic choice for our times. Taking back power from arrogant, unaccountable, hubristic elites and putting it where it belongs. In people’s hands.”

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