Monday, April 24, 2006

Q- When is £4bn worth more than £7.8bn?

The Fossil Fuel Chancellor should work out that either or both of his tax system or his forecasters are wrong. Brown has Ballsed-up his corporate tax forecasts for the last 7 years, even with 2005's oil and equity price spikes. Yet he predicts £49bn of corporate tax will be paid in 2006, an amazing £14bn more than in 2004 and £7.8bn more than in 2005. But business doesn't want to be here anymore - life's too short for the UK's tax mazes.

The unjustfiable £7.8bn rise, in a tax that is less than 10% of total government revenues, is nearly double the £4bn of total tax cuts that Letwin + co reckon cost the Tories last May. So guys, how come no digs at Brown's sums?

The manifesto tax incisions, "cuts" would be hyperbole, didn't cost us the election. Voters will vote for tax cuts when they get offered cuts substantial enough to bother thinking about, in terms they understand. Which is exactly what combined 6 times winners Dubya and Howard did


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