|George Osborne delivers his budget speech|
People always say your paranoid, 'they' are not out to get you...
Well Osborne, who I have never been slow to criticise, has his revenge.
Today's budget has cost me £10,00 on the nose thank so to the collapse in share prices of our North Sea oil companies. Such companies have been doing really well of late, discovering bigger fields and eeking out a longer future for the UK as an oil producer - all the time with 50%+ of the profit going straight to the Treasury.
Sadly in recent days our lunatic attack on Libya has pushed up the price of oil, along with the results of our failed Middle East foreign policy. So to help the Government have decided to take a couple of pence off a litre of fuel by taxing our own oil industry (not Gaddafi's obviously!). It is a real budget gimmick too, petrol is up over 40p since last summer so a couple of pence neither here nor there.
The huge tax rise has really affected the City view of the smaller North Sea oil companies though.
And for me, this is the tipping point, they took child benefit away, I welcomed it. They put my taxes up to 65% by taking away my personal allowance. I grumbled but put up with it. They raised VAT, sigh. They allowed inflation to run away and I moaned a little. They even attacked my trading by upping capital gains tax and I was ok, because it was to pay the deficit.
But this time, this is it, now the Government have taken to smashing directly my portfolio. It is a purely personal attack on one of my last attempts to keep earning. Well I am never supporting the Tories again. Whatever I try to do the Government rob me; once you add in VAT, council tax, petrol and insurance taxes I am paying directly over 2/3rds of income to the Government.
Singapore or Switzerland?