Tuesday, 7 July 2015
Osbrone to repeat 2012 Omnishambles budget
There are to be £12 billion of welfare cuts, £11.5b if you exclude the radical and stupid idea of outsourcing over-75's licence fees to the BBC (it is a silly gamer, the licence fee is our money, like any other tax not the BBC's, the Government are just engaging in fiscal sleight of hand to cut the BBC budget a smidgen).
Also f note is the move t increase the inheritance tax threshold just as some welfare cuts are to be made. In the early years of the Coalition the Tories took a lot of flak, rightly, for cutting the 50p top rate of tax to 45p. At a time when the cuts are hitting the poorest, this is no time to do it.
The time to make radical tax cuts is in the 2 years before an election, not in its aftermath. You don't reward voters who have not served their purpose by voting, you look to store up the political capital to make them happy next time ahead of the next election.
Not that I vote Tory, but their sunny days in the polls are to be numbered if the Budget turns out as currently predicted.