Tax relief for the rich

Sorry should that be the 'wealth creators'?  George Osborne has decided that it would be a great idea to cut the 50p rate of income tax.  Basically this means a tax cut, but only for the very rich.

Osborne is resorting to 'plan b' here as he claims that the 50p rate has not generated anywhere near the amount of income that it should have.  This is causing some disagreement with their Lib Dem allies who think it should remain.  Here is your chance Clegg and Cable to stand up and be counted and go against Osborne.  Go on, you know you want to...(what are the chances do you think?).

These plans could not have come at a worse time.  With literally thousands of public sector workers about to loose thier jobs a tax break for the very rich seems like even more of a kick in the pants.  Osborne has no real idea what he is doing and there is no guarantee that this new plan will work either.  I think the first thing that needs to be looked at is VAT.  I don't understand the idea of 20% VAT.  If you want people to start spending then you need to cut the prices of things.  I know a lot of people will disagree with this, but when Labour cut VAT to 15% a lot more spending took place and there was growth in the economy.  However, if Gideon wants to look out for his mates who is going to stop him and explain that to him?  Clegg?  Cable?  Anyone?

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