Only picked up on a couple of things - 50p tax rate to be dropped to 40p to help the struggling rich - and Osborne to propose plan to pay lower salaries to public sector workers in poorer parts of the country.
With prices rising all the time surely there should be some provision to help the folks at the bottom end of the scale.
Maybe thats why he's changing the rules about public sector pay. A recent report showed big differences between public and private around the country. I think the worse area was Wales where the average public sector employee was earning about 18% more than the bloke next door working for a private company...surely that can't be seen as fair can it?
Also, minimum wage has just been increased by 11p per hour.
Its also expected the tax threshold will increase, (with a nod towards the lib dems), by much more than is usual, so again helping those at the bottom proportionately more than the well off.
As for the 50p rate, most think it will get cut to 45p. But ignore the headlines and look at the evidence. Theres mountains of evidence throughout modern times, and across the world showing that a lower tax rate brings in more revenue. Increasing the tax rate just encourages the rich to use loop holes or take their money elsewhere. I saw a good example of this the other day on the news when the owner of Hull City threatened to take his money to Holland where the tax rate is much less unless it was reduced in the budget. And this is the man who has just donated £100K to the labour party after a love-in with Ed Milliband....that sort of attitude hardly helps the poor!
Topic: The Budget (Read 4802 times)
