Monday, November 24, 2008

The DFS Prime Minister?

Ben Brogan is reporting that the 45p income tax rate for those earning over £150,000 is not the really big deal in the PBR. He reckons that we should keep an eye on national Insurance contributions instead, which, unlike the 400,000 that would be hit by a new income tax rate will hit the otehr 22 million of us that earn money.

Of course, Brown has to very careful here if he plays with the other income tax we all pay - sorry, it's not an income tax, it's a tax on earnings, it's different don't you know. NI is meant to be hypothetcated to pay for the NHS, we all know it isn't. If he does decide to sting us all by proposing massive rises in the NI contributions we make to claw back his profligacy in spending, then he really would be walking into the Tory charge of a bombshell.

It seems incredible that he may be gambling that people will happily take sweeties for free today in the knowledge that they don't have to pay for them later. Perhaps we should rename him the DFS Prime Minister because it all sounds like a sofa sale.
"Buy now. Pay later. Nothing to pay for the first year!"

Mind you, isn't that exactly the attitude that got us into this mess in the first place?


Matthew Cain said...

Matthew Taylor seems to be arguing that the tax rise could actually be popular as people will want to know that everyone is doing their bit:

Old BE said...

Matthew: if that was true then Gordon would be planning an austerity budget - which he is not.

I have long referred to Gordon as the Buy Now Pay Later Chancellor - if only in my own head. Pleased to see that others think the same!

Anonymous said...

shouldn't that be "buy now. PAYE later"?

Anonymous said...

Gives me an idea for some creative work... Hmm...

Any way, wasn't it Brown that said Cameron was a slick salesman? With the "BNPL" approach isn't he looking more like a desperate salesman?? If I were Cameron or Osborne I would use that line against them today.

Hacked Off said...

Simply Not Fit For Purpose

The Penguin

Anonymous said...

Clearly Gordon Brown is nothing like a sofa salesman.

A sofa salesman would never be so reckless as to say buy now, pay over 8 years!