Wednesday, October 18, 2006

Money talks for Midlands Industrial Council

Members of the Lincolnshire-based club that bankrolls Cameron’s Conservatives HERE will be delighted with today’s news that the people charged with coming up with Tory policies are recommending massive tax cuts of £21 billion.

Many members of the Midlands Industrial Council who were named for the first time at the weekend are also members of the so-called Taxpayers Alliance which lobbies for tax-cuts.

Tax cuts for the few which will inevitably mean cuts in public services for the many...?

Same old Tories then.

8 comments:

Michael Oakeshott said...

I think you need to read it again Phil, and this time engage brain. The proposals would lift low earners out of tax, raising the threshold from 5k to 8k a year - are these people rich? Also advocated taking two percent a year off the middle rate, benefitting those earning upto 25k a year - are they rich? Maybe you just think the Government can spend their money better than they can?

As for trying to cobble together two completely unrelated stories: it shows you for the amateur you are, and perhaps explains 1) why your career has peaked at council level and 2) the lack of traffic here. It is rather like claiming many mass murderers will benefit from a reduction in global warming.

Keep trying Phil.

Brynley said...

The independent economist Robert Chote has run the tax cut proposals through his number crunching machine.

He says that the beneficiaries are the very well off.

So Phil gets it right.

And Oakeshott's still out of earshot.

Bruno (Skegness) said...

Michael, are you one of us?

Liz said...

Yes the proposals will lift 2m low income people out of the tax threshold. However, middle income earners will lose out( these are not wealthy people) as they will not be entitled to child tax credit. They will also lose other employee benefits such as that given to those who work from home. Taking away the stamp duty on shares will greatly benefit the rich as will inheritance tax. Taxes on green issues will also effect the poorest in society disproportionately. I am quoting from the Independent Fiscal Studies Report on the proposals. In all 2m is a low proportion against those who will benefit greatly. This is not a political statement (I will be one who benefits). I think it is right to challenge assertions from those contributing to the debate but it is rather offensive to hurl personal abuse (MO). It demeans the debate.

Michael Oakeshott said...

Be serious "Liz", the well off don't pay Inheritance Tax, they employ accountants to work out way around it - my grandparents did and they weren't even that wealthy. The only people who pay it are the lower middle classes, who Labour despise. And don't you think it is good that someone who earns 8k a year should pay no income tax? I do, and I bet they will too come polling day. As for the "independent economist" - so ONE economist expresses an opinion and that is the end of the debate for "Brynley". Even a GCSE economics student would be told to guage other opinions before reaching a conclusion. D- for effort. As for stamp duty, it should give a much needed boost to pensions and shares, after the Brown stealth raids. As for Green taxes, I agree with you. They are a farce and I would hope Tory MP's would be able to force any future Dave Government to abandon such a silly scheme in Parliament.

Regarding the personal abuse for Phil. Entirely merited, after his entirely unrelated swipe at a group of businessmen who have made a legitimate living and made a perfectly legal donation to a political party.

Brynley said...

I'm sorry that Michael is getting so worked up.

Inheritance tax is a valuable part of a fair and just nation.

It raises £3.6 billion and the genuinely wealthy tax evaders need to be reconciled with their responsibilities.

Michael would have a point if he was arguing that the housing bubble had outrun the inheritance tax threshold (which, even so, currently affects just 8% of all estates) and needed to be raised. In fact it is being raised to £325,000. Anything below is exempt.

But dear Michael is at least honest enough to express his disagreeement with Tory Tax stategy - he opposes all green measures - so we should thank him for being such a sport and enjoy his mouting sense of outrage at Dave Cameron and the Tory policies.

What a treat is in store for us when Michael gets up to speed.

fairdealphil said...

Michael:

Thanks for the compliments.

Good luck with your career.

I'll keep trying.

fairdealphil said...

hope you keep trying too Michael.