smokescreen for budget [libya]

[MikeS]

according to sunday times this year's budget is going to include ;

1. 17p rise on 20 ciggys [stamp duty]
2. increase NI contributions by a penny on every pound
3. reduce tax allowances on households who earn over 40k a year
4. increase personal tax allowance to 7.5k
5. defer fuel duty
6. increase stamp duty on alcohol

bad enough we are giving this government a pound of tax for every litre of fuel we buy

on average we are taxed 34% minus our personal tax allowance on everything we earn

 

[little_pob]

"Perhaps it is a universal truth that the loss of liberty at home is to be charged against provisions against danger, real or pretended from abroad."
- James Madison
​

First it was a pay freeze (public sector worker) now looking at a pay cut (NI increase and reduction in personal allowance)?!

Can only assume the projected 3 years to get rid of the deficit was at risk, but lets not tax the people that got us in the situation (i.e. banks and other finanial institutions).

...a pound of tax for every litre of fuel we buy...

Using The AA's figure of 132.9p per litre for the March 2011 UK average, then 25.15p is VAT and 58.95p is duty = 85.1p per litre to the Government. Exorbitant? Yes. But not a quid, yet.