Bless him; our somewhat elderly (perhaps scholarly) Trade Minister, I think, has exceeded his ‘sell by date’ by a good margin. I think the nurse needs to come and administer the medicine.
Land Tax, have we not been there before with rates? This system was reformed by the Tory’s to create the Council Tax since each person has a responsibility for paying towards local community services rather than just the landowner.
You can see it now cant you? The Lib Dems spin-doctors are desperate to create some still water between the Tory mantra and theirs in order to give the voting populace a proper choice instead of considering the Lib Dems as the ‘poodles’ of the Tory’s. They are so obsessive about higher rates of tax that they haven’t stopped to think if this will raise any more money for the Exchequer.
How many times do they need to be reminded that higher taxation does not necessarily raise a penny more in tax despite its laudable social intent? Arthur Laffer has demonstrated conclusively that lower taxation raises more money for the Treasury that can be spent on all manner of good social and welfare causes and it is this that any party worth its salt should be propagating.
However, in these austere times playing the politics of envy and kicking the rich seems to be a popular sport and it’s the age old sound bites that are being expounded by this Neanderthal academic whose experience in industry has all been long forgotten.
More money for the Exchequer is the Holy Grail and whatever fiscal measures need to be constructed to produce this should be carried out regardless of the negative political fall out that this may temporarily induce.
Lest we forget, 2% of the taxpayers generate 50% of the tax take. So the differentials are already heavily weighted against the wealthy.
Vince, take your medicine, lie down, and dream pleasant thoughts.