May 24, 2019

George Osborne says 20 percent VAT rise “permanent”

Golly being decisive is actually rather arousing. I might venture to add it is 20 percent more arousing.

UK Chancellor George Osborne has indicated that the rise in VAT to 20 per cent brought in yesterday will be “permanent” (unlike his political career).

An unrepentant Mr Osborne made it clear he would prefer to lower income tax or National Insurance contributions before he brings VAT back down again. Mr Osborne needs to remember that his preference is not as important as the voters preferrence.

The Chancellor has been boosted by a survey of 78 leading economists suggesting they are confident his strategy, including the VAT rise and accelerated public-sector cuts of £81 billion in four years, will get the British economy back on track and avoid a double-dip recession. Is that double dip with nuts on and a flake stuck in it?

Newswarped wonders why we only ever get surveys of leading economists. What is wrong with surveys of average economists? Or even barmy ones? Most rational taxpayers would see anything endorsed by ‘leading’ economists as decidedly dodgy.

The debate over VAT comes as the coalition government is set to announce that business growth will become its new priority to drive the country forward, with a target of creating 40,000 new businesses in the UK by 2013. So what was the governments ‘old’ priority for the last 12 months? Piss the tax payers off maybe?

Prime Minister David Cameron will announce the creation of 40,000 business mentors to help new start-ups, along with a new Business Coaching for Growth scheme. So that makes David Cameron God now because he is going to ‘create’ 40,000 business mentors.

David’s great deal is start a new business and get a business mentor free. Mr. Cameron is not very specific what these new businesses would be doing other than distracting successful business people by sucking them into a giant mentoring vacuum. Speaking of vacuum’s, this massive mentoring scheme has got money black hole written all over it.

“Together, we can make the years ahead some of the most dynamic and entrepreneurial in our history.” says Mr. Cameron. Hurrah!!!! Entrepreneurial spirit is what the goverment needs instead of the imaginationless “lets raise VAT” strategy that past governments have employed. Perhaps they could ask one of their new business mentors to help them?