Brown to raise taxes in 1st years as PM

#1
Here.
Sky News said:
"Taxes Up, Spending Down'
Updated: 08:28, Wednesday January 31, 2007

Gordon Brown will raise taxes and slash public spending by £10bn each in his first years as Prime Minister, a think tank has reported.

The Institute for Fiscal Studies said the current Chancellor would have to find the extra cash to meet his own set of financial rules over the next five years.

Its report also criticised Mr Brown's record while in charge of the Treasury.

Although public finances are stronger since he took over from the Tories ten years ago, the improvement has been smaller than that seen in most other industrial countries, it concluded.

It went on to accuse him of moving the goalposts by changing the dates of the economic cycle over which his fiscal rules are judged.

"Looking forward over the period in which Mr Brown hopes to fight his first General Election as Prime Minister, the Chancellor is aiming to cut his borrowing by a further £20bn over the next five years to stay on course to meet his self-imposed fiscal rules," it said.

"To that end, he is projecting a further £10bn increase in the tax burden and has pencilled in a £10bn cut in public spending."

The study said even if spending in areas like defence and environmental protection were frozen, education or the NHS may have to suffer.

It also pointed out Mr Brown may have to postpone targets for tackling child poverty as a result.

However, it added his "most likely strategy" would be to hope tax revenues improve enough for him to be able to lavish funds on child poverty in later budgets.
Defence cuts, education cuts, health cuts! No doubt some might go toward curbing child poverty if there's anything left after he and his Brown-nosers have had their cut! :shakefist: however there will be nothing left for child health provision, education or employment!


P.S. Apologies, edited to add link (adn psleling) :oops:
 
#2
That's to make up for the over-spending and over-borrowing he did for the last 10 years to make them look good. Now we have to pay it all back. The barsteward must have known all along, and if the next government has to raise taxes to pay for the over-borrowing of this one then I hope they lay the blame properly.
 
#3
Lets just think about this for a second... Gordon Brown, Labour govt, and higher taxes... nope still no shock.

What's next shock at Blair leaving/getting the push this year!
 
#4
No change there then. The Big Fat Jessie!!!!
 
#5
He sold off lots of our gold reserves too cheaply, presided over an 'all stick and no carrot' tax policy, and now he's about to take custody of the keys to Number Ten.

It almost makes Scottish separation from the UK look attractive.

Edited for mong typing
 
#6
Look on the bright side another nail in the coffin for the useless tw@ts at the elections .....not the best thing to announce 1/2 way through a Parliament plus with local election soon due....labour will get the kicking it rightly deserves
 
#7
I knew I hated him but until now I had no idea how much. How cheering put taxes up and cut spending!

Trouble is even if the Tories get in next time they are still left with this hideous legacy and will also have to f*ck the tax payer to make the situation better.

A freeze on defence spending and the environment - both areas which in my opinion are woefully underesourced. Health and education can never have enough funding they will always be bottomless pits. Perhaps decent management would be a better bet.
 
#8
Join the labour party and vote for the other guy not brown. He is out the door without getting control.
 
#9
The gist of this is reported elsewhere. Many have been saying for at least three years that we in GB have the mother and father of a financial crisis on the way.
I want to know who will be to blame when the stuff hits the fan ? It cannot be the Tories after ten years of New Labour misrule. It cannot surely be the new Prime Minister's fault. After all he was only the absolute financial dictator for ten years. Who's fault will it be ?
Blaming Bliar is a possibility, especially if he happens to be in jail. He should have had the guts to bin Broon years ago and therefore should shoulder the blame. What a shambles! Still people will vote for excrescence like Hain to be their MP, so I suppose we get the government we deserve.
 
#11
Yeah, I hear he is going to introduce eco taxes on military flights. Before you get on the casevac helicopter in Helmland, you will have to hand over £20 carbon tax or they leave you to have your googlies cut off by the Mudji.
 

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