The budget in the UK has been announced. This is an "exciting" annual event. This is the Chancellor, Gordon Brown's, annual moment in the sun. Of course, he's looking for more sun soon as the Prime Minister, but for the time being...
Anyway, Gordo likes to make out that he's a swell and generous kind a guy. Sure, he taxes the rich, but only to give to the poor - especially the poor little tots.
Only it's a terrible lie and his current budget is a prime example. The headlines all read that he's cut the basic tax rate, but he's managed to actually increase the taxes on the very low paid while reducing taxes on those earning over $100,000.
Labour will tell you that the very low paid with children can always apply for tax credits. Sure, but you're forced to apply as a supplicant to Gordon Brown and entangle yourself into a notoriously knotty bureacracy. (The Treasury admitted only last week the system of credits was baffling.) But the point is that the young and potentially aspirational folks on low wages are hit with yet another Gordon Brown sucker punch.
What with taking maternity leave this year - I'm going to be taking a big old hit in the income. But we're only 11 pence (that's less than a quarter for US readers) better off under Gordo's plan. If I were still earning my fully salary, we'd be £138 better off under his budget. Surely that can't be right for a "redistributive" Chancellor?
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