Thursday, 23 April 2009

Last one left please switch out the lights

Well, that was a good, brave and popular Budget, wasn't it?

Amidst all the fuss over the cynical new 50% tax rate - of 'won't raise much/any money but hopefully forms a trap for the Tories' fame - it's interesting to remember that it was only 30 years ago that the top rate of tax was an eye-watering 83%; and Thatcher was in power for nine years before she was able to take it down to 40%, in 1988. You tend to think that Maggie got in and, bang, higher rates of income tax were slashed. But it wasn't like that.

1 comment:

dNo said...

Do you remember when budgets were about balancing the books and making the country stronger, rather than just borrowing off the Chinese and trying to catch the Tories out in a stupid game?
I'm starting to think maybe Kenneth Clarke would be a good idea. How does one vote for a Chancellor???