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.
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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???
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