21 March 2007

Brown's Reverse Robin Hood Budget

Gordon appears to have misread Robin Hood. As a good socialist, he was supposed to tax the rich and give their money away to the poor. Instead, as even MPs in his own party have pointed out, by abolishing the 10p tax rate, he is effectively taxing the poor (especially those without children) to keep those on middle incomes happy (especially those with children). The rich will probably be unaffected either way by today's spectacle. Furthermore, he's also taxing small businesses to the profit of big businesses.

Maybe the great leader-in-waiting has simply lost the plot...