http://edvaizey.mpblogs.com/2007/10/11/more-on-the-budget/ MP for Wantage and Didcot Tue, 6 Jan 2009 08:31:08 +0000 http://wordpress.org/?v=2.0.4 http://edvaizey.mpblogs.com/2007/10/11/more-on-the-budget/#comment-17975 Thu, 11 Oct 2007 23:57:09 +0000 http://edvaizey.mpblogs.com/2007/10/11/more-on-the-budget/#comment-17975 You may find you will be able to demolish this outrageous change from 10% to 18% by reading http://archive.treasury.gov.uk/budget/1998/irl7.htm .This basically explains why the then Chancellor (one Gordon Brown) introduced taper relief and how to be very fair and reasonable, they were going over 5 years to phase out retirement relief. We were all very impressed by this well thought out change which without doubt has contributed enormously to the success of the UK economy over the last 10 years. I fail to understand why the PM and Chancellor wants now to scupper one of his best ideas and for which he deserved, like Bank of England independence, enormous credit. The ramifications of this 2007 proposed change are enormous...if you can go from 10% to 18%, why if public finances get into even worse state, why not go to 20% or indeed 40%.Its the private sector that pays the public sector,and with oil running out, and little natural resources left, no private sector and we are all down the pan. You may find you will be able to demolish this outrageous change from 10% to 18% by reading http://archive.treasury.gov.uk/budget/1998/irl7.htm .This basically explains why the then Chancellor (one Gordon Brown) introduced taper relief and how to be very fair and reasonable, they were going over 5 years to phase out retirement relief.
We were all very impressed by this well thought out change which without doubt has contributed enormously to the success of the UK economy over the last 10 years. I fail to understand why the PM and Chancellor wants now to scupper one of his best ideas and for which he deserved, like Bank of England independence, enormous credit. The ramifications of this 2007 proposed change are enormous…if you can go from 10% to 18%, why if public finances get into even worse state, why not go to 20% or indeed 40%.Its the private sector that pays the public sector,and with oil running out, and little natural resources left, no private sector and we are all down the pan.

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