Gorden Brown’s proposed tax relief
Gorden Brown and chancellor of the Exchequer Alistair Darling are in heated talks over an extremely large tax relief. The tax relief is said to be in the region of about 30 billion pounds, about 2 per cent of the value of the British economy. This tax give away is said to be subsidized from income tax & VAT. Which the prime minister wants to do as soon as possible to restore some stability in to the economy. By putting back some of our money back into our own pockets could actually help people back in to spending, thus helping the economy. This appears to be a backlash of past donations from the tax payers pocket, to be put right back into the large banks, which we haven’t yet seen a rise in bank borrowing. Nor a share in profits!
Mr Darling is putting pressure on number 10 to not exceed 15 billion in this proposed tax cut. Number 10 are seen to apply these tax cuts for future growth and stability which will allow them to regain the money through future taxation to balance the books. Mr Brown wants these tax cuts to be taken place by Monday, Where Tory leader David Cameron will be on the prime minister’s back for further taxation yet to come, to balance out the massive tax giveaway.
Signs from the chancellor Office, Mr darling isn’t being pushed over to easy, and the prime minister is putting on more and more pressure. Compared to last year when it was said that Gorden Brown had full control of the treasury And that Mr Darling let him hold control, this has shown some strengths coming from the treasury, who will not be backed in to a corner in a hurry to reduce the amount that has been proposed.
