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Friday, May 11, 2007
Memo to George Osborne: How to Cut Taxes
Simple. Go and ask Australian Finance Minister Peter Costello how to do it. See HERE.
13 comments:
Anonymous
said...
Helps if:
- you or your predecessors have spent the last decade deregulating, not over-regulating; - you or your predecessors haven't spend the last decade wasting other people's money on unreformed public services and their unions; - you have a big budget surplus not a deficit at the top of the economic cycle, like Broon has somehow managed to give us; - your country has lots of raw materials and there has been a massive boom in China; - you aren't subjected to strangling diktats from Brussels; and - you aren't next to slow-growth France and Germany.
George Osborne will I think have a very worrying inheritance in 2009-10 if the Conservatives win.
pj is absolutely right about the specific situation in Oz but interesting parallels for Broon and the UK.
All those years of sustained growth (allegedly) which have given him the reputation as the big "fister" will not save him from being ousted at the next election - which should be in October this year if there was any justice!
St George of SMEs and hard working people is our champion and patron saint. I trust him do what's best for UK.
He will reduce the individual and small business tax burden, cut Stalin Broon's crippling morass of irrational and contradictory red tape - and in a sensible manner, keeping the economy stable. He won't make us a boom and bust economy.
Broon has never run a company or done a proper job in his life. His irrational, crushing, clunking fisted hatred and ignorance of SMEs has done immeasurable damage. Broon's irrational old Labour predjudice is ripping the vital SME heart out of UK's economy in the same way that he and nulab rip the heart out of our communities.
But Broon's been well and truly rumbled now and he's done for.
PJ is right. Moreover, from a political perspective, Costello's selling point from this budget hasn't' been tax cuts (at least not yet) - it's been a fund that, when set up, with give additional grants for spending on tertiary education.
Rudd has been trying to paint the Coalition as lacking a vision for the long term future of the country. Costello's answer is this new fund.
Anon @ 10.31pm sums up the real basis for the dislike held by some in the Tories for Cameron and Osbourne: reverse class prejudice, which is utterly pathetic, and if anything worse than the real thing. Get over it.
Having met a few of your upper-class types at University I can sympathize with the original 'anon' comment. I have also met quite a few working-class twits as well - so this is not a class winge.
Having lived around the world and now in Australia, the tax bite seems pretty high. It is not just taxes, but fees and charges, which hit hard on the average budget. Personally I think that they could reduce taxes more. Australia is in love with taxing and giving back through middle class welfare such as child care subsidies, baby bonus and family assistance. How about just simplifying the tax system? As a point of detail, Mr Costello is the Treasurer, not the Finance Minister, a post which does not exist in Australia.
I lied. There is a Finance Minister or rather a Minister for Finance and Administration, Nick Minchin. The Treasurer, Peter Costello gets all the kudos or brickbats, however in terms of presentation of the Australian Budget.
13 comments:
Helps if:
- you or your predecessors have spent the last decade deregulating, not over-regulating;
- you or your predecessors haven't spend the last decade wasting other people's money on unreformed public services and their unions;
- you have a big budget surplus not a deficit at the top of the economic cycle, like Broon has somehow managed to give us;
- your country has lots of raw materials and there has been a massive boom in China;
- you aren't subjected to strangling diktats from Brussels; and
- you aren't next to slow-growth France and Germany.
George Osborne will I think have a very worrying inheritance in 2009-10 if the Conservatives win.
Problem being that George Osborne and most NuTorys are seen as upper class twits, which of course is what they are.
So, is being an upper-class twit better or worse than being a NuLab middle-class twit (Blair/Brown) or a NuLab working-class twit (Prescott)?
Peter Costello's finest hour.
http://tinyurl.com/yr9d5p
(Psst if you're going to join the ALP don't ever have been in a rock-band)
pj is absolutely right about the specific situation in Oz but interesting parallels for Broon and the UK.
All those years of sustained growth (allegedly) which have given him the reputation as the big "fister" will not save him from being ousted at the next election - which should be in October this year if there was any justice!
St George of SMEs and hard working people is our champion and patron saint. I trust him do what's best for UK.
He will reduce the individual and small business tax burden, cut Stalin Broon's crippling morass of irrational and contradictory red tape - and in a sensible manner, keeping the economy stable. He won't make us a boom and bust economy.
Broon has never run a company or done a proper job in his life. His irrational, crushing, clunking fisted hatred and ignorance of SMEs has done immeasurable damage. Broon's irrational old Labour predjudice is ripping the vital SME heart out of UK's economy in the same way that he and nulab rip the heart out of our communities.
But Broon's been well and truly rumbled now and he's done for.
Auntie Flo'
PJ is right. Moreover, from a political perspective, Costello's selling point from this budget hasn't' been tax cuts (at least not yet) - it's been a fund that, when set up, with give additional grants for spending on tertiary education.
Rudd has been trying to paint the Coalition as lacking a vision for the long term future of the country. Costello's answer is this new fund.
Anon @ 10.31pm sums up the real basis for the dislike held by some in the Tories for Cameron and Osbourne: reverse class prejudice, which is utterly pathetic, and if anything worse than the real thing. Get over it.
alexander 2:59AM
Having met a few of your upper-class types at University I can sympathize with the original 'anon' comment. I have also met quite a few working-class twits as well - so this is not a class winge.
What, Iain, work up "a forecast A$10.6 billion surplus and a flood of corporate tax receipts from a booming business sector" and pay it down in cuts?
Sounds like sharing the proceeds of growth to me.
Iain, people who were on the functionally innumerate Davis campaign shouldn't talk about tax.
Having lived around the world and now in Australia, the tax bite seems pretty high. It is not just taxes, but fees and charges, which hit hard on the average budget. Personally I think that they could reduce taxes more. Australia is in love with taxing and giving back through middle class welfare such as child care subsidies, baby bonus and family assistance. How about just simplifying the tax system? As a point of detail, Mr Costello is the Treasurer, not the Finance Minister, a post which does not exist in Australia.
I am well aware he is Treasurer. I used the term Finance Minister because everyone would know what it meant!
I lied. There is a Finance Minister or rather a Minister for Finance and Administration, Nick Minchin. The Treasurer, Peter Costello gets all the kudos or brickbats, however in terms of presentation of the Australian Budget.
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