England gets it

jimpeel

jimpeel

Well-Known Member
Cut taxes to spur economy. What a concept. It would be nice if Obama could take a clue from them.

SOURCE

Budget 2011: George Osborne fuels economy with surprise cut in petrol duty

George Osborne has announced a surprise cut in fuel duty in a Budget statement designed to help families and deliver growth and jobs.

By Rosa Prince, Political Correspondent 1:53PM GMT 23 Mar 2011

The Chancellor told the House of Commons that he had “put fuel into the tank of the British economy” as he announced that petrol duty would be reduced by 1p a litre from 6pm this evening.

In a move designed to help drivers suffering from record petrol prices, he cancelled a 1p rise in duty scheduled by the last Labour government for next week, and announced a "Fair Fuel Stabiliser" to keep costs down.

The move will be funded by an increased levy on oil and gas production.

In a 56 minute address, Mr Osborne also announced that corporation tax would be cut by 2 per cent, more than the 1 per cent reduction which was already scheduled, with further 1 per cent falls in coming years.

Funded by an extension of the banking levy, the tax will eventually be slashed to 23% from its current rate of 28%.

And he confirmed plans to raise personal tax allowances to £8,015, a real terms increase of £48 a year, or £126 in cash terms.

But there was bad news for taxpayers, after Mr Osborne announced that tax would in future be measured according to the CPI index, rather than the more generous RPI.

This is an effective stealth tax, because tax-free personal allowances will almost certainly be calculated at a lower rate in future.

And following a slew of poor economic announcements in recent days, he was forced to admit that growth forecasts had been cut by the Office for Budget Responsibility.

Other major announcements include a consultation on radical plans to merge income tax and national insurance, and to link the state pension age to longevity.

HM Revenue and Customs will examine how much the 50p top rate of tax raises, with Mr Osborne saying that he saw the measure as a “temporary” one.

There was help for first time buyers, more support for councils to fix roads, and a crack down on tax avoidance by the wealthy.

Charities were given a substantial boost, with new measures to simplify gift aid.

Mr Osborne said he wanted it to be the "norm" that people left 10% of their wills to charity, by announcing that the Government would match donations with a corresponding cut in inheritance tax.

Other measures include:

* the creation of 21 enterprise zones.

* energy bills to rise by at least £6 a year as a result of world's first carbon price floor for the power sector.

* a simplified, flat-rate pension to be created, probably at a rate of £140-a-week.

* a £50,000 charge for non-domiciled foreigners who have lived in the United Kingdom for 12 years.

* air passenger duty rise postponed for a year, and a new tax on private jets.

* no futher rise in alcohol duty, tobacco increase brought forward to 6pm today.

* business mileage rate increased from 40p to 45p.

As he concluded his speech, Mr Osborne said: “We want the words ‘Made in Britain,’ ‘Created in Britain,’ Designed in Britain,’ ‘Invented in Britain’ to drive our nation forward.

“A Britain carried aloft by the march of the makers. That is how we will create jobs and support families.”

But Ed Miliband, the Labour leader, attacked Mr Osborne over the downgrading of the growth figures.

He said: "One fact says it all and he couldn't bring himself to say it: Growth down last year, this year and next year.

"It's the same old Tories – it's hurting but it isn't working."

The AA welcomed the petrol duty cut, which will be paid for by increasing the supplementary charge on North Sea oil, describing it as a: "much needed tourniquet to drivers haemorrhaging money from record pump prices".

Edmund King, AA president, added: " Another price hike would have been the last straw for poorer drivers who spend a quarter of their household income on motoring.

But Stephen Joseph, chief executive of the Campaign for Better Transport, said: “The Chancellor has chosen to give motorists a hand-out while leaving other transport users to face spiralling fares and service cuts.

"Instead of cutting fuel duty, the Government should have done more to reduce our dependence on uncertain and declining oil supplies."
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Sure Jim...Obama should cut fuel tax by one percent, corporations tax by 2% and bank taxes

-- and in exchange, increase another dozen or so taxes and supplementary charges (like home heating fuels, tobacco etc...) to make up the difference.

Hmmm.... can you say Corp welfare paid for by YOUR paycheck? I knew you could *peepwall*
 
Who will save England's ass this time?

nah run the whole thing into bankruptcy
and nationalize it!
 
MrBishop said:
Hmmm.... can you say Corp welfare paid for by YOUR paycheck? I knew you could *peepwall*
Click to expand...

Corporations don't pay a single dime in taxes. Their customers pay them all. Of course, they hire 90% of the workers, giving them jobs in which to pay their taxes.
 
this is the central scrutinizer. it is my duty...

there you go with that struggling worker talk again.

"oh no! it's the professors and the managers that are messing it all up!"

lord love a duck, with hydroxytri-steel laminate. and send el jefe to a - shallow but full of eels with razor sharp teeth - watery grave.

just sign this card and we're on our way.

you'll love it. on the bus.
 
2minkey said:
there you go with that struggling worker talk again.
Click to expand...

Are you taling to me? I'm simply pointing out fact. I have no problem with it. Well, ok, maybe the managers are a little guilty. They need to justify their existence by creating stupid nanny-state type rules & sticking their nose in the way.

Tell me what you want done & get the fuck out of my way as I do it & all will be well.
 
Gonz said:
Corporations don't pay a single dime in taxes. Their customers pay them all. Of course, they hire 90% of the workers, giving them jobs in which to pay their taxes.
Click to expand...

Take a company making billions in profit/year and give them tax-breaks, so that they can make an even larger profit. What would you call that, if not corp-welfare? That's a game of protect the dividend/stock-holder.

What you said is similar to saying that you personally don't pay any taxes...it's your employer which pays for them all. Your paycheck is just smaller.
 
Bishy, never is a long time.

Out law all corporate taxes.

Once you've had CEO of a Chapter C corporation
legally attached to your name you'll understand.

Oh you say that will never happen?

Then that is when you will understand.
 
MrBishop said:
Take a company making billions in profit/year and give them tax-breaks, so that they can make an even larger profit.
Click to expand...

I fail to see the issue there. I'm also unsure, who is it making billions in profit?
 
MrBishop said:
Take a company making billions in profit/year and give them tax-breaks, so that they can make an even larger profit. What would you call that, if not corp-welfare? That's a game of protect the dividend/stock-holder.

What you said is similar to saying that you personally don't pay any taxes...it's your employer which pays for them all. Your paycheck is just smaller.
Click to expand...

You mean like GE and Jeff Imelt, Obama's butt buddy?
 
With ties to the administration, are you surprised? In all fairness, GE is about as close as a compnay can get to being a government entity without being GM.
 
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