Tuesday, 25 November 2008

Darling's big gamble! What does it mean for you?


First of all, sorry I haven't been blogging for a while but I'll try and get into the habit again. As you all know, yesterday Alistair Darling unveiled his pre-budget report, something which usually doesn't make huge news but this time was different! This time, Darling made possibly the biggest gamble of his entire career! If it works (which is unlikely), it could possibly mean a fourth term for Labour at Westminster (God forbid!). If it fails, which looks as if it could be likely, it could result in a Tory government (again, God Forbid!). Either way, it's going to end up with every tax payer in the country having to pay 7 years of higher taxes! Why? Because the governments idea of getting us out of this crisis is to borrow billions of pounds! All of which, of course, has to be paid back! And it's us the taxpayer that's going to have to give the London government all this extra cash! So, basically, while it will mean a tax cut at the moment and a cut in VAT (all of which is to be welcomed), at the end of the day it's going to mean us paying seven years of higher taxes just for the government taking a penny of a Mars Bar! It's going to be the younger generation which is going to be hit hardest, as are many of small businesses which will result in thousands of people losing their jobs! It's also going to mean a cut in the next Scottish budget! Once again, it just goes to prove that Scotland is being short-changed by Westminster! All in all, I think this is just too big a gamble for the Chancellor, but, we shall just wait and see exactly what happens.

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