Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Gordon Brown's Budget 2007 - Likely to be his Last and Green

Economics / UK Tax & Budget Mar 20, 2007 - 10:13 PM GMT

By: Shahla_Walayat

Economics

Gordon Brown will later today deliver his 11th and last budget, given that Tony Blair is expected to make way for Gordon Browns premiership within the next 3 months.

The budget is likely to adopt many green initiatives following the conversion of the conservative party from blue torch to green tree. The chancellor is expected to appeal to home owners by giving incentives to install energy efficient products and possibly even home power generators such as solar panels and wind generators. The chancellor is expected to hit gas guzzling vehicles by raising the annual duty on 4X4's to as high as £400.


With the next election some 2 years and the relative weak state of public finances, there are unlikely to be any significant giveaways in the budget. The expectation is for the chancellor to continue to raise 'stealth' taxes as the burden of taxation on the UK tax payers continues to rise to one of the highest levels in Europe.

The public sector is expected to receive further generous handouts to tackle problems in the NHS and to invest in the education system. Labour has year on year increased public spending by far more the inflation which has lead to the growth in the public sector in 10 years from a competitive 35% of GDP to one of the highest levels in europe approaching 46% of GDP.

Personal Allowances are expected to be raised in line with inflation, with little other change, other than to cut tax avoidance loopholes and the expected rises in duties on alcohol and tobacco.

For savers the key change will be the loss of distinction between Mini and Maxi ISA's. Also changes will allow cash to be moved from cash to shares ISa's, though not back to cash ISA's. However the limit on ISA's at £7000 has not changed since they were first introduced 10 years ago, with possible rumours that on their tenth anniversary the limits will be raised.

Even though earlier in the week, Andrew Turnbull, former senior civil servant at the Treasury from 1998 to 2002, referred to Gordon Brown as having "Stalinist ruthlessness". He will leave the office of Chancellor as one of the most successful chancellors in British history have resided over continuous quarter on quarter economic growth for 10 years.

 

By Shahla Walayat
http://www.moneyforums.co.uk

The UK Money Saving & Investing Forums is a free online publication providing, FREE Online Tools including Credit Score Calculator and the Savings Calculator . Money Saving Guides such as Credit Card Stoozing , Savings Tree , Money Saving Guide . Personal Finance Discussion Forums open to ALL, supported by experienced moderators, to discuss any personal finance topics from 0% Credit card deals , to the state of the Housing market . The best Savings & Deposit Accounts etc. This article maybe reproduced if reprinted in its entirety with links to http://www.moneyforums.co.uk


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in