{"id":330,"date":"2007-03-24T10:56:08","date_gmt":"2007-03-24T10:56:08","guid":{"rendered":"http:\/\/applecrumble.wordpress.com\/2007\/03\/24\/unfair-budget\/"},"modified":"2017-10-01T20:42:47","modified_gmt":"2017-10-01T20:42:47","slug":"unfair-budget","status":"publish","type":"post","link":"https:\/\/andrewdoran.uk\/blog\/2007\/03\/24\/unfair-budget\/","title":{"rendered":"Unfair budget"},"content":{"rendered":"
The BBC have a great story<\/a> about this week’s budget where they show a graph of how much extra money you will have in your pocket based on what salary you earn. I can’t reproduce the graph here for copyright reasons so you’ll have to take a look at their page to see it.<\/p>\n

There has been lots of discussion about how the tax system has been made simpler by the abolition of the 10% starting rate of income tax, which is fine, but when this is coupled with the other changes to taxation and National Insurance the net effect is that you are better off as long as you don’t earn under \u00a317,000 a year<\/em>.<\/p>\n

The graph is pretty straightforward to create so I am sure that the Chancellor would have known what the net impact would have been on people of different incomes. If this is the case, I just don’t understand why he has done this – why would we tax low income people relatively more to pay for things that we theoretically all benefit from whereas we actually give more money to the richer in society? How is this fair? It’s even worse than the graph shows if you think how much the \u00a3131 loss is to someone \u00a310,000 compared to the \u00a3198 gain to someone earning \u00a343,000 – a 1.31% fall in income versus a 0.46% gain. I simply do not think this can be right – we shouldn’t be getting the poorest in society to pay more for benefits of government spending that we all share.<\/p>\n

To top it all off, the chancellor dropped corporation tax for large companies from 30% to 28% and raised it<\/em> for small businesses<\/a>. It seems to me that, as I previously mentioned<\/a> here, Noreena Hertz was right in her book The Silent Takeover<\/a><\/em> that the role of the politician has been reduced to making the country a place to attract multinational corporations. Labour seem to be more and more in favour of following trickle-down economics <\/a> – something that I just don’t buy in to.<\/div>\n

The BBC have a great story about this week’s budget where they show a graph of how much extra money you will have in your pocket based on what salary you earn. I can’t reproduce the graph here for copyright reasons so you’ll have to take a look at their page to see it. There […]<\/div>\n<\/a>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":true,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"webmentions_disabled_pings":false,"webmentions_disabled":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"activitypub_content_warning":"","activitypub_content_visibility":"","activitypub_max_image_attachments":3,"activitypub_interaction_policy_quote":"anyone","activitypub_status":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[13],"tags":[],"class_list":{"0":"post-330","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-news","7":"h-entry","9":"hentry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":10032,"url":"https:\/\/andrewdoran.uk\/blog\/2023\/04\/18\/us-music-revenues\/","url_meta":{"origin":330,"position":0},"title":"U.S. music revenues","author":"Andrew Doran","date":"18 April 2023","format":false,"excerpt":"A recent Stratechery post pointed me in the direction of these wonderful graphs of music revenues and sales. They fascinate me. Some random thoughts: Ringtone revenues were massive, for a very short period. 2005 is when they register on the graphs, but by 2008 they are already in decline. I\u2026","rel":"","context":"In "Business"","block_context":{"text":"Business","link":"https:\/\/andrewdoran.uk\/blog\/category\/business\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/andrewdoran.uk\/blog\/wp-content\/uploads\/2023\/04\/DraggedImage-1-1.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/andrewdoran.uk\/blog\/wp-content\/uploads\/2023\/04\/DraggedImage-1-1.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/andrewdoran.uk\/blog\/wp-content\/uploads\/2023\/04\/DraggedImage-1-1.jpeg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/andrewdoran.uk\/blog\/wp-content\/uploads\/2023\/04\/DraggedImage-1-1.jpeg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/andrewdoran.uk\/blog\/wp-content\/uploads\/2023\/04\/DraggedImage-1-1.jpeg?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/andrewdoran.uk\/blog\/wp-content\/uploads\/2023\/04\/DraggedImage-1-1.jpeg?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":4813,"url":"https:\/\/andrewdoran.uk\/blog\/2018\/10\/10\/energy-use-externalities-and-climate-change\/","url_meta":{"origin":330,"position":1},"title":"Energy use, externalities and climate change","author":"Andrew Doran","date":"10 October 2018","format":false,"excerpt":"I\u2019ve been thinking about the WB40 podcast discussion on energy use and the difficulty of changing behaviour, as well as the recent news about avoiding climate change. I am sure there is something in the fact that energy is so cheap relative to income that isn\u2019t helping right now. I\u2026","rel":"","context":"In "Environment"","block_context":{"text":"Environment","link":"https:\/\/andrewdoran.uk\/blog\/category\/environment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":759,"url":"https:\/\/andrewdoran.uk\/blog\/2015\/01\/30\/no-time-to-go-out\/","url_meta":{"origin":330,"position":2},"title":"No time to go out","author":"Andrew Doran","date":"30 January 2015","format":false,"excerpt":"We are coming to the end of a number of projects at work and as a part of this I need to be working for most of the weekend, leaving little time to get out on the bike and train. 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