The budget has basically been splashed out in many of the papers today (before its even been presented), so one must wonder what the point is of the Chancellor of the Exchequer actually making his speech in front of Parliament today.
Putting that aside, we all have our wish list as to what we would do if in charge. I think I would like to see :
1. The abolition of the national insurance tax (given that there is no real national insurance fund and the whole thing is a giant fraud) and a simple tax on income at, say, 30% . Note -the income tax alone you pay is either 20%, 40% or 50%, add at least an extra 10-12% for national insurance onto each bracket and you see how much tax you pay. (this will help both working families and business- who will be free of having to pay national insurance contributions).
2. Threshold of income tax to be £15,000 (thus helping the people on lower wages).
3. Abolish tax on pensions (thus helping the poor pensioner).
4.Reduction in corporation taxes (thus stimulating business) .
5. A cut or at least freeze in the fuel duty (thus helping everyone).
You may ask me where are we going to get the money from to "pay" for these cuts? The simple answer is that they will pay for themselves, as it has been demonstrated before that the less the state taxes you, the more revenue the state actually picks up. In any case we need to get business to start employing people again and the best way of doing this is to reduce the costs - i.e. their national insurance contributions and the reduction in corporate taxes.
Quite simple really.
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