Wednesday, 20 March 2013

The Budgie

It's budget day, and now the dust is beginning to settle let me tell you what I thought about it. George Osborne has done an alright job but don't let it cover up the underlying message is that Britain is not in great shape.

First the Good Stuff. The TPA must be pleased as they can now change their hashtag to #mashedbeertax with the alcohol escalator now axed. Sin taxes never bring in any money so just let people drink what they want. Good news for York University as their Hagueathon (an attempt to drink 14 pints like William Hague) is now 55p cheaper*. Also petrol is not going to be put up. Horray!! It is 15p cheaper to fill up under this government than it would be if Labour were still power. There is a continued Capital Gains Tax holiday. There are quite a few things to like.

Also there is this:

But now the overall picture of the British economy. Well borrowing is going to go UP again this year, oh dear. By 2017/2018 this country's debt will stand at 85% of GDP!!!!!!! Also growth is predicted to be just 0.6% this year, not very good either. Makes you wonder whether Mervyn King is right when he says 'there is underlying growth in the economy'. There are also no net cuts again. This is the worst bit as we are cutting £2.5 billion from department budgets to spend on programmes that are not needed. This is so stupid it's unbelievable, all wasted on projects like HS2 that make no money. What a loss.

So overall. We have No Net Cuts. No huge tax cuts. But we do have some good things on the side which may make a difference. Mind you the average family is still £700 better off than under Labour.

Also wait till next week. By then Labour may have picked out a sex tax or something.

*I would like to point out this is NUCA's idea first with the campus 14.

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