Monday, 24 September 2012
The Libdems Are About To Join Forces With The Scottish Tories
Nick Clegg has signed the death warrant of the Liberal Democrats.
'Riches are evil' stated the Deputy Leader of the Westminster Government at his party's conference this weekend. He may not have used these exact words, but his latest proposals include taxing those who earn over £50,000 even more.
What is the definition of financially 'rich'? I know several people who earn over £50,000 and I don't regard them as rich. Most work in the south east of England; not because they want to - but because that's where the businesses which require their skills are based. Their homes aren't large, although they were expensive compared with similar sized homes here and - with the exception of one - they are one car families. Only one comes from what would be classed as a privileged background and all have worked hard to get where they are today.
In Britain these days it doesn't pay to try to improve your lot and I sympathise with the 40-somethings who continue trying - only to find themselves in the middle-income group which Libdem politicians seem hell bent on bleeding dry.
Nick Clegg also proposed a 'pension for property' scheme. Silly idea. He should be insisting banks lend to young people.
The Libdems think the most significant levy on wealth is inheritance tax and wants the current policy changed because too many avoid paying tax by using trusts, gifts or various other reliefs. Their latest policy suggests an 'accessions tax', where liability would fall on the person receiving the legacy rather than the estate of the deceased. This would make the tax impossible to avoid.
I find this proposal distasteful and perhaps unworkable.
What Mr Clegg's latest plans will do is drive more of our skilled professionals out of the UK and into countries such as Canada and Australia. Rather than proposing more taxation why doesn't he suggest cutting spending? Tax increases do not create jobs.
Nick Clegg sounds desperate in his attempts to keep his position as leader of his party and I refuse to believe many senior Libdems support his proposals. They may think by keeping silent they have allowed him enough rope to hang himself, but in doing so will, very possibly, also bring about the demise of their party. The Libems could be languishing in the long grass for many years. They won't find themselves alone though - the Scottish Tories have been there for years and are no nearer to finding a road out than they were 20 years ago.
Posted by subrosa at 09:07