I don't know when the polls will come in but looking at the newspaper headlines, it appears that the media narrative will change once again from a Labour recovery to Labour disaster.
Yesterday was another bad day, for everyone. Bad for the Government because they had precious little to give away as an election sweetener, and also bad because they didn't tackle the deficit and showed that everyone earning above £20, 000 is seen as a cash cow to plunder. Bad for the taxpayer, spending is going up next year and the day of reckoning has been put on hold again. It will only get worse. It was another opportunity lost.
Thankfully the tax on jobs, i.e. National Insurance rise, may not happen as it is penned to come in 2011 and there will be an election before then. Will the Government risk another awful budget next spring? Maybe not, maybe March 25th is now more likely than not. I hope so. We need rid - now!
I'm intrigued by the strategy, if you can call it that, of keeping on with the mantra that you don't cut the deficit and stimulus until the economy grows. The stimulus of the VAT cut will be taken away in 21 days time. What happens if this quarter's growth shows there is none and another contraction? It blows their whole argument out of the water! There's no wonder they reduced the tax on Bingo, they're hoping their numbers come in pretty quickly.
Squiffy.
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