Sunday, 26 April 2009

The Budget Fallout- The Aftermath

Not particularly shocking but the speed of thought certainly has accelerated since Darling's announcements and now the UK is beginning to see it's key personnel in the Business Industry packing their leather bound, diamond encrusted suitcases to jump on board their private jets. For instance Peter Hargreaves, the £10m-a-year co-founder of Hargreaves Lansdownas to save after a measly £500,000 increase in his tax bill.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6169324.ece

Surely they can see that moving would cost a fair sum, expenses of their transportion from faraway lands of Switzerland to London every day/week wouldn't payable by the taxpayer (unlike the MPs) and if they like living in London so much and consider themselves English then here is a concept that they wouldn't of heard of and cannot be taught- class and loyalty. Standing your ground no matter the cost just so that your clientele are happy.

The recession compounded high taxation will cause more to leave, less buyers of consumer goods and over reliance on exportation but the fact is; the market will soon be stabilised and not dreadfully soon like Darling optimistically predicted. More like mid 2011 (I hope anyway, it'll be graduation time however it would be nice not to pay stamp duty on first home) also it would be nicer to see the likes of Sir Alan and the Chelsea owner having to shop in ASDA following further dent in their bank balance which as the Times Rich 100 shows has taken a beating anyway.

So hopefully if all the City bankers, tycoons stay and accountants are shot for any less then pleasurable ways to avoid income tax whilst the Government's toxic debt cash is injected leading to high street banks lending then confidence of customers is visible by their increase in buying the usual palaver of Plasma's and Topshop clothing.

Then the life as we know it may at least return to normality on the road to recovery. Or will the lessons learnt by the market crash be forgotten as quickly as shares fell?

2 comments:

Apple Pie and Anarchy said...

We're dealing with the same here in America. What a mess we've gotten ourselves into. Will we ever learn to stick to a budget?

Demented Demon. said...

Sadly it seems no-one will learn as their focus is strictly on self gain.