Headline on the FT today:
Banks hit by £2bn yearly levy in UK
Oh, the poor things! A whole £2bn over a year. That’s terrible.
Meanwhile, the increase in VAT will raise something like £13.5bn over the same period. From a Co
rporatistnservative point of view, raising money from VAT is a good thing for a couple of reasons: it’s mostly paid for my those least able to pay, providing the lazy fuckers with some motivation to get on in the world and earn more; it doesn’t impact investment in business – obviously the important consistency for a government of the people. Which is why in this difficult time, corporation tax has been cut from 28% to 24%. Yes, everyone must make sacrifices for the corporations. That’s how fascism works…
The bottom fifth of the uk population spend twice as much of their disposable income on VAT as the top fifth. Soak the poor! (Preferably in cider, we wouldn’t want to hurt sales…)