50% and all that again

Although now it's 60% which is the effect of the £1 for £2 reduction in personal allowance for those over £100000 per annum. Pensioners who are lucky enough to get about one fifth of this income have suffered the same 60% as their extra personal allowance is clawed back. This has being going on for years but the media hasn't said much about it.

50% and all that

Following the media frenzy about soaking the rich & punitive taxation that has been flooding the media since the budget one might be forgiven a certain cynicism. Although only some 1% of the population make more than £150000 per annum that 1% includes just about anyone who is anyone in the media circus.

Goodwin again

I'm not going to join the clamour for Sir Fred to be stripped of his knighthood. When we allow convicted felons to retain peerages; award instant peerages for political expediency etc., why single out one individual? If you scrutinise the Honours Lists you find that those truly deserving of some recognition - those who have devoted their lives to the (low or unpaid) service of others, or who have done some act of bravery or suchlike - wind up with the lowest award. Meanwhile Peerages & Knighthoods & such go to those who have already had richly rewarding lives - financial & otherwise. The whole system should be massively reformed.

Oops

Not being a product of modern education I ought to do a better job of checking my typing for errors.

Tories don't cange

Like leopards Tories don't change their spots. Cameron is whipping up a campaign against some of the rewards paid to top 'executives' in the public sector. Whilst one might be tempted to agree with him we should remember that, at least since Queen Margaret of Finchley (aka Thatcher) came to the throne, the Tories have been implacable in their hatred of the public sector. The attack is also a useful diversion away from the focus on financial services rewards.

Ghurkas simply have earned the right to be here

This Government, and especially the increasingly awful Jaqui Smith, just cannot get anything right. The issue is not how to control the number of Ghurkas coming to live here. The vast majority don't want to, and given what New Labour (or more accurately fake Tory) has done to this country over the last 12yrs what 'foreigner' would want to come & live here unless they were a filthy rich tax avoider. The issue is one of principle, a word whose meaning is clearly beyond Ms Smith's comprehension. Ghurkas, all of them, have simply earned the right to come & live here if they wish.

Financiers in Fantasy Land

Those who live in the 'Financial World' still don't seem to have acquired any understanding of how the rest of us live. Pension contributions of up to £245000 p.a. qualify for the full 40% income tax relief - which itself is outrageous. In todays FT a 'Wealth Policy Director' states that: " --- public indignation over [bankers pensions] could lead to an attack on higher rate tax relief enjoyed by ordinary people". There aren't THAT many ORDINARY people who pay 40% tax and of those that do, even fewer could even dream of diverting anything like £245000 p.a. into a pension pot. This is another perk for the filthy rich so admired by that staunch Labour figure Peter Mandelson.