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Wednesday, 23 June 2010

Not bad, George.

I'd probably give yesterday's budget an A-. If I didn't get what I wanted on fake charities, the Shibboleth of the BBC or saving pubs, well, these are all mini-campaigns which will continue to be pursued with asperity on this blog.

The BBC in particular is looking very exposed; if it's part of the public sector, then its executives should not earn more than the Prime Minister, its pensions should be self-funded and it should reduce its expenditure by 25% over the next 4 years. The last really would be something; an announcement that the TV licence would fall in cost by £8.50 a year over the next 4 years would be a spectacular win. If, as BBC executives argue, it's not part of the public sector but a thriving commercial organisation, fine too. Abolish the licence fee altogether and let them charge.

And as for the VAT rise, few will notice it. Really. How loud did you howl when it went back up to 17.5% from 15% after Christmas? The Swindleries (sorry, Chandleries for non-boaties) will have to trim their margins a little. We will buy two fewer bottles of wine a month. That sort of thing. And if you're the sort silly enough to buy a brand new car from the showroom, no doubt you'll bring your purchase forward.

All in all, not bad.

1 comment:

Blue Eyes said...

Tend to agree. I can get less upset about VAT than some handwringers. I was actually expecting a rise in the basic rate of income tax in return for the larger personal allowance so I feel like I got off quite likely.