Budget 2010:England VS Algeria replay

This Budget reminds me of  last Friday’s England vs Algeria football match:

A lot of hype and expectation, and then the kick off – to a dismal display of mediocrity.

The missed chances of a boost to the economy by raising personal tax allowances to £10,000 immediately, instead of by only £1,000 – next year.   A quick goal to increase the coffers by increasing VAT to 20%, but deferred until the next game (in 6 months time)

Roars of boredom echoed around the pitch as the crowd tried to fix their anger on some of the b… passing – the pensions attack going into reserve again.

Score: zero / zero.

I will leave it to other financial pundits to comment on any real points scored (Is Capital Gains Tax really such a big issue, it certainly gets disproportionate coverage for only 2% of the overall tax take), when they check the actual finance act delivered in the replay following the live performance this afternoon.

Our own website will shortly contain a more detailed technical review of all the budget measures announced today, including those matters hidden in the formal published Budget Notes, Press Notices and other supplementary documents issued after the presentation.

Kevin Beare FCA

www.kevinbeare.com

This entry was posted on Tuesday, June 22nd, 2010 at 3:20 pm by Paul Beare and is filed under A Personal View, Australia, Canada, France, New Zealand, UK accounting, USA. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.