Yesterday Chancellor Alistair Darling revealed 'The Budget 2010' which has had journalists, politicians and economists in a spin since. Is it a budget that will help our country's economy to recover or is it a tactical budget to gain latent voters in a bid to stop the conservatives coming into power in the up and coming general election?
It seems that labour have targeted young people specifically with their financial plans. Young people under the age of 24 will be guaranteed work or training if they have been unemployed for six months until 2012. In addition, young parents will receive more in tax credit. There will also be funding for 20,000 extra university places, although only in science and maths.
However this may not be enough to entice young alcohol drinkers and smokers. The new budget includes a rise on wine, beer and spirit duties by 2%, tobacco duties by 1% and cider duties by a huge 10% above inflation starting on Sunday at midnight.
In reaction to the budget announcement, David Cameron accused Labour of making a complete mess of the economy. He said: “They have doubled the national debt, and on these figures they are going to double the national debt again”:
What are your thoughts on the budget 2010? Are you even more confused about who to vote for than you were previously? Will this budget announcement affect the way you vote? Do you think the cuts are enough for the recovery of our economy? Do you even care?
A pretty dull and uninspiring budget (is there such a thing as an exciting budget) and an obviously tactical one, given the severity of Labours image under Brown.
ReplyDeleteThe 10% rise above inflation was the obvious eye-opener as a proud West-Country cider lad, but this day was always going to come - and I doubt the Torys would have done anything different.
The Cider industry has been heavily under tax for the last 7 years or so - originally done to give a boost to the flailing industry and orchards, primarily in the West Country. Whilst this obviously boosted independent cider producers, the majority of Orchards were brought up by the Irish companies... hence the huge rise in popularity of Magners, Bulmers (same co.) and Gaymers.
Of course to bring the tax of cider back in line with all other alcoholic drinks was going to upset the minority independent cider growers, but the market is dominated by huge Irish companies who have been making the most of the lower tax rates for too long. A victim of their own success.
Cameron
Let's look at this the other way round. What would a budget for (or by) young people look like?
ReplyDeleteNo taxes on the fun things, to be offset by massive charges on the 'good for you' things like wholemeal bread?
Progressive taxation on people as they grow older, starting with zero tax for under 25s and rising to 100% tax on the over 60s?
And what about funding higher education? When students call for reduced fees, I never hear a considered answer to the question 'who pays for this?'.
Call me naive, but I view young people as adults who haven't lived very long, rather than a distinct group in opposition to the rest.
Interesting, if negative take on "youth perspectives" from Richard. I might add a more cautionary approach, based on years of "talking Treasury-speak" when a lobbyist, and of "budget watching" for twenty years or more. Part of the reason why younger people switch off is that the language is opaque, and they don't see how all this affects them. Tax rises on "fun things" are an exception, as are cuts to services that they care about (eg university places, grants and loans). That's not the fault of the young people; rather of the society that has educated them! I contrast the USA (the land of my childhood and youth) with the UK. We had classes in politics, civics and society from the age of 12, and universities were politicised. Party politics mattered, and volunteering for local, state and national elections was common. Political debate around the dinner table was heated; arguments around the common room intense. Here? Not a whiff of it! So, if the politicians don't speak to them directly in language that matters, to be ignored by a younger generation that is not remotely motivated to care, who is to blame? We all are...
ReplyDeleteI have to admit I think that one of the main reasons for my interest in politics is the fact that my parents taught it to me. I was involved in many political discussions around the dinner table as I was growing up, and my Dad would literally make me sit and read articles that he thought I should be aware of. Unfortunately my experience is rare in the UK today.
ReplyDelete