Thursday, November 27, 2008

Tax bombshell? Tax reality...

Just one day after the pre-Budget report the girlfriend received her pay slip, and has been charged £2,000 more income tax in a month. If this is repeated across the country then the government will raise about £80bn in November alone*! That should ensure no PSBR, although I can't see how it help hard-pressed retailers.

* The alternative theory is that she is being made liable for the country's entire national debt. This seems unfair.

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