The latest budget announced by the Government is yet another display of Labour’s voodoo economics, recklessness and gross mismanagement of the economy in previous years, the British National Party said in its official reaction.
In this budget, the Labour government visited a vicious round of tax rises upon the electorate, said an official BNP statement.
As usual, the division between the governed and those governing grew: public sector wages are to be capped at one percent but MPs are not covered by this measure.
Instead, MPs are about to benefit from generous new expenses allowances. This will generate a fresh wave of justifiable contempt for Members of Parliament.
In 2009/10, the Government will borrow £167 billion to finance its budget deficit — amounting to 11.8 percent of Gross Domestic Product (GDP).
By 2014, the nation’s debt will rise to 75 percent of GDP, up from less than 40 percent in the recent decade.
As a result, this massive debt will be repaid by the following generation, with interest.
A range of tax bearing measures was also announced. Personal allowances were frozen, with the result that everyone will pay an increasing proportion of their income in taxation.
A tax on jobs was announced in the form of higher National Insurance — at a time when jobs are scarce.
An additional 3p on the price of fuel was also declared. This will hit the poorest section of the community hardest, at a time when the pound’s low exchange rate has already increased the cost of fuel.
The only element to face a degree of relief was the banking sector as it was announced that the one-off levy on bankers’ bonuses will not be renewed.
Given the remarkable financial speculation and irresponsibility of recent years amongst the banking elite — which is a major cause of the current recession — this was an astonishing announcement.
In effect, the electorate is being asked to pay a higher percentage of its earnings in taxes because of the incompetence of the banking class, itself cushioned by the accumulation of previous years’ bonuses.
The electorate has been fleeced to pay for Labour’s core ideology, underpinned by social-Marxist political correctness. Tax and debt have been inflicted upon the governed to pay for Labour’s project.
Significantly, everyone must pay for their Orwellian-type projects — except the globalist corporations which remain unfettered and are able to continue their activities untrammelled by taxation, through the process known as ‘transfer pricing’.
This enables these corporations to move their operations to those jurisdictions where taxation is lowest, whilst benefitting from their overseas activities in the UK market.
A responsible British government — a BNP government — would have taken a scythe to the public debt by cutting the following expenditure forthwith:
1. Foreign aid budget: £9 billion.
2. The cost of multiculturalism/immigration/political correctness: £13 billion.
3. EU membership fees: £15 billion.
4. ‘Climate Change’, paid by the consumer: £18 billion.
News from The British National Party website: http://bnp.org.uk/2010/03/budget-2010-voodoo-economics-and-a-reckless-and-gross-mismanagement-of-the-economy/
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