Uncle Audley was relieved by the Budget. His hot tip had been that the Government would scrap the Royal Navy to save costs, not that they have left much of it over the last decade. “Well, at least the Royal Navy is saved but it will be the defence budget which will bear the brunt of the public sector savings and more British servicemen will be risking their lives with inadequate technology and equipment”.
How do you hope to reinvigorate an economy when you disincentivise the wealth creators. It is all very well trying to do more for the young who are out of work and out of training but there has to be real jobs created for them. I thought the lesson had been learnt that higher tax rates actually stifle enterprise and initiative. Apparently the lesson has not been learnt.
Pension funds invest in UK businesses. It seems to me that the Government’s measures to restrict tax relief will have the impact of reducing investment in British businesses.
I noticed also about restrictions in tax relief for UK holiday lets. They are on the same footing as foreign holiday lets so again it seems to me that this will encourage acquisitions in foreign property markets at the expense of the indigenous UK property market. I maybe wrong and we will have to see how things work out.
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