Rather than the usual Friday Fiver, this week we have decided to look at the Budget. Shock horror. Rather than add to the millions of words of analysis already published on that topic, we thought we’d make your lives easier and point you to the most memorable elements of this week’s main event.
The IFS’ Budget 2012 briefing yesterday cut through the hyperbole to deliver a sober assessment of the red book. Their analysis of the implications of the 50p tax rate, suggested that contrary to the mooted 300,000 extra taxpayers roped into the lower 40p tax rate threshold, this figure could actually be closer to a million by 2014, adding fuel to the flames that were already raging, particularly among the usually supportive right wing media.
A mention should also go to the Economist’s analysis. Highlighting Britain’s expertise in high-value services and the need to attract the world’s brightest, the Economist applauded Osbourne’s efforts to signal, “about as clearly as a man with no money to spare can, that Britain is open for business”.
Sending the Government bench into raptures and consequently, Lindsay Hoyle, the Deputy Speaker, into apoplexy, Osbourne, when announcing tax breaks for the animation and video game industry in reference to this well know cartoon sketch said: “It is this Government’s determined policy that we keep Wallace and Gromit exactly where they are“. BOOM!
The Sun could’ve won this thrice with some absolute beauties including: “HE’S TAKING US FOR FUELS” and “GRAN THEFT OSBO.” The best one’s are captured in this image courtesy of Conservative Home’s @TimMontgomerie
Best Post Budget Admission
‘We hid the papers.’ The Prime Minister’s aide unveils to the Times, Number 10’s response to the negative headlines on Thursday.
Miliband’s 50p tax gibe at the Government. With one question – ‘Who on the front bench would benefit personally from the 50p tax cut?’ Ed stunned the Cabinet and made his point effortlessly; we are no longer all in this together. Very clever.
The anti-war protesters – who employed a very, very long handle on their ‘stop the killing in Iraq and Afghanistan’ sign, which meant every interview Jon Sopel gave on College Green featured that banner in the background.
Best ‘_______ tax’ name