Gordon Brown must be held responsible for this tax credit fiasco

I wrote about this year’s tax credit claw back back in April, when Edward Leigh first highlighted it. I have just re-read my post, the thing that really get me is that no one in the media seems to be pointing the finger where most harm has been done.

Gordon Brown.

This was his plan, his “big idea” and it isn’t working. Blaming Dawn Primorolo is pure folly; she is trying to implement a fundamentally flawed mechanism. She claims that overpayments will fall in the future, of course they will, people are being put off of claiming in the first place.

This system is all wrong, it hits the lowest paid the hardest, it provides a disincentive to accepting overtime or a promotion. I know lots of people who think that Gordon Brown is a good Chancellor. I disagree.

He made the Bank of England responsible for interest rates, good move. He has, since then, performed a string of policy cock-ups.

Selling of our gold at the bottom of the market. Pensions tax raid. Taxing small businesses out of existence. Introducing a tax credit claw back. I am sure that there are plenty of others; please feel free to let me know of any more that you can think of.

8 responses to “Gordon Brown must be held responsible for this tax credit fiasco

  1. You give credit to Gordon Brown for creating an independent central bank, with the power to set interest rates, instead of the power remaining with the Chancellor. However, I thought the creation of an independent central bank was opposed by the Conservative party in 1997? I certainly can’t remember any support for the policy betweeen 1979 and 1997 and obviously there was no attempt to introduce the policy during 18 years of Conservative Government.

  2. You give credit to Gordon Brown for creating an independent central bank, with the power to set interest rates, instead of the power remaining with the Chancellor. However, I thought the creation of an independent central bank was opposed by the Conservative party in 1997? I certainly can’t remember any support for the policy betweeen 1979 and 1997 and obviously there was no attempt to introduce the policy during 18 years of Conservative Government.

  3. I don’t think he has a point!!It looks like Brown’s defenders are clinging to the independence of the BoE as a key point of strength…Obviously as it prevents him from handling that shambolically too.

  4. I don’t think he has a point!!It looks like Brown’s defenders are clinging to the independence of the BoE as a key point of strength…Obviously as it prevents him from handling that shambolically too.

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