The pensions smoking gun is revealed
After ten years, and a two year battle with The Times, the smoking gun in Gordon Brown's pensions theft has finally been revealed.
It has been common knowledge for quite some time that the scrapping of the Dividend Tax credit has all but destroyed workplace pension schemes. Which, and let's be honest about this, is only going to effect working class people who rely on these schemes when they retire. So much for being the party of the workers.
However, it's the extent of Gordon's knowledge about the effect that his tax grab would have, that has been a bone of contention over the last decade. Personally I have always believed that Gordon won't even take a shit without thinking about how the treasury will make out of it, but others have believed that he could not have predicted the pensions blackhole. But, as revealed in today's Times, the Chancellor defied repeated warnings from his own officials about the potentially devastating impact that his £5 billion-a-year raid on pension funds would have, therefore and went ahead with it. The result of that decision, turned Britain's pensions system from being one of the best in the world to one of the worst. Which begs the question "What kind of Chancellor ignores that kind of advice"? Simple, a crap one.
Should we be surprised though. No, unfortunately it comes as no surprise whatsoever. After all this is the "Labour" Chancellor, that has consistantly hit the working classes, with stealth tax after stealth tax, and even blatantly raised taxes on the porrest in society in his last budget with the scrapping of the 10% tax band.
Although I have to laugh at the current bullet dodging by the treasury, who have so far blamed, David Cameron, the dot.com crash, the pension holidays in the 1980s and 1990s, and the rise in life expectancy as the causes of the pensions blackhole. I think they need to look a little closer to home to find the real cause.
Gordon Brown's true reputation is now clear for everyone to see, as the spin and deception unravels in front of him.
1 comments:
'What kind of Chancellor ignore that kind of advice?'
A cynical one, who expects to lose the 2010 election and wants to leave as big a mess for the Tories as he can, withou this looking aimmediately apparent.
I still have somewhere, a 'New Labour, New Danger' badge, but the glowing eyes don't work anymore.
Sadly, in our democracy, government has become based on five year cycles, not long term planning. This leads to the sort of thinking that has led to this pension black hole
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