The Tory leadership could be talking like Boris soon
Peter Hoskin 10:48am
So Boris is attacking the 50p tax rate again - and rightly so. In his Telegraph column today, the Mayor of London repeats the lines he pushed in April: that the measure will drive business talent away from our shores, that it will damage London's competitiveness, and that it could actually lose money for the Exchequer. It all comes to a punchy conclusion: "What Gordon Brown wants to do is therefore economically illiterate."
I imagine a few commentators will see that last line as a veiled attack on the Tory leadership, given that they're committed to the tax rate too. But, as Tim Montgomerie says over at ConservativeHome, and going off conversations with Tory types, I doubt that Cameron and Osborne would disagree with the thrust of Boris's article. There are even some murmurings from inside CCHQ that the 50p rate might damage the cause of compassionate conservatism – as it could entail higher taxes for the less well-off, to make up for any reduction in the tax take.
Sure, it's dispiriting that Cameron & Co. aren't making this case now – particularly as the City is looking towards them for a routemap through the post-recession landscape. But there’s a fair likelihood that they'll start sounding more like Boris after the election.
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James
November 16th, 2009 11:07am Report this commentThe only problem with the premise that they, the Tory front bench, will be talking like Boris after the election, is that by then it may be too late. The public need to hear now what the Tories intend to do, if the 50p tax rate is as economically illiterate as most sensible people think then why not have the courage to say so now? Boris, for all his loveable qualities, is seen as a maverick, so it stands to reason that if he speaks up against something, it will only reinforce the Tories current stated position in the minds of the public. Osborne should announce the future scraping of this tax with all possible haste.
General Zod
November 16th, 2009 11:26am Report this commentNo point giveing free ammunition to Labour. It doesn't matter that the argument is good. The time to make it is after the election.
Unless, that it, Brown decides to play double or quits and raises the rate to 55%, 60% or even higher in the PBS. If he does that, then the Tories should regard it as time to take off the gloves.
AAE
November 16th, 2009 12:23pm Report this commentCameron is still kowtowing to the criteria of the left. Perhaps the next time Brown drones on about "investment", Cameron should accuse him of cuts - the savage cuts that government spending makes in the income of "hard-working families" and their freedom. I'm fed up both trying to second-guess the Tories, and with the commentariat who are doing no more than reading tealeaves in wondering what Cameron might have in store for us once elected. Their continuing to pussy-foot around the horrific realities that inflict us is really a pain now. Depending on the wishful thinking of the electorate is dishonest, and doing nothing for Tory polls.
Peter
November 16th, 2009 12:39pm Report this commentGood old Boris! He could not have sent Dave a clearer message if he had put it up in neon lights in Piccadilly Circus. Scrap the 50p rate and announce it NOW!.
Robert Moore
November 16th, 2009 12:51pm Report this commentThis is what HMRC's permanent secretary has to say about the 50p rate....
http://business.timesonline.co.uk/tol/business/economics/article6915803.ece?token=null&offset=0&page=1
Tiberius
November 16th, 2009 12:54pm Report this commentWelcome back, Pete.
London Calling
November 16th, 2009 1:32pm Report this commentA Boris Borg Tory Party…now there’s a thought, wiff waffing over the 50p tax rate amongst all the other ping pong of important issues :0
Boris is correct in saying that the measure will drive business talent away from our shores, there needs to be a balanceand David Cameron needs to address that balance. Britain cannot afford to lose talent, that is for certain, it has nothing to do with being a maverick, its called common sense…
Beer Moth
November 16th, 2009 6:43pm Report this commentThe assumption seems to be that the UK is always short of 'business talent'. Possibly. But it's by no means the automatic given which is frequently portrayed in these pages. I wonder if we might actually have a surplus of such people?
Taken to its extreme, we could end up with an ever increasing proportion of the working population, striving to be and to have 'business talent. But how could that work? Businesses are structured so that there are those few people who lead, there are others who assist in that leadership and then there must be many more who are available and are willing to occupy the positions of 'those who are led'.
Somewhere along the line, one economy in the world at some time, will find it has cultivated just too many managers/leaders: will find itself top-heavy, so to speak, and needs to regulate the mix.
Could that be us, right now?
Dirty Euro
November 16th, 2009 9:47pm Report this commentIf it drives business talent away. Why has the USA been overtaken by France in GDP per capita. The USA insanely low taxes for the rich yet has been overtaken by us.
There are plenty more clever people to do the work.
Beer Moth
November 16th, 2009 10:37pm Report this commentI find myself in some vague alliance with Dirty Euro.
Sheesh kebab!
Dirty Euro
November 17th, 2009 10:44am Report this commentHerte is an exaplnme
Country 1 spends all it is money on luxury yachts, luxury cars, and posh wine. Buy the rich spending all the money.
Country 2 spends it's money on education, infrastructure, the army, fighting crime, developing technology.
Who wins the war?
michael
November 17th, 2009 12:48pm Report this comment4% from the employer 3% from your wage.
2012 compulsory pension tax.
The city's grabbing 7% worth of income tax.
Bet the favourite topic of bonus negotiation
is pension fund purchase of govt bonds and iffy bank shares...
You are what you own...ish.
50p is merely a front of house statement. No wonder Boris is keen to use it as tax smoke screen.
michael
November 17th, 2009 3:16pm Report this commentIn 2012 the banco/politico axis are going to need somewhere big to hide, to evade a pension tax backlash.
A once in a lifetime sporting event might do the trick...
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