Tories “in dissaray over sooner or later tax promise”. Not a great day for the Conservatives, though it is a day that has been coming for months.
The line that Mr Clarke used on Friday was more interesting than his comments on inheritance tax though. He said on Sky News:
“The government must continue to borrow and the taxpayers’ credit is actually to refinance the banks to tackle toxic assets on their balance sheets. That is all absolutely necessary. You need a general loan guarantee scheme, a simple one, a workable one for businesses of all sizes because the government will take a large part of the risk.”
That isn’t the kind of rhetoric we have been hearing from Mr Osborne.
3 comments ↓
And your economic policy is this.
We will lay waste to the UK economy by spending money we don’t have so that as MPs we can stay in office for as long as possible to get all those expenses claims put through before being kicked out of office.
Then when someone else has to clear up the mess, we can say its the nasty Tories.
If they are sensible, they introduce a Brown tax, hypothecated to paying off the debt run up by Labour. Then everyone gets to see clearly how much of their tax is going to paying the legacy of Brown and Blair.
Notice when you post, its that the government must do something. Pure spin. Why don’t you just say the truth, that you want to force the taxpayers to take on all the risk?
Nick
I really have to wonder what proportion of the electorate really care about the erstwhile inheritance tax plans. My guess is that announcing this now was a calculated risk.
On balance, though, Labour isn’t in a fantastic position to criticise the Tories’ lack of financial acumen—I suspect this is somewhat academic, mind; I’m not sure many people really trust either party to not throw tax (and related) revenues into a black hole.
It’s all over, Tom. 1997 is a long time ago. Face it.
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