Are You Getting A Cash Bonus From the Taxman This Christmas?
Prime Minister Gordon Brown has announced plans to distribute a multi-billion pound 'Christmas bonus' to taxpayers in an attempt to stimulate the economy. But before you start screaming 'show me the money!' at the top of your lungs, the cash handout plan will be targeted only at low-income groups, facing resistance from The Treasury.
The Prime Minister is however pushing for it hard, and said 'a general view was emerging' that the Government should invest up to 2% of economic output into measures that will help boost the economy.
The combination of tax cuts and spending to be introduced in stages over the next 18 months will amount to something like £30 billion. Some Tories believe the handouts could mean higher taxes for the middle class down the road. Could this lead to the demise of the sterling? You can only imagine how many people are pissed off about this decision, with the potential of stacking up tax rises and debt for future generations. Clap clap.