The Tories today came up with a really lovely way to help with reducing the deficit. Not pump prime spending to encourage a recovery, thus leading to a growth led increase in government revenue that will rapidly erode the annual deficit and go some way to reducing the effect on long term debt.
No, raising the retirement age by a year, well ahead of current schedules, so that we all have to work an extra year (well, anyone under 59 will).
Basically, the recession was caused by the last generation of idiotic bankers, egged on by capitalist politicians and pundits – all of whom will be able to retire on a nice bunce ta very much. But the Tories want everyone to share the pain.
Oh, yeah, and hows about shunting thousands of people from incapacity benefit at the same time?
What’s more, I did hear the Tory ‘incentive’ plan to encourage jobs. To give new companies a two year tax break on National Insurance for up to ten employees. Sounds like a good idea, but I see a few flaws. Firstly, what about existing companies? Won’t they be up against subsidised opposition? Seems pretty unfair to me. Secondly, what’s to stop this idea for a tax wheeze: If you already have a small business, close it down and restart it. Bob’s your uncle, a tax break. You don’t need to have ‘created’ any jobs – you could even lay people off and still qualify.
Anyone get the impression that Osborne is just an ingenue?