Friday, 23 March 2012

The Budget

Whenever a motoristsees those tow words, the and budget, they always cringe in horror at how much more money they are going to handing over to the government.

Luckily we are not getting any stupid gimmick taxes or charges but we do have one major change that I'm sure will displease many a gas guzzler owner. Fuel duty tax will increase by 3p a litre. This is expected to force the average price of petrol up to around £1.45 a litre. In other words all the cars I see driving around today will probably disappear because they are too expensive for anybody to run.

I know that I myself wouldn't be too happy right about now. The real issue here is this. We already pay more than any other country in the whole world for our petrol. You would've thought with a statistic like that, that the goverment would start to be a little bit kinder on it's citizens, but you forget, this is predominently a Tory government and the answer for the increase comes elsewhere within the budget.

For the last few years rich people who earn more than £150,000 a year have had to pay 50p tax on every extra pound that they earn. In the recent budget Chancellor of the Exchequer George Osbourne announced this will be slashed to 45p. This still means that we have the highest level of top rate tax in the world. Essentially you'll still get the same number of richies going to tax havens rather than the UK which means there's going to be a drop in income for the government, a hole that must be plugged elsewhere. At the moment it's the older generation who are being punished most but they are not alone as motorsists are also being hit.

Yes the budget has always been a painful time for motorists and that tradition is set to continue. Well that's about enough for me and here's a little image of Osbourne for you to throw darts at! Please do come back again soon.

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