11:56 October 9th, 2007
Chancellor Alistair Darling all but matched Conservative tax cut pledges in a pre-budget report designed to win back voters. While conceding that the economy would grow more slowly next year than had been expected, he reached out to home-owners by doubling the current 300,000 pound threshold for inheritance tax, and he also closed the loophole under which millionaire bosses of private equity funds pay little income tax. The chancellor also announced that he would consult on legislation to charge non-domiciled taxpayers, another policy favoured by the Tories.
Will those pledges help Labour to regain its lead in the opinion polls, or are they just a rehash of Tory ideas and a sign that the government has been forced to accept the Conservatives’ pace on tax reform? Send us your comment.
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14 comments so far
I think Labour has played a clever strategy by holding out on calling an election. They forced the Tories to reveal their platform (beyond the rhetoric on family values they’ve been spewing for months) and then they reacted with the pre-budget report. Labour may have been forced to accept the Tory position on tax reform, but they can further other Labour policies between now and the next election. I don’t think the Tories would be so generous with NHS funding so, in fact, I think Labour should be credited with more than just stealing the Tory platform.
- Posted by JuneAs with Brown’s “changes to corporation tax” which turned out to be a £5bn per year tax on pension funds, and his “cut in the standard rate of tax” which turned out to be the abolition of the 10% tax band, let’s wait and see what Darling’s “give-aways” really add up to. This pair sing from the same corrupted song sheet.
- Posted by Mike TBrown knew he would’nt win so he backtracked.
- Posted by AndrewNow they know they won’t be winning any elections unless they copy the Conservatives.
What a joke they are. People will see right through that.
Sorry June, but this doesn’t indicate any clever strategy by Labour (and I speak as a long time Labour voter), this smacks of a bankruptcy of ideas and desperation to win back the popular vote at any cost. This is a government on the back foot and in trouble, and I doubt that this will be easily spun out of.
- Posted by MungoOf course not. No damp powder here, an inkling of new policies and Labour pounce on any scrap or dried bone.
They are becoming devoid of new ideas, they follow both the Liberals and Tories like little lap dogs.
Interesting times ahead.
- Posted by Tom BeggLabour have had over 10 years to come up with these policies themselves - and haven’t. When the Tories do it, they see the popularity and copy it for themselves. They claim they are in touch with the electorate and yet it takes their rivals to show them the way…
- Posted by LucyClever - or really just second rate policy developers?
Labour has played the old trick of copying the Tory policy which so enamoured the nation to them, but the cunning twist to it of not being so generous to our children.
- Posted by Richard M. ReynoldsTo nudge up these people who grasp with one hand and give grudgingly with another we need a change of government to preserve our democracy. Brown has been in power too long and will not change his habits. Spin, spin and smoke and mirrors.
This just proves what a cynic Gordon Brown is. He things he can cover up his tax increases and numerous stealth taxes by pretending to be tax friendly and even then is completely unable to think of his own ideas and has to seal others ideas. Let’s hope the electorate see through this deceitful ruse.
- Posted by PeterA question for Mr Darling.
What would the probability of a couple dying at the same time be for this £600,000 inheritance tax threshold to come into play? If one dies the other would inherit all “tax free”. When he or she dies the inheritance tax threshold would revert back to that for a single person, wouldn’t it?
Labour will need to do alot more than this to win my vote! Bring on an election the sooner the better!
- Posted by AndrewI think that Labour has indeed played it cleverly. By allowing the focus to fall on political positioning they have deftly allowed the fact that instead of being £4 billion in the black on borrowing they instead had to borrow an additional £8 billion. That’s a wopping £12 billion error in projections. No wonder they can afford to give more to the NHS, they just borrow and have future generations pay it back! Indeed, one has to ask who’s hands is the economy safest in?
- Posted by PeterThis financial statement is without a doubt the most puerile example of putting party above the interests of the nation I have seen in my sixty years of following parliamentary debates. It would not be out of place in the school playground. Darling might just as well have ended his statement with: “Yah-boo! We stole your thunder!”.
- Posted by JamesWas this not another example of Labour spin which has fooled the public and the media. Did they not listen to Mr darling add the words “For a married coupe” after mentioning £600,000 inheritance tax threshold.
- Posted by Dudley HeathHe is not offering anything new, if my maths is correct, there are two people in a married couple and each person has an allowance of £300,000 which makes a total of £600,000.
How can people be so gullable?
This is cynical party politics at the very least and possibly something a lot more dangerous. Everyone with half a brain knows that this report was brought forward purely and simply as an campaign opportunity. The plan has back fired and now the Chancellor is wildly using this to regain some political momentum… not good.
- Posted by Alex“You can fool all of the people some of the time; some of the people all of the time …. etc etc” What does Brown really think the public are? Complete idiots?
- Posted by Paddy