By all accounts the Chancellor (ahem Gordon Brown ;) ) is going to announce tax cuts , possibly billions aimed at getting us all spending.

 

Is this purely a pre-election bribe, followed by a snap election or is it a necessary decision to help stimulate the economy?

 

There is no doubt these billions will have to be repaid by all of us in the near future, either by income tax increases or VAT going up or more stealth taxes. This seems to be the Labour plan, although they are not admitting to tax increases, they presume that all the unemployed will all get back into work and their tax from their wages will make up the difference. This could be a tall order.

 

The tory's want to decrease spending to fund tax cuts, I presume they mean Education, the NHS, etc, although they are being rather vague on the actual areas they would cut. This sounds prudent but not a vote winner, and not very exciting.

 

What do you think is the right way forward.

 

Should we cut taxes now, or leave things as they are?

 

If we cut taxes should we be prepared for big tax rises in a couple of years, or should we cut spending to what we can afford?

tbh im not bothered if tax cuts are a pre election bribe. its all been done before so should be expected. i dont agree with cutting funding to the nhs or education.. therefore stimulating the economy through tax cuts seems the best way forward.

I have to agree with mushy, cutting spending from vital services such as the already overstretched NHS and Education is not the way to go.

 

I aim not be living here when the Tax increases kick in ^_^

Next week I aim to single handedly refloat the economy when I start my Xmas shopping and buy my new car - Watch out Bluewater/Vauxhall, you won't no what hit you!

 

Yeh so the tax cuts are definately welcome, it's a bit annoying as being an accountant all these changes only make my life harder but meh atleast I'm not a specialist in tax