tag:blogger.com,1999:blog-14306519.post7483005757802021094..comments2023-07-15T11:16:18.809+01:00Comments on giroscope: Taking on the Tories on NICsT.N.T.http://www.blogger.com/profile/13994761000416067940noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-14306519.post-27323808603565032012010-04-12T21:47:57.391+01:002010-04-12T21:47:57.391+01:00I think the problem isn't that we are spending...I think the problem isn't that we are spending "too much" on public services - it's that we aren't taxing enough. Govt revenues were inflated by the "long boom" of 1997-2007 and the "real" level of long-term revenue is probably where we are now... we need to raise tax by about 5% of GDP (or so) and then we're in a long-run sustainable position. Simple really. <br /><br />I actually agree with you for once on the NICs/Income Tax thing. They should be rolled into one - it's insulting the intelligence of voters to suggest that they don't see NICs as a tax. Oddly enough, this was proposed by the SDP/Liberal Alliance as a policy in 1987 but the "36% income tax" headline did not play well with the electorate, apparently. It's at times like this that I really miss Roy Jenkins...T.N.T.https://www.blogger.com/profile/13994761000416067940noreply@blogger.comtag:blogger.com,1999:blog-14306519.post-7474842715816209062010-04-12T07:19:45.455+01:002010-04-12T07:19:45.455+01:00I don't think someone's salary is relly re...I don't think someone's salary is relly relevant to the validity of their argument and that works both ways. I actually tend to agree with you in so much as some level of tax rises is likely to be necessary and that without it the deficit will be difficult to close. For me, National Insurance is something of a ridiculous concept anyway, created six decades ago when life expectancy even upon reaching retirement was far lower. May as well go the whole hog and absorb it into the Income tax rates anyway.<br /><br />I have a hard time with the concept of what exactly 'Front Line services' are as well. Are you seriouslky suggesting that in an overall budget of £600 billion, efficiency savings of more than 2% are unattainable. I agree the Tories plans might be over-cautious. If Brown (or any other vaguely Leftist figure) wants to suggest the current level of public expenditure, seemingly without limit or whit of positive impact is sustainable then they are just plain kidding themselves. My only issue with £6 billion is it constitutes about 3% of what I estimate is ACTUALLY required to stave off imminent national bankruptcy.Anonymousnoreply@blogger.com