Saturday, March 31, 2007

Brown defied advice to make people poorer

A few days ago I blogged about how Brown was hurting the poor with his recent budget. It has been revealed that he has done this before; more specifically he did it in 1997 by scrapping of tax relief on dividends paid into pension funds. He can’t say he didn’t know it would make people poorer because The Times used a Freedom of Information Request which found that officials advised Mr Brown that:

–– The lower paid would be worse off under the new rules

–– Pensioners due to retire would lose out immediately

–– Businesses would struggle to adjust to the change

–– It would cost pension providers £4 billion a year

–– Pension benefits would be cut

–– Shares could drop by between 6 per cent and 20 per cent

–– The value of existing pension funds could fall immediately by £50 billion

–– Local authority schemes would need topping up, leading to higher public spending

–– The Department of Trade and Industry would be “gravely concerned” about having to bail out pension schemes driven into insolvency

So there we have it, Brown and his party have been deliberately making people poorer ever since they got into power. The only reason I can think why is that they want to make as many people dependent on them as they can which has been shown that they are doing. The people in power are mentally ill. We must get them out!

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