Labour to tax the poor
Gordon Brown is set to rob you of all your money if you leave your bank dormant for 15 years. Don’t worry you can claim it back if you remember you have the money in the first place. I might just be a cynic but this seems like it’s going to punish the poor more than the rich. Let me explain…
Remember those baby bonds worth £250 that every baby will get which they can take out when they reach the age of 18? It seems from birth to adulthood is more than 15 years to me… This means that Brown will be taxing money that he has given you. Who will have left these baby bonds dormant for the longest periods? It will be the poorer families who can’t afford to add extra money to their child’s bank account while the richer members of society will be able to.
Apparently Brown has a clear vision about reducing inequality but won’t this just increase inequality?
Hat tip: Bel is thinking