Thursday, July 26, 2007

Labour to tax the poor (2?)

Unclaimed money from abandoned bank accounts will fund government plans to provide positive activities for teenagers and reduce youth crime.

The funding - £184m of new money - will be supplemented with money taken from so-called "dormant" bank accounts, which have not been used for 15 years or more.

They are recycling news again. I blogged about this in March and there is still trouble with it which might mean that it affects the poor more but it seems that I am the only one to notice.

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.

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