Thursday, April 23, 2009

High taxes don't win votes or attract winners

Not when you've run deficits and borrowed the country into the ground.

The Daily Telegraph reports a massive swing to the Conservatives in the latest Yougov poll.

45% Conservative
27% Labour
18% Liberal Democrats

David Cameron has a 56% approval rating, vs Gordon Brown with a 69% disapproval rating. Not that the Tories have earnt it, they are just very lucky they didn't win the 2005 election.

Expect Labour to get a pounding in the forthcoming MEP elections for the European Parliament and the selection of local body elections that are run at the same time.

Meanwhile, the FT reports the new 50% tax rate will drive talent from the City of London.

The head of one City institution with a strong private client business fumed, “What are they trying to do, drive all the high-earners out of London?”

New York must be rubbing its hands with glee, and ready to welcome an influx of talent in a year's time.

Of course the knuckle dragging tracksuit wearing "werking peeepill" will think it's fair - and as a result the Tories are not promising to remove the new tax. Oh well, let the UK get what it votes for - and watch the talent leave.

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