British Budget 2010 – Blink and you missed it | AccountingWEB

British Budget 2010 – Blink and you missed it

Here in the UK we have had the annual budget presented by the Labour Government.   The last before the election, thought to be on May 6th.  In the USA you have a routine of elections every four years,  but here in the UK the Prime Minister can decide whenever he likes.   His maximum term is 5 years.    Five years ends in June.    So the budget had to please voters, markets and his own politicians if he wants to stay in power.  Staying in power is the most important thing of course, why worry about taxes, borrowing, or public services.

25% of what the UK government is spending they are borrowing,  in other words they spend 33% more than they earn.   And because they have over spent £11bn less than they thought they would commentators  say how wonderful it is.

I thought I would try this, earn 100, spend 133, next year I will try it again but not finding it so easy now I am living on the streets.   Governments don’t have to worry about such things they just pick the citizens pocket.      There’s an idea to get me off the street!

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By Steve Knowles - More than 25 years in business and practice in the UK means that there is very little that I haven't seen before.  But I also worked on your side of the pond and I have spent too many hours on planes and in airports.  But the years haven't dulled my way of seeing an alternative view to everyone else, and everyday is a new adventure.

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