Tuesday, 8 April 2008

Money, money, money ...


It's a rich man's world, indeed. There's been a bit of a backlash by Labour MPs over the abolition of the 10p tax rate which takes effect this week (although the decision was actually part of Gordon Brown's last Budget as Chancellor, but was tucked away in the small print). While Labour MPs were cheering the announcement of a 2p cut in the basic rate of taxation back then, they were unaware that the 10p band would go (Gordon was always a master of the smoke and mirrors type of Budget)and it's now clear that over 5 million of Britain's poorest people will be paying more in tax as a result. It's hard to stomach, even more so as that arch-Socialist David Cameron has promised to come to the aid of the poor and oppressed and is appealing to disillusioned Labour MPs to support his crusade!
If that makes for uncomfortable reading, the worsening economic situation is adding to the Government's headaches. Inflation is rising, with people feeling the effects of increasing food and fuel prices, and house prices are beginning to fall back. Now I happen to think that a downturn in house prices is a good thing - at last there is some sanity, with an end to 120% mortgages and easy credit based on irresponsible lending. It had to stop, and reality has finally kicked in: the slowdown in house prices and the end of crazy mortgages has got to be good news for those people who are struggling to buy their first home.
What must worry the Government, though, is an economy that is teetering on the brink of recession. Voters will forgive almost anything - take Blair's Iraq adventures - but mess with their savings or pensions and you are heading for oblivion.
And still on the subject of high finance - what can you get for 10 pence these days? Well, 10p can make the difference between getting on a bus or not in Edinburgh now. Fares recently went up 10p to £1.10p as I found out to my cost the other night (I don't use the bus too often). Now thanks to an understanding bus driver I was able to make my journey, but as I was travelling I did some calculations. I'm no financial wizard, but you don't have to be an economist to calculate that that's a 10% increase - substantially more than the rate of inflation.
So black marks to Lothian Buses but a gold star to the driver who let me on his bus for £1 - I hope it doesn't affect the company's profits too much!
So much for spring!
What happened to Spring? Easter Road was as bitterly cold as it has been all season on Saturday, and after a very bright opening ten minutes there wasn't an awful lot to warm up the freezing supporters (though a major fire nearby lifted temperatures a bit). On Saturday night we drove down to Cardrona, travelling through snow flurries and on Sunday got up to a fair covering of snow ( . Very nice to look at, but you've got to pity the poor wee lambs we passed on the way down - they must be freezing. I hope the weather changes soon and we get a couple of dry days at least - I never look forward to my first grass cutting of the year and it's looking like a bigger challenge than ever this year.
April Fool?
It's hard to believe we are a quarter way through 2008 already. I thought that this would be an appropriate time to look at my New Year resolutions and at some of the predictions I foolishly made.

Resolutions:
STOP SMOKING - Not yet
LOSE WEIGHT - As above
BETTER TIME MANAGEMENT - Hmm ...
STOP BUYING THINGS I DON'T NEED - Well ...

However it's not all a tale of abject failure. Oh no! Some of my predictions look like being quite accurate (okay then, one of them anyway). More on this next week - unless I am cutting my grass, while developing a glorious bronze sun tan! I'll keep the snow shovel handy just in case though ...

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