The Prime Minister, Gordon Brown, has today hinted at possible tax cuts to get the economy going again. This sounds great but how is that going to work? Where are these tax cuts going to take place?
Well it’s early days yet and nothing more has really been said by Mr. Brown other than that tax cuts would help. Well yes, but so would free fuel for everyone, but who’s going to pay for that in the long run? That’s right, us, the taxpayers.
Nothing is free in this world. Stating the obvious I know but it’s the truth. I hate to be the critic but cutting taxes somewhere will mean increasing them somewhere else or simply getting them back at a later date.
It may kick start the economy which I guess is the main thing but we should expect future problems unless we somehow magic a no claw back tax cut from the government which I think is highly unlikely.