Largely Rich-Taxing English Budget Characterized as Anti-Poor

Over in Ye Olde Isle of Knifecrime, the new proposed budget by Chancellor of the Exchequer Alistair Darling scraps a tax on houses that cost less than £250K, but taxes by 5% more homes that cost more than £1m. The cap on small business tax relief was raised. Minimum rage (and the wage, too) will go up! The top-earning tax rate is going up 10% (although some moderately lower-earners will be shoved into a higher tax bracket as their income rises slightly). The cigarette tax is mild-just all of 1p above inflation. Apart from the slight uptick in sin taxes-something we’re no stranger to in New York!-it’s, for the most part, a moderately pro-poor budget from the man who put a 50% tax on banker’s bonuses and made a fortune from it. Let’s see, how does this get characterized in the tabloids? “Alistair Darling today shamelessly raided the pockets of Middle England as he unveiled a nakedly political Budget packed with populist pre-election bribes… Now it’s class war!” Oh! That’s just like in America but with funny language!