Saturday 13 February 2010
Not so Relaxed?
Alistair Darling's bonus supertax appears to be upsetting people in the City of London. Tim Linacre of brokers Panmure Gordon said "This piece of legislation was cobbled together over a weekend. It is politically inspired and economically illiterate. It is vague, unclear and nobody knows what it means." On the contrary, I know what it means, and so I believe do a lot of other people. It means that a Labour chancellor, standing at the steps to the scaffold for his government, has briefly re-acquired sufficient balls to hurt the people who've been looting the public purse for private enrichment for so long. Vince Cable has called the tax "an embarassment". There's truth in both these critical comments: the tax is politically inspired (hoorah), and it is too an embarassment, if that means the opposite of "intense relaxation"...
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