I am no slouch when it comes to maths but there is one thing that I fail to understand about Budgets – they just don’t add up. Not so much the sums as the pretense of what they are about.
It was Budget day here in the UK yesterday. The Chancellor Of The Exchequer Alistair Darling made his first budget speech.
There is something in common with all Chancellors over the years from all political parties that has fascinated me. We all know that they have to raise money for the things that we want – our schools, hospitals, defence, pensions, roads whatever. Whenever there is a situation where the government coffers are short and the budget has to clearly increase taxes the speech is always full of justification for the taxes they choose to raise. (more…)