To coincide with Gordon Brown’s birthday last month, the prudent, iron chancellor made a surplus of £21.4bn thanks in part to a surge in income tax from record City bonuses. I can only imagine what he is planning to spend it on, but I’m sure he knows full well. With the incredible amount of money we are paying in taxes each month at the moment along with the seemingly endless list of stealth taxes we have to put up with, coupled with the waste this government is synonymous with how can he have a surplus of £21.4bn in one month. Surely he does not need to be collecting so many taxes?
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How come? Because there's a
How come? Because there's a surplus every January, because that is the deadline for self-assessment tax returns. The surplus is actually slightly lower than forecast, and leaves net borrowing in the fiscal year to date lower than last year, but still higher, at £28bn, than needed to meet his forecasts. But when has Gordon ever cared about meeting his deficit forecasts?