Saturday, May 3, 2008

Brown to scrap tax rises in bid to calm voter fury

Sometimes politicians move with alacrity*. We posted "Trendspotting: Green Tax Revolt in Great Britain", a collection of headlines from Thursday and Friday, seven hours ago. Now we read:

· Fuel duty and rubbish tax are first Downing Street targets
· Moves to ease family budgets after drubbing at polls

Gordon Brown is poised to scrap a series of unpopular tax rises as part of sweeping changes to stave off a dangerous revolt over the rising cost of living which last week dealt Labour its worst electoral hammering in 40 years.

Today the Prime Minister will respond to a growing suburban uprising by signalling moves to help motorists and consumers. His intervention comes amid a fresh assault over the 10p tax rate change which backbenchers have warned could destroy his premiership....MORE from the Guardian.

The link above ended:

I'm not sure what this means, there may be some political repercussions.
1776 comes to mind.

*Old-times, you know the shtick, for folks new to the blog, you can read about the intersection of politics and business:
"Global Warming, Politics, Laws and Opportunity--Part II", or take our word for it.

Learn, love, live the words of:

Finally for investors in rent-seeking organizations there is the real risk that the politicians will change the rules. Heed the words of Sen. Simon Cameron (R&D!-Pa.):
"The honest politician is one who when he is bought, will stay bought."