2007年6月20日星期三

Death and Taxes

As the old saying goes, nothing in life is certain but death and taxes. This certainly has been the case under New Labour. Every year, the hard working British taxpayer is hit with tax hike after tax hike. Below is a chronological list of tax rises initiated by Gordon Brown over the last decade. It makes for pretty depressing reading!

1997

1. Council tax increased by 6.5pc

2. Mortgage tax relief cut

3. Pensions tax

4. Health insurance taxed

5. Health insurance taxed again

6. Fuel tax escalator up

7. Vehicle excise duty up

8. Tobacco duty escalator up

9. Stamp duty up for properties over £250,000

10. Corporation tax changes

11. New windfall tax on utilities

1998

12. Married couples' allowance cut

13. Tax on travel insurance up

14. Tax on casinos and gaming machines up

15. Fuel tax escalator brought forward

16. Tax on company cars up

17. Tax relief for foreign earnings abolished

18. Tax concession for certain professions abolished

19. Capital gains tax imposed on certain non-residents

20. Reinvestment relief restricted