I've just heard Gordo interviewed by Humph on Today. Unfortunately H allowed him to get away with all kinds of infelicities that I'm sure would have been picked up by Mr TT:
- Tax is only 37% of GDP - when Humph put it to him that taxes are now 40% plus, Gord whacked him: "you must get your facts right John." But the truth is that while declared tax is officially put at 37% this year (Budget report), that excludes a further 2.3% of GDP accounted for by "other receipts". Among other things, they comprise all those service charges now imposed for things that used to be delivered free, or nearly free (eg see this blog). Including them, the government's take goes up to 39%. And on top of that, we have government borrowing of 3% of GDP, taking government's total take to c42% (government borrowing being no more than deferred tax - as pointed out by David Ricardo 200 years ago).
- The 10p tax rate mainly lined the pockets of the rich- jaw-droppingly, Gordo explained he'd abolished the 10p rate because 85% of the benefit was going to the undeserving rich. Humph failed to ask which idiot had introduced it in the first place (er..?). And he also failed to point out that the money had been used to fund a cut in the basic rate, which... er, lines the pockets of the rich.
- The banks were wrong to conduct so much business off-balance sheet- coming from Enron accountant Brown, who currently has well over £1 trillion of off-balance sheet debt (see this blog), that was a total gob-smacker. But once again Humph failed to spot it, preferring instead to concentrate on what he called "moral issues" and whether Gord was enjoying the job? To which his reply was...
..."it is a privilege to serve."
A privilege to serve.
Tyler wishes to state formally that he does not feel served, and if that's what G really thinks he's doing, he'd serve a lot better by effing off back to Kirkcaldy soonest.
PS Next time let's hope TT gets a crack at Brown - it would be great to hear him taken on properly instead of being allowed to escape into his statistical bramble patch.