Labour may be looking a bit healthier but this will be short lived as the economy comes back to bite them. It never fails to amaze me how short memories are. It was Gordon Brown that destroyed our pension system when he changed the tax treatment of Advanced Corporation Tax. It will be interesting to see what Gordon does to pensions this year - some are suggesting ,somewhat fearfully ,that having spent so much on shoring up the banks he may not be willing or able to afford a proper inflation related annual increase.
Gordon had to shore up the capital and liquidity of the banks but this wasn't his idea - but rather that of the Treasury. But while what happened was necessary it was much too late. Many commentators have said, quite rightly in my view, that this recession has been as much about emotion and a failure to act decisively as it has been about the obvious shortcomings of our banks and our financial services systems and regulation.
And what plans does Gordon have to get the country back on its feet - other than those he has stolen from the Conservative Party? None! It was our idea to protect pensions and savings locked in banks - not Gordon's - and he still hasn't passed the legislation to move the savings ceiling to £50,000. He still hasn't bitten the bullet and reduced fuel related tax revenues - he has just asked the oil companies to be better behaved!
Conversely at our annual Conservative Party Conference we unveiled a number of immediate changes we would put in place to help people deal with the rising cost of living and the threat of unemployment. These include:
- a two year freeze on council tax which will save a typical Band D household over £200
- a fair fuel stabiliser so that fuel duty is cut when oil prices rise
- a reform of Post Office Card Accounts to enable direct debit payment of utility bills saving holders £100 a year
- a breathing space for good small businesses otherwise threatened with going bust to save jobs
- raising the stamp duty threshold permanently to enable 9 out of 10 first time buyers to pay no duty
- working with lenders to ensure repossession is a last resort
- simplifying the tax system to reducing business taxes and eliminate the couple penalty
But the Conference covered much more. The Conservatives would put an end to NHS targets which measure the wrong things and impede rather than improve patient care and choice. We would also bring discipline back to the classroom by allowing the headteachers word on such issues to be final. We would increase the much needed number of apprenticeships in the country giving £2000 to those small businesses taking an apprentice on. We would suspend the forced post office closure program on the day we are elected. But none of this and much much more received any coverage!
Come on Gordon - don't just sit there. If you really think you are doing so well - ask the country and call an election!
