Will We See A New Taxation Policy Under Gordon Brown?
There is much speculation in political circles at to whether Gordon Brown will use his forthcoming appointment as Prime Minister to distance himself from the past and take Labour back to the people.
How ironic it would be if the new leader chose to reduce the taxation burden on the UK population, when he has been responsible for some of the largest tax hikes in UK history. Can he really let go of the Treasury reigns when he moves?
While it seems as though Gordon Brown will herald a new era for the government, there is little chance of a reduction in taxation for the masses. We may see some tinkering with current legislation, “robbing Peter to pay Paulâ€, but the net effect is likely to be minimal,. When Mr Brown was Chancellor of the Exchequer, he had a fairly free reign on the changes in taxation, spending, etc but will it be the same for his predecessor?
There is speculation in Westminster that Mr Brown will not afford the same luxuries to the new Chancellor, and he will take a more hands on approach than the one taken by Tony Blair. While it seems the change will effectively be “business as usual†Mr Brown will be very keen to increase his popularity rating with the voting public. To this end we should expect a period of relatively little change in the tax environment, with perhaps the odd “give-away†as we approach the election.
Gordon Brown cannot afford to put a foot wrong between now and the next election, therefore we should be in for some interesting times.
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