New Labour promised not to put up income tax to get elected. So instead of in-your-face direct taxes, Chancellor Gordon Brown gave us new, indirect, Stealth Taxes and he abolished tax concessions. His attempts to fund New Labour's Fat Government Policy have savaged the pensions and savings industries and had cost the nation the equivalent of 16.5 p in the pound on the basic rate of income tax by 2004.
Read it and weep.
Hat tip to Tom Paine.
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