A quick summary of the key points for business in the Emergency Budget is available here:
http://www.reachinsurance.co.uk/emergency-budget-good-business
The VAT rise – at 20% higher than analysts were predicting - seems a spectacularly bad idea to me, but I’m still working through the details. And all of the options available at this point seem unpalatable.
If you’re in Bristol this afternoon, there is a big gathering of the “Bristol Convention of the Left Rally: Their Crisis - Who Pays?” at College Green. This seems admirably honest, as the current financial situation of the UK (and other economies) is indeed down to the left. If you want someone to blame, you could do worse than start with this lot:
- Ken Loach - Film Director
- Bernard Kennedy - Branch Secretary ASLEF Bristol
- John Drake - Secretary FBU SW Region (p.c.)
- Bristol Stop the War
- Bristol Defend the Asylum Seekers Campaign
- Bristol Unite Against Fascism
- Right to Work Campaign
- Matt Gordon - Youth Fight for Jobs
- Carol Meghji - International Officer UNISON UWE (p.c.)
- Jerry Hicks - Candidate for UNITE General Secretary
- Julie Boston - Campaign for Free Public Transport
- Katie Buse - Green Party (p.c.)
- Socialist Workers Party
- Paul Smith - Labour Party
- Gurchetan Shoker - NUT Rep Ashton Park School
- Paulette North - Secretary Joint Unions at City Academy
- Dave Wilshire- Secretary Bristol and District CWU (p.c.)
- Glen Burrows - Bristol RMT (p.c.)
- John McInally - PCS National Vice President
- National Shop Stewards Network (South West)
P.S. In case you were wondering, it's you that pays. Always.