Posts Tagged ‘sacred cow’

Nick Palmer says the sacred cow of income tax may be unwell

15/06/2010, 02:33:56 PM

One of the curious features of being a Labour MP in the last three elections was that we would often wake up and find out from the newspapers that we were irrevocably committed to something that we had not discussed, but which Tony or Gordon had decided was vital to our chances.

A hardy perennial was the recurrent commitment not to increase the standard rate of income tax. This was part of the New Labour deal: we were not unilateralists; we weren’t going to nationalise the commanding heights; and we wouldn’t put up your income tax.

This probably did help initially in refurbishing our image, but it has become a sacred cow. In these troubled times, we should re-examine the cow to find out how it’s getting on and if, in electoral terms, it is actually still alive. (more…)

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