Wednesday, February 23, 2011

A Brief Thought on this Month's Budget Surplus

A lot of Tories and right leaning media types seem to be rather happy about the higher than expected revenue for January this year. I really don't think it deserves such celebration.

It's worth pointing out that the higher revenue was due to higher income tax, and a fair bit of that was from self assesment returns due at the end of that month. It's then worth pointing out that these returns would have been for the tax year running from April 2009 to the end of March 2010 (when Labour were still in power).

So not necessarily something that the coaltion can take all the credit for.

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