Now we all know that motorists are very undertaxed in the UK with only, new car tax, VAT, vehicle excise duty, fuel tax, Car Insurance IPT, resident parking tax, town centre shopping parking tax to name but a few. But it is not enough.....
The latest which has started today in Nottingham (The old sheriff would be proud)) is workplace parking tax. If you are provided with a workplace parking space that will be £288 per year please, rising to £350 by 2014 after that is will be raised inline with inflation (so as wages are falling in real terms it will get proportionally bigger). Other
Dick Turpins councils in Devon, York, Hampshire, Bournemouth, Bristol, Somerset and Wiltshire are planning to introduce the
money spinner tax between 2012 and 2014. Nottingham will raise £8m this year rising to £11.3m in 2014. To justify it they say they are going to spend the money on transport infrastructure, but how long do you think this will be ring-fenced?
http://www.telegraph.co.uk/motoring/news/9179055/Tax-on-workplace-car-parks-begins-in-Nottingham.htmlHow long will be be before this is a nationwide scheme?
To balance the books the Goverment has got to decrease spending from 45% of GDP to 38% or increase taxes to 45%. Now which do you think will be easier? In 2008 UK Government debt interest was £16bn this year it will be £40bn. The tax ratchet will keep clicking until we are taxed on average at least 45%. As it is an average, those in employment on average wages without a family are already losing about 50% of their income in tax, so this is only going to get higher.
