How Mr Smith walked into a trap

Article Abstract:

Mr John Smith, shadow Chancellor, proposed a budget with two costed spending commitments, pensions and child benefit increases, which could not be counterattacked by the Conservatives as in 1987. The upper rate of income tax would be increased from 40p to 50p in the pound sterling and the 21,060 pounds sterling ceiling on national insurance contributions (NIC) would be removed to pay for the benefits. Mr Norman Lamont's budget had to be heard before the Labour team could finalise the details of their package and Mr Smith's speech had to be completed in only two hours. Mr Lamont's new 20p income tax band forced Mr Smith to propose removing the NIC ceiling immediately rather than phasing it in. Mr Smith presented his Budget on Mar 16 1992 at the Institute of Civil Engineers and polls showed much support. Ultimately, however, this budget plan may have been the Labour Party's downfall.

Smith, John (British politician)

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One foot in the electoral grave

Article Abstract:

Christchurch, Dorset, England, has voted Conservative since 1906, but is expected to elect its first Liberal on Jul 19, 1993. Tory MPs (Members of Parliament) in the south of England report a cultural change in voters. In May 1993 county council elections lost 15 seats. The Liberal Democrats became the biggest party in eight counties in the south. People in the south object to VAT on heating bills, the increase in crime and the threat to pensions. Christchurch has 34% retired people and 8.6% unemployment.

Elections, Conservative Party (United Kingdom), Liberal Democrats (United Kingdom), Dorset, England

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Brown eyes the lottery jackpot: early Budget will shake up welfare

Article Abstract:

New UK Chancellor Gordon Brown is planning to introduce a wide-reaching Budget, possibly as early as Jun 10, 1997. This will be based on a 5 billion pounds sterling windfall profits tax on the privatized utilities. The money raised in this way will go towards reducing unemployment, especially among young people. Brown is likely to make attempts to ensure that more of the 1 million pounds sterling a week profit which is made by National Lottery organizer Camelot will go to good causes.

Planning, Budget, Budgeting, Budgets, Brown, Gordon (British politician)

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