We can’t trust Mr Blair’s ‘vote now, pay later’ budget

Responding to the Budget, Conservative Parliamentary Candidate for Greenwich & Woolwich, Alistair Craig warned today that taxes will rise in any Labour third term, just as happened after the 1997 and 2001 elections. The small print of the Budget has also exposed that the tax take from many stealth taxes will rise, not fall.

Some of the implications of the Budget for Greenwich include:

• The average stamp duty bill in Greenwich is still £9,101

• Since the 3% and 4% stamp duty thresholds have been frozen, more and more detached homes in the borough will be paying the top rates of stamp duty – a stealth tax hike.

• Given the average house price in Greenwich is now £215,974, the average terraced house or flat will not benefit from the increase in the 1% threshold.

• Gordon Brown’s tax take from council tax, stamp duty, capital gains tax, corporation tax, inheritance tax and income tax is rising, not falling.

Alistair said, “This was a vote now, pay later budget. What Mr Blair offers with one hand before the election, he would take back with interest with the other hand after the election.

“Mr Blair has broken his word on tax 66 times. Before the 1997 election, Mr Blair said he had ‘no plans to increase tax at all’. But we already know that council taxes in area have soared by 39 per cent since 1997, along with other stealth taxes like the £5 billion tax on pension funds, higher inheritance tax and National Insurance.

“Blair pretends that he wants to help pensioners. First he offered them 75 pence, now he promises a one-off £200. By contrast, Conservatives will match the £200, and we will introduce an ongoing discount, for the 65s and over. This will save a single pensioner in Greenwich more than £2,140 and a pensioner couple £2,500 over the next Parliament.”

“The choice for voters is clear: lower taxes and value for money - with extra funds for schools, hospitals and police - with Conservatives, or higher taxes and more waste under Mr Blair.”