Not to mention the new Building Society Act which was passed in 1986 allowing Building societies to demutualise...... just another way for those with disposable income to make another fast buck while those without the means to join in lose out.Originally Posted by joebloggs
I well rememberNigel Lawson's 1988 Budget when he cut the basic rate of income tax from 27 to 25 per cent and was was widely applauded by the tory press the Sun, the Express etc, for doing so, while at the same time he also abolished all higher rates of tax apart from the 40 per cent rate which was a far greater giveaway to the rich than the 2% cut he gave to Mr and Mrs average.... but as Maggie always said, "we must look after our people", by which she meant, true blue tory voters and those at the top.
At the time the Sun newspaper was full copy showing how much better off Mr or Mrs Average would be, but they didn't mention how very much better of Mr Rich who used to pay 60%+ and who's income tax had been slashed by a third was going to be. But of course, that was reaganomics and all that extra wealth given to the already rich was in theory supposed to trickle down to the rest of us in some way....... some hope.
