12 April 2012

Not everything he does is wrong

Most things certainly, but on this occasion maybe he should stick to his guns?

George Osborne may soften the blow to charities of his plan to cap tax relief on donations amid a growing backlash from philanthropists, Cabinet ministers and senior Tory MPs.
The Chancellor is under mounting pressure over his decision in last month's Budget announcement to bring in an annual cap of tax-free giving of £50,000, or 25 per cent of an individual's income, from April next year.
It cannot be right that financial support for charities, either in terms of the choice of charity or the amounts provided, should be determined by a few rich philanthropists, while the poor sodding taxpayer has to make up the difference in lost income to the Inland Revenue.  And if those philanthropists are so dependent on favourable tax treatment to keep on giving, then perhaps they are not as motivated by altruism as everyone appears to think they are.

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