Tory Plans to Scrutinise Bank Accounts
February 23, 2010 12:54 PM
Lib Dems ask "Is Nothing Sacred ?" As Tories announce plans
to allow Inland Revenue inspectors to scrutinise residents
personal bank accounts
Once upon a time, your financial details were only known to your husband or wife, your bank manager and, if you had one, your accountant.
Now - The Conservatives are planning to do away with PAYE and
get your bank to deduct tax when the payments come in.
They claim that this will remove the burden of calculating the payments, and therefore red tape from business.
But the truth is this won't even save on HMRC staff as they will be busy monitoring every bank statement.
As a result of George Osborne's latest ill thought out wheeze the Inland Revenue will be able to see every single payment in
and out of your bank account,
to avoid this it is likely that the black economy will flourish and revenues to the exchequer will fall. There will be a government spy in
the local bank branch.
Councillor Keith House, Lib Dem leader at HCC said "Is nothing sacred
from the centralising Conservatives? This is a snooper's charter and it wont help our local economy at all".
Councillor Chris Thomas, Lib Dem spokesman on Business and the Economy
at Hampshire County Council said,
"The people of Hampshire will not care for these latest Tory plans to allow government inspectors the ability to scrutinise our every single bank transaction.
The Labour government is talking of phasing out cheques in favour of debit and credit cards but if inexperienced Tory George Osborne has his way
all that will happen is people will pay for everything cash in hand to avoid big brother style inland revenue analysis of our bank accounts.
This wont save the government money it will lose it as people will pay cash in hand so it wont be taxed.
In contrast Liberal Democrat Vince Cable is a safe pair of hands when it comes to the economy
Liberal Democrats will reverse inequality of wealth by taking anyone earning less than £10,000 out of income tax all together
removing the burden from local businesses and putting more money into our economy.
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