Treasury Stupidity or a Silly Smokescreen?
Friday 29th August 2025
In the run up to the Autumn Budget the Treasury team have been flying fresh kites about new taxes they intend to levy, virtually daily. Each kite more extraordinarily stupid than the one before.
The Treasury boffins are meant to be the brightest in the Civil Service.
Question. How can they even consider some of their proposals?
Answer. Because they are young, left leaning and have never worked in the real world.
National Insurance on private landlords’ rental income is the latest ludicrous suggestion in the property sphere.
Added to the Renters ‘Wrongs’ Bill, the EPC nonsense and, worst of all, the removal of the right to offset interest against income before tax, it will surely be the final nail in the coffin for the private landlord.
These civil servants must know that landlords selling will lead to higher rents. My cat could work that out!
The cynic in me has a theory:
The Treasury civil servants are bright and pretty well paid.
Could it be ……..they secretly want the extra supply of ex-rental properties on the sales market, so they themselves can buy them - at lower prices?
Hang their mates on lower salaries who still have to pay exorbitant rents.
Another cynical view:
Could it be ……..the very bright Treasury civil servants are flying all these incredible silly kites, not one of which brings in taxes quickly, as a distraction from their real quick-hit agenda?
If I were a bank or an oil company now, I would be very worried that there was another windfall tax being secretly planned, and that the silly kites are merely a deliberate distraction.
The politicians, never as bright but generally not stupid, will be hoping that the rest of us taxpayers will give a sigh of relief that we have dodged the bullet- for now.
Do please let me know if I am just too cynical.
Until next time…
PB
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