WITH Wednesday’s budget amounting to a bit of a damp squib except for the larger businesses, I was wondering about the “pound in my pocket” and how much it was really worth.
The “pocket pound” is already devalued by our income tax; I suppose that makes it really worth about 85p, accounting for allowances. Then if I buy goods in a shop, 20 per cent of that cost is also taken by the Government, so then the 85p becomes really only worth 65p.
Use that same 85p pound to buy petrol and the value is only about 23p! The rest of that spend being taken by the Exchequer.
Those costs are for the first time that pound is used, so if it goes through the system a few times is it really in a negative value?
Paul Hudson, Headingley