by Tunde Adelakun

Created on: December 26, 2007   Last Updated: December 27, 2007

A recent opinion poll in the United Kingdom put the Conservative Party led by David Cameron at its highest rating in the past 15 years.
The Conservative Party polled 41 percent,compared to Gordon Brown-led Labour Party's 38 percent.This trend has undoubtedly put a lot of stress on Gordon Brown ,considering the fact that his predecessor,Tony Blair ,had to step down as Prime Minister two years ahead of the end of his term,in deference to public opinion that there should be a change..

Just about 6 weeks ago ,Brown was the toast of the British press and that of the average electorate.He was generally believed to have significantly contributed to the growth of the economy during his 10 years as the Chancellor.He was rated as a high performer within the short period of becoming the Prime Minister .Brown was , apparently, moved by his rising profile, promised during the Labour party's convention last month that he might call a snap election in the Autumn,although he did not have to do so until 2009.His profiles soared further after his extremely brilliant speech at the convention.
The Conservative Party was,however,able to pull the rug off the feet of the Labour Party two weeks later at the Party's convention. As David Cameron not only delivered an equally brilliant speech but unfolded a tax reform programme which appealed to a large spectrum of the populace.In sum,the threshold for inheritance tax will be increased to estates worth from 300,000 to 1 million British pounds sterling ,meaning that only the rich millionaires will be paying Inheritance taxes.
Anyone buying their first home for below 250,000 pounds will be exempted from stamp duties.The tax cut will be financed from a new 25,000 pounds per annum flat6 tax on non domiciled residents' who live in the United Kingdom but are not considered permanents.The new tax is estimated to generate revenue of about 3.5 billion pounds.The proposed tax reform may seem to some people as mere tokenism,but it struck the right cord in the teeming majority middle class people who stand to benefit significantly from it.
Buoyed by his confidence in seeming superiority of his electoral promises, Cameron held Brown to his promise to call a snap autumn election.Assessing the damaging impact of the proposed tax reform of the Conservative Party on its electoral fortunes,the Labour Party was constrained to reconsider its plan to hold elections at the risk of its credibility in the estimation of the public.It was apparently a choice between the devil and the deap blue sea' for the Labour Party.Smarting from the abyss of the moral dilemma it found itself,the Chancellor ,Alistair Darling of the Labour Party unfolded in his pre-budget budget speech a tax reform in a manner that was similar{yet inferior} to that of the Conservative Party.Labour also promised to reform the Capital Gains Tax with effect from April 6,2008.
This means that if Labour had thought of regaining voters' sympathy by its belated tax reform proposal,it would be a complete error of judgement on its part.The Labour Party has been described as being short sighted and managing the economy by responding to polls'.
The question is why should tax reforms be based on political, self preservation , rather than the public needs? .It is high time that the UK government separate itself from the unfolding political drama and focus on people oriented programmess such as favourable tax reforms

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