Gordon Brown's 10 worst financial gaffes

  peter99co 10:22 24 Sep 2009
Locked

While we are on the subject of 10 worst things, this is an interesting list.

click here

  tein 11:29 24 Sep 2009

Peter GB & his party have more or less been handed there hat!

It doesnt take anything to search the net & see the Tsunami of british people that now have ZERO confidence in him & his party!

I agree he has become a PM at one could say is possibly the worst time ever! so i sympasise for him there! BUT thats where i stop! he has cost me money time & time again! i was awarded working tax credits & gave a acurate income so myself & my wife was awarded a amount per month! we was then told we owed then over a grand & was made too pay it back.??

how is this so.?

i could go on & on & on about Labour but there is STILL some people that support them? i find that so hard to belive! After ALL they have done?

  dagnammit 11:41 24 Sep 2009

tein you made a mistake then.

You tell tax credits the changes as they happen and thus you minimise the chance of over-payment.

For instance I just got a 2% payrise (big whoop!) and have been doing a brave bit of overtime recently and called them to say my income would be higher this year and they reduced my payments accordingly.
(Some might think why do O/T if it's costing you money but that's another issue.)

If I didn't do that then of course I'd owe them come April 2010. I ended up in debt to them for about £560 last year and chose for them to take it back weekly out of the money they awarded me for this year.

  tein 11:44 24 Sep 2009

dagnammit thankx! maybe that would of contributed! but we had no wage rise just a fluctuation in working hours as we all have.?

  Grey Goo 11:55 24 Sep 2009

Socialism is a great leveller, we are all broke together - except Union leaders, MP's.and their lackeys that is.

  dagnammit 11:58 24 Sep 2009

yes, that's it exactly...

They take back 37% of what you earn gross over what you told them.

So if you told them you would earn £12,000 but you earned £13,000 gross.

That's £1,000 extra so they'd deduct 37% of that from your allowance. You'd have to pay £370 back.

Thus:

£1,000 of over time.

Income tax payable = £200

Tax Credit deduction = £370

National Insurance = £110

Leaves £320 net.

  tein 12:10 24 Sep 2009

dagnammit!

Thanks for taking the time too explain! there system is well complicated! we often recive there large green/white envelope which weq can never make head no tail of?

  johndrew 12:27 24 Sep 2009

You missed out bankers in your list.

  Stuartli 21:59 24 Sep 2009

That list was published at the end of June - must be an even longer list now?

  Strawballs 18:59 25 Sep 2009

Oh what short memories some people have, what party was it that waisted 18billion in ONE DAY trying to prop the pound up in the ERM and at the same time had interest rates up at 16% trying to make the pound look more attractive, I left school and started work in 1978 (just in time to see the tories get into power) and I have been more financially secure since Labour got in than I have ever been.

They are getting criticised for for this recesion we are in and the amount they are spending propping up the banks, but if that is the case almost every government in the world must also be getting it wrong, imagine the world financial meltdown if the banks were left to fail, so at least they have something to show for the Billions they spent.

  nangadef 19:39 25 Sep 2009

Strawballs that was 30 years ago. Why not go back to the Labour govt. days of raging inflation?

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