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German Bankster's Back Conservative Party in UK General Election

ElectionOracle / UK General Election Apr 09, 2010 - 05:29 AM GMT

By: Nadeem_Walayat

ElectionOracle

Germany's biggest bank, Deutsche Bank has thrown its weight behind the Conservative party in an 82 page report "UK Election what if? " stating that a Conservative win would boost the stock market.


The report also included commentary that the Conservatives plans to cut public spending are far more credible than Labours. Which is an incredible conclusion to arrive at as neither party has detailed where and what they will actually cut, instead producing waffle that alludes to efficiency savings.

The bank also favoured conservative party policy on National Insurance which has been played as a political football these past few days, though again the facts of the N.I. debate have been clouded in much misinformation.

National Insurance Tax Rise Facts

There is much confusion in the mainstream press as to exactly what changes in NI have been proposed, therefore this should clarify the matter:

  • The Labour party will raise NI from 11% to 12% on all earnings over £7,000 (up from 11% on all earnings from £5,700) upto a limit of £44,000, and raise the upper rate for all earnings above £44k from 1% to 2%. Employer contributions to rise from 12.8% to 13.8%.
  • The Conservative party will raise NI from 11% to 12% on all earnings over £8,000 (up from 11% on all earnings from £5,700) upto a limit of £44,000. The Conservatives will not raise the higher rate from 1% to 2%, nor the 12.8% rate on employers.

So the facts are BOTH parties will raise NI from 11% to 12%. The difference in raising the starting rates means under Labour those earning over £20,000 start paying more NI tax, and for Conservatives it means those earning over £35,000 start paying more tax, that and not hitting the rich (earning over £44k) and employers contributions. The net difference to the exchequer between both parties is £6 billion per annum.

Germany's biggest bank coming out in support of the Conservative party should not come as any surprise as the Conservative Party despite the financial crisis still remains firmly in the back pockets of the bankster elite, where any chance of real reform and holding the bankster's to account for bringing the European Economy to its knees is ZERO under Conservatives and as I have seen with Labour ALSO ZERO as the Labour high command seek to embarrassingly ingratiate themselves with the bankster and corporate elite as witnessed in the recent Dispatches documentary programme on Labour Ministers selling themselves to Lobbyists for between £3000 to £5000 per day.

By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-10 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on UK inflation, economy, interest rates and the housing market and he is the author of the NEW Inflation Mega-Trend ebook that can be downloaded for Free. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 500 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

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