Tuesday, April 21, 2009

Our Supply-Side, Hydrocarbon Lovin' Friends Across the Pond

In jolly ole' England, the Exchequer - that's their Treasury - needs more dough badly, so they are looking to the country's large oil and gas sector, albeit not in the way that you might think. While we here in the colonies look to sap, bleed, milk and generally hamstring our world-class O&G industry in general and especially when we need tax revenue, in the UK they are applying supply-side logic to grow their O&G industry and generate greater tax revenue from a lesser burden on a larger industry. This from the hyper green wankers that roam the halls of the UK's ministries. Amazing.

UPDATE: Holy Cognitive Dissonance Batman! They're slashing tax rates to spur the Oil & Gas industry but raising rates on high-earning individuals, as if the same incentives that apply to companies and industries don't apply to individuals. That is politics for you.


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