Knives out for George Osborne in Tory backlash

[BrilloPad]

True he went to St Pauls....

Hence the nickname Oik.

[PurpleGorilla]

[darmstadt]

He is a financial genius! Apparently the sugar tax (on soft drinks) will raise 520 million but will actually cost 1 billion to implement. Obviously not the sharpest tool in the box, must be the lack of a state funded education

The cost of the sugar tax has been revealed in documents published by the Office for Budget Responsibility alongside the budget. The extra cost will come from a predicted rise in accrued interest that the government will have to pay on debt that is linked to the rate of inflation.

The new tax will add 24p a litre to soft drinks with the highest sugar content, a cost that could be passed on to shoppers through higher prices, meaning inflation would rise.

The chancellor has predicted the tax will raise £520m in its first year, far less than the cost of introducing the levy.

**** knows how much the court case could cost, if it comes to pass: Drinks makers consider legal action against sugar tax | Business | The Guardian

[AtW]

He is a financial genius! Apparently the sugar tax (on soft drinks) will raise 520 million but will actually cost 1 billion to implement. Obviously not the sharpest tool in the box, must be the lack of a state funded education

I'd call BS on that cost figure, £1 bln, really??? All drink makers have to put sugar contents on each bottle, so that's already known, all they need now is increase sell price accordingly for known products and return money to HMRC. £10 mln cost - maybe, £1 bln - total BS.

Legal action will probably be one of those "human rights" based one, can't see how they'd win, but maybe that £1 bln cost figure refers to cost of lawyers

And yes I think that's a very Gidiotic tax.