First election debate

Well I thought Nick Clegg did very well in the election debate tonight, in fact I think he did much better than Cameron and Brown, but unfortunately I still won’t be voting LibDem.

  1. They want to abolish higher-rate tax relief on pension contributions, thus further disincentivising people to save for retirement and hitting people who are already paying 40% tax and paying more into the tax system than they get out. For Christ’s sake, I’ve just had my P60 and you should see how much tax I’ve paid (it’s more than a lot of people earn in a year!). Yet again it’s the people that pay the most into the system that are getting penalised. Please at least let me claim higher rate relief to claw some of it back.
  2. Raising the personal allowance to £10,000, while a noble gesture, I don’t think will really make that much of a difference.
  3. They want to cancel Trident. They quote a cost of £100bn over 25 years saying we can’t afford it. Hmmm, well that’s "only" £5bn a year, which doesn’t sound too much for a nuclear deterrant. Compare that with how much money is spent on welfare (I think the last figures I saw were around £80bn). So I believe we can afford it and I think it would be stupid for us not to have our own independent nuclear capability. Who knows what Iran and North Korea are going to get up to in the future.
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