Tax credits have just cost you 1p in the pound on income tax

Gordon Brown's tax credit scheme. Mr Prudent showing that, once again, he really does not deserve that nickname. Afterall, it is reported today that he is about to write off £2bn as unrecoverable after payments had been made out incorrectly or fraudulantly. That is equivilant to 1p on income tax. So that brilliant budget you did a couple of months ago, Gordon, where you took 2p off income tax (then abolished the lower rate and increased National Insurance contributions) was not only giving with one hand and taking with the other, it was also a waste of time because you've lost 1p in every pound all ready with this numbskull scheme of yours. It could have been 3p in the pound if your department could do some basic accounting. Ministers have already admitted that £5.8bn has been paid to people who should not have received the money! This is incompetence on an NHS scale and this is the man who will be running the country in little over six weeks.