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Reference documents
Theft?
posted by Rob on March 25, 2007 12:55 PM
Do you know the tale of the 'thief' who, unbeknownst to the City company he worked for, traded his firm's money on the foreign markets at night? Before the day-shift started he would put his initial stake back where it came from and pocket any winnings. True story. Well, trueish. Kind of. Prob'ly not, actually.
But anyway... each Spring, the government borrows one hour of time from each citizen of the U.K. and then gives it back in the Autumn, having done who knows what with it. Even at minimum wage levels that's, £5.35 x U.K. Population = £324,258,968 and 55p. Plus, it's a Sunday, so that really should be double-time. Call it best part of £650 million. Invest that for six months at 5% and you're talking a little over £16 million. So whoever's behind the British Summertime Scam, by my reckoning, gets sixteen million quid a year for doing nothing. And if anyone complains, it all gets blamed on the farmers.
Comments: 2
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Surely for those people born in Summertime (possibly the larger portion of the population) the government lends the hour for 6 months before reclaiming it. Even if you consider the tax year, the government is lending before reclaiming. Time to get het up about something else? How about a 2p cut in the basic rate of tax paid for by all those people working but earning less than £18,000? - Booksellers for instance.
Posted by: Matthew` on March 26, 2007 03:30 PM
I wonder, will all my attempts at humour be greeted by mention of tax rate changes? I suppose it wouldn't be the worst reception I've had.
Posted by: Rob on March 27, 2007 10:28 PM