Labour will increase taxes.

£100million tax hike to small firms.

Tax rises of £100million are threatening to drive tens of thousands of small firms out of business, the Tories warned last night.

Ministers have admitted that 100,000 of the smallest companies are likely to be taxed an average of £1,000 extra each over the next three years.
The Government's own estimates suggest that one in 20 firms will go out of business while trying to pay.

The figures emerged in the footnotes to legislation quietly laid before Parliament without debate.

They suggest that the Government's decision to end relief on business rates will see small companies have to pay £40million more this year, £30million more in 2010-11, and £30million more in 2011-12.

So there you go, in order to pay for their grandious plans for wasting money on dictators abroad, public sector non jobs they will bankrupt the whole business sector of the economy.

An despite all the taxes wasted, our national debt continues to soar and soar as Labour refuse to make cuts in the bloated public sector. Gordon realises that if he makes cuts now it will cost him the election. Instead the coward will slash the public sector after many of them have voted for him in the forthcoming election.

The public finances are spiralling into chaos as the Treasury borrows almost £260million a day.

The gap between tax receipts and government spending reached an extraordinary £8billion in July - a month in which the Government normally generates big surpluses.

A near-40 per cent crash in corporation tax receipts was the main reason for the record shortfall, along with a collapse in VAT revenue.

The figures mean Chancellor Alistair Darling is on course to breach his full-year borrowing forecasts by at least £20billion, City estimates showed.

The figures, published by the Office for National Statistics, make draconian tax increases and spending cuts even more likely after the next election.

Britain is forecast to accumulate the biggest budget shortfall of any member of the 30-strong Organisation for Economic Cooperation and Development next year.

Recovery will only start when the public realise that voting for Gordon will cost them their job and give Cyclops a P45.

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