MoneyWeek issue 382 cover

Drawing profits

2 May 2008 / Issue 382

How to make money from water... PLUS:

• Why it’s time you bought back into uranium

• The classic car gamble that made my fortune

• Brazil’s property is cheap – but should you buy?

Excerpt

Here comes the flood
It is rare for a senior politician to knock around long enough to really reap what he has sowed. Not so Gordon Brown. Pretty much every bad move he has ever made is coming back to haunt him.

Consider the strike at Grangemouth. The obvious villain in the case has been Jim Ratcliffe. But the strike was actually about the closing of the company’s final salary pension scheme to new employees and the increased contributions about to be demanded from current employees. And who made generous pension schemes almost impossible to finance by removing the dividend tax credit from them 11 years ago? Gordon Brown.

Then there is the nonsense about the removal of the 10p tax rate and the mutterings from big companies about following Shire and United Business Media to Ireland in response to our relatively high, very complicated and unstable (who knows what Gordon will do next?) tax system. And who has been in control of that tax system for the last 11 years? Gordon Brown.