The Labour Party is considering allowing a £15 an hour minimum wage.

For many years I have written that putting up wages, only adds to inflation.

If employers are forced into paying increased wages, that will be passed onto the customer.

Who is the customer? Those who have had that pay rise? They will be paying for each others increase.

When buying, a lot of that will be subject to VAT, therefore that amount goes up.

Your new wage slip would suggest, you perhaps could pay more on rent or buying a home.

So, they go up. You will never, ever win just by paying more.

The problem is that so many people waste their wages. They pay over the odds for items, often they don’t need. They waste food.

Demand the right to go off on expensive holidays. Must have a new, or almost new car. Gadgets they soon get bored of. Instead of saving. I fully admit life, and the cost of living, is hard. It always has been, and no doubt always will be. As for the Conservatives.

They are forever creating incentives to support the house buying market. Why?

Again that only creates inflated prices. Possibly they do it, as VAT is added in almost all aspects of buying and selling a property, plus the stamp duty.

In respect of that, I think stamp duty should be called Value Added Tax, and on all purchases, but at the same rate as any other.

That is for the moment, 20 per cent. Remember when 20 per cent was only meant to be temporary?

Then of course, assuming you have done the right thing and created an asset you wanted to pass onto your family. It is taxed yet again (inheritance tax) or would be better called a death duty. That is an evil tax and should be scrapped.

Instead increase income tax which goes up by the amount you earn, and paid immediately. Not grabbed once you have died.

That is how, to build up and keep a personal fortune. It provides everybody with a goal.

It also means family members who inherit have enough to live on, instead possibly having to turn to the benefit system. Or seeking help in their own old age.

However, as I have already mentioned. I have being pointing this out for more years than I can remember.

Do we elect people who understand simple maths and common sense? Apparently, not.


Address supplied