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show me the money

May 5, 2009

wdkfalistairdarlingbudget

Today’s topic is about tax. That’s right. Taxes, to be more precise – income tax. We don’t just poke fun at footballers here, we’re in tuned to the world of economics too.

Chancellor Alistair Darling recently promised to soak Britain’s rich with tax rises, and that’s including a hefty rise in income tax. Earners of more than £150,000 a year will be hit with a 50% tax to counter Britain’s disastrous economy. This could prove to be the start of the end of the Premier League domination in Europe, as players think tax changes mean they’re losing out they would go elsewhere where there’s less income tax.

It would most likely halt the influx of foreign players into the Premier League, the fact is that these new tax laws will seriously dent the pulling power of the Premier League. It also makes it much cheaper for clubs in other countries to attract the top players away from the Premier League. English star footballers might seek employment in foreign lands. In the long run, I guess more and more young home-grown talent would get more exposure in the Premier League. Somehow I don’t see the plus side of that for the Premier League.

Another potential problem is if a player thinks he’s losing out, he’ll ask for more. Sky-rocketing the already sky-rocket wages of the top footballers. Which will lead to an increase in other things such as ticket prices and merchandises, and more recently common especially in the lower leagues – bankruptcy and receivership.

Here’s a little fact about the Chancellor, he’s currently earning just under £148,000 a year. A few gaubles short of the wage cap. Sneaky basted. And I bet he’s a Real Madrid fan.

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