Newspaper article The Evening Standard (London, England)

What We Want from the Chancellor; Cut Corporation Tax": Small Business Owner Paul Green with Wife Helene and, from Left, Children Florence, Edward and Amelia

Newspaper article The Evening Standard (London, England)

What We Want from the Chancellor; Cut Corporation Tax": Small Business Owner Paul Green with Wife Helene and, from Left, Children Florence, Edward and Amelia

Article excerpt

'I'm scared my savings are at risk'


THE GREENS Paul and Helene Green, both 47, and children Amelia, 14, Edward, 11, and Florence, nine.

Jobs: Mr Green is chief executive of and his wife is the company finance director Home: Rent a six-bedroom house in Marden, Kent Status: Married, three children.

Income: [pounds sterling]200,000+ combined.

[pounds sterling]10,300+ per month after tax Monthly outgoings: [pounds sterling]8,850, including [pounds sterling]2,750 rent, [pounds sterling]2,500 school fees, [pounds sterling]850 food and [pounds sterling]330 on petrol..

Mr Green said: "The thing that frightens me is the fact that my savings are at risk.

"I don't have a mortgage, although we might buy soon as property has become so cheap. But I do have a relatively large amount of money in the bank, which has made me nervous recently as I worry it could all be taken away from me. I've had to spread it around a lot.

"I want the Chancellor to announce there's no limit to the level of deposits the Government will guarantee.

"Also, as the owner of a small business, I think the rate of corporation tax should be cut to 10 per cent so companies still have funds to invest and grow during these difficult times and get the country moving again.

"I don't think tax breaks should be targeted at just one group, such as the low earners. They should be spread fairly across the population."

UNEMPLOYED EX-CITY WORKER 'Ease the tax burden on business so I can get a job again'

JON BELINFANTE, 41 Job: Investment banker recently made redundant, looking to return to the City Home: Owns a house in East Finchley Status: Single, no children Income: [pounds sterling]60 a week unemployment benefit plus remains of [pounds sterling]20,000 redundancy pay-off from start of last month. Previously earned a package worth about [pounds sterling]80,000 Monthly outgoings: [pounds sterling]1,500 including [pounds sterling]350 mortgage.

"I've dramatically cut my overheads, going out far less and spending less on food while I look for a new job. I want the Government to stop screwing businesses to the wall with tax. If you eased the tax burden, businesses would survive and grow in the recession and I'd be more likely to get a job again. And the Government would reap the benefits in higher tax revenue.

"I'd rather Darling focused on the supply side to get this country moving again. There's no point throwing money at people when they may just save it. New Labour used to look like it was about freeing up business but now it's just reverted back to the old model of a big state and too much intervention, which doesn't work."

HOMEOWNER 'Review stamp duty to help first-time buyers'

PAUL RABLEN, 28 Job: Corporate banking analyst Home: Owns a two-bedroom flat in Hackney with a friend Status: Single, no children Income: [pounds sterling]40,000 to [pounds sterling]60,000, or [pounds sterling]2,000 to [pounds sterling]3,000 per month after tax and pension Monthly outgoings: [pounds sterling]2,500 including [pounds sterling]750 mortgage, [pounds sterling]200 household bills and [pounds sterling]300 towards savings.

"In some ways I'm cushioned from the credit crunch in that I have a fairly high disposable income, no children and I haven't stretched myself with the mortgage.

"But I'd like the Government to make sure the banking sector is secure so my job is safe. The most important thing is to keep people employed, which will produce more tax.

"I'd like to see stamp duty reviewed to help first-time buyers. We're not too worried about going into negative equity as we bought before the market peaked. In any case, with the entire market depressed the next place either of us buys is likely to have fallen in value as well so we'd only realise a loss if we moved abroad. We bought a house to live in, not to sell speculatively. …

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