governed by halfwits elected by idiots

I suppose people think on July 4th our independence of thought is guaranteed as yet another government is voted in by 1 million swing voters who oscillate between the Tories and labour. Some people would describe this aimless wandering as that of a Pellegrina/os on the great Camino of life. Sleepwalking between parties as if there's a choice. The rest of the voting population don't need to think about it as they have put X in the same box religiously since being given the chance to vote.

So that leads us to age. Yes a great vote winner in this campaign is the Labour leader offering 16 year olds the vote. In 5 years time everyone currently aged 11 and above will get a chance to exercise their democratic right. As labour voters historically leave the party after 25 years and move to the right this will give them a small lift but it won't solve the cookie jar problem.

Whenever people have a biscuit tin, there's always someone trying to grab the bourbons.

Or aa the Tories tell you whatever Labour manger to invest in we will divest it as soon as possible, primarily to put pals.

When I studied economics in 1980, the real question we were posed was about our industrial economic sickness. We were given books on it and the answer was that workers and management were always at loggerheads.

That wasn't the real answer but it had been the primary rule of the 70's for passing exams.

The explosion of the 1980's ransacking of the state owned assets was straight out of the french revolution but instead of the aristocratic classes being beheaded it was the state that lost its head. The UK was up for sale to the highest bidder although in most cases it was the sharpest and often lowest bidder. Vast state owned industries were collapsed into piles of cash and corporate fees. A superb piece of theft in plain sight.

From planes, trains and automobiles, to shops, steel and coal. Water, even electricity. If you couldn't see it or touch it you could sense it worse worth something.

Against all of this Scottish water never got privatised. Like Liverpool and it's stance against the Sun, a couple of good civil servants delayed long enough for a change in policy.

So will independence see Scottish water privatised. Ha ha that would be ironic. I hope not but I do hope that there's still a strength in Scotland to see past the many lies and continue to strike a blow for the bloody nose brigade. We are unlikely to ever return to Europe but we have more chance of getting our immigration issues addressed if we have a large independent minded set of MPs. Labour let a lot of people down under Blair as they concentrated their efforts on the 1m floaters rather than the 55m residents. When Labour had that majority they should've passed legislation that would ensure the voting system would reflect society not this mad electoral college type nonsense. I like to think of myself as European and I may end up having to give up and migrate there. I won't be the first or last to leave home and get on my bike but it is sad to be chased out. I've lived on the southside for 58 of my 61 years and all I want is more people to be able to come here and call it home. I'd like more people to come here and care for me too in the coming years, especially as all our people are having to go overseas to pay off their student debt and maybe raise enough cash for a house deposit.

The housing crisis is at all level. When someone on £25k can't buy a house it's mad. I written about the economics of property and commented on Stiglitz thoughts on it. Quite simply taxation needs massive reform and housing needs to be affordable. If housing isn't affordable then the wages pressure is astronomical. This inverted bubble, also called the coat of living crisis is real and requires legislation and taxation.

Really, can you slip a rizla paper between these parties and their attempts to fix it?

camino kids tax

Tax planning for retirement is something many people started years ago and now they walk their first camino paid for by some good planning.

In the UK it's particularly important in the last few years before retirement to put as much savings into your pension put. 

You should not pay 40% tax or 42% in Scotland on any of your income. You should use savings 15 month credit cards of interest-free whatever tactic you need to ensure that you swell this pension pot.

I was proud to pay £500,000 income tax by age 46 but instead of making it to £1m I looked around and only saw tax dodgers.

So I drew the conclusion that self-flagellation was a pointless pursuit especially when it came down to income tax.

If you pay 40% tax on £10,000 of you income ( or in Scotland 42%) then you must put it in a pot and draw down from savings or use a credit card with a long date.

If you put £6000 (£5800) net into the pension it will immediately become £10000.

This is in your pot, a SIPP, as cash. It does not need to be invested. 

When you come to draw it down you get 25% tax free, £2500. The rest of your £10,000, ie £7500, you will pay your normal tax rate on. As you aren't working it won't be 42%>

If that is 20% you will pay only £1500 tax and get £6000 back plus your £2500 so £8500.

So you sacrifice £6000 after tax and you get £8500.

As soon as you start drawing down a pension you can only pay £3000 in a year. If you are working when you start to draw down you would take the tax free element only as your top line tax might still be 42%. I would only recommend this in the last year of you working depending on circumstances. I would absolutely recommend it for anyone who was made redundant late in life and was unlikely to pursue a high paying job.

It's important to know that it is April 6-april 5th tax years that apply not how old you are or calendar years.

Do this for 3 years and you'll have £30,000 in a SIPP or £18000 in an ISA if you choose to pay the tax instead.

Government changes as does legislation this could happen in Scotland or the UK.

Never think an ISA is safe as governments can and often do tax savings.

In the SIPP, all of your 30000 can be drawn down in year one, £7500 would be tax free with £22500 taxed @20% so £4500 tax leaving £18000 plus £7500 =£25500.

Plenty cash for that first CAMINO!!