By Steve Forbes
From a financial planning point of view it is clear the UK’s legislation was created by politicians with little experience outside of Westminster.
Is there a need for the UK’s tax code to be 17,000 pages long (Hong Kong’s is under 300)?
If we think of Government as a business, tax is its revenue.
What business would make it so difficult for their customers to pay them that they required 1000’s of staff to check they were paying the correct amount, and have so many different rules that the customers would also have to employ their own advisers to calculate how much they should pay?
Pensions are another example.
We are continually told that people are not saving enough for their retirement.
Therefore does it make sense for you to require the equivalent of a degree before you can fully understand the legislation?
Compare this to buying an iPad.
Undoubtedly this is an extremely complex piece of kit, but the only instructions you get in the box is a diagram showing the “on” button.