Tatiana Dementieva
30 Major British businessmen wrote a letter to George Osborne to ask him cut the income tax rate by 10% (down to 40%) and to increase the tax-free personal minimum by £1000,00 up to £9000,00 in 2012.
According to them, such a tax cut will help to attract foreign investors and will support existing businesses and make the UK’s overall economic situation more stable.
Previously, David Cameron and George Osborne suggested cutting the income tax rate down to 40% but the idea was blocked by the Liberal Democrats, who support the idea of introducing an extra tax for the rich.
In the meantime, GBPUSD is in the process of implementing the long-term downward scenario highlighted on Nov 10th 2011. The Department of Masterforex-V Trading System draws your attention to the forming of an upswing - wave B(C ). Once the 1.5868 low is overcome, the price will start a mid-term downswing -wave C(C ). In this case the closest levels of support will be found at 1.5823/06, 1.5767, 1.5718/06 (Fibonacci levels). Once the currency pair starts rallying and creates an upward FZR at 1.6093, it will initiate a long-term upswing – wave A/B – with the closest resistance at 1.6115 (MF pivot).
Tatiana Dementieva
