Farage’s numbers don’t add up
Stuart Adam, a senior economist at Institute for Fiscal Studies think tank, said increasing the annual income tax allowance to £20,000 could cost between £50bn and £80bn a year, depending on the details.
“As it stands, I don’t think they’ve really set out how they would pay for such big giveaways,” he said.
“Of course they don’t have to do that yet – we’re not at a general election. But at some point, if they’re going to be a party of government, they would have to make those numbers add up.”
Stuart Adam (on Reform’s fantasy tax cuts) via BBC
#failedToDoHomework #fantasyEconomics #InstituteForFiscalStudies #NigelFarage #StuartAdam #TheySaidThat_
Wealth taxes could raise £10bn to help plug Tory budget hole, say economists | Tax and spending | The Guardian
https://www.theguardian.com/politics/article/2024/jul/28/wealth-taxes-britain-10bn-tory-budget-hole-economists
#WealthTax
#Tories
#Labour
#Budget
#BudgetHole
#InheritanceTax
#CapitalGainsTax
#ResolutionFoundation
#InstituteForFiscalStudies
Starmer saying there's no money is a capitalist lie
https://www.thecanary.co/uk/analysis/2024/05/24/starmer-no-money/
#Starmer
#Lies
#Capitalism
#UTurns
#Nationalisation
#TuitionFees
#PublicServices
#Thatcher
#Privatisation
#UKGov
#FiatCurrency
#DividendPayouts
#Shareholders
#InstituteForFiscalStudies
#NationalInsurance cut to kick in but more pay #tax - BBC News -
Combining the impact of the thresholds freezes and the NI cuts, independent think tank the #InstituteForFiscalStudies (#IFS) estimates that for every £1 given back to workers (including the self-employed) this year by the NI cuts, £1.30 will have been taken away due to the threshold changes between 2021 and 2024, with this rising to £1.90 in 2027.
https://www.bbc.co.uk/news/business-68722934
#ToryPoliciesInAction #TakeFromPoorGiveToRich