Brewster's millions
Well-Known Member
- Joined
- 9 Apr 2012
- Messages
- 3,960
Do you seriously believe that the vast majority of the population won't be paying higher taxes if Labour wants to implement their policies in full? Particularly if they do actually commit to balancing the current budget?Probably the most misleading Sunak claim was that every tax paying household would be paying £2k more when their own figures based on Tory interpretations of Labour policies say that it would be an average of £2k. It’s always been Labour’s position that the vast majority of the population would not pay more tax and any additional burden would be hugely skewed to the richest 1%, non-doms and on companies given unfair tax breaks.
So far they've committed to non-doms, VAT on school fees - the revenue from which is highly uncertain - and a windfall tax which would replace one that's already in operation. If you add all of that up, even on optimistic estimates, your probably talking about less than GBP10bn per annum, and probably a fair bit less. Given that annual tax revenue is now 1 trillion, do you think that a less than 1% increase will suffice?