It makes sense that they won’t commit to anything yet. They would just be opening themselves up to attack from the tory press unnecessarily. (Though I feel it would be better to not rule anything out)
But it is crazy that the country is likely again facing debilitating austerity.
Nobody seems to be keen on taxing the wealthy these days.
With the cost of living crisis I’d have thought it would be a vote winner, but apparently none of the main parties agree.
It’s a strange one.
I’m a bit confused because according to the calculators I’ve used the wealthiest will be worse off next year (as will those earning least) it’s only really the middle class that benefits from the NI cut
Reading the article I couldn’t see what they define as the wealthiest people I think they reached that conclusion based on labours response to the budget.
Some key parts of the article I feel
>Mr Hunt has announced that he will not hold a spending review, detailing the exact funding of every Whitehall department beyond 2025, before the general election.
>That means that if Labour takes power, Ms Reeves as chancellor would have just months or even weeks to put together a spending plan based on the existing overall funding envelope
The Tories believe they will get voted out so are making things as difficult as possible for the next government
Labour can’t really make a budget without knowing how bad things really are, anything they say now would be used against them in the future when they know the full story
>options for filling the fiscal hole without raising borrowing could include increasing levies on firms which create pollution or damage public health, or reforming business tax allowances.
I would support all these
Then of course there will be the scrapping of the non dom tax dodge and the increased taxing of the oil and gas industry, both good things, both will be taxes on the wealthy
Sorry guys, Rachel said the credit card is maxed out
The fact she worked as an economist before politics, she should be ashamed
But somehow they will magically change when in power.
We have had austerity since 2008 and its been working out great! Nothing needs changed what so ever. Im so glad Labour realise this.
It’s been a very long time since austerity was practiced in the UK. Tax, government spending and the size of the state relative to the rest of the economy have been growing steadily for many years. The pandemic exaggerated it.
One of the many paradoxes and contradictions of Tory rule. Claim to want lower migration, a smaller state, lower taxes, less government intervention etc and then do the opposite on all fronts.
Johnson was a major offender with his ludicrous train set idea – the fastest train in the world in a small and crowded country. We couldn’t just have a decent network with more capacity and modernise our Victorian railway.
The Tories have spent our money like water. What the f did they do with it all? Now the UK has a crippling level of public debt with no evidence of investment in the right things.
One of the bizarre aspects of Hunt’s budget is that it clobbers pensioners. I thought they were the people that might still vote Tory!
7 comments
It makes sense that they won’t commit to anything yet. They would just be opening themselves up to attack from the tory press unnecessarily. (Though I feel it would be better to not rule anything out)
But it is crazy that the country is likely again facing debilitating austerity.
Nobody seems to be keen on taxing the wealthy these days.
With the cost of living crisis I’d have thought it would be a vote winner, but apparently none of the main parties agree.
It’s a strange one.
I’m a bit confused because according to the calculators I’ve used the wealthiest will be worse off next year (as will those earning least) it’s only really the middle class that benefits from the NI cut
Reading the article I couldn’t see what they define as the wealthiest people I think they reached that conclusion based on labours response to the budget.
Some key parts of the article I feel
>Mr Hunt has announced that he will not hold a spending review, detailing the exact funding of every Whitehall department beyond 2025, before the general election.
>That means that if Labour takes power, Ms Reeves as chancellor would have just months or even weeks to put together a spending plan based on the existing overall funding envelope
The Tories believe they will get voted out so are making things as difficult as possible for the next government
Labour can’t really make a budget without knowing how bad things really are, anything they say now would be used against them in the future when they know the full story
>options for filling the fiscal hole without raising borrowing could include increasing levies on firms which create pollution or damage public health, or reforming business tax allowances.
I would support all these
Then of course there will be the scrapping of the non dom tax dodge and the increased taxing of the oil and gas industry, both good things, both will be taxes on the wealthy
Sorry guys, Rachel said the credit card is maxed out
The fact she worked as an economist before politics, she should be ashamed
But somehow they will magically change when in power.
We have had austerity since 2008 and its been working out great! Nothing needs changed what so ever. Im so glad Labour realise this.
It’s been a very long time since austerity was practiced in the UK. Tax, government spending and the size of the state relative to the rest of the economy have been growing steadily for many years. The pandemic exaggerated it.
One of the many paradoxes and contradictions of Tory rule. Claim to want lower migration, a smaller state, lower taxes, less government intervention etc and then do the opposite on all fronts.
Johnson was a major offender with his ludicrous train set idea – the fastest train in the world in a small and crowded country. We couldn’t just have a decent network with more capacity and modernise our Victorian railway.
The Tories have spent our money like water. What the f did they do with it all? Now the UK has a crippling level of public debt with no evidence of investment in the right things.
One of the bizarre aspects of Hunt’s budget is that it clobbers pensioners. I thought they were the people that might still vote Tory!