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About Us & RulesPoor lose, and rich gain from direct tax and benefit changes since May 2010 – without cutting the deficit
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Poor lose, and rich gain from direct tax and benefit changes since May 2010 – without cutting the deficit
by Irn Bru Tue Nov 18, 2014 8:31 am
New analysis from LSE and the University of Essex shows that the poorest groups lost the biggest share of their incomes on average, and those in the bottom half of incomes lost overall, following benefit and direct tax changes since the 2010 election.
The analysis also shows:
The outcome for those in the bottom half of incomes is in contrast to those in the top half of incomes, who gained from direct tax cuts, with the exception of most of the top 5 per cent – although within this 5 percent group those at the very top gained, because of the cut in the top rate of income tax.
In total, the changes have not contributed to cutting the deficit. Rather, the savings from reducing benefits and tax credits have been spent on raising the tax-free income tax allowance.
The analysis challenges the idea that those with incomes in the top tenth have lost as great a share of their incomes as those with the lowest incomes.
http://www.lse.ac.uk/newsAndMedia/news/archives/2014/11/Poorlose_richgain.aspx
Well that's the result of an academic study which suggests that we're not really 'all in this together' as George Osborne keeps telling us.
The analysis also shows:
The outcome for those in the bottom half of incomes is in contrast to those in the top half of incomes, who gained from direct tax cuts, with the exception of most of the top 5 per cent – although within this 5 percent group those at the very top gained, because of the cut in the top rate of income tax.
In total, the changes have not contributed to cutting the deficit. Rather, the savings from reducing benefits and tax credits have been spent on raising the tax-free income tax allowance.
The analysis challenges the idea that those with incomes in the top tenth have lost as great a share of their incomes as those with the lowest incomes.
http://www.lse.ac.uk/newsAndMedia/news/archives/2014/11/Poorlose_richgain.aspx
Well that's the result of an academic study which suggests that we're not really 'all in this together' as George Osborne keeps telling us.
Irn Bru- The Tartan terror. Keeper of the royal sporran. Chief Haggis Hunter
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