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Economic update – January 2011
TweetReal GDP in the UK increased by 0.7 per cent in the third quarter of 2010, down from 1.1 per cent growth in the previous quarter. Meanwhile, the surge in employment that occurred over the summer...
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Osborne’s financial pain begins as VAT hike hits
TweetSix months after George Osborne’s Budget announced that VAT would increase from 17.5 per cent to 20 per cent, raising more than £12 billion and accounting for over three quarters of the Budget’s...
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How long can the Lib Dems claim their tax policy helps the poorest?
TweetBy Tim Horton and Howard Reed In her comment piece in today’s Times, Rachel Sylvester seems to have swallowed a bucket-load of Lib Dem spin. The article is behind the Times paywall (£), but the...
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Balls: “Osborne’s got two weeks to come up with a plan B”
TweetEd Balls has warned that George Osborne may be “making the same mistakes” as Thatcher “all over again”, and that he’s got just two weeks “to come up with a plan B for the Budget… don’t hold your...
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Tax credit cuts mean working families are worse off
TweetToday is the start of a new tax year, and there has been much discussion about whether the changes it holds in store will make households better or worse off. While the Treasury’s headline is that...
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What role do we want VAT to pay in our tax system?
TweetJames Plunkett is the secretary to the Resolution Foundation’s Commission on Living Standards There’s been a fair bit of discussion recently about the proper role and appropriate level of VAT....
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Memo to Vince Cable: lack of credit demand, not supply holds back UK economy
TweetTalking about the risk of a double-dip in the UK economy, Vince Cable argued in yesterday’s Sunday Times that the top economic priority now is making banks lend again. His prescription is based on...
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Livingstone starts the mayoral race on policy, not personality
TweetKen Livingstone outlined the key policies for his campaign to be Mayor of London at the Labour party conference yesterday. Introducing the candidate, shadow Olympics minister Tessa Jowell gave a...
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Irish budget day 2 – opposition attacks “socially regressive” VAT increases
TweetAs the Welsh government finally saw its budget passed, in Ireland, the opposition Fianna Fail party has dubbed as “socially regressive” the budget measures announced by the Fianna Gail/Labour...
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Sorry Boris, but the poor carry the greatest tax burden
TweetBoris Johnson has a piece in today’s Telegraph in which he claims that we should be ‘humbly thanking the super-rich, not bashing them’. “the latest data suggest that we should be offering them...
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Coalition deficit reduction has made UK tax base more regressive
TweetThe coalition’s deficit reduction plan has increased the overall tax burden on the poor, says new study The tax system in Britain has become increasingly regressive since the financial crisis as a...
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Tories refuse to rule out VAT increase
TweetAs well as hitting the poorest through a freeze on working-age benefits, the Tories may be planning to hit them again with a VAT hike Just 24 hours after making a conference speech in which he...
View ArticleWhy the Tories really could put up VAT – and why it matters
Labour has launched a new poster campaign warning that a Conservative government could put up VAT. I’ve not actually heard the Tories say they will put up VAT but, as was recently reported by Left...
View ArticleHere’s why ordinary people aren’t feeling the economic recovery
As political parties spar for our votes, there are recurring questions about why ordinary people are not benefiting from economic recovery. The answer is provided by the latest government statistics...
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Ruling out a VAT rise is only news if you’re a Tory
When is a party pledge on VAT rates newsworthy and when is it not? It seems for some newspapers, that’s an easy question to answer: it depends on which party. The Tory papers ran big stories today...
View ArticlePlease don’t let Nigel Farage be the only one who stands up to the tampon tax
UKIP announced yesterday that it wants to scrap the VAT on tampons. Currently, women’s sanitary products are classed as ‘non-essential luxury items’ by the Treasury, meaning they are taxed at five...
View ArticleCameron tax law could cause ‘monumental damage’ says bank
Prime minister David Cameron’s pledge to enshrine in law a promise not to raise income tax, VAT or National Insurance in the next parliament risks doing “munumental damage” to the British economy in...
View Article5 things you didn’t know about Uber
Taxi-hailing app Uber has been taken to the High Court by Transport for London (TfL) to determine whether it is lawful. TfL has also announced a public consultation on better regulating the service,...
View ArticleBrexit is not ‘democracy’ when Theresa May can pick and choose
When debating the EU referendum result, Leave voters will often defend the process – one of big lies and bigger promises – as an exercise in democracy. But as the Prime Minister appears to edge away...
View ArticleNHS staff strike against plans to outsource low-paid workers to arms-length...
NHS workers are on strike today over outsourcing, after a Greater Manchester Trust looks set to move nearly 1,000 staff to a private company. Staff working at three hospitals in the Greater Manchester...
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