…For Everything Else Under Labour, There’s Mastercard

Worth highlighting the maths on show today, highlighted to my eyes first in a comment over on Iain Dale’s site, although it’s plain for all to see.

Note One:

  • Cost of scrapping the 10p tax band in April… £700 million
  • Cost of increasing the personal allowance by £600 for basic rate payers in May… £2.7 billion

Note Two:

  • People affected negatively by scrapping the 10p tax band in April… 5.1 million
  • People affected negatively by increasing the personal allowance in May… 1 million
  • People affected positively by increasing the personal allowance in May… 22 million

Tax and Spend the New Labour way: it’s all spend, spend, spend at the moment, and the tax is paid by the lowest income earners.

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