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Showing posts from November, 2019

But Where Will The Money Come From?

"But where will the money come from?" - This is the typical appeal to fiscal responsibility that you hear from people who should but won't vote Labour. Let me show you where that money went, because we had it in the first place: - Corporation tax cuts have cost us £110 billion since 2010 - Latest proposals will see another £12 billion lost - A reduction in the top rate of income tax from 50p to 45p has left an £8.6 billion black hole - Boris wants to raise the higer rate of income from £50,000 to £80,000 which could cost us £8 billion a year! And these are just the cuts I could be bothered to find out about! It results in a gross sum of £138.6 billion. Imagine what we could've done with that! Never mind the tax revenue lost from businesses going into liquidation, people unable to spend or save due to stagnating wages, or business lost from Brexit uncertainty or even leaving the EU etc. But Wait, There's More! Taxation is only but a portion of the