Another tory BIG FAT LIE!

Reposted from Tax Research UK – by Richard Murphy

£3,028 tax claim does not add up

According to the FT:

Mr Cameron will use his Downing Street press conference to claim that Labour would put up taxes by £3,028 for every working household — a calculation based on a 50:50 split between higher taxes and spending cuts to eliminate a £30bn structural deficit in the next parliament.

I admit I cannot see any logic to this claim.

There are about 65 million people in the UK and about 31 million income tax payers. The average household has, according to the ONS, 2.3 members. So there are about 28.3 million households.

Between them these households have to pay in tax £15 billion extra according to the Conservatives. That is, if that need is correctly stated (which I dispute), £530 a household.

Even over five years it does not come to £3,028 a household.

This claim looks to be very straightforwardly wrong.

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2 Responses to Another tory BIG FAT LIE!

  1. sdbast says:

    Reblogged this on sdbast.

    Like

  2. Florence says:

    Perhaps they have “over emphasised” this tax bill. More likely it will be a version of what has happened in the past whenthey have included all sorts of stupid stuff especially stuff not in the manifesto (obviously here, because the official manifesto hasn’t been published). It could indicate how much they think for example NI will have to rise to cover what they know about the shortfall, and the conintued reduction in tax & NI if the current trends caused by austerity are continued. So too it may contain what they think additional VAT will bring in – especially if they have accidentally left in their own figures (rumours bout VAT being extended to all products).
    (If your figures are ballpark correct, the £3K looks more like a Tory prediction of many fewer income tax payers. At present I think 1 in 5 are earning below the tax threshold, that could rise enormously if the £12 billion benefits changes are brought in.)
    And so on. I think all we need to see is Cameron, Osborne and Shapps launch this rubbish for it to be spotted as another set of Tory lies and to sink like a stone.

    Liked by 1 person

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