Reposted from Tax Research UK – by Richard Murphy
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.