Comments on: Tory business tax cuts threaten public services and poorest

By: Politics Summary: Tuesday, November 24th | Left Foot Forward

Politics Summary: Tuesday, November 24th | Left Foot Forward — Tue, 24 Nov 2009 09:01:22 +0000

[...] over plans to tackle Britain’s budget deficit” at a CBI conference. Cameron announced £5 billion of business tax cuts to be “paid for by scrapping complex reliefs and allowance”. The Mirror reports that [...]

By: Bob

Bob — Mon, 23 Nov 2009 23:58:26 +0000

Depressing. Of course, many big corporations already avoid paying corporation tax through the various tax havens and loopholes. Somehow doubt Cameron intends to do anything about that, either.

By: Roger

Roger — Mon, 23 Nov 2009 14:55:11 +0000

The way in which these tax cuts can be funded will indeed not be more reductions in public spending – in fact I rather doubt whether the Tories will be able to fully implement even the cuts they have already promised – but huge increases in indirect taxes of the order of a 20% or higher basic VAT rate and the end of zero rating on food books etc.

A deliberately engineered crash of the pound (as created in the early 80s and early 90s) will also make imports much more expensive and thus greatly boost the VAT yield.

This would only be ‘Scandinavian’ if we started off from the relatively much greater level of income equality Sweden etc have – as we don’t it will just mean the poor disproportionately paying the costs of the recession.

By: Henry

Henry — Mon, 23 Nov 2009 12:43:02 +0000

In 1979, the Tories increased VAT…after spending the election campaign denying they would & complaining about ‘Labour Lies’.

By: Martin Johnston

Martin Johnston — Mon, 23 Nov 2009 12:28:37 +0000

RT @leftfootfwd: Tory business tax cuts threaten public services and poorest http://bit.ly/5bvd3X

By: SSP Campsie

SSP Campsie — Mon, 23 Nov 2009 12:27:29 +0000

RT @leftfootfwd Tory business tax cuts threaten public services and poorest http://bit.ly/5bvd3X

By: brightonhovelabour

brightonhovelabour — Mon, 23 Nov 2009 12:02:05 +0000

RT @leftfootfwd: Tory business tax cuts threaten public services and poorest http://bit.ly/5bvd3X

By: Tim Worstall

Tim Worstall — Mon, 23 Nov 2009 11:30:54 +0000

Hmm….looks like the Tories are taking another policy from those bastions of social democracy, the Nordics. Higher taxation on consumption and lower on business and production.

Would be interesting to see you explain why Sweden (just as an example) has its tax policy so grievously wrong by your standards.

By: Mags

Mags — Mon, 23 Nov 2009 11:13:28 +0000

RT @wdjstraw: £5 billion cost of Tory business tax cut policy – will poorest or public services face the cost? http://bit.ly/5bvd3X

By: Labour 4 a 4th Term

Labour 4 a 4th Term — Mon, 23 Nov 2009 11:09:40 +0000

RT @tchee: RT @leftfootfwd: Tory business tax cuts threaten public services and poorest http://bit.ly/5bvd3X