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Sustainable Economy > Published by Will Straw, June 23rd 2010 at 6:17 pm

IFS: Budget was “regressive”

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A picture says a thousand words. The respected, independent Institute for Fiscal Studies today said clearly that , “likely … overall impact of yesterday’s measures was regressive”.

By 2014-15, the distributional impact of tax and benefit measures is only “progressive” if the pre-announced decisions made by Labour – including the 50p income tax rate – are included. The IFS are clear that the Treasury’s claims only hold valid, “because of reforms announced by the previous government”. Stripping them out means that George Osborne’s dictum is wrong.

This analysis – consistent with Left Foot Forward’s own yesterday, the Financial Times’ and Nick Pearce on Open Democracy – could not be clearer: taken on its own, it was a regressive Budget.

  • http://twitter.com/cjmckeon/status/16863885762 Christopher McKeon

    Of course it was RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • http://twitter.com/bencooper86/status/16864015140 Ben Cooper

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG < hope @chriswiggin has had a look!

  • http://twitter.com/shodanalexm/status/16864101405 Alex Marsh

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • http://twitter.com/duncanstott/status/16864196278 Duncan Stott

    I reckon the IFS is wrong on this http://bit.ly/9CVpcG Why strip out the impact of Labour's budget? That's not what's happening.

  • http://twitter.com/grabcocque/status/16864388709 Martin Coxall

    RT @DuncanStott: I reckon the IFS is wrong on this http://bit.ly/9CVpcG Why strip out the impact of Labour's budget? That's not what's h …

  • http://twitter.com/smallcasserole/status/16864599633 Ian Hopkinson

    RT @DuncanStott: I reckon the IFS is wrong on this http://bit.ly/9CVpcG Why strip out the impact of Labour's budget? That's not what's h …

  • http://twitter.com/hitchineng/status/16865371423 Hitchin England

    IFS: Budget was "regressive" http://bit.ly/9CVpcG via @leftfootfwd

  • http://twitter.com/sarumcassock/status/16865687207 Craig Roters

    IFS say the budget was 'regressive' – absolutely scandalous. #iblamenick 4 propping up #thesameoldtories http://bit.ly/9CVpcG

  • http://twitter.com/paulsimpson1976/status/16865972729 paulsimpson1976

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • Jacquie Martin

    Glad to see in pictures what common sense tells us. Utter disgrace. ConDemnation was never truer.

  • http://twitter.com/janicelrobinson/status/16866657521 Janice Robinson

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • http://www.yorkshirerosered.blogspot.com RoseRed

    Maybe I was in shock or denial yesterday or maybe I just hadn’t read enough analysis but it didn’t feel quite as bad as I expected. This morning reality set in. Surely I am not the only one truly afraid of what this budget could mean.
    http://www.yorkshirerosered@blogspot.com

  • http://twitter.com/andy_s_64/status/16872165233 Andy Sutherland

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • http://twitter.com/jon_w_h/status/16872874595 Jonathan Holt

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • http://bestblogs.labourhome.org/2010/06/23/ifs-budget-was-%e2%80%9cregressive%e2%80%9d/ IFS: Budget was “regressive” « The best Labour blogs

    [...] More… [...]

  • http://twitter.com/sowadally/status/16876429535 Stewart Owadally

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • mike

    Cameron says he must cut public sector pay and pensions to savre public sector jobs

    yet hes cutting at least 500,000 public sector jobs
    and planning to privatise thousands more

    so no safety

    Just where will ex public sector workers secure work ???

    private sector is still losing jobs

    so the dole than

    say goodbye to your teaching assistant

  • http://twitter.com/sky_pendle/status/16878136762 scyppend

    RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/9CVpcG

  • http://twitter.com/mattedgar/status/16879143507 Matt Edgar

    A single chart reminds me why #ivotedlabour http://tinyurl.com/33or75f

  • http://twitter.com/cheapwithus/status/16879713675 cheap

    IFS: Budget was "regressive" | Left Foot Forward: George Osborne claimed it was a progressive Budget. Analysis by … http://bit.ly/bGNf1T

  • Robert

    I’m all for gas chamber for cripples retards and people who cannot read and write, it will produce heating electricity and rid us of the worse of the welfare shits, mind you I will have to be first in line then..

  • http://twitter.com/ghijklmno/status/16914580394 Tom Morgan

    The bastards!! RT @mattedgar http://tinyurl.com/33or75f

  • http://billyblofeld.wordpress.com/2010/06/24/labour-are-officially-bad-for-business/ Labour Are Officially Bad for Business « Billy Blofeld

    [...] Labour Are Officially Bad for Business 24 06 2010 I thought I’d take a leaf out of Left Foot Forwards book and do a bit of “Evidence Based Blogging”. [...]

  • http://billyblofeld.wordpress.com Billy Blofeld

    Here is some contrasting data which shows that Labour’s economic policies were regressive.

  • http://twitter.com/davidlammy/status/16921525496 David Lammy

    this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/jondennis/status/16921582559 Jon Dennis

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/wesstreeting/status/16921590585 Wes Streeting

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/lawyerwatch/status/16921692235 Richard Moorhead

    Pro(re)gressive: sometimes you don't need poems you need pictures http://bit.ly/93rOB2

  • http://twitter.com/politicspoet/status/16921719575 Richard Moorhead

    http://bit.ly/93rOB2 Pro or re-gressive budget: a picture not a poem

  • http://twitter.com/danmaclachlan/status/16921735883 Dan MacLachlan

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/cllrcowley/status/16921765241 James Cowley

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/iankmsmith/status/16922110866 Ian Smith

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/samirashackle/status/16922194357 Samira Shackle

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/neilmatheson/status/16922394928 Neil Matheson

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/bloggerheads/status/16922876739 Tim Ireland

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/cartmaker76/status/16922999546 Michael Appleby

    “@DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT” #iblamenick #sameoldtiries

  • http://twitter.com/tomneumark/status/16923054113 tomneumark
  • http://twitter.com/garydunion/status/16923412094 Gary Dunion

    The IFS show that the Tories' #budget measures *are* regressive. #noshock RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/adamramsay/status/16923841155 AdamRamsay

    IFS show that the Tories' #budget measures *are* regressive #noshock see this chart: http://bit.ly/atIrAT (via @garydunion & @davidlammy)

  • http://twitter.com/jamiewasley/status/16924026655 James Wasley

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • http://twitter.com/vanagib/status/16924785502 Adam James
  • http://twitter.com/yorkierosie/status/16927649404 yorkierosie

    RT @DavidLammy: this chart speaks volumes – http://bit.ly/atIrAT

  • Mr. Sensible

    Jacquie, did you see the TV debate last night on the BBC News Channel?

    I haven’t yet; I recorded it, but from what I heard on the news this IFS report couldn’t be truer.

    And, Mike, at least 725000 according to the Chartered Institute for Personele and Development.

  • Mr. Sensible

    BTW just read Billy’s blog entry.

    What on Earth?

  • http://twitter.com/zwaaaa/status/16935898418 Ali Cummings

    Wow, this is a pretty damning graph about the "progressive" budget. http://bit.ly/cJu4gk

  • http://twitter.com/avivlkatz/status/16942464202 Aviv Katz

    RT @sophiaparker: wouldn't fancy being a lib dem today http://bit.ly/atIrAT great chart from IFS about exactly how 'progressive' budget was

  • http://www.leftfootforward.org/2010/06/progressives-should-unite-for-a-fairer-slower-reduction-plan/ Progressives should unite for a fairer, slower reduction plan | Left Foot Forward

    [...] but fair” and “progressive” have quickly unravelled following analysis by the Institute for Fiscal Studies, Financial Times, and by Tim Horton and Howard Reed on this blog. Despite Nick Clegg’s [...]

  • http://twitter.com/jruddy99/status/16949287029 John Ruddy

    So much for the lib dem claim to have made this better-newsflash it aint RT @leftfootfwd: IFS: Budget was "regressive" http://bit.ly/bGNf1T

  • http://twitter.com/jaymezx/status/16962012065 James Lock

    RT @sarumcassock: IFS say the budget was 'regressive' – absolutely scandalous. #iblamenick 4 propping up #thesameoldtories http://bit.ly/9CVpcG

  • http://www.leftfootforward.org/2010/06/look-left-the-week-in-fast-forward-2/ Look Left – The Week in Fast Forward | Left Foot Forward

    [...] evidence from the Institute of Fiscal Studies forecasts the Budget’s overall impact to be [...]

  • http://www.leftfootforward.org/2010/07/foolish-fraser/ Foolish Fraser? | Left Foot Forward

    [...] IFS themselves produced a graph of what the total tax and benefit changes would mean in 2014-15 (ie the last year that the changes take effect). They clearly show that [...]