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Today Chancellor Rachel Reeves shared her Spending Review setting out the government’s departmental spending plans for the next three years.
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Today wasn’t (to use the proper Westminster jargon) a ‘fiscal event’. It didn’t change any taxes, that chance will come later this year in the Autumn Budget, but in cutting up the public spending pie, today’s spending review is a sign of where this government’s priorities lie - and where they don’t.
👈 Many thanks to Green New Deal Rising and photographer Milo Chandler for capturing these shots! |
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The recent u-turn on pensioner’s winter fuel payments was very welcome but there are still horrific cuts coming down the pipeline. Cuts to international aid, disability benefits and by keeping the two-child benefit cap, which will push a quarter of a million more people, including 50,000 children in the UK, into poverty. [1]
But it doesn’t have to be this way. Spending cuts are a choice. And right now, this government is choosing to protect extreme wealth at the cost of people’s lives.
That’s why we joined Green New Deal Rising, Tax Justice UK, The Equality Trust, and dozens more civil society organisations and campaign groups today to amplify our voices and send a message to the Chancellor: it’s time to make different choices - now you can join too John.
Hit the button below to add your name. It only takes 60 seconds: |
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A tax on banks isn’t a silver bullet, John. We need to rewrite the fiscal rules and redo the monetary policy framework to ramp up public investment in our hospitals and schools at the very least …but it’s a start.
A start that would prove this government isn’t in the pocket of big donors and corporate lobbyists and signal the kind of change they promised to deliver.
The figures make sense. A windfall tax on big bank profits could bring in almost £15 billion - nearly *three times* more than slashing disability benefits. [3]
But we need more than figures to convince the Chancellor, we need to get louder and keep building momentum for wealth taxes. We’ve got until this year’s Autumn Budget to do it and every extra name makes a difference.
The big banks have got deep pockets and an army of highly-paid lobbyists. They already tried to push Rachel Reeves into slashing the cap on cash-free ISAs this year - but we pushed back. [4] And we can do it again.
Join nearly 6,500 other names and add your digital signature today! |
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Because change only happens when we stand and fight for it together.
Hannah Head of Campaigns, Positive Money |
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P.S. We’re also building a pot of funds to focus on making a tax on banks a reality in this year’s Autumn Budget - please will you chip in here?
Notes: [2] The Office of Sarah and Gordon Brown: The Child Poverty Emergency Press Release The Canary: New research shows HALF of the UK experiences financial insecurity [3] Positive Money: Windfall tax on bank profits could raise £15bn |
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