Rapid TPA analysis found that existing tax rises – those announced before the spring statement – will more than wipe out yesterday’s tax cuts.
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Dear supporter,
You’ve probably seen the headlines following the chancellor’s spring statement. Some of the measures were welcome – a decent cut in national insurance, a fuel duty reduction and 1p off the basic rate of income tax in a few years’ time.
So far, so good.
But, unfortunately, the Treasury is taking with one hand to give with the other.
Rapid TPA analysis found that existing tax rises – those announced before the spring statement – will more than wipe out yesterday’s tax cuts.
Those changes could see the average worker lose £679 by 2025-26.
It puts the £330 saving from national insurance that the chancellor mentioned yesterday into perspective…
We needed to hear more about tackling spending yesterday.
We must have a proper approach to rooting out wasteful spending and getting better value for taxpayers’ money. That will mean we don’t have to play painful games with taxes to cover the cost of covid.
We’re spending more than £1 trillion a year. We cannot stand by and watch as so much money is poured down the drain.They will just continue to come back to taxpayers and demand even more…
If you agree, then please consider supporting us today. We need to make sure we’re in the best shape possible for the campaigns ahead and we can’t do it without you.
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Thank you for your help.
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