Dear chancellor, here’s an idea for you…
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The campaign continues
Our campaign to cancel the corporation tax rise is building up steam. According to the IFS ([link removed]) , Jeremy Hunt now has £56 billion more than planned, having benefited from falling energy prices and higher tax receipts. The TPA is calling on him to do the right thing and use that headroom to boost Britain’s growth!
As our analysis using our dynamic tax model ([link removed]) showed, his plans to hike corporation tax to one of the highest levels in the OECD could hit the UK economy by £30 billion in lost growth and by £11.9 billion in lost investment.
We were out on the airwaves all week making the case. Speaking to Tom Harwood, our digital campaign manager Joe Ventre explained to GB News viewers across the country ([link removed]) : “A corporation tax rise of this scale is going to be a disaster for British business, a disaster for employees and unemployed people, and a disaster for consumers as well.”
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These numbers are damning for a chancellor trying to get our economy back on its feet. Thanks to the Conservative Growth Group, who presented our findings directly to Hunt earlier this week ([link removed]) , the chancellor knows he has an alternative.
As our media campaign manager, Conor Holohan, explained in an important op-ed for CapX ([link removed]) , Hunt used to extol the virtues of cutting corporation tax.
Conor reminds the chancellor ([link removed]) of his words during the 2019 leadership campaign that, while it might not be “a ‘sexy’ tax to cut, it was the most important for getting the economy moving”. Jeremy, we preferred your earlier work…
It’s high time politicians stood by their words, abandoned the short-sighted tax-and-spend mentality, and focused on the longer term effects of tax policy.
If you agree, click here to chip in to our campaign ([link removed]) and help stop this disastrous tax grab!
Bonus bonanza
The latest TPA investigation ([link removed]) has shockingly revealed that Chesterfield borough council managed to dish out £2.5 million in staff bonuses in 2022, the highest amount of any council. This equates to almost £18,000 each!
Our investigations manager, Elliot Keck (along with the rest of the TPA office), was livid at the findings. In a front page splash for the Derbyshire Times, Elliot raged: “While households tighten their belts, council staff have been filling their pockets.”
It beggars belief that Chesterfield council managed to payout almost twice as much on bonuses as the next nearest council, Camden. They must urgently explain and justify these enormous sums.
TaxPayers' Alliance in the news
Whitehall waste
At the start of the week, the Labour party continued their TPA-esque anti-waste campaign releasing a dossier exposing £30 billion of misspent funds. Naturally, as Britain’s Waste Watchdog, our spokesmen were on hand to discuss the findings.
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Speaking to TalkTV’s Julia Hartley-Brewer ([link removed]) , Elliot rightly said: “If you give civil servants more and more money, and you don’t tell them resources are really, really stretched, they’re going to end up wasting a lot of it.”
Ministers must crackdown on wasted money right across government!
A kingly gift
Regular readers will know we at the TPA are no fans of the TV tax. So when the BBC announced they would be suspending the licence fee ([link removed]) for the King’s coronation weekend, Joe was on hand to give his thoughts.
Speaking to the Daily Express ([link removed]) , Joe rightly said that whilst “Brits will be glad they can enjoy coverage of the Coronation without enforcement agents breathing down their necks… It's time for the BBC to catch up with the times and axe the archaic TV tax once and for all.” Hear hear!
Blog of the week
For your own good?
With tobacco taxes due to increase by a record amount in April, smokers face a multitude of restrictions from those that think they know best. In this week’s blog ([link removed]) , I’ve taken a look at the rationale for taxing tobacco in the first place and why driving up the price of a vape is a pretty bad idea.
Sin taxes are nothing new, but why punish those trying to kick the habit? As I’ve written: “The government needs to decide whether its tax regime on nicotine products is there to encourage people to quit or to simply raise revenue.”
Click here to read the blog ([link removed])
War on Waste
Costly corgis
In contrast to the great example ([link removed]) of Fenland district council last week, who have managed to freeze council tax for the last four years and cut it by 2 per cent this year, it seems Broadland council ([link removed]) have a thing or two to learn about safeguarding taxpayers’ money.
Local bosses ([link removed]) managed to fork out £33,000 on seven wicker corgi statues before flogging them off for just £2,000! Town halls must put an end to these ridiculous pet projects.
Please send me your examples of wasteful council spending (mailto:
[email protected]?subject=re.%20Weekly%20bulletin)
Benjamin Elks
Operations Manager
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