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Cost of the end of austerity. £19bn apparently

Hammond 'would need £19bn a year to meet May's end of cuts vow'

https://www.theguardian.com/business/2018/oct/16/hammond-would-need-19bn-a-year-to-meet-mays-end-of-cuts-vow-budget-ifs

Pittance then. Given it was a vow, guess it will have to happen. Where will it come from though. Tax changes, borrowing, growth...?
Reply 1
Yeah a pittance, £300 from every person in the UK will do it.

4% on VAT would just about cover it.
Original post by Quady
Yeah a pittance, £300 from every person in the UK will do it.

4% on VAT would just about cover it.

No thank you. VAT at 20% is too high as it is.
Reply 3
Original post by Tempest II
No thank you. VAT at 20% is too high as it is.

Ok....

Cut the personal allowance by £3k then.
Original post by Quady
Ok....

Cut the personal allowance by £3k then.


No, if anything those working full time on minimum wage shouldn't have to pay any income tax. One of the achievements of the Tories since 2010 has been to lift more workers out of tax.

How about the UK Foreign Aid budget gets cut and if taxes need to be raised then target the upper tax brackets not the lower ones.
Reply 5
Original post by Tempest II
No, if anything those working full time on minimum wage shouldn't have to pay any income tax. One of the achievements of the Tories since 2010 has been to lift more workers out of tax.

How about the UK Foreign Aid budget gets cut and if taxes need to be raised then target the upper tax brackets not the lower ones.

Cutting is austerity?

Why the upper ones? They were the ones hit during austerity. Removal of the personal allowance, the cut of the higher rate band and the introduction of the top rate band... then of course the NI rate doubling after the upper earnings threshold.
Original post by Tom.Davies
Hammond 'would need £19bn a year to meet May's end of cuts vow'

https://www.theguardian.com/business/2018/oct/16/hammond-would-need-19bn-a-year-to-meet-mays-end-of-cuts-vow-budget-ifs

Pittance then. Given it was a vow, guess it will have to happen. Where will it come from though. Tax changes, borrowing, growth...?


He needs to find 0 pounds the woman said if we get a good deal with the EU.

So that’s IF and next years budget not this year

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