How would Labour pay for their propoals?
The Institute for Fiscal Studies has clearly shown that Labour's sums do not add up and they would have great difficulty paying for their election promises with the fundraising measures they admit to.
The IFS says Labour would have to raise taxes to their highest ever peacetime level to fund their programme and that it is not just the rich who would be hit.
But Labour do admit to some plans to raise tax and Conservative Party Chairman Sir Patrick McLoughlin writes about one of the proposals buried deep in the small print of the Labour manifesto here ...
"When I knock on doors out on the campaign trail people often ask me how on earth Jeremy Corbyn is going to pay for all of his promises.
Well - now we know.
Buried on page 86 of Jeremy Corbyn’s manifesto is a secret Property and Garden Tax.
It’s backed by the Liberal Democrats and it will cost the average homeowner in England up to £3,837 in higher council tax bills – and everyone needs to know about it.
Share this graphic now on Facebook and Twitter to stop Jeremy Corbyn hitting working families.
The choice at this election is clear: a Government led by Theresa May that will keep taxes low for working families, or a coalition of chaos with Jeremy Corbyn that will lead to higher taxes, fewer jobs, more waste and more debt.
Share this graphic now on Facebook and Twitter and help get the message out.
Thank you for your support,
Patrick McLoughlin
Chairman of the Conservative Party"
The IFS says Labour would have to raise taxes to their highest ever peacetime level to fund their programme and that it is not just the rich who would be hit.
But Labour do admit to some plans to raise tax and Conservative Party Chairman Sir Patrick McLoughlin writes about one of the proposals buried deep in the small print of the Labour manifesto here ...
Well - now we know.
Buried on page 86 of Jeremy Corbyn’s manifesto is a secret Property and Garden Tax.
It’s backed by the Liberal Democrats and it will cost the average homeowner in England up to £3,837 in higher council tax bills – and everyone needs to know about it.
Share this graphic now on Facebook and Twitter to stop Jeremy Corbyn hitting working families.
Don’t let Corbyn get away with it.
Patrick McLoughlin
Chairman of the Conservative Party"
Promoted by Alan Mabbutt on behalf of the Conservative Party, both at 4 Matthew Parker Street, London, SW1H 9HQ
Comments
At first i had a gut instictive reaction to an LVT, but as I looked more into it I warmed to it, as i say as a replacement to income tax
The Labour idea is terrible for the reasons you have given above, that was my only point really.
to me i think of my house as the place I live, I think of my mortgage payments as "Paying my rent" so, the idea being that when i am old and wrinkly (which is not far off) then I will have paid off my mortgate and can live "rent free"
The mentality that a home should earn me money, and its price should constantly rise above inflation is unsustainable. And for me to profit imensly because facilitys like a new railway station on a high speed rail line have been built just down the road at taxpayer expense is not really a good thing.
So I can see your point that an LVT which was offset by cuts in income tax (unlike the Labour proposal) might have some merit, as long as you were careful to do it in a way which didn't crucify anyone (it would be necessary to carefully examine the effects on pensioners, for instance.)
So I just cant see why members of Her Magestys government have such problems doing that when it comes to taxation