Latest post on Left Futures

Bottom 10% lose most from Spending Review

The bottom 10% lose most proportionately from the cuts announced today in the ConDem government spending review, and  the Institute for Fiscal Studies has told Sky News the spending plans are “regressive”. Only if you include the measures introduced by the last Labour Government — such as an increase in the top rate of tax — could it be argued that the richest are going to be hit hardest.

This is clear in the government’s own table reproduced above which shows the combined effect of the spending review and the budget on the net income of the population by income distribution.  The poorest 10% is shown as “1” on the left and the richest 10% as “10” on the right. The green element of the bars shows the reduction in net income resulting from today’s announcement; the black shows tat resulting from the budget.

Comments are closed.

© 2024 Left Futures | Powered by WordPress | theme originated from PrimePress by Ravi Varma