Posts under ‘Taxation’

Osborne’s decadent budget

by Phil Burton-Cartledge.

Let’s scotch a myth that’s been multiplying like typhus in news about the so-called emergency budget. George Osborne is no “political genius”. Take a look at the measures he’s outlined. All of them are imprinted with his partisan political economics designed as traps for the Labour Party. The cut on corporation tax – any attempt to […]

Scandal of 100,000k properties covering 1/2m acres owned in tax havens

by Michael Meacher.

The Eye has done a remarkable service in exposing the magnitude of offshore ownership of the UK’s historic country houses and of the huge swathes of the British countryside that they control. Using FOI applications and extensive analysis of other data, it has found that since 1999 titles to no less than 97,500 properties covering […]

Try as he may, Osborne cannot “eliminate the deficit”

by Ann Pettifor.

The Fabian Society invited Nicola Smith of the TUC, Dan Corry – once a Labour government adviser – and me to address their Summer Conference ten days ago. The theme: how can Labour restore its economic credibility with the electorate? The audience was large – about 300 earnest, well-informed and assertive Fabians. The discussion was […]

However silly no-tax-increases are, they should cut tax reliefs to pay off deficit

by Michael Meacher.

Enforcing £12bn welfare cuts (and a lot more beyond that if the deficit is really to be eliminated) is draconian and callous as a means of making the poor subsidise the rich so that the latter can walk away free of any liability, but no-tax-increases in this Parliament doesn’t end the matter. It doesn’t preclude […]

Did New Labour spend too much?

by Michael Burke.

It is not sufficient for big business to have secured an election victory and an overall Parliamentary majority for the Tory Party. It is also necessary to intervene in the Labour Party to ensure that its leadership also conforms to big business interests too. This currently takes the form of candidates in the leadership contest […]

If Osborne cuts £30bn as promised, he can’t achieve his deficit reduction targets

by Michael Meacher.

Osborne is now mooting an emergency budget within the next few weeks to lay the foundations for the £30bn fiscal consolidation (aka cuts) to be announced in the autumn spending review. It is made up of £12bn welfare cuts, £13bn reductions in departmental expenditure (aka cuts in public services), and £5bn in tax avoidance measures. […]

Why doesn’t Labour lambast the Tories on their weakest point – the economy?

by Michael Meacher.

It is strange that Labour hasn’t launched a full frontal attack on the Tory handling of the economy over the last 5 years, because it’s been deplorable. The only points the Tories make in defence of their own management are growth and jobs. But look at the record. Osborne’s bizarre idea that contracting the economy […]

Big four banks (with 1,629 subsidiaries in tax havens) are rotten heart of UK economy

by Michael Meacher.

The more that comes to light about the nefarious activities of the Big four banks, the more extraordinary it is that these banks (a) demand a return to business as usual (which of course caused the financial crash in the first place), (b) continue to fight back against any reforms of a dysfunctional finance sector, feeble […]

Osborne’s budget giveaway for pensioners: never have so many lambs been so ripe for fleecing

by Michael Meacher.

We are now being presented with yet another almost unbelievable example of how ruthless the Tories are prepared to be in their own interest at the expense of the gullible and vulnerable. Already last year Osborne ruled that 320,000 savers a year with ‘defined contribution’ pensions would no longer have to buy an annuity – […]

Osborne’s budget message: government of the rich, by the rich, for the rich

by Michael Meacher.

Osborne’s shamelessness knows no bounds. Having generated the most polarised society in class terms since the Edwardian era, he has the gall now to be focusing Tory electoral appeal on a brazen tax giveaway confined to the extremely rich. It’s an outrage that with only 50 days to the election he’s now giving notice that, […]

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