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So all these tax cuts promised by tory leadership candidates......

2 replies

Tegelflughafen · 13/07/2022 17:33

Most of them are reverting back to thatcherite ideology - small state, low tax.
How will that effect public services ? Surely lower tax receipts = less public money
to spend = austerity (if there's anything less to cut).
Or ordinary people have more disposable income so the economy grows and bigger tax receipts...
Which is it ? I live in the NW in a fairly deprived area, services already slashed to the bone. Dread to think what else could be cut. Brexit voting, new tory mps but traditionally economically left wing, low wages, poor opportunities, considerable socioeconomic deprivation and dependence on benefits even if working. No signs of levelling up. How will low tax help my area ? How on earth will this keep the former red wall on board with the tories ? Surely it's an own goal ?

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SnowyLamb · 13/07/2022 17:39

Taxation increased under Thatcher, while she was managing the recession. She cut some taxes c. 1988 once were were coming out the other other side, but overall taxation was higher when she finished than when she began.

It really bothers me that all the candidates, except maybe Sunak, are just throwing out "policies" they think will get the elected, without any thought at all. Reality is they probably can't deliver anyway, but it's a terrifying prospect if they try.

Plus "tax cuts" largely means corporation tax, the headlines ares leading people to think they plan more money in people's pocket, but they don't.

Tegelflughafen · 13/07/2022 17:45

Agreed. I've not seen levelling up mentioned at all. I wonder if it's quietly been ditched and the focus back on keeping true blue seats in the south which are at risk of turning lib dem. Truly worrying times.

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