So taxes and stamp duty are going to be cut to ensure that we get economic growth...

[cakeorwine]

People with more money get even more money.
They use this money to start businesses, buy things and stimulate demand and growth.
So people at the bottom get more money and more money comes in through taxes.

It's going to be an interesting few years. We have low unemployment and a lot of people who just aren't looking for jobs. We have also made it harder for people to come from abroad and work here.

We are borrowing a LOT of money because of the energy crisis.
Our population is ageing and we are facing a social care crisis.

It's certainly a difference of politics. And not in the Tory manifesto.

Interesting news about how much money we are going to be borrowing over the next few years and how public finances will be affected.

"The combination of higher spending and substantial tax cuts leaves borrowing running at a much higher level than forecast in March. Importantly, even once the energy price guarantee is assumed to have expired in October 2024 our forecast has borrowing running at about £100bn a year, over £60bn a year higher than forecast in March. Almost half of this increase in borrowing would be due to the new tax cuts. At around 3.5% of national income this would be not far off double the 1.9% of national income that it averaged over the 60 years prior to the global financial crisis, when growth prospects were considerably higher. With investment spending running at about 2½% of national income this would leave a persistent forecast current budget deficit of around 1% of national income. Without new tax cuts the current budget would have been forecast to remain in balance …
Allowing debt to rise temporarily to finance one-off packages of support, such as the energy price guarantee or the furlough scheme, in exceptional circumstances is justifiable and can be sustainable, but the same case cannot be made for allowing debt to rise indefinitely in order to enjoy lower taxes now.”

Stamp duty should be reduced, but not for owners of multiple properties.

And still I have no doubt that Tory voters will claim that their party is best for the economy...

They can claim all they like, who’s going to believe them?

@Blossomtoes I am glad you still have hopes of the British electorate. I don't.

I know. I should know better really.

I would like the SDLT cut ... plus increase the higher rate income tax threshold .

We are up to our eyeballs in shit , might as well see some personal benefit out of it all

Ardent labour supporter 😂