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To share this visual representation of the figures we are talking about with Liz and Kwasi's 'mini' budget

56 replies

GreenLunchBox · 30/09/2022 10:49

I think we've become desensitised to the thought of a billion pounds because since covid these sorts of numbers have been thrown around with ease. Sunak wrote off £4.3 billion of our money that he handed to covid loan fraudsters, for example, and we just shrugged.

Very important graphic here by Led By Donkeys:
kamikwasi.tax/

OP posts:

Am I being unreasonable?

95 votes. Final results.

POLL
You are being unreasonable
6%
You are NOT being unreasonable
94%
HelloDoggy · 30/09/2022 10:58

Oh my goodness! Just finished scrolling. That is terrifying. I want to take action.

Bloody hell.

andtheweedonkey · 30/09/2022 10:59

Ouch.
Shock

TeaKlaxon · 30/09/2022 11:02

It's horrendous.

£65 billion. £20 billion of it just on higher interest caused by this catastrophe. Even if you buy the argument that tax cuts for the rich is a good use of money, no one can really argue that £20 billion in higher borrowing costs gives any value to anyone.

To put that in context the NHS budget is around £170 billion. The Education budget is about £70 billion. The Housing capital budget is about £9 billion.

Imagine how much impact that money would have on crippled public services.

Beansonbeans · 30/09/2022 11:04

That's incredibly powerful. Will be sharing far as wide

Blossomtoes · 30/09/2022 11:05

TeaKlaxon · 30/09/2022 11:02

It's horrendous.

£65 billion. £20 billion of it just on higher interest caused by this catastrophe. Even if you buy the argument that tax cuts for the rich is a good use of money, no one can really argue that £20 billion in higher borrowing costs gives any value to anyone.

To put that in context the NHS budget is around £170 billion. The Education budget is about £70 billion. The Housing capital budget is about £9 billion.

Imagine how much impact that money would have on crippled public services.

Exactly. Small wonder they’re 33 points behind in the polls.

RiseofTheSourDough · 30/09/2022 11:06

This is a ducking travesty! How can they legally get away with this?

Have I misunderstood? The tax cuts only really benefit the rich (of which there are around 2500 people in the top percent) and Joe Bloggs on less than £15k per year will see pennies?

But we’re all paying for it with higher mortgage and interest rates? Surely not?

There is a petition to call for a snap general election and it will now be debated in parliament . Let’s hope that they take note of public feeling and oust the current shit show .

GreenLunchBox · 30/09/2022 11:07

Well done for scrolling all the way to the end. The shock when they said you're almost at the end and it just kept going 🤯

OP posts:
GreenLunchBox · 30/09/2022 11:08

I know understand why this spooked the markets like that

OP posts:
DoNutSweatTheSmallStuff · 30/09/2022 11:08

Really good graphic, thanks for sharing.
The whole thing is terrifying.

swedex · 30/09/2022 11:08

Absolutely horrific

GreenLunchBox · 30/09/2022 11:09

DoNutSweatTheSmallStuff · 30/09/2022 11:08

Really good graphic, thanks for sharing.
The whole thing is terrifying.

People need to share this widely

OP posts:
clowerina · 30/09/2022 11:10

fuck these utter half witted ideological clowns.

HelloDoggy · 30/09/2022 11:10

GreenLunchBox · 30/09/2022 11:09

People need to share this widely

Agreed. I've tweeted it and I never ever tweet anything from Mumsnet!

NotRightNowNo · 30/09/2022 11:13

It's absolutely galling.

BarbaraofSeville · 30/09/2022 11:14

RiseofTheSourDough · 30/09/2022 11:06

This is a ducking travesty! How can they legally get away with this?

Have I misunderstood? The tax cuts only really benefit the rich (of which there are around 2500 people in the top percent) and Joe Bloggs on less than £15k per year will see pennies?

But we’re all paying for it with higher mortgage and interest rates? Surely not?

There is a petition to call for a snap general election and it will now be debated in parliament . Let’s hope that they take note of public feeling and oust the current shit show .

That's about the size of it. The highest earners see the biggest tax cut while at the same time mortgages are going up and are likely to disproportionately affect lower earners.

Another (simpler) illustration can be seen in this chart of change in family income by decile. I'm not sure about the amounts or the 'family income' bit because the benefit to one very high earner will be more than to two high earners due to the abolition of the 45% rate, but the difference in the bars on the chart is still telling.

To share this visual representation of the figures we are talking about with Liz and Kwasi's 'mini' budget
Shortjanet · 30/09/2022 11:14

Thanks op - that's really eye-opening. I know I'm posting it on a lot of threads (sorry) but if you feel strongly please consider joining tomorrow's protests:
wesayenough.co.uk/oct1/

QuietNeighbour · 30/09/2022 11:20

It’s a disaster that will be ongoing for decades. The impact may never end. I feel utter despair.

ThinkAboutItTomorrow · 30/09/2022 11:30

£65billion shared across the 3.75million Uk income taxpayers averages £1732 each.

So the richest pay £400,000 a year less tax each

PizzaWithCrab · 30/09/2022 11:31

ffs 😬

PizzaWithCrab · 30/09/2022 11:32

So the richest pay £400,000 a year less tax each
Disgusting

DoNutSweatTheSmallStuff · 30/09/2022 13:13

GreenLunchBox · 30/09/2022 11:09

People need to share this widely

I've shared it on social media.

Topgub · 30/09/2022 13:24

But but but.

Everyone can be a higher earner! Everyone could just work harder to make sure they're in the top 1 % too.

Don't blame the rich. Its really not their fault. Leave them alone.

Poor dears.

Wealth inequality is just a figment of our imagination.

Shortjanet · 30/09/2022 13:45

Topgub · 30/09/2022 13:24

But but but.

Everyone can be a higher earner! Everyone could just work harder to make sure they're in the top 1 % too.

Don't blame the rich. Its really not their fault. Leave them alone.

Poor dears.

Wealth inequality is just a figment of our imagination.

Hear hear - let's all be bankers! I'm sure we'll be fine if we all stop doing all the other unnecessary, poorly paid work instead. It's so obvious really.

sst1234 · 30/09/2022 13:51

Not hard to pick out how disingenuous this information. Of £45b tax cuts, the website says, £1b in going to the highest earners. So the test fi going to lower earner. What’s wrong with that.

Not agreeing with a policy is one thing. No need to make stuff up about the Rich getting the majority of the benefit.

Topgub · 30/09/2022 14:01

What's wrong with 1b of tax cuts being given to those who don't need tax cuts?


Mmmmm.

I wonder.

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