Tuesday, 18 March 2014

Forget it?

George Osborne wants us to forget about the Tory tax rises which have contributed to a cost of living crisis.

A few examples:
  • VAT increased – to 20% from 2011
  • Income Tax higher rate threshold cut to £42,475 in 2011-12
  • Higher Income Child Benefit Charge introduced 2013
  • Insurance premium tax increased – from 2011
  • Capital Gains Tax increased – to 28 per cent for higher rate taxpayers from June 2010
  • New Beer Duty introduced on high strength beers from 2011
  • ISA subscription limit uprated in line with CPI rather than RPI from 2012-13
  • Pension tax relief restricted from 2014-15
  • Inheritance Tax threshold frozen in 2015-16
  • National Insurance Contributions ending of contracting-out rebates from 2016-17
The chancellor has failed to balance the books, we don't need more smugness. We need real action on jobs and wages.

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