'Britain poor-rich gap to widen further'
Sun, 27 Jun 2010 10:12:50 GMT
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Prominent experts in Britain have warned that the coalition government's budget would hit the poor harder than the rich.
Leading experts on tax and spending from the Institute for Fiscal Studies (IFS) have strongly challenged Chancellor of Exchequer, George Osborne's claims that the budget he delivered was "tough but fair".
Robert Chote, the IFS director said that Britain was facing the "longest, deepest, sustained cuts in public spending since the second World War".
He said, "Osborne and deputy premier Clegg have been keen to describe the emergency package as progressive in the sense that the rich will feel more pain than the poor. That is a debatable claim. The budget looks less progressive - indeed somewhat regressive - when you take out the effect of measures that were inherited from the previous government, when you look further into the future than 2012-13, and when you include some other measures that the Treasury has chosen not to model."
The IFS said its estimates show the poorer families will feel the burden in the second half of the parliament when welfare cuts begin to affect and the two-year increase in child tax starts to vanish.
Yvette Cooper, the shadow work and pensions secretary, affirmed the IFS estimates noting that " George Osborne's budget was a typical Tory budget - unfair and hitting those on lower incomes hardest".
The IFS said the richest 10% would be 7.5% worse off by 2014-15 as part of the coalition government's measures and the poorest 10% would see their income slashed over the next five years.
The IFS director noted that the looming cuts to public services will likely hit pooper households more significantly harder than richer households.
I am not surprised
ReplyDeleteYou may not like me for say this, but its the truth-
ReplyDeleteOne mans pain is another mans gain and we nust take advantage of it now.
During the last recession, it was a daily accurance for me to go out and purchace a vehicle for £3000 and sell it back on the following week for £8000. In fact it was great, I was fast becoming rich at just 23 years old.
many may think that this is a bad thing, but I would disagree. it helps people learn to put their house in order. Live to your means.this will happen once again as it always has and I will be there waiting for that opportunity.
During the labour years, I have seen margins squeezed to death, legislation pass again and again, to stop the small businessman and make it impossible to live any better for our hard work.
Fuck the scabs and lazy bsts who wanted equal standards, they really wanted to live off hard peoples backs, that has brought opression and communism that has lead to the place where we are today.
thank you so much for the scroungers labour commie scum movement, it has all made us better people. HASNT IT !!!
'progressive'
ReplyDeleteAh the latest NWO term for global corporate fascist social engineering, disguised as marxist.
Lee they will hit the poor first as the poor are defenseless, they will use the poor as the scapegoat, all the while they have plans for the rich and middleclass, these will be snuck in through the back door and will come a little later.
ReplyDeleteHow else will the NWO be able to rob and enslave them, we must inore the top 5% most of these are in the pocket of the NWO corporates, it is the rest we need to focus on, and the gapo will close, if you focus on the top 5% it will distort the figures and disgise the real plan
extant you are confusing marxism for a liberating of opportunity to end the rich poor divide, seems you are looking for a scapegoat and not the solution.
ReplyDeleteno one is proposing maxism, nationalism is not the same, labour were not marxists either, it was alll social marxism, they were corporatists, the same as the tories, the middle class and small business is about to be crushed, and it will have nothing to do with marxism and everything to to with corporate slavery in a fascist system.
marxism is a phantom it does not really exist other than as a propaganda tool, a brand for corporate fascism.
within 3 tyears the tories will have crushed the middleclasses - wait and see!
and the talk will be of small goverment, helping small business etc, just as brown said british jobs for british people.
so forget this phoney scapegoating of neo marxism and conservatism, it is an illusion, propaganda to keep you distracted, the nwo are shutting us down and climing us as their total slaves, some of this will `appear` to be more market forces lead and less `marxist` but the same agenda remains - corporate fascist slaves - everyone, including you, there will be no improvement - ever, things will get worse, it was planned that way and they are in the end game stage.
Anonymous ,
ReplyDeleteInteresting reply and I agree with you completely, except i am not looking for a scapegoat, i am the scapegoat and also similar people to myself, the so called middle classes are being opressed.
I would never have enough space to give a complete analogy to what is going on, I have a good understanding of most of it.The only issue I find confusing is what will happen first and when , not that it will happen and why.
I do not class myself middle class by the way, more like hard working successfull working class would be more appropriate.
Every person I know in business is being persecuted in one way or the other, there is no longer reward and respect for success, there is legislation and opression.
There are so many reasons for a uprising, they know it and are dealing with us as new challeges unfold.
ie, new groups are forming by the day.
We are the resistance
T