spotCampaigns

spotOrganisations

spotArguments for socialism

spotPeople

spotInternational

spotEvents

spotAround the UK


All keywords


All People subcategories:

International figures

Labour Party figures

Lefts

Miscellaneous

Nationalists

Other UK politicans

Socialist Party and CWI public figures

* Tory figures

Trade union figures

Transport

Writers and artists


Tory figures keywords:

Andy Coulson (16)

Boris Johnson (87)

David Cameron (115)

Edward Heath (2)

Eric Pickles (4)

George Osborne (61)

George Osborne (61)

Iain Duncan Smith (28)

Liam Fox (3)

Lord Ashcroft (4)

Margaret Thatcher (53)

Michael Gove (12)

Michael Howard (3)

Theresa May (50)

Winston Churchill (4)

WinstonChurchill (1)

George Osborne


Highlight keywords  |Print this articlePrint this article
From: The Socialist issue 892, 9 March 2016: Housing crisis: can't pay, will stay!

Search site for keywords: Tax - Taxes - George Osborne - Cuts

Osborne's 10.4 billion tax lie

Chancellor George Osborne's tax cuts have cost the Treasury 2.4 billion. No surprise there, you might think. But he claimed the reduction had actually increased takings by 8 billion!

Osborne supported this breathtaking tall tale with a bit of clever accountancy.

In 2012, the chancellor promised the super-rich he would slash their income tax from 50p to 45p in the pound. Their beady little eyes shone wetly with tears of tax-dodging delight. They duly deferred payments until 2013 to take advantage of the cut.

This meant an artificial drop in tax receipts for 2012 and a corresponding increase in 2013. If you compare those two years out of context, you get the 8 billion lie. But the overall takings for the period were actually 2.4 billion less - a net difference of 10.4 billion from Osborne's claim.

The Socialist is amazed it has to say this, but cutting taxes doesn't earn you more taxes. That's not what Osborne really expected, of course. His job is to transfer wealth from the workers who make it to the bosses who fund his party.







Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party
Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

LATEST POSTS

CONTACT US

Phone our national office on 020 8988 8777

Email: info@socialistparty.org.uk

Locate your nearest Socialist Party branch Text your name and postcode to 07761 818 206

Regional Socialist Party organisers:

Eastern: 0798 202 1969

East Mids: 0773 797 8057

London: 020 8988 8786

North East: 0784 114 4890

North West 07954 376 096

South East: 020 8988 8777

South West: 07759 796 478

Southern: 07833 681910

Wales: 07935 391 947

West Mids: 02476 555 620

Yorkshire: 0114 264 6551

ABOUT US

ARCHIVE

Alphabetical listing


November 2019

October 2019

September 2019

August 2019

July 2019

June 2019

May 2019

April 2019

March 2019

February 2019

January 2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999