Reports and Campaigns

spotAbout the Socialist Party

spotAnti-capitalism

spotAnti-privatisation

spotAnti-war

spotElection campaigns

spotEnvironment

spotHealth

spotSocialist women

spotWorkplace

spotYouth and Students

All keywords


Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Local government keywords:

Civil service cuts (1)

Council tax (49)

Council workers (131)

Pay (1986)

privacy (5)

Social Care Workers (5)

Taxes (40)


Reports and campaigns:

Anti-capitalism (1229)

Anti-fascist (560)

Anti-racism (697)

Anti-war (1484)

Asylum (208)

Black and Asian (388)

Children (365)

CNWP (108)

Corporate crime (2)

Disability (200)

Education (3861)

Election campaigns (2429)

Environment (598)

EU (444)

Finance (99)

Food (268)

Health and safety (33)

Health and welfare (306)

Housing (1014)

Human Rights (373)

LGBT Pride (140)

Local government (2156)

Local services (3629)

Low pay (502)

Migration (55)

Nationalisation (144)

New workers party (465)

NHS (1820)

Pensions (699)

Post Office (222)

Poverty (564)

Privatisation (1005)

Public Services (1119)

Socialism (855)

Socialist (43)

Sport (194)

Stop the slaughter of Tamils (88)

Students (1796)

The state (1353)

Transport (535)

TUSC (997)

Welfare rights (706)

Women (747)

Workplace and TU campaigns (8194)

Youth (1939)

Related websites

Youth Fight For Jobs

Trade Unionist and Socialist Coalition

National Shop Stewards Network

Tamil Solidarity


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 Join us today!

Printable version Printable version

Facebook   Twitter

Related links:

Tax:

triangleYoung people being strangled by debts

triangleNasty party imploding...drive out the Tories

triangleThem & Us

triangleProblem gambling soars by 33%

triangleAmazon tax halves as revenues soar - nationalise now!

Taxes:

triangleHurricane Harvey: A tragedy made far worse by capitalism

triangleHow can Corbyn's programme be implemented?

triangleUniversal basic income - what do socialists say?

triangleThem & Us

George Osborne:

triangleRight wing attempts to use single market against Corbyn

triangleTory splits brought to the surface - Corbyn must go on the attack

Cuts:

triangleNorth London hospital workers fight cuts and job losses

triangleNo cuts - hands off King George A&E!