The real cost of Labor

Morning moment The real cost of Labor June 2017

British Labour Party

While this is still fresh in all of our minds I want to read to part of this document

It is entitled

The UK Labor parties costs THE FACTS

You really should read this and please note there is one glaring omission that of defense ZRO mention of defense that alone should speak volumes to anyone

The FIRST responsibility of a Government or anyone seeking to form one, should be defending its sovereignty

NO mention at all!

This comes from the Guardian newspaper and I will put a link to it on my website

https://www.theguardian.com/politics/ng-interactive/2017/may/16/what-would-labours-manifesto-cost-pledges-money-guide-details

What would Labour’s manifesto cost? Your at-a-glance guide

The Labour party’s manifesto was accompanied by a document detailing what the pledges would cost, and how Labour intends to raise the money. Here’s a visual guide to the details

Screen Shot 2017-06-20 at 8.33.14 PM

https://www.spreaker.com/episode/12153474

Please bare in mind that these figures are additional cost increases (Not the existing ones)

What Labour says it will cost

£48.6bn

Universities £11.2bn

Removing university tuition fees and restoring maintenance grants

Schools £6.3bn

Increasing funding, including protection against losses from the new funding formula, free school meals and arts pupil premium

Pre-school £5.3bn

Childcare and early years including more money for Sure Start

Skills £2.5bn

Introducing free FE tuition, equalizing 16-19 funding and restoring EMA

Healthcare £5bn

Healthcare including free car parking but excluding higher pay and capital expenditure

Social care £2.1bn

Nurses £0.6bn

Restore bursaries

State pensions £0.3bn

Uprate state pensions for British pensioners overseas, extending pension credit to those affected by changes to their state pension age since the 1995 Pensions Act

Social security £4bn

Increase ESA by £30pw for those in the work-related activity group, scrap bedroom tax, implement the PiP legal ruling, restore housing benefit for under 21s, scrap bereavement support payment reforms, £2bn of additional funding for universal credit for review of cuts and how best to reverse them, uprate carers’ allowance to the level of JSA

Paternity £0.3bn

Double paternity pay and paternity leave

Barnett consequentials £6.1bn

Increased funding to Scotland, Wales and Northern Ireland

Public sector pay £4bn

Lift public sector pay cap

Police £0.3bn

Recruit an additional 10,000 police officers to work on community beats

Other current spend items £0.6bn

Including abolition of employment tribunal fees, additional border guards, firefighters and HMRC tax collection staff

Real living wage £0bn

Introduce a real living wage of at least £10 an hour by 2020 with net fiscal benefits ringfenced to provide support to small businesses

How Labour says it will pay for it

£48.6bn

Labour make a £3.9m allowance for ‘additional behavioral change and uncertainty’, reducing the total tax take

Corporation tax £19.4bn

Raising the headline rate to 21% from 2018-19, 24% from 2019-20 and £26% from 2020-21

Income tax £6.4bn

Increase for top 5% of earners by lowering the threshold for the 45p additional rate to £80k (top 5%) and reintroducing the 50p rate on earnings above £123k

Excessive pay levy £1.3bn

A payroll tax, charged against the employer of any individual earning more than a defined limit

Offshore company property levy £1.6bn

A charge made against purchases of residential property by offshore trusts located in known tax havens

Tax avoidance £6.5bn

Linked to Labour’s program to tackle tax avoidance and evasion

Stamp duty £5.6bn

Extension of stamp duty reserve tax to derivatives and removal of exemption

Corporate tax £3.8bn

Efficiency review of corporate tax reliefs

Reversing tax giveaways £3.7bn

On capital gains tax, inheritance tax, bank levy and scrapping the married persons’ tax allowance

VAT on private school fees £1.6bn

Other £2.6bn

Savings on discretionary housing payments from scrapping bedroom tax, soft drinks industry levy spend redirected from capital to revenue, higher rate IPT on medical insurance, reform controlled foreign companies corporation tax regime

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