The Labour party think they can win the economic argument by just wailing about cuts on behalf of their public sector union paymasters. They give no credible alternatives for what they would do about Britain’s economic crisis.
What they also like to ignore is some of the changes that are being made towards making this country fairer. Here is a list of cuts WE should be talking about because they are mostly happening through Lib Dem action and pressure.
- The CUT from £250,000 to £50,000 in the maximum annual pension contribution to receive tax relief – clawing back a staggering £4,000,000,000 (£4bn) that Labour was giving to the rich.
- The CUT in bank profits with a new tax raising £2.5 bn a year.
- The CUT in regional disparity through the £2.4 bn regional growth fund.
- The CUT in tax paid by ordinary people with the basic tax threshold raised to £8,105 by next April from £6,475 in 2010/11 – and no more 10p tax rate fiascos.
- The CUT in the 40% tax threshold meaning the better off pay more.
- The CUT in money that Labour allowed people to make in Capital Gains with the tax rate rising from 18% to 28%.
- The CUT in pensioner poverty with a triple lock guarantee of rises and the biggest ever cash rise coming in April 2012. No more 75p-per-week insults.
- The CUT in the gap between rich and poor through the VAT rise. Remember those who spend most pay most and the basic costs of living don’t have standard rate VAT.
- The CUT in benefit fraud with new resources being brought in.
- The CUT in tax evasion by the rich with £900m of extra resource.
- The CUT in education disadvantage for poorer children through the Pupil Premium.
- The CUT in the amount per month students will have to pay back after graduation and a higher threshold before they start paying anything.
Remember, Labour didn’t deliver these changes in their 13 years of government and voted AGAINST them in this government. Lib Dems in parliament are pushing a fairness agenda and showing that Labour can never again be trusted with the economy. If you have Labour Councils you can probably see the same incompetence and wrong choices in your area too. It’s time to go out and tell the public.
By the way, just for good measure we also CUT Tory plans to increase the Inheritance
Tax threshold from £350,000 to £1,000,000!
Ian Swales is MP for Redcar