Friday, 26 March 2010

For the Many, Not the Few


Today's Financial Times headlines with only part of the story: "Rich hit hard by 13 years of Labour budgets". From what I observe the rich have done pretty well over the last 13 years.
Go to the Independent and they write in more detail:

"The richest households in Britain are about £25,000 a year worse off as a result of changes to the tax and benefits system introduced by Labour since 1997 – while the "working poor" are better off by almost £1,700, or 13 per cent of their income.


The very poorest sections of society – those with a typical annual income (after tax) of £9,000 or so – are about £1,200 better off."
One of the big lies widely told is that all the main political parties are all the same. The independent evidence from the Institute of Fiscal Studies is quite clear, Labour has redistributed wealth from the richest to the poorest over the last 13 years.
So when the Conservatives and Liberal Democrats talk about "change" it is clear that it will be for the financial benefit of the wealthier few.

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