- Wed Nov 26, 2025 1:23 pm
#100848
22bn is quite an expansive headroom to be honest, the "just raise income tax" lot seem to be able to cope but as I said to my dad, raising taxes just to pay down debt isn't going work. There has to be a narrative, it is why I was ok with the social care tax, it was quite a forward thinking idea to solve what is an increasingly expensive issue especially with the fact we will soon be entering a period where people don't have houses to sell to fund it. The fact they started to use it to pay down Covid debts sort of undermined the idea behind it but I felt it was actually a decent policy by the Tories, one of very few.
As for Truss, wasn't half of the issue because she didn't run it by the OBR, maybe after this morning that opinion should have a bit more support. Also the fact that Reeves can't go around flashing the cash is down to budgets like that and the tax giveaway by Hunt.
Effectively you don't cut income tax, landlords don't see the extra cash around, businesses don't put wages up. Reverse the cut will not solve the issue that the Landlord has taken their pound of flesh and that the business didn't raise wages in line with inflation.