In reply to summo:
> I'm not against putting up tax at all, but the UK will only clear it's debt to balance the budget even occasionally and improve services (slowly) if everyone pays more tax.
Nonsense, there's always going to be more than one way to skin that cat. The UK has fairly high levels of income inequality. You can argue over whether it's right to tax the wealthy and corporations more, but it's clear that we could raise quite large sums by doing so if we chose to.
> The idea that you can deal with benefits, education, nhs , school meals, transport, uni fees , and corbyns other promises etc. With only the top 5% and business paying more tax is dreaming. People have no sense of scale of the funding require. But some how believe spending will encourage growth and it will all be fine, think we heard that off the last Labour government.
Which part do you think is dreaming?
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, equalising 16-19 funding and restoring EMA
Healthcare £5bn
Healthcare including free car parking but excluding higher pay and capital expenditure
Social care £2.1bn
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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 £3.9bn allowance for 'additional behavioural 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 programme 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
Post edited at 10:30