This was in the Morning Star this morning, based on a quick conversation yesterday:
DAVID Cameron has got his priorities all wrong, Richard Murphy told the Star yesterday.
The Tax Justice Network campaigner and economist said: “He’s saying let’s cut benefits first, when the answer is to increase wages first.
“When people have more money in their pockets from work, and he’s got a tax system that charges the rich the most and the poorest the least, then, and only then, might he think about cutting tax credits.
“But under his plans children and those on low incomes are all going to suffer. Poverty is going to rise.
“And we’re not going to see any contribution to get us out of any economic problem. Many people will be forced to move into the shadow economy to top up their low wages.
“So in fact he won’t raise any more taxes, he won’t encourage any more work, we will have lower spending and there will be lower VAT receipts.
“From every point you can think of this is bad policy — what we need at the end of the day is a pay rise for the ordinary people of this country.”
That sounds like a transcript to me.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
I can go along with cutting tax credits – I see no reason why the tax payer should be subsidising business – BUT it must be at the same time as raising the minimum wage, and maybe reducing employers NI to sweeten them.
Minimum wage should be £10 an hour.