I said on Monday that the ending of universal child benefit would be the Tories 10p moment —m and it certainly looks like it now. Their reputation for competence is shattered.
And all for the sake of 2p, at most.
2p on higher rate tax that is. If that had been done the yield would have been in HM Revenue & Customs’ estimate £1,560 bn — i.e. more than the cost of child benefit for those on higher rate tax.
No extra admin.
No hassle.
No great stress.
Fair.
Proportionate.
Justified.
But no — the Tories wanted to hit those in middle income most.
And at the first hurdle — and for just £1 billion — their logic has been found wanting and their political antennae absolutely wary.
And we’ve got four more years of them. What havoc will they wreak?
And all for the sake of two pence.
Bring on Mary Poppins….
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Do you really think someone on £44k is middle income?
@Andrew Symonds
No – it’s way above
But it’s still not stunning
And that’s not the point – what I am saying is that there were clear alternatives and the most stupid option was picked instead
And the Tories economic competence has been shattered with it
I can do it for just 0.11p!
They could have also further increased the levy on banks’ balance sheets – which nobody except banksters would complain about, and they are not particularly popular at the moment.
Or introduce a Tobin tax.
The reality is there is an ideological pursuit to slash benefits even if it hits their own supporters hardest.