All for the sake of 2p

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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.




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….