{"id":29669,"date":"2015-07-10T10:29:57","date_gmt":"2015-07-10T09:29:57","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=29669"},"modified":"2015-07-10T10:30:57","modified_gmt":"2015-07-10T09:30:57","slug":"the-budget-imposed-a-10-pay-cut-on-those-earning-12000-a-year","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2015\/07\/10\/the-budget-imposed-a-10-pay-cut-on-those-earning-12000-a-year\/","title":{"rendered":"The Budget imposed a 10% pay cut on those earning \u00c2\u00a312,000 a year"},"content":{"rendered":"<p>This graph<a href=\"http:\/\/www.ifs.org.uk\/uploads\/publications\/budgets\/Budgets%202015\/Summer\/Hood_distributional_analysis.pdf\" target=\"_blank\"> from the IFS <\/a>on the impact of the budget by income decile is worth repeating:<\/p>\n<p><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2015\/07\/10\/not-so-much-a-pasty-tax-budget-more-an-outright-disaster-for-millions\/screen-shot-2015-07-10-at-07-03-14\/\" rel=\"attachment wp-att-29662\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-29662 size-large\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2015\/07\/Screen-Shot-2015-07-10-at-07.03.14-550x410.png\" alt=\"Screen Shot 2015-07-10 at 07.03.14\" width=\"550\" height=\"410\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2015\/07\/Screen-Shot-2015-07-10-at-07.03.14-550x410.png 550w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2015\/07\/Screen-Shot-2015-07-10-at-07.03.14-402x300.png 402w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2015\/07\/Screen-Shot-2015-07-10-at-07.03.14-300x225.png 300w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2015\/07\/Screen-Shot-2015-07-10-at-07.03.14-177x132.png 177w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2015\/07\/Screen-Shot-2015-07-10-at-07.03.14.png 1890w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<p>I repeat it for a reason. Note that the second income decile is hardest hit, losing more than \u00a31,200 a year.<\/p>\n<p>That decile, <a href=\"https:\/\/www.gov.uk\/government\/statistics\/percentile-points-from-1-to-99-for-total-income-before-and-after-tax\" target=\"_blank\">according to most recent government data<\/a> has income varying between \u00a311,100 and \u00a313,100 a year.<\/p>\n<p>In other words, George Osborne imposed a 10% net pay cut on some of the hardest up people in the country in this budget.<\/p>\n<p>No wonder that <a title=\"Labour, Lodging, Land. The Pope has created his battlecry\" href=\"http:\/\/www.taxresearch.org.uk\/Blog\/2015\/07\/10\/labour-lodging-land-the-pope-has-created-his-battlecry\/\" target=\"_blank\">the Pope expects<\/a> change to come from the demands of those least well off. Could you live with losing five weeks income when you were already at your financial limits? I doubt it. So why do we expect this whole group to do so?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This graph from the IFS on the impact of the budget by income decile is worth repeating: &nbsp; I repeat it for a reason. Note<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2015\/07\/10\/the-budget-imposed-a-10-pay-cut-on-those-earning-12000-a-year\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-29669","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/29669","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=29669"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/29669\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=29669"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=29669"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=29669"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}