BusinessPostCorner.com
No Result
View All Result
Sunday, May 25, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Labour accuses Tories of planning unfunded tax cuts

June 17, 2024
in Business
Reading Time: 2 mins read
A A
0
Labour accuses Tories of planning unfunded tax cuts
ShareShareShareShareShare

The Conservatives insist their measures to reduce welfare spending have been announced since Mr Hunt’s autumn statement, which was in November last year, or will be announced in the future.

Their claims about welfare savings have also been questioned by the independent Institute for Fiscal Studies (IFS) think tank, who said that it was “far from clear” that the they could save the required amount.

The IFS said that was because “many of the policies that they plan to set out in their manifesto were previously announced by the government and have therefore already been incorporated” into government budgets.

Much of the Conservatives’ drive for savings from the welfare bill would come from halting the surge in claims for disability benefits, primarily the Personal Independence Payment (PIP).

The number of claimants has risen from 2.3 million people in 2019 to 3.6 million now and is forecast to rise to 4.6 million within five years of the election.

The government launched a consultation on ways to reform PIP in April.

The Conservative campaign points to a further suite of measures that were all announced after Mr Hunt’s Autumn Statement, such as increased mental health support, a call for evidence on reforms to fit notes, faster rollout of universal credit, and tougher powers to remove benefits from people who refuse work.

Paul Johnson, the IFS’s director, has said that the cuts in spending required by the Conservatives’ plans “would not be easy and would need definite, clear policies that require difficult decisions” and have not yet been announced.

However, he added: “I was equally sceptical about promises of delivering £12bn of welfare savings in the 2015 manifesto.

“Via some serious cuts, including four years of freezes, those savings were broadly delivered, albeit two years later than that manifesto had claimed.”

A Conservative spokesman said: “Unless action is taken, the working-age welfare bill will rise by more than £20bn a year by the end of the decade.

“Labour is in complete denial about this and don’t think it’s possible to save a single penny from this unsustainable rise.

“We don’t think that’s right, which is why we have set out how we would save £12bn from the welfare bill by the end of the next parliament, including by controlling spending on health and disability benefits and taking people’s benefits away after 12 months if they don’t accept a job.”

Credit: Source link

ShareTweetSendPinShare
Previous Post

Jensen Huang: Nvidia CEO on profound lesson from Japanese gardener

Next Post

The 13 Best Free Graphic Design Software for Marketers and Beginners

Next Post
The 13 Best Free Graphic Design Software for Marketers and Beginners

The 13 Best Free Graphic Design Software for Marketers and Beginners

Apple designer Sir Jony Ive joins OpenAI

Apple designer Sir Jony Ive joins OpenAI

May 21, 2025
Higher bills push inflation to highest in more than a year

Higher bills push inflation to highest in more than a year

May 21, 2025
Stocks swing to a flat close as bond yields spike on U.S. debt worries

Stocks swing to a flat close as bond yields spike on U.S. debt worries

May 22, 2025
Speeding jet slams on breaks and has to abort takeoff

Speeding jet slams on breaks and has to abort takeoff

May 20, 2025
BMSS announces investment, collaboration with Knuula

BMSS announces investment, collaboration with Knuula

May 19, 2025
How are investment strategies changing?

How are investment strategies changing?

May 22, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Learners struggle to pay before test, but instructors say pricing fair

Learners struggle to pay before test, but instructors say pricing fair

May 24, 2025
Junk bonds: CCC vs B spread offers a warning sign for debt

Junk bonds: CCC vs B spread offers a warning sign for debt

May 24, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!