Cost of Living crisis

Calls for Spanish-style ‘solidarity tax’ to come to UK, as majority of public want higher wealth tax

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https://leftfootforward.org/2023/09/calls-for-spanish-style-solidarity-tax-to-come-to-uk-as-majority-of-public-want-higher-wealth-tax/

Potential options for taxing wealth – based on Spain’s model – could raise significant funds for the public purse.

Image of loads of money
Image of loads of money

A new poll has revealed there is widespread support for ensuring the richest in society pay more in taxes in Britain. The survey was commissioned by the Trade Union Congress (TUC), ahead of its annual Congress, which starts in Liverpool this weekend.

The research found that over six in 10 people are calling for the wealthy to pay higher taxes, including over half (53 percent) of Tory voters in 2019. Three in four are also in favour of capital gains to be taxed at either the same rate or higher than income tax. This included 73 percent of Tory 2019 voters. Only 4% of the public think wealthy people should pay less tax, the survey found.

Paul Nowak, general secretary of the TUC, said it is time to “end the grotesque inequality of the Tories,” and that a national conversation about wealth tax needs to be had. The union body added that the Tories have allowed the wealthiest in Britain to “feather their nests” while working people have suffered the worst pay crisis for two centuries.

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https://leftfootforward.org/2023/09/calls-for-spanish-style-solidarity-tax-to-come-to-uk-as-majority-of-public-want-higher-wealth-tax/

Continue ReadingCalls for Spanish-style ‘solidarity tax’ to come to UK, as majority of public want higher wealth tax

These damning stats tell you everything you need to know about Tory Britain

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UK Prime Minister Rishi Sunak and Energy Security and Net Zero Secretary Grant Shapps.
Prime Minister Rishi Sunak and Energy Security and Net Zero Secretary Grant Shapps. Credit: Simon Dawson / 10 Downing Street, CC BY-NC-ND 2.0

https://leftfootforward.org/2023/09/these-damning-stats-tell-you-everything-you-need-to-know-about-tory-britain/

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A new report from the National Federation for Education Research (NFER) has exposed the shocking scale of child poverty in England. The NFER surveyed senior leaders and teachers at state funded primary and secondary schools, and the results were staggering:

  • 90 per cent of all schools were found to be providing uniforms and clothing to pupils
  • 70 per cent of schools were found to be providing food through parcels, food banks, food vouchers or subsidised breakfasts.
  • 84 per cent of senior school leaders report that the cost of living crisis has increased the numbers of pupils requiring additional support and the level of need they have.
  • More than a quarter of pupils in mainstream school require additional support for mental health and wellbeing.
  • 80 per cent of school leaders agree that cost of living pressures have increased safeguarding concerns and/or incidents in their schools.
  • More than three fifths of mainstream school leaders report that 50 per cent or more of pupils receiving additional support are not eligible for pupil premium (a scheme that provides additional funding for disadvantaged pupils).

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https://leftfootforward.org/2023/09/these-damning-stats-tell-you-everything-you-need-to-know-about-tory-britain/

Continue ReadingThese damning stats tell you everything you need to know about Tory Britain

Damning report projects this is worst parliament on record for income growth

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Image of cash and pre-payment meter key
Image of cash and pre-payment meter key

https://leftfootforward.org/2023/09/damning-report-concludes-this-is-worst-parliament-on-record-for-income-growth/

Average income for UK workers will be worse in 2024 than 2019, think tank predicts

This parliament is the worst on record for income growth, a think tank has concluded after research into UK living standards revealed the average income for a UK worker is projected to be 4% lower in 2024 than in 2019.

A report published today by Resolution Foundation laid out the likely backdrop of living standards for a 2024 election, and, unsurprisingly, it does not look good for the Tory Government.

Although Rishi Sunak may meet his target of halving inflation by the end of 2023, the report lays out little sign of relief from cost of living pressures into the future, predicting three-years of income stagnation for UK workers, into 2025-26.

With a looming general election, this does not bode well for the Tories, with no example of a government ever managing to retain power with such a weak median income growth since comparable records began in the 1960s.

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https://leftfootforward.org/2023/09/damning-report-concludes-this-is-worst-parliament-on-record-for-income-growth/

Continue ReadingDamning report projects this is worst parliament on record for income growth

Jeremy Corbyn annihilates Labour over ‘wealth tax u-turn’

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Image of Jeremy Corbyn MP, former leader of the Labour Party
Jeremy Corbyn MP, former leader of the Labour Party

https://www.thelondoneconomic.com/politics/jeremy-corbyn-labour-party-wealth-tax-355502/

Jeremy Corbyn, the former Labour leader who was banned from standing as a candidate for the party earlier this year, has taken an almighty swipe at Keir Starmer and Rachel Reeves, after it was confirmed that the pair would not look to implement a wealth tax if elected into office.

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Keir Starmer also confirmed last month that would retain the two-child benefit limit – despite growing calls from poverty campaigners for the cap to be abandoned. The controversial stance has divided politicians within the Labour Party.

It’s another questionable policy u-turn from Starmer, and it hasn’t gone unnoticed by Jeremy Corbyn. The two-time Prime Ministerial candidate ripped into Sir Keir, saying that a wealth tax could easily fund an extension to the two-child cap.

Corbyn also urged his successor to ‘side with those in need’:

“With the money raised from a 1-2% wealth tax on assets over £10 million, we could afford to scrap the two-child benefit cap SEVENTEEN times over. Politics is about choices — and we should be on the side of those in need, not those with greed.” | Jeremy Corbyn

https://www.thelondoneconomic.com/politics/jeremy-corbyn-labour-party-wealth-tax-355502/

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Millions of households to face higher energy bills this winter despite price cap

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Image of cash and pre-payment meter key
Image of cash and pre-payment meter key

https://morningstaronline.co.uk/article/splash-millions-households-face-higher-energy-bills-winter-following-ofgem-price-cap

MILLIONS of cash-strapped households are facing higher gas and electricity bills this winter despite a lower energy price cap, the labour movement warned yesterday.

Amid declining wholesale prices, regulator Ofgem announced a new average annual energy cost across Britain of £1,923 from October 1 — down from £2,074.

Typical prepayment meter customers will see their bills falls to £1,949 a year.

But experts warned a decision by Tory ministers to cut government energy support alongside an increase in compulsory standing charges would hike costs for some, while many would see little or no change.

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https://morningstaronline.co.uk/article/splash-millions-households-face-higher-energy-bills-winter-following-ofgem-price-cap

Continue ReadingMillions of households to face higher energy bills this winter despite price cap