IFS: Budget was “regressive”

Green Politics

George Osborne claimed it was a "progressive Budget". Analysis by the independent IFS shows that, stripping away pre-announced measures, it was a "regressive Budget".

A picture says a thousand words. The respected, independent Institute for Fiscal Studies today said clearly that , “likely … overall impact of yesterday’s measures was regressive”.

By 2014-15, the distributional impact of tax and benefit measures is only “progressive” if the pre-announced decisions made by Labour – including the 50p income tax rate – are included. The IFS are clear that the Treasury’s claims only hold valid, “because of reforms announced by the previous government”. Stripping them out means that George Osborne’s dictum is wrong.

This analysis – consistent with Left Foot Forward’s own yesterday, the Financial Times’ and Nick Pearce on Open Democracy – could not be clearer: taken on its own, it was a regressive Budget.

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52 Responses to “IFS: Budget was “regressive””

  1. Robert

    I’m all for gas chamber for cripples retards and people who cannot read and write, it will produce heating electricity and rid us of the worse of the welfare shits, mind you I will have to be first in line then..

  2. Tom Morgan

    The bastards!! RT @mattedgar http://tinyurl.com/33or75f

  3. Labour Are Officially Bad for Business « Billy Blofeld

    […] Labour Are Officially Bad for Business 24 06 2010 I thought I’d take a leaf out of Left Foot Forwards book and do a bit of “Evidence Based Blogging”. […]

  4. Billy Blofeld

    Here is some contrasting data which shows that Labour’s economic policies were regressive.

  5. David Lammy

    this chart speaks volumes – http://bit.ly/atIrAT

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