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While the election focus has been on tax, the main parties have been accused of a “conspiracy of silence” over what looks like an inevitable squeeze on some public services after July 4. Even most of the commitments made are quite modest.
Public spending
Burning questions remain as to what the next government will do about the social care crisis, ailing NHS, cost-ofliving, homes shortage, courts system delays, overcrowded prisons, and growing welfare bill.
“The debate on tax and spending policy has been dominated by arguments about how a series of relatively small spending pledges would be funded,” said Resolution Foundation research director James Smith.
“But such debates are a sideshow compared to big questions about how the next government would manage the uncertainties facing the public finances. All this means that the fiscal debate has become detached from the fiscal reality.”
Some £19 billion of cuts to unprotected departments, including justice, the Home Office and local government, are “baked into post-election spending plans,” he added.
Labour is yet to commit to a date to raise defence spending to 2.5 per cent of GDP, with the Tories saying 2030.
Tax
Labour, like the Conservatives, have ruled out increasing income tax, VAT and national insurance. Yet the UK tax burden will grow, partly due to a £10 billion-a-year tax rise for three more years through stealth freezes on personal allowances and thresholds.
Diese Geschichte stammt aus der July 01, 2024-Ausgabe von Evening Standard.
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Diese Geschichte stammt aus der July 01, 2024-Ausgabe von Evening Standard.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
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THE UNLIKELY LADS
TO LITTLE more than half of this England squad, Sunday’s European Championship Final will be an occasion like no other, the game of their lives that might come around again, well, who knows when?
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Early wicket on Anderson's farewell
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Unexpected imports slump raises China recovery fears
NEW trade figures from China today raised more concerns about domestic demand.
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UK Apple fans finally set eyes on Vision Pro headsets
LONDON’S long wait for the arrival of one of the most eagerly anticipated — and controversial — next-generation tech devices ended today, when the first customer got his hands on Apple’s Vision Pro headset.
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Lavazza boss says coffee prices could rise by 25% in UK
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A second-hand witness stand? Yes please! That's the joy of online shopping
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THE purpose of Nato was “to keep the Russians out, the Americans in, and the Germans down” according to its first Secretary General, Lord Hastings Ismay.