Sunak threatens tax raid in yet another Tory u-turn
Rishi Sunak: I like this shot because he looks nervous. If I was in his position, asking Tory backbenchers to raise taxes, I’d be nervous too.
This won’t play well with the Tory backbenchers: after u-turn after u-turn over Covid-19 and schools, their government is promising yet another u-turn – over tax.
Tories pride themselves on being a tax-cutting party. But Rishi Sunak is said to be threatening not just one but several tax hikes:
The Tories promising a tonne of tax increases after winning an election pledging the precise opposite.
It’s like the early 90s again (except without the gdp growth, historic deficits and impending climate catastrophe). pic.twitter.com/GpLB2Bm63z
— Aaron Bastani (@AaronBastani) August 29, 2020
And to add insult to injury, the planned policy change means the Conservatives will be mirroring a policy planned by Jeremy Corbyn’s Labour in its 2019 election manifesto:
On Sunday Times front page news that Rishi Sunak proposing "to increase corporation tax from 19% to 24%, a move that would raise £12bn next year"
🧐 Labour manifesto 2019: "We will reverse some of the Tories’ cuts to corporation tax while keeping rates lower than in 2010" pic.twitter.com/jnn2yjBYZs
— Andrew Fisher (@FisherAndrew79) August 30, 2020
https://twitter.com/liamyoung/status/1299836756427182080
Johnson and Cummings slowly implementing Jeremy Corbyns and John McDonnells Labour Manifesto…. https://t.co/fa57Sj9I5k
— Bill P 💙NHS🇺🇦 (@witandwhiz) August 30, 2020
And if the voters don’t like it – and they don’t:
Tory voters already getting shook at the thought of their party introducing tax hikes. 😂 https://t.co/VBvxXf4PBp
— Aaron Bastani (@AaronBastani) August 30, 2020
… What are Johnson’s already-disgruntled backbenchers going to do?
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I know a few people who earn 80K or more. They have all told me over recent years (even those who use loopholes to pay less taxes) that they would happily pay higher taxes if asked (or told) to in order to improve the lives of those on starvation wages (or lower wages, to rephrase it).
Ye olde tax haven first, we should also introduce a hedge betters tax