Newer Labour: Tom's Been Poking Around Gordon's Tory-Busting Budget Record

Trotty Tom runs the rule over Gordon's First XI of budgets and finds some IFS charts c/o Freemania.

The first shows the redistribution of the latest budget for the upcoming tax year without with benefit changes which make things a lot better :

As Tom says ... "Oh Dear".

The second shows the cumulative redistributive effect of IT, NI and other measures for the whole reign:

LOL got serious and said ...

1. Guardian Diary had an item explaining that while the Mail had five pages squealing about the budgets' ill effects on just about everyone. They also worked out that there were I think 89 permutations of types of taxpayer. They could only find three of these that were disadvantaged when all is taken into account.

If they are the same ones I think they are such as women aged 60 to 64 and part time workers earning £7500 ish and working poor singles with no kids then I'd say they are folk Labour should definitely be helping and not burdening.

2. Lots of what el Gordo announced does not kick in within the period of 07-08.

3. There was an earlier IFS chart up to 2005 which - obviously I haven't memorized completely - was powerful stuff. The main differences were that the third and fourth decile had improved by EIGHT percent not SIX and that the pain for the top two deciles was less - about HALF this new chart if memory serves.

In fact I was not quite right on the detail. But the general direction of travel was more or less as above.

The chart is available HERE and reproduced below:

Poorest - plus 11.25
2 - plus 11.5
3 - plus 8.1
4 - plus 5.25
5 - plus 2.5
6 - plus 0.5
7 - minus 0.6
8 - minus 2.0
9 - minus 2.8
Richest - minus 3.9

I'll find the link. It was in the post I left at the top of my So Now Who Do We Vote For CP's Labour Blog every day, asking everyone to look at it before voting against Labour anywhere that it mattered.

4. This was a brilliant budget in terms of wiping the smug smiles off the pathetic cameroonies.

But this detail was I think faulty.

5. I predict that there will be another announcement correcting this "fault" possibly before May (bit unlikely), certainly before any autumn election (possible if selection gets moving), and obviously before any more normally timed election.

It could very easily be before the fault moves into the system.

I'm voting Labour too and hope I have a brilliant candidate with a brilliant campaign run by a united constituency to twat the twat good style.