News from Labour Matters

Tories plan to promise tax cuts, but only for those with money

The Telegraph, as one would expect from them, hails Conservative plans for tax cuts “for savers” as a great leap forward, but in fact it’s just more money for those who already have it:

“The rapid reduction in interest rates has led to those with modest savings receiving just a few pounds from their nest-eggs every month.

The Daily Telegraph is campaigning for pensioners to be given new tax breaks on their savings.

In an article for The Daily Telegraph, the shadow chancellor says he is currently studying the tax system to “see what can be done”, says The Telegraph today.

You’ll note how pensioners have been included to make it sound more populist? Strangely however the Conservatives didn’t think highly of pensioners when they opposed Labour’s real help for pensioners.

Other news from Labour Matters

• Southampton Labour release alternative 'Budget for Fairness' - 6 February 2012
• "Bleak unemployment figures are bad news" says John Denham - 12 October 2011
• Westminster Council to cut Taxicard budget by £500,000 a year - 11 August 2011