Thursday, June 24, 2010

 

Institute Fiscal Studies Expose Budget


Opinion is still split on the budget, as one might expect. I note the Daily Mail quotes the 'hugely respected' IFS but quotes its judgement very selectively. The Guardian's Tom Clark fastens onto the more significant elements in the IFS's report. He points out that figures support the claim that the rich will pay the most; the richest decile will lose 7% while ther poorest will lose a fraction of 1%.

However, Clark points out that the government's chart included the changes planned by Darling before the election. If Osborne's additions to this package are expressed in a chart you get the one above, showing precisely the reverse pattern. So Clegg and co have been party to a very unprogressive and typically Tory policy through superimposing rightwing measures onto Labour's leftwing ones.

I heard Clegg being interviewed by 'Rottweiler' Humphrys this morning and sounding as unhappy a bunny as I've ever heard when under relentless, but wholly fair questioning. Oh boy, I get a feeling he'll pay for being the person who sold out his party soon enough.

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