@Tim Worstall - Re: it's so unlike Tim Worstall to get the wrong end of the issue, isn't it?
> It's in the likely manifestos of three of the four major parties. It's in the Ukip one because I helped draft the last version and I put it there
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Raising the tax allowance to £13,500 is a nice gesture and it’s going leave these people better off by around £50 per month but it isn’t nearly enough to cover the huge gap between pay and prices we pay. This particular policy was probably through up around the conference table as the cheapest, easiest way to attract minimum wage workers. ‘Tax cuts’ is a powerful peace of rhetoric to inspire those who need more money. In reality, it’s not going to make much of a difference. To be honest, it isn’t the minimum wage earns who will really benefit from this policy because what we always forget to take into account is how income based benefits, such as housing benefit or Tax Credits might change to reflect this extra money being available. Therefore, it is highly unlikely that minimum wage earners are going to be better off.
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Meanwhile, of course, UKIP's Manifesto (well, unless Nigel's changed his mind again) saying they're going to raise the threshold of the 40% tax rate to £45,000 which will give the comfortably well-off a double tax cut.
And they're going to get rid of inheritance tax. How many people on minimum wage will that benefit?
> It's just that that Great Experiment of the 20th century has convinced me that lefty *methods* don't get us there while broadly capitalist and free market ones, with a tad of judicious intervention, do.
That would be the "Great Experiment" of the 21st Century known as Quantitative Easing, perhaps? The £375 *billion* which has been thrown into the financial markets whilst the Tories have been borrowing massively and created more debt than ever? Hmm...