The Conservative Party's manifesto pledges £17bn in tax cuts by 2028/29, funded through £12bn in welfare cuts and various cost savings. Experts are uncertain about achieving the £6bn tax gap reduction and £12bn welfare cuts. The manifesto aims to cut taxes by £15.6 billion by 2028/29, with a focus on reducing National Insurance contributions. The party plans to raise £65 billion over the next 5 years by cutting welfare and closing the tax gap. The manifesto outlines concrete spending measures such as tax cuts and increased defense spending, while the feasibility of savings from welfare cuts and tax avoidance remains uncertain.
Quick & dirty overview of Conservative manifesto figs Essentially: £17bn of tax cuts by final year of forecast (29/30) And £800m of extra spending (new spending bigger than that but it’s paid for via further dept cuts) All paid for by £18bn of welfare cuts & avoidance measures https://t.co/jDCxSgW9ih
The economic debate over the Tory manifesto is well underway Paul Johnson of the IFS points out that the spending measures are concrete - tax cuts, defence etc. But the savings from welfare cuts and reducing tax avoidance and evasion are far from certain Sunak will face… https://t.co/kuqHQXX1u6
Conservative manifesto: PM pledges £17bn of tax cuts by 2028/9. Says it will be paid for by £12bm of welfare cuts & then various cost savings (cutting civil sevice/savings on consultants etc..) > will be lots to chew over in this, not least whether those ‘savings’ in welfare etc… https://t.co/yeo52Y9QJV
Tory manifesto contains pledge to cut taxes by £15.6 billion by 2028/29. NICS is the big one. Rate would be cut to 6% by April 2027 + phased out for self-employed. £15.6 billion is a big number but, for context, overall tax take in 28/29 is forecast to be £1,191 billion… https://t.co/p9ogOkBtm9
£17bn of tax cuts, £6bn more for defence. These costs are definite. The savings from controlling welfare, reducing tax avoidance/evasion, cutting civil service jobs, may be achievable but are uncertain. Saving £12bn from projected disability benefit bill will be very tough. https://t.co/5IASkAOPM4
Conservatives to raise cash by cutting tax gap & welfare costs. £6bn tax gap uncertain, but not impossible say experts. Some v sceptical £12bn of welfare cuts can be delivered. Context you need here (including a reference to 2015, when party promised same thing) 👇👇 https://t.co/oagSHHftzO
Conservative manifesto: PM pledges £17bn of tax cuts. Says it will be paid for by £12bm of welfare cuts & then various cost savings (cutting civil sevice/savings on consultants etc..) > will be lots to chew over in this, not least whether those ‘savings’ in welfare etc achievable https://t.co/eDv51BNOeN
Conservative plans based on £65 billion(!) from cutting welfare and closing the tax gap over the next 5 years. https://t.co/mmfn1qhHMq
Conservative manifesto: PM pledges £17bn of tax cuts. Says it will be paid for by £12bm of welfare cuts & then various cost savings (cutting civil sevice/savings on consultants etc..) > will be lots to chew over in this …. https://t.co/ZpcQgGNsjj