Tuesday 19 May 2015

Food Banks

The use of Trussell Trust food banks increased exponentially from 2,614 people collecting three-days' food in 2005/06 to 913,138 collections in 2013/14. This increase slowed last year to reach 1,084,604 collections. The Trussell Trust represents around 40% of all UK food banks, so these numbers are an under-estimate of the total use of food banks in the UK.


Saturday 16 May 2015

Affordability of Housing

Housing has become much less affordable over the years:

http://blog.shelter.org.uk/2014/02/talking-about-bubbles-misses-the-point/ar-by-decade/


Inheritance Tax

Median house price in UK at start of 2015 is around £180,000:

https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/424293/HPIReport20150428.pdf

Raising the inheritance tax threshold from £325,000 per person to £500,000 per person is a tax cut for the wealthy.

Income Tax

Raising the higher rate of income tax threshold from £41,000 to £50,000 is essentially a tax cut for the
top 16% of earners (as at 2012/13):
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/399041/Table_3_1_a_13.xls 
 

Cutting the top rate of income tax for earnings above £150,000 is a tax cut for the top 1%.
 

Benefit fraud and tax evasion

Benefit fraud accounted for £1.2bn of the welfare bill in 2013/14 (0.7% of the entire welfare expenditure):
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/371459/Statistical_Release.pdf

Tax evasion accounted for £34bn of lost revenue in 2012/13 (6.8% of the expected tax revenue):
https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/364009/4382_Measuring_Tax_Gaps_2014_IW_v4B_accessible_20141014.pdf