Debunking Labour's myth over tax and pensions
People will be a little bit confused, relative to pensions and tax, with what Labour and the Conservatives are saying concerning the Budget. So I did a Google search to find out what was fact and what was fiction.
1. The last Labour Government increased pensions by 75p in one Budget.
2. In the 1997 Labour Budget, Brown raided private pension funds to the value of £150bn.
3. Throughout the whole of the last Labour Government, except for one month, the highest rate of income tax was 40%. During the Blair/Brown years, the rich got richer - fact not fiction.
4. Labour axed the 10% tax rate that affected the poorest families.
5. More than 50% of the last Labour Government now sit on the Opposition front benches. Do we really want these people running the country again?
6. Pensioners in the latest Budget had the greatest cash increase in state pensions ever.
7. The recent Budget protects key pensioner benefits, such as winter fuel payments and free TV licences for older pensioners.
8. Because of the warm homes discount, this means more than 600,000 of the most vulnerable pensioners will benefit from a £120 discount to their fuel bills.
9. Even after the changes in the Budget, half of those over 65 will not pay tax in 2013/14.
10. Because of the recent Budget, nobody will pay more tax in 2013/14 than 2012/13 as a result of the new tax measures.
dr david hill
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