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Wednesday 14 May 2008

Unfunded tax cuts

I blogged yesterday that:

"One more thought, the next time a Government minister rabbits on about unfunded Conservative tax cuts or the "black hole" in the Conservative budget, remember today when they found £2.7bn "just like that", where was this money, down the back of Number 10's sofa?"



Not Proud of Britain (but would like to be) puts this quite nicely:

"Number Crunching

£3.1bn: Cost of Conservative inheritance tax proposals condemned by Chancellor Alistair Darling as "an example of where the Tories are making promises on tax which they can't afford to pay for" in October 2007. "If you do that, you create the very instability which is the last thing the economy needs and people in this country would pay for that."

£2.7bn: Unfunded income tax cuts proposed by Chancellor Alistair Darling eight months later. "the measures would be funded through borrowing so as not to take money out of the economy while it was slowing.""

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