A tax cut too far
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.If Gordon Brown, the Chancellor of the Exchequer, has £10bn more in the kitty than was previously expected, there are several good things on which he could decide to spend the money.
If Gordon Brown, the Chancellor of the Exchequer, has £10bn more in the kitty than was previously expected, there are several good things on which he could decide to spend the money.
He could cut income tax on the low-paid, thus continuing to "make work pay" for soon-to-be-fewer-than-1 million people unemployed and claiming benefit. He could also increase the state pension for poor pensioners (while clawing the rise back from the better-off). And he could continue to pay off more of the national debt, which is a prudent long-term objective for an ageing nation.
The one thing he should not do, however, is clear. The last thing he should spend the fruits of economic growth and sound budgetary management on is cutting duty on petrol and diesel. These taxes raise valuable money while suppressing pollution and congestion. Next week's pre-Budget report will test the metal of this Iron Chancellor.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments