Will Labour Increase Tax by £2,400 to Cover £1.2 Trillion of Spending? - TLDR News

In recent days the Conservative party have begun to claim that Labour's spending plans would cost the UK £1.2 Trillion and the average taxpayer £2,400 a year. In this video we dive into those claims, look at the data behind them and evaluate how accurate they seem to be.

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[d.b.]

Brits: "It's only been a week and they're going at it already"

Americans: "It's been a whole year and there's another year to go, make it stop please"

[petermahfouz]

It'll be nice if you can make such a video concerning all parties! I think it would be nice if you could do a single video where you summarize the principles of every party

[peteradaniel]

Why are we nearly two weeks into a 6 week election campaign and no one has published a manifesto?! I don’t understand why we go into general election so badly prepared? TLDR please explain.

[jamesmacd]

1:27 that's 1 billion 2 hundred million btw needs 3 more zeros on that bad boi

[richard]

Suggestion, video on the Lib Dem’s misleading use of a recent poll to suggest the Lib Dem’s are a second largest party in that area. Why it’s wrong and why it’s not? That kinda thing, unless you’ve already covered this?

[chips]

Please cost all parties when we have the manifesto printed for each one. Thanks

[CEWDICU]

Have you done a video explaining the rules of political advertising in the UK? If a 'pressure group' or political affiliate makes a advert that is loose with the facts, what, if any rules are there?

[AwesomeShamik]

Has everyone forgotten about Boris's NHS bus?
How is anyone even trusting a single word coming out of his mouth?

[DSteerTV]

Note on the video: You have been writing 1.2billion (£1, 200, 000, 000) not 1.2trillion (£1, 200, 000, 000, 000) xD 4:00 2:34 1:29 also sort your layering or composition out, you still have images popping in front of text. That being said, informative video still and I've left a like :)

[JimNH]

we should just ask Dianne Abbott to calculate it

[macstmanj]

"Misleading" is a nice way of saying complete bollocks

[Grimfang]

Couple points I want to add:


1) It also assumes all renationalisation schemes will be immediate buybacks, but some, such as the rails, are leased out to companies every 5 years, so renationalisation of the rails will just be about not redoing the contracts and compensating for the capital, a fraction of the price.


2) Even without tax increases, additional spending is not a bad thing for an economy as long as its well invested. Government spending does not simply disappear but pays back into the system, and well spent government investment can increase the amount and speed of trading, increasing the amount of money travelling through peoples, and the governments, hands. In other words, the investments will likely see very quick returns in the way of higher government revenues within a matter of a couple of years, and even pay dividends.


If people want to learn what Im talking about, look into the principles of the keynesian multiplier and money flow as economic concepts, as well as how the UK ran the economy 1945-1980 to massive success.


The plans ARE viable, and dont even need to be costed. Even if it were largely borrowed, much of the promised spending is practical and in areas which will be optimal for stimulating economic growth. I have confidence that this will see returns very quickly.

[nestrior]

That's just so typical conservative rhetoric. "We can't afford to expand spending on social systems." (Which definitely are included in those numbers.) What was that about spending more on education and the NHS again? They are throwing out numbers without knowing anything to create fear. Will it work? For some. But everyone else should pause for a second and how they can know that stuff when Labour has published nothing. We could also argue about the yearly loss in pays after Brexit by that merit.

[_b-e-n_]

It's absolutely ridiculous that this is even a point of discussion before a manifesto has been released. All people are doing is falling for the Tories' bait

[respublica]

I don't know what is worse, increasing taxes to cover your spending or be dishonest and use money you don't have.

[dasprojekt]

Creating this Taxcalculator is a very smart move. Well done, Labor

[adam]

It is really unsettling and not at all conducive of a large degree of trust towards politics seeing, how politicians exploit peoples seemingly poor understanding of taxation system. Whenever I come across a news scaring people with high taxes, it just break down once you understand the brackets. And usually it’s the highest earners both scaring and trying to avoid paying higher tax. Is this really so hard to conceive of a notion, that well supplied public infrastructure can help the society at large so much?Sometimes I wonder if there is something I don’t understand as neither I nor anyone in my immediate surroundings even touches on the highest tax brackets, thus I might be unaware of a daily reality of such individuals and how their lives might be affected, but again find it hard to believe it would change that much for the worse.

[envysart]

Can the Tories not wait until after the labor manifesto is released before they start lying about it?

[ksbfrdn]

how do you not notice that your 1.2 trillion is missing 3 zeros every time it is displayed on screen?? 😂🤦‍♂️🤦‍♂️

[slightlytwistedagain]

I'm no supporter of Labour but even I can tell the calculations are as misleading as Boris' claim that his brand new EU treaty is getting Brexit done.