Which Promise Will Get Broken?

A look at the three main pledges made by new government. It looks unlikely all three can be met, so which pledge should be broken?

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[plagiarisedwords]

Labour were careful to say which taxes they would not increase and to say no extra tax burden on "working people" which they have defined as low - medium income families.
Most people dont pay CGT, inheritance tax, use limited companies to reduce tax, earn money via carried interest. So labour will almost certainly raise taxes on these. St a time of stretched national finances why should a nurse pay a higher % of tax than a private equity partner

[royturner]

Something to note: increase health and other essential public sector wages and this feeds back into the economy. Cost of wage rises isn’t just an expense.

[UnlikeMitchell]

157 billionaires in the uk pay between 0.5-1% tax…. Tax inequality is the biggest thing that is affecting the working classes. Why should I pay 20% when they don’t even pay a tenth of what I pay…

[rogeroliver]

The debt limit will be the first to go: getting it down by the end of this parliament is an arbitrary target that has little resonance with the public. And secondly "unprotected" taxes such as inheritance taxes and capital gains taxes will rise

[carltontweedle]

I hope they show where all the money has gone over the last 14 years. Who gained who lost and who needs to go to jail.

[lh]

I would rase tax to cover all the day to day such as police, nhs defence and everything we need but then take on more debt for anything to boost growth infrastructure, research and development so a mix of both, but public services cannot go down any further it's been cut to the bone anyway

[alanjewell]

I don't mind paying more tax if I can see the benefits. And trust the government will spend that money responsibly. I do trust this government, unlike the Tories that just handed it out to their mates & squandered it on HS2 etc.
High taxation & good public services is the sign of a progressive & civilized society. Just look around the world & decide which kind of country you'd prefer to live in.

[williampatrickfagan]

Improving public service in short term will pay dividends in the long term.
A stitch in time, saves 9 etc.

[millwow]

I'm reckoning reformed council tax bands and CGT aligned to income tax bands are on the horizon. These weren't explicitly ruled out and feel like the biggest hitters outside of the taxes they've ruled out.

[grimaffiliations]

The UK's World war 2 government inherited a far worse fiscal situation due to the depression, and still managed to fund and win the war. The post war labour government inherited a worse fiscal situation and still put together some of the most ambitious fiscal programs in history. This labour government can do everything they promised and more

[arandmorgan]

Tax rises should be administered. People are quite happy to part with taxes as long as the money is spent responsibly.

[Pentagathusosaurus]

When calculating the cost of public sector pay rises is the directly increased income tax revenue from these workers usually accounted for?

Obviously it doesn't remove the cost of pay rises but it surely isn't insignificant.

[stuartporteous]

Delete fiscal rules, borrow as much as necessary to drag all public institutions out of the gutters and function efficiently.

[danicagrahek-ogden]

Did they say no to all tax raising or just some taxes?

[Smith]

I know, let’s end poverty completely. Stop Government borrowing, directly create currency instead of bonds, make it legal tender and ban fractional reserve banking and ban banks from creating money as debt.

[OneMystified]

You omit one way out of the problem, which is to grow the economy, firstly by mutually reducing all trade regulations with the EU, secondly introduce trade restrictions on countries that unfairly trade with us through currency manipulation and other practices that undermine British industry, the economy has been completely hollowed out since the 1980s, it needs to be reversed.

[mrmeldrew]

The freezing of the tax thresholds until 2028 in addition to the baked in inflation will ensure we are all kept in our place.

[uweinhamburg]

Tax, services, debt - which will it be?
Debt is the easiest to break, the former government with their debt record just cannot complain.
Tax, a bit more difficult, the public is very sensitive about it and will only accept NIMBY tax increases, so none of the big taxes except perhaps some limited increases for the top 1% earners or a luxury tax for a few products.
Services? What the hell could Labour save here?

So my guess - pretty strong debt increases, moderate tax rises and no reduction in services, perhaps even small improvements here..

[willyhill]

The number one priority of the previous and current Government is to pay for mass immigration (legal or otherwise) so to pay for it as we are seeing already there will be cuts to services and tax increases.

[warfishr]

Debt will have to go up. If you inherited a run down hotel, you wouldn't try to make money by renting out rooms before you fix the massive holes in the roof. Equally, you wouldn't borrow money and replace the carpets before the roof... It's not a question of whether we fix health care, prisons, poverty or not, these are non negotiable to operation of the country.