Sunak can find the cash when it comes to pensioners. The question is, who will he make pay the price?
The FT features a story in all the papers this morning, highlighting Sunak’s bung to pensioners, who are the only group left in society likely to favour the Tories:
Three thoughts.
First, as with the ludicrous conscription idea, it seems that Sunak can find the capacity to spend when it suits him.
Second, this is not a tax cut. It is a lifting of allowances to prevent tax being paid. Given that the state pension system is not set up to deduct tax at source, in pure admin terms this makes sense.
Third, why is it only pensioners who need protection from fiscal creep?
I expect Labour to copycat this.
Both parties need to be asked who they will penalise as a consequence given their utterly unnecessary dedication to balanced books.
The lack of need to penalise anyone needs to be highlighted by interviewers.
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