https://twitter.com/ByDonkeys/status/1726277386658890110?s=20

Quite how the Tories can even be considering tax cuts is completely beyond me ... literally just buying votes.

Apparently, less than 4% of UK would ever pay Inheritance Tax (IHT) but more than 30% of people think it's unfair - the most hated tax - ideological resentment.

If IHT is abolished, that's a loss of £7 billion ... just think how much good that could achieve!

Inheritance Tax explained :

- Everything left to spouse is EXEMPT from IHT.
- Zero IHT on the first £325k of your estate left to others.
- Zero IHT on the first £500k of your main residence passed to your kids.
- Unused allowance is passed to spouse (so they could leave £500+£500=£1m) to kids.
- Gifting rules can reduce IHT.

https://twitter.com/MartinSLewis/status/1726669884258500788?s=20

https://twitter.com/PatMillsUK/status/1726937470330151199?s=20

Clear explanations ... tldr; FISCAL DRAG >

Missing from the news coverage and even podcast analysis, the B-word ...

Brexit had already cost the UK 1% of GDP before it even left the EU, 2-3% after the transition period, rising to 5-6% by 2035 = £2,300 per capita! (OBR forecast = only 4%).

This is all on top of the massive spike in inflation caused by Ukraine, the high interest rates, and Covid. Every other economy has had to deal with those, but the 5-6% of GDP lost because of Brexit is on top of all these other costs and is unique to the UK.

https://www.theneweuropean.co.uk/a-new-report-reveals-the-huge-and-lasting-economic-costs-of-brexit/

Oof ...

Many of Britain’s deep-seated problems – a broken economy, hollowed-out public services, falling living standards, the doubling of child poverty – can be traced to the way the economy has been turned into a cash cow for the already rich.

... nine-tenths of all national assets and infrastructure are privately owned, making Britain one of the most privately-owned economies.

https://www.theguardian.com/inequality/2023/nov/27/uk-spends-more-financing-inequality-in-favour-of-rich-than-rest-of-europe-report-finds

Zoe Gardner is great. ✊  https://twitter.com/ZoeJardiniere/status/1728031092764966920?s=20

https://thelead.uk/conservative-con-immigration

https://soundcloud.com/user-875656945/dawn-of-the-migrants

I'm not a fan of the jeering cut & thrust of Parliament - it would not happen in any other workplace, and can be very toxic - but hey, I don't make the rules ...

https://twitter.com/ThatTimWalker/status/1729846478963605928?s=20

BoJo 🤡 has nowhere to hide... 

~£300 million spaffed up the wall to try to send 200 illegals (out of ~20k) per year to Rwanda, when there is this mess to sort out ...  https://twitter.com/carolvorders/status/1732328574982472149?s=20

Source: Child Poverty in the Midst of Wealth (UNICEF)

Key findings

→ Slovenia, Poland and Latvia at the top of the ranking.
→ The UK, Türkiye and Colombia are at the bottom of the ranking.

Overall, the percentage of children who live in poverty dropped by 8% – which translates to 6 million fewer children in poverty. However, the rates of child poverty vary. For example:

→ In Denmark, Finland and Slovenia, 1 in 10 children lives in poverty.
→ In Bulgaria, Colombia, Italy, Mexico, Romania, Spain, Türkiye and the USA more than 1 in 4 children lives in poverty.

Some countries used period of general prosperity to address child poverty, while others let the opportunity pass. For example:

→ Poland, Slovenia, Latvia and Lithuania reduced child poverty by 30-38%
→ France, Iceland, Norway and Switzerland saw increases in child poverty of 10%
→ In the United Kingdom, child poverty increased by 20%

Tim Harford is knocking out of the park lately, with his nuanced on-point articles.

https://timharford.com/2023/12/what-the-data-shows-about-the-uks-public-services-doom-loop/