Tory Shell Games
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Good news:
http://www.bbc.co.uk/news/uk-politics-25869001
Quote:[The Government] has produced figures showing all except the richest 10% saw their take-home wages rise by at least 2.5% once tax cuts were taken into account.That is more than the Consumer Prices Index (CPI) inflation rate of 2.4% in the year to April 2013.
Now, a whole 0.1% real terms pay growth? When the economy is meant to be growing towards 2% this year? So, our share of the national product is falling, and given wages have fallen behind inflation for the previous four or five years, the Tories expect us to be glad we haven't been mugged this year. Anyone would think an election is coming. Also, do their calculations include the increase in VAT that they imposed all those years ago?.
This is the point of the Shell Game, it doesn't matter in real terms whether people have seen wages rise or fall, the stats will allow their spokespersons to say wages are rising, living conditions improving,. and any hair splitter who tries to analyse the stats will be accused of bad grace wanting to talk the economy down, etc. The reality will be lost in the chaff thrown up by the Tory lie machine.
According to the research pay went up for everybody but the top 10% who failed to match inflation. Of course that would be the case for those who are wealthy enough to have accountants and financial advisors.They were advised that the 50% rate will be replaced by a reduced 45% rate so defer income (for example, dividends and bonuses) into 2013/14 to benefit from the reduced rates. Having been told by Osborne in advance of the change the top 10% switched money from the year ending in April 2013 (the year conveniently chosen by Cameron) to the following year. The object – to avoid taxes. No surprise then that the income of the top 10% in that year failed to beat inflation. So this little trick of shifting income to the year before the higher rate was introduced – to justify the reduction in the rate to 45%; now they are using the same income numbers (as manipulated by the rich to save taxes in the year to April 2013) to say how poorly they did as a band compared to the rest of the country. OH how sad for those on £150,000 plus – Smoke and mirrors.
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