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The Rest Is Money
66. The Conservative Manifesto: what would they do with your money?
Jun 12, 2024
Exploring the Conservative Manifesto's financial strategies, tax cuts, and proposals for national insurance. Analysis of sick pay, self-employment, and the Tory party's triple lock plus. Discussing tax-paying seniors, election dynamics, childcare benefits, and welfare savings. Comparing Conservative and Labour party manifestos in terms of length and promises.
45:51
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Quick takeaways
- The Conservative Party plans to reduce employee national insurance rates to 6%, aiming to boost employment with an annual benefit of £450 for £35,000 earners.
- Contrast between inflation-based tax-free allowance increases for retirees and frozen thresholds for workers raises concerns about tax policy fairness.
Deep dives
Tax Cuts and Funding Sources
The podcast delves into the Conservative Party's tax cut proposals, emphasizing a reduction in employee national insurance rates to 6%. This move aims to encourage more people to work by cutting national insurance and providing an annual benefit of around £450 for a £35,000 salary earner. However, concerns are raised about the sustainability of funding sources, particularly the targeted £17 billion tax cuts, relying heavily on welfare savings of £12 billion annually and tackling tax avoidance to generate £6 billion per year.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode