Thursday, October 21, 2010

"We are all in this together" – pull the other one...

Tory Chancellor George Osborne keeps saying "we are all in this together" as if we are all sharing the pain of the deficit reduction. Less than a day after his ruinous Comprehensive Spending Review the independent Institute of Fiscal Studies (IFS) have shown this to be a lie.

The full IFS briefing materials can be found here. But the real story can be shown quite simply by looking at the graph above.

The key test is how the cuts affect people as a proportion of their income – the graph shows a number of things but the thing to look at it the white line. This shows the cuts per income decile as a proportion of income (the axis for this line is on the right). This shows that those on lower incomes suffer more that those on higher incomes.

Clearly we are not "all in this together."

What we have is a millionaire Tory Chancellor, in a Cabinet of millionaires, looking after the interests of millionaires.
(Thank East Mids colleagues!)