"The IFS is studiously neutral when it comes to politics, which lends it extra value when the Government has swapped analysis for spin."
City Comment, Daily Telegraph
If this is what the staunchly Tory supporting Daily Telegraph is saying about the Institute of Fiscal Studies then we can safely assume the Forty something research group has a cast iron alibi when it comes to charges of bias.
It’s important to establish this group’s credibility as what they have to say about Gideon’s Blood Bath Budget is profoundly shocking, but alas not surprising given the Tories lamentable record on poverty over eons and eons. What did Nick Clegg really expect when he jumped into bed with the Nasty Party? Although my instinct would be to say to Lib Dems “what did you really expect?”, but the reality is most would consider themselves to be progressives and they must be spewing that they voted for a Party that has taken part in such a deliberately targeted regressive Budget.
The IFS says in a report published to day that the Coalition Budget works out like this; “the country’s least well-off families face cuts equivalent to 21.7% of their household income. That means they will be hit six times harder than the very richest by the coalition’s deficit-cutting measures.”
It goes on to break the figures down thus; “the poorest 10% of households, earning under £14,200, will see a cut equivalent to more than one fifth of their income. By contrast the richest, those earning over £49,700, will suffer a cut of just 3.6%. The second poorest group in the country – households earning £14,200 to £16,900 – face cuts of 13.6%, with about 7% for those in the middle of the spectrum.”
Absolutely horrendous. Most of the reforms that we put into place such as tax credits and the hike in child are pro poor. The Tories cuts are anti poor and pro rich. Simples. Why do they do it? Because they can, and they actively enjoy it due to their in built contempt for the poor and their philosophy that those of us who are out of work benefits through no fault of our own are sponging leeches, and they don’t see why they should “pay” to help the vulnerable.