Back in the election campaign the non-dom tax, new private equity rules, and levying VAT on private schools were touted as Labour’s main revenue-raisers for all of its manifesto commitments. Remember that?
The Telegraph has dug out a video from the IFS in which director Paul Johnson spells out what the policy actually means for the Treasury’s coffers. Zilch…
Johnson was promoting a report from the think tank which predicted the taxman would at least take in more from the policy that it would lose – a proposition contested by numerous other reports. As Guido revealed last month the report was literally written by the best man of the minister implementing the tax…
Even Johnson couldn’t hide how useless the tax grab is for revenue. He says it will not make “any real difference to the amount of money available” for state education, will raise “a tiny, tiny amount of money,” and that the public should not “be fooled into thinking this is going to make any real difference to the amount of money available for public services.” Back to the blackboard…
Robert Jenrick on the Today programme:
“Can you now give a guarantee to your listeners this morning that no BBC presenter in the future will be exposed as a paedophile, as a number have been in the recent past? No, of course you can’t…”