Friday, April 29, 2005

Curate's egg economics

"IFS FIGURES SHOW 7 OUT OF 10 HOUSEHOLDS BEST OFF UNDER THE LIBERAL DEMOCRATS"
Headline on Lib Dem website

Which is of course absolutely true. Vince Cable is quoted saying "The IFS have clearly stated that 70% of households would be financially best off under Liberal Democrat plans, compared to those of the Conservatives and Labour".

Now lets have a look at those figure from the Institute of Fiscal Studies (pge 19) and see what they say.

Out of the seventeen different categories of household people will be worse of under the Lib Dems in 9 of them. This includes every category that includes an earner. The only people who are better off under the Lib Dems are those who do not earn.
In the case of Labour we se the same 8 categories worse off, again all the earners are penalised (except in Labour's case a couple with no children and only one earner).
In the case of the Tories, every single one of the categories is better off. On average £188 pounds better off per annum than under the Lib Dems, and £189 better off than under Labour.

Or as today's Telegraph puts it "Everyone will benefit under Tory fiscal plans, says think-tank"

2 comments:

Snafu said...

I'm sorry but I fail to see where this seven in ten gain under the Liberal Democrats is to be found!!

Elaib said...

That'll be all the people put out of work due to their other policies I guess, nah, its too late to parse logic, so they fibbed in the headline too, how suprising.

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