I doubt that this is what he means to do but here are his figures:
In fact, the bottom 25% of earners pay just 2.3% of all income tax between them right now, and the bottom 10% just 0.4%.
Excellent. So it will be piss easy to take those working poor out of the income tax net because we’re not getting much money from them anyway. 2.3% is around and about the sort of efficiency saving that any private business would be looking for in any one year. So, as I say, piss easy to do, just raise the income tax allowance to the minimum wage. It’s going to be very cheap indeed to wipe away that moral stain that we tax the poor to pay the Miliboy’s wages.
Otherwise cut the taxes that impact the poorest more, like national insurance – See more at:
Quite, as we also argue: raise the national insurance limit to the minimum wage as well.
Good to have you on board Ritchie!