So, Ritchie tries a calculation:
According to the FT:
Mr Cameron will use his Downing Street press conference to claim that Labour would put up taxes by £3,028 for every working household — a calculation based on a 50:50 split between higher taxes and spending cuts to eliminate a £30bn structural deficit in the next parliament.
I admit I cannot see any logic to this claim.
There are about 65 million people in the UK and about 31 million income tax payers. The average household has, according to the ONS, 2.3 members. So there are about 28.3 million households.
Between them these households have to pay in tax £15 billion extra according to the Conservatives. That is, if that need is correctly stated (which I dispute), £530 a household.
Even over five years it does not come to £3,028 a household.
This claim looks to be very straightforwardly wrong.
Hmm. Well, the number of households isn’t far off. However, he’s forgotten that “working” bit.
Some 16% of the population are pensioners. Not exactly right to call that households but it’ll do. And some 16% of working age households are not working.
28 million households x .84 x.84 gives 20 million to our level of accuracy. Looks like that might actually be an underestimate of the amount each working household has to pay. We get much closer to Cameron’s number if we don’t adjust for pensioners but do for working/non-working households. Or vice versa actually.