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Posts Tagged ‘Owen Smith’

Today saw the formal launch of Owen Smith’s Graduate Tax.

For reasons that only he knows, he’s proposed a threshold of £15,000. This is six thousand pounds lower than the threshold used for post-2012 Tuition Fees. What this means is that under Owen Smith’s system – graduates earning less than £21,000 would once again be paying towards their higher education.

Smith outlined the Graduate Tax would be an income tax surcharge of 1-2% of income. So someone earning £21,000 would now be paying between £60 and £120 in Graduate Taxes. This despite them paying nothing under the current system. This stealth tax on the poorest graduates means that the tipping point where someone is better-off under the Graduate Tax may be as high as £22,700.

And remember, as I outlined earlier this week, they would paying these extra taxes for no good reason due to the inherent flaws in a Graduate Tax.

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Will Cooling looks at how the Labour Party has yet to come to terms with how Brexit has exposed a fundamental rift between its middle class and working class supporters. This inability to appeal to all of its supporters is (rather than Jeremy Corbyn’s leadership) the real reason the party’s very existence is at risk.

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