Do budget cuts really impact low-income families the most?
While in many ways the coalition government is damned if it does and damned if it isn't with regards to taxation and budget cuts, there is growing concern that budget cuts already announced have impacted upon low-income families far more than those on higher incomes. In monetary terms the difference in income for those in low-income households may be only a fraction of those on higher incomes, but as a percentage of their overall income it does seem to be disproportionate.
However, while there is a need to protect those on low-income there is also a need to protect those who are ultimately the oil in the wheels of the UK business arena. If we push away "rich" business entrepreneurs then who will take the chances when setting up new businesses in the future and who will create new employment positions?
The question itself is fairly easy to ask but the answer is something which has evaded governments over the years and still does to this day. Biting the hand that feeds the UK economy does not make sense but reducing the income of those at the lower end is also not the answer.
Share this..
Related stories
Recycling your unwanted Christmas gifts
As we covered in one of our recent articles, each and every person in the UK is likely to have received a gift(s) which was either unwanted or will remain unused for many years to come. As a consequence, sites such as eBay have seen a massive increase in gifts listed for sale at knockdown prices with many people desperate to get their hands on cold hard cash. This is one of the more simple ways...
Read MoreComplain, complain, complain
How many times over the last 12 months have you bought an item or paid for a particular service which you have found to be substandard? However, how many times have you actually complained?
If you were to revisit the number of items you have acquired which were substandard or services you have paid for over a 12 month period it is highly likely you will have spent hundreds if not th...
Do You Really Need A Car?
On the back of our recent article about car insurance and the fact that premiums are forever on the rise, have you ever considered whether you actually need a car? Do you really get value for money for the road tax, car insurance, maintenance costs and fuel that you use?
Even though the UK has one of the better public transport networks in the world there are still a number of areas...
Brits discounting discount savings
Around 13 million British people are losing money because they are not taking advantage of discounts offered to them by energy suppliers, new research has shown. According to uSwitch, some £830 million is wasted by Brits not taking up special discount offers on their energy bills. It is calculated that customers could cut their bills by as much as £142 per year if they took up discounted plans a...
Read MoreNow The Kids Are Suffering As Pocket Money Falls
As the economy continues to struggle it seems as though even the youngest of society are struggling with news that children's pocket money has fallen for the third year in a row. A report by Halifax has shown that on average kids in the UK are nearly 25% worse off than last year and falling well behind the rate of inflation.
The survey confirms that the average pocket money payment...
