The Centre for Policy Studies 21 Policies featured in an analysis article by James Hall, Daily Telegraph.
“The right-leaning Centre for Policy Studies (CPS) said that George Osborne could save £2.1 billion by only giving the handouts to pensioners who can not afford to pay for the services themselves….
The suggestion to means-test the benefits is part of a 21-point Budget manifesto that the CPS said will lead to “growth and wealth creation”.The CPS said that next week’s Budget should cut spending in areas which “do not enhance medium-term growth” and use the savings to cut taxes.
Suggestions to raise money include abolishing higher-rate tax relief for people paying into a pension, which would gain the Treasury £7 billion, and tightening up stamp duty evasion, which would raise £150 million, the CPS said.The CPS said that Mr Osborne should increase the income tax personal allowance to £9,000 this year and to £10,000 next year. This figure, which is the amount of money that a person is allowed to keep before paying tax, currently stands at £7,475 but will rise to £8,105 when the new tax year starts in April.
“Deficit reduction remains the primary economic aim of this parliament,” the CPS said.”
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Date Added: Wednesday 14th March 2012