“Deficit reduction remains the primary economic aim of this parliament” (Telegraph)

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.”

 Click here to view the full article

Date Added: Wednesday 14th March 2012