How Coalition Has Helped Rich by Hitting Poor

A study of the coalition’s tax and welfare policies reveals how money has been transferred from the poorest to the better off, apparently refuting the chancellor of the exchequer’s claims that the country has been “all in it together”. According to independent research, George Osborne has been engaged in a significant transfer of income from the least well-off half of the population to the more affluent in the past four years. Those with the lowest incomes have been hit hardest. The report also claims that the transfer of funds from the poorest half of the country to the more affluent did not contribute to deficit reduction. It says: “The revenue gains from some tax changes and benefit cuts were offset by the cost of tax reductions, particularly the increase in the income tax personal allowance.” Read more on the Observer website.