The economy

Fact checks about the economy, covering levels of inequality, prices, taxation, employment, unemployment and housing across the UK nations and regions

7 April 2022

Keir Starmer wrong to suggest taxes aren’t rising on stocks and shares

While income from stocks and shares isn’t subject to National Insurance, dividend income is subject to dividend tax which is increasing by the same amount.

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Keir Starmer wrong to suggest taxes aren’t rising on stocks and shares
1 April 2022

2,612% rise in food bank use under David Cameron needs context

The Trussell Trust did provide about 27 times more food parcels at the end of David Cameron’s time in office than it had at the beginning—but this doesn’t mean food …

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2,612% rise in food bank use under David Cameron needs context
29 March 2022

Chris Bryant wrong on 0% EU VAT for heat pumps

Labour MP Chris Bryant also claimed that VAT exemption on solar panels already happens in the EU. This isn’t quite true.

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Chris Bryant wrong on 0% EU VAT for heat pumps
25 March 2022

The House of Lords’ daily allowance is about what Universal Credit pays in a month—but peers don’t get it every day

This is the daily allowance for doing parliamentary work in the House. However, not all Lords can claim it, or do.

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The House of Lords’ daily allowance is about what Universal Credit pays in a month—but peers don’t get it every day
18 March 2022

Why is petrol more expensive now than it was 15 years ago?

International oil prices recently reached similar levels to 2008, but pump prices haven’t dropped to what they were back then.

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Why is petrol more expensive now than it was 15 years ago?
15 March 2022

Social media posts overestimate how much tax is on petrol and diesel

Claims are circulating that £1 per litre is now taken in taxes, but it’s more like 80-90 pence for fuel duty and VAT.

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Social media posts overestimate how much tax is on petrol and diesel
9 March 2022

Government has not backed up Russian sanction claims

The Foreign, Commonwealth & Development Office said it has sanctioned Russian bank assets worth more than those sanctioned by the US or EU—but hasn’t explained how it reached its figures.

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Government has not backed up Russian sanction claims
8 March 2022

£24bn in extra defence spending will be spread over four years

The Institute for Fiscal Studies has previously described the practice of adding up multiple years of spending increases as “misleading”.

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£24bn in extra defence spending will be spread over four years
23 February 2022

Viral tweet on wealth tax generating £250 billion for NHS is misleading

A campaign group estimated £250 billion could be raised globally by a financial transaction tax, with £20 billion being raised in the UK.

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Viral tweet on wealth tax generating £250 billion for NHS is misleading
23 February 2022

Boris Johnson repeats misleading claim on number of people in employment

The number of people in employment is down since the pre-pandemic peak, while the number of employees (not counting the self-employed) is up.

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Boris Johnson repeats misleading claim on number of people in employment

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