Send a check to the poorest Brits and don’t raise corporation tax, George Osborne tells Rishi Sunak
Former Chancellor of the Exchequer George Osborne is confident a windfall tax is coming, despite rows between Numbers 10 and 11, while saying he would post a check to the Kingdom’s poorest families -United.
Moreover, he disagrees with current Chancellor Rishi Sunak on the proposed corporate tax increase.
Journalist Andrew Neil asked Osborne on his Channel 4 show if there should be a windfall tax.
Osborne replied, “I’m sure there will be one although it’s interesting. I think that doesn’t help massively.
He said, “I think he [Sunak] will do one, but I have to say that it does not really solve the serious financial problem that the country will have over the next two or three years.
“It’s a one-time cash grab. You have an interesting dynamic where, apparently, number 10 doesn’t want it and number 11 does.”
When discussing how Sunak can support families during the cost of living crisis, Osborne said he will be mailing checks to the UK’s poorest families.
“You can use municipal tax bills to basically send people checks, much like they do in the United States. And I think that’s probably the easiest way to help people without getting into the intricacies of the whole benefit system. You just send a check to low-income and middle-income households in the mail,” Osborne said.
He added: “I don’t know if universal credit is the best instrument, but I would definitely target lower income support.”
Osborne disagreed with Sunak’s proposal to raise corporation tax next year.
“Of all the decisions Rishi Sunak has made, this is the one I disagree with and publicly disagree with. I thought cutting corporation tax was a way to show the world that Britain was open for business.
He added: And, although other countries are now increasing corporate tax, which is in a different context, that’s not what I would do, but he has to make his own decisions.