The following mathematics are used to back up the manifesto proposals, the information is taken from publicly available information in Budget 2008, data from page 194 onwards.
Proposed Changes to Budget 2008 Expenses
Social Security: 2008 expenditure of £138.5 billion. This will be massively reduced with a final estimate of £10 billion, as system will eventually be replaced by private insurance.
Tax credits: 2008 expenditure of £17.1 billion. This will be scrapped, why take to give back? Lower taxes eliminate the need for this.
National lottery: 2008 expenditure of £0.9 billion. This will be scrapped, the National Lottery can afford any costs out of it’s takings.
Children, schools & families: 2008 expenditure of £44.9 billion. This will be separated & only the funding for schools will remain government funded, amount unknown.
Health: 2008 expenditure of £89.2 billion. This figure highlights difference between expenses & NI collections (see incoming finances).
Justice: 2008 expenditure of £8.9 billion. This amount will be written off, as these expenses should be paid for by convicted criminals or those making false accusations!
Total amount removed from expenses
£128.5 billion + £17.1 billion + £0.9 billion + £89.2 billion + £8.9 billion = £244.6 billion.
Proposed Changes to Budget 2008 Collected Taxes
Income Tax: 2008 incoming amount of £155.6 billion. Eventual 10% tax rate gives a lowest figure by current levels of £39 billion.
NI: 2008 incoming amount of £97.4 billion. Notice that NHS spending is put at £89.2 billion, £8.2 billion less than is collected!
VAT: 2008 incoming amount of £80.5 billion. This figure will be assumed to remain stable, but is likely to increase as people will have more money to spend.
Fuel duties: 2008 incoming amount of £24.9 billion. The current government percentage take is 50.89%, when the fuel tax has been gradually reduced to it’s final percentage rate of 17.5% this amount will be reduced to £8.5 billion.
Inheritance tax: 2008 incoming amount of £3.9 billion. This will be scrapped as tax has already been collected on that money!
Total amount removed from collected taxes
£116.6 billion + £97.4 billion + £16.4 billion + £3.9 billion = £234.3 billion.
Summary
Total outgoing wiped off budget by proposed changes = £244.6 billion.
Total incoming wiped off budget by proposed changes = £234.3 billion.
The difference between the two leaves £10.3 billion surplus, before the ‘children, school & families’ allowance is separated & the money going to academic study only!