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Will taxes rise post Brexit?

(21 Posts)
WhenSheWasBadSheWasHorrid Fri 01-Jul-16 22:19:21

Just that really.

I can't see this being the end to austerity. If anything there will be less cash coming in.

Will income tax increase? Is that a good thing?

ItsAllGoingToBeFine Fri 01-Jul-16 22:22:12

Yes taxes will probably rise - no not a good thing - we'll have austerity as well - but the tax raises mean our economy will topple of a cliff slightly more slowly.

BeakyMinder Fri 01-Jul-16 22:25:29

Income tax won't rise because Tories prefer a) stealth taxes that people don't notice as much b) saving money by closing down public services.

GettingScaredNow Fri 01-Jul-16 22:27:42

Undoubtably.

Everyone knows we were paying into the EU but very few seemed to have realised how much we took back out of the EU pot.
That money has to be replaced.

Your income will have more tax taken off it.
Your shopping will likely have a VAT hike applied.
Import duties will likely be hiked aswell so that will be reflected in prices.

ceeveebee Fri 01-Jul-16 22:29:05

They'll be a drop in tax revenues if(when) all the bankers and multinational companies move to Dublin or Frankfurt and we lose all the tax revenues from their profits and their highly-paid employees. So either tax rates will increase or costs will be cut, probably starting with benefits

WhenSheWasBadSheWasHorrid Sat 02-Jul-16 08:27:12

I'm thinking both tax rises and cuts will be needed.

I would quite like to see slightly higher taxes. As I think our public services do need more investment in the longer term.
Just worry that higher taxes could dampen the economy.

specialsubject Sat 02-Jul-16 21:47:56

We need to pay more tax and have needed to do so for years. Population rising, same budget - not working . surprised?

That's the urgent action. Personal allowance the same but income tax to rise. We need more money whatever happens.

The sacred doctrine of growth isn't all that.

Spinflight Sat 02-Jul-16 21:50:38

John Redwood proposed a Brexit budget...

www.theguardian.com/commentisfree/2016/apr/14/british-austerity-brexit-budget-nhs-disability-benefits-property

Seems like mainly tax cuts.

Just5minswithDacre Sat 02-Jul-16 23:24:55

What we need is someone with vision to lead us on a 'spend our way out' mission, reinvigorating British industry and tackling the skills and training gap in the process.

I'm watching the Labour leadership fiasco like a hawk, praying the right person emerges.

The two parties couldn't have thrown themselves into greater chaos this week.

Spinflight Sun 03-Jul-16 00:35:14

The chaos in the parties is good, unfortunately they've been self selecting the wrong people for 40 years and it shows.

I rather agree though, an old fashioned labour government using the current historical low cost of borrowing to rebalance the economy more towards the disenfranchised who voted leave would be a good thing.

If the two supposedly major parties ( I can't help feeling there is a chance this is merely a historical description) elect London centric PR drones rather than people with some vision of a better society then the chaos will only continue.

Just5minswithDacre Sun 03-Jul-16 00:38:53

It seems to be taking so long.

What is Corbyn waiting for?

Just5minswithDacre Sun 03-Jul-16 00:41:36

* If the two supposedly major parties ( I can't help feeling there is a chance this is merely a historical description)*

smile

I'm not sure the country can actually cope with the two party system dissolving ATM.

pastygothboy Sun 03-Jul-16 00:45:45

Yes.

We will have tax rises and spending cuts.

But that's OK, because we are entering a new era of freedom.

Spinflight Sun 03-Jul-16 00:47:08

The Chilcott report to be published.

A lot of his Blairite shadow cabinet just quit as an excuse not to quit after it is published I'm guessing.

DetestableHerytike Sun 03-Jul-16 00:49:10

Yes, taxes will rise

Just5minswithDacre Sun 03-Jul-16 00:50:00

Oh yes that's next week, isn't it?

pastygothboy Sun 03-Jul-16 00:54:01

What relevance does Chilcot have to tax rises Spinflight?

Spinflight Sun 03-Jul-16 01:05:45

"What relevance does Chilcot have to tax rises Spinflight?"

My apologies, should have quoted the below as part of my post.

"What is Corbyn waiting for?"

pastygothboy Sun 03-Jul-16 01:07:15

I see.

Is it a problem for Corbyn though if Blair is criticised?

Spinflight Sun 03-Jul-16 01:47:28

Depends upon the criticism, though he was merely the head of Government. All the other MPs were also in government are therefore culpable, especially if they voted for it.

Blair isn't stupid enough to let himself be hung out to dry alone.

pastygothboy Sun 03-Jul-16 01:50:35

Yes, but Corbyn conspicuously didn't vote for the Iraq war did he?

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