Fuck it - the government will look me

Ah that would explain the recent thread where RR was apparently planning on stopping people from overpaying into pensions to avoid income tax cliff edges.

This the pp having a go is posting anyway rather than not.

Plus Labour is kite flying to gauge opinion. If you don’t want something to happen say so.

Not everyone is equal in their contribution to the UK - economically, or otherwise.

Nor is everyone equal in their ability to contribute.

The world is not egalitarian - never has been, never will be.

Socialism does not work - never has done, never will do.

But I do think today’s government does have a choice, stop managing decline and stop punishing ambition.

But how does one do that after years of under investment?

Completely agree op. The education tax for example, based on the premise that parents would send their children to a state school if priced out and buy a new car with the money saved. What Government nudges parents away from investing in their children’s education? Utter madness.

Austerity, the result of the 2008 financial crash, was an apparatus to control out of control government borrowing and to reassure the markets (we have all become educated in gilt bond markets under this government), in order regain market confidence.

As a result of austerity, interest rates on government borrowing did fall.

But austerity made our institutions poorer and as a result less productive. Institutions that are the backbone of our society, health, education, policing. And it went on for too long.

Successive governments have continued austerity measures, by stealth, which we now know of as fiscal restraint. Manage the economy,
avoid collapse.

We are borrowing more and more for welfare payments, the NHS, debt interest and pensions.

As to whether austerity should or should not have happened, I think there was no choice. But I do think today’s government does have a choice, stop managing decline and stop punishing ambition.

Discussing hypotheticals is a healthy thing to do. Being prepared is a key to making good decisions and surviving uncertainty.

If you don’t want to, scroll by. Don’t be rude and sanctimonious.

And when that fails to raise the required revenue, then what?

What happens when Reeves starts going after the more narrow shouldered - which is already plausible for the 26th.

@Polaris81 what do you mean?

Mansion tax might be a reasonable idea but target those who have big incomes rather than pensioners who bought properties 50 years ago.

@nomoreforks why just higher earners though who are likely paying mortgages?

What economic theory is the op getting wrong in your view?

I wonder if I'm included on the "mobility cars for ADHD" list. ADHD is first on the list of conditions from the GP that I give PIP as evidence, either because it's alphabetically first or was diagnosed first.

I get a motability car and full PIP because of the brain tumour and uncontrolled epilepsy, but it wouldn't surprise me at all if I'm included in the "motability for ADHD" statistics people keep talking about.

I‘m still digging into this myself - it was mentioned by a contributor on Sky News Press Preview earlier this week.
So far, I’ve got to ‘46.7% of people live in households that are net contributors’, and I think the 30% comes from a further breakdown within those households.
When I get to the crux of it, I’ll come back and post!

Not news, I didn't say news. Mind you, The Week is quite good because it rounds up all the news from different sources so you get more balance.

Maybe an economics book? Or some political history?

I think the country is definitely much more unequal however it sounds like Labour are hoping to get more money from the slightly more affluent than average citizens rather than targetting the super rich and the corporations who use tax planning to avoid tax (amazon etc..). For example, small terraced houses might be worth more than £2m in London which seems a bit crazy as they are probably smaller than the average UK house. Mansion tax might be a reasonable idea but target those who have big incomes rather than pensioners who bought properties 50 years ago.

I think OP has a point, enjoy your life, spend your money, work until you’re 70 then go on pension credit with housing paid and all the other benefits that come with that.

I'm rather envious of my MIL, who's worked for less than 10 years of her entire life. She gets pension credit, which is only around £7pw less than I get in state pension after working constantly from the age of 17 to 70, plus she gets full housing benefit and 100% reduction in her council tax.

Some of my working life was in the public sector, and my "gold plated" public sector pension is a princely £240 a month after tax. My council tax is £153 a month and I'm not entitled to any reduction save for the 25% single occupier discount. But the bit I'm most envious of is that whenever something goes wrong with MIL's house, she just picks up the phone and the council come and sort it. I have to find a tradesman to sort it and fork out for repairs. And she's still living in the spacious 3-bed house she's lived in since 1960 - no "bedroom tax" for pensioners.

They "could choose" to change anything, obviously.

What's the point of a discussion of hypotheticals?

Maybe they should tax per word on internet forums.

Because there are a million of these sorts of articles, all guesses. "Widely publicised" doesn't mean anything, they just print each others stories, they're not all independently researched.

Of course she is considering it, she will be considering everything. Looks like a good proposal to me though (but I very much doubt it will be in this year's budget, other than maybe as a policy announcement, rather than a new tax you have to pay immediately). Again, it's on-brand for Labour, do not really a surprise. A tax for the wealthy (who seem to all think they are "middle income", lols).

As I said, read something sensible. But generally, wait until the actual budget.

"But motability cars for ADHD is a thing. "

How many people have a motability car where ADHD is their only diagnosis?

Because everyone is equal, right?

There’s really no need to be so rude to the OP. This is a discussion not a political thesis.

And some of your assertions are incredibly naive btw. ‘You don’t pay stamp duty when you sell’ - well, you don’t atm, but any government could choose to change that, and that’s the point. They can scrap state pensions, charge stamp duty on rent deposits, do whatever the hell they like. All we know is that this next budget has a shitload of tax it needs to raise, and someone is going to have to pay it.
I think being fearful it will fall on you personally is perfectly natural, especially with the COL as it is right now, and people already being right up against it to maintain their lives, financially.

Can you point me to a source for this stat please?

Do you use SALARY SACRIFICE?