What other ways could Rachel Reeves have raised more money?

Small independents can often be just as cheap, especially for smaller things like motor accessories, DIY tools, etc because of there being no costs of postage and order processing/handling. I happily drive 10-15 miles to a very old established DIY store who basically have everything you'd ever want. Constantly cheaper than ebay or Amazon and a lot cheaper than Homebase or B&Q.

So true. Efficiency savings and stop fleecing tax payers.

Well since no one in the cabinet has run a business, what do people expect.

I agree that the penny off a pint was stupid. Not enough to make any noticeable difference to individual drinkers, but lots of combined revenue thrown away.

Petrol is different, as you have to buy 50, 60 or more litres at a time - not a pint or two like with beer - and a lot of travel is essential and not a social luxury. Plus, the tax on petrol was effectively already increased permanently by 5% with the introduction of E10 as standard, but most people never noticed.

A 1% property value tax would cost us the same as the interest on our mortgage for our quite average house in a not-expensive town. As PP said, this would basically make everybody permanent renters, if you're paying the same amount to the bank for 25 years to buy the house and then the same again to the council/government until the day that you die.

I think, with discussions like this, there are often suggestions as to how you could get more in subtly without actually acknowledging the impact on those who will thus lose that money.

It reminds me of those stupid regular New Year 'articles' in the tabloids that tell you how you can supposedly amass a fortune by putting aside 'just' 5p a day for a year, which you won't miss - but the gimmick is that it's an extra 5p for every day: day 1, 5p; day 2, 10p; day 3, 15p etc. Before long, it's very clearly a noticeable sum - but you also have the pointless faff with getting/saving all of those 5p coins - and then having your resulting 'fortune' made up of them!

You can only dismiss reality for so long.

At the moment I'm pretty sure IhT is only due on something like 5% of estates. (But above the threshold at 40%)

Agree there could be a lower threshold with a lower tax burden.

The only difference you could make would be moving from Amazon to a genuinely local/independently owned small business.

But people want cheap…

Most of the chain stores and restaurants are now owned by hedge funds and overseas investors, so moving from, say Amazon to another chain store really makes no difference. The only difference you could make would be moving from Amazon to a genuinely local/independently owned small business.

Well, there is the scope to properly charge NIC on bonuses by changing the NIC rules to allign with income tax in that NIC worked on total wages for the year (like tax) rather than "per payslip" which means that full NIC isn't charged on big bonuses etc.

Plenty of tax evasion and benefit fraud going on with bank payments too, it's certainly not just cash. The trouble is that HMRC are largely absent these days - the chances of a business being investigated are pretty much zero and the dodgy business owners know it!

Cutting overseas aid will mean more people coming here on small boats to escape the awful places they live in.

What, France?!

Bonuses are taxed. My DH gets his bonus notification then mentally halves it. Don't get me wrong he earns well and does not begrudge paying the amount of tax he does.

Absolutely, I remember helping on a COVID ward and it was so hot, the windows only opened 3 inches.

Basically increase taxation on everyone else but most definitely not me.

yep

It needs to hit the ones without UK shareholders

which global sites don’t have UK shareholders?

Which other stores? High streets and small businesses are closing down day by day.

There are shops that aren’t Amazon that still exist…

In the spirit of MN posts on taxation how about:

Really increase income tax on the rich with rich being defined as anyone earning 25% more than I do.

Basically increase taxation on everyone else but most definitely not me.

It needs to hit the ones without UK shareholders, the corporate engineering that means millions in profits go overseas.

Which other stores? High streets and small businesses are closing down day by day.

Cut the defence budget significantly. Be the adults and stop the grandiose willy wagging that the nuclear deterrent and defence spending is.

🤣🤣🤣🤣

I’d have added a flat 10p charge to all upf sweets biscuits cakes etc.

Reform of IHT to make all inheritances under current thresholds taxable at 10%. Would raise 70bn per year and the amount inherited would be materially the same. I would have changed the farms allowance but made the allowance a bit larger.

They meant the thermostat in hospitals! I will edit my post

How can you turn thermostat down when can't afford to switch heating on?

Increase petrol tax- petrol really cheap at the moment
Tax on bonuses
Tax on ultra processed foods
Extend bedroom tax to private rented and owned housing or tax by floorspace or by land size
Increase fines for pollution
Tax on megafarms
Tax on online shopping especially cheap import from china
Ed Davey gave a great list on today programme

I saw the NHS were asking the public for suggestions on improvement and someone suggested turning the thermostat down 1 degree in hospitals. Seems like a good idea to me!

But that would hit other companies not just Amazon & the governments do want them to have warehouses etc here. Customers should shop in other stores

Exactly. Raise £££ in fines from random drug wipes.