“Tax the wealthy” (RR budget) what does this even mean?

Yes. The richest 50 families in the UK own more that the poorest 50% of the population. We urgently need to tax fairly so tax wealth which at present is not happening enough. It is too easy to off shore, hide wealth. Nearly 20% of land has unknown owners so isn't taxed. Wealth has been sucked up rather than trickling down!

Labour can’t do it, they are wedded to the thinking below that you must keep taxing more.

That’s LITERALLY anyone in my village.

this not the level to set things at, anymore than it was when Corbin said £80k was rich.

it depends where you live

if only business had kept salaries in pace with the bonus pay outs and dividends

if ordinary people earn money, they spend it here, they pay more in taxes and need less government top ups.

we should not need housing benefits for those in work, work income should cover it.

People need jobs. Labour decreasing the availability of those by hammering SMEs doesn’t help anyone.

Agree. We’ve already seen them shoot themselves in the foot with the NI rise, resulting in - surprise! - higher unemployment.

They should be stimulating the economy. Cutting tax and costs on business to make it more attractive to be based here and hire workers. Overall the tax take would go up. But Labour won’t be seen to be being friendly to business,they’ll just run tue economy into the ground so they don’t get a backbench revolt and flak on Twitter.

I think morally it is

Well yes, but it’s not the same thing. And I am no fan of VAT on private schools, I am paying two sets of school fees!

“Trickle down economics” never works anywhere.

Businesses may well create jobs, but what jobs are they? Are they the low paid, zero hours jobs that mean people have to claim benefits to be able to afford to live? Or do they pay a proper living wage?

Businesses also do many things which means the wealth gap gets wider and wider. Is that what we want? A company like Amazon, aggressively selling largely cheap tat made for a pittance by people who live in squalor, adding more crap to our landfill, so that the guy at the top can fly off to space on his jollies.

The answer isn’t just to give tax breaks to businesses to come in a pillage our economy. It is to have a proper solid plan for investing in small and medium businesses already here in the U.K. to help them succeed. I’d rather taxpayers money was spent on giving that small business lower business rates so they can grow to become a responsible contributor than give more money to a large multinational who builds a factory on greenfield spaces so they can simply make more profit.

Please link me to a study that shows immigration has increased per capita GDP in the UK. Not total GDP, per capita GDP.

They taxed education quickly enough.
Education is more worthy of being taxed than gambing it seems. Most likely more damaging to health and mental health.

I think this is precisely why gambling hasn’t been taxed up till now, it’s too complicated when there are losses. But most people don’t realise that, they just see gambling as an obvious thing to tax without being aware of the implications

Those who are hoarding all of the wealth are the ones who have the greatest ability shield that wealth from the tax authorities.
I can't see any way around that problem ☹️

I’ve read stuff on this that suggests if you did this for everyone including the wealthy, it would raise far more than the current system does because it would limit people trying to avoid IHT with elaborate wealth planning schemes.

But as with my earlier post about corporation tax, Labour would rather chew off their own feet than reduce tax rates, even if it did raise more money for the exchequer. They are morons.

Yeh £500k is a bad idea. There are many cash strapped and with regular jobs in SE in a house like that.

🤣🤣🤣

What ‘untaxed wealth’?

Corporations pay corporation tax at the rate according to the jurisdiction in which they are based. For Amazon, for example, in the UK, this is the RoI.

They then pay employer related taxes eg Income tax and NICS in the UK at whatever the prevailing rates are.

Being headquartered in the RoI keeps their corporation tax low because Ireland has decided, sensibly, to set their rate lower than ours, thereby attracting large corporates to base themselves there. Overall, the RoI may well make more corporation tax revenue than we do even though the rates are lower. This is something Labour are ideologically opposed to even though it makes economic sense.

This is very difficult to track. But also, what were the figures for last year, last decade? Some Millionaires will gravitate to countries to hide their wealth. They always have. If someone isn’t invested enough in our nation, they are welcome to bugger off and live somewhere else. I find it funny that the current narrative is that we should send “home” a whole load of immigrants who, studies have clearly shown contribute well to the economy, but we’re supposed to be sad that millionaires, who do everything they can to avoid tax, are leaving the country.

Isn’t the better question, how come we have in excess of 142k millionaires and how are they making their money?

The £500k house thing is ridiculous.

Is someone living here: https://www.rightmove.co.uk/properties/167706422#/?channel=RES_BUY rich?

It will disproportionately hit families who have bought in the last few years (who are already skint and can’t downsize), who are already fed up that house prices are insanely high.

Id love to have a family home under £500k, but find me one in London, close to good schools, with a garden and parking.

I wonder if the people complaining about a tax rise are the same ones who are saying “as hard as it is, disabled people just have to accept they can’t get anything for free, we just can’t afford it”

Yes, it will be interesting to see where they draw the line but if she is using the term “wealthy” then at least we know she isn’t targeting poor and vulnerable people, which will make a nice change. I already pay more tax as a higher rate taxpayer, living in Scotland. I don’t notice the difference, even though I’m not what most people would consider as “wealthy”. I suspect those in a similar financial position to me would only complain about a rise in tax if A) they objected to it on principle or B) have a real issue about where money is being spent.

As far as I’m concerned, if it can help get us out of the mess we’re in, I’d rather they took the money off me, than off people like my disabled daughter.

If you tax winnings, will people be allowed to offset losses?

“An estimated 142,000 millionaires are set to relocate to a new country this year, with the UK set to lose a record 16,500 in the coming 12 months.” (Independent, June 2025).
If Rachel Reeves makes conditions too onerous for those with the most money (who are also the most mobile), then they will leave. Any colour of government should be worried about the fact that the top 1% of taxpayers contribute almost 30% of income tax, and the top 10% pay 60%. Get rid of them, and you have a very large fiscal hole to fill.

They will mean anyone who isn't on their narrow list of "working people" ie select public sector workers. Everyone else (ie the majority) will be fair game (apart from those on benefits).

Valued by whom?

That's exactly the kind of thing this government won't think about - the consequences of their decisions and how they work in practice.

they need to make cuts, but they will never do that. The Conservatives didn't do it either.

reform of inheritance tax could be reasonable, but They'd literally have to announce "from this moment on, anyone who dies, their estate will be subject to..." and fix a time!

The sad thing is, they probably haven't considered that either.

Fair point but they do need to pay their full share of untaxed wealth tho x

Should tax cash prizes, even 10% of lottery, gambling, premium bond wins would be £3 to 4 billion.
I'd still be happy to win the lottery!