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Original poster

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

639 replies

gggddjkki · 16/10/2025 08:32

I don’t remember anxiously waiting for budgets like we have the last few years earlier on in my adulthood. But when you read statements like this (as I have seen in the headlines today) what do you interpret it to mean? What does taxing the wealthy look like to you? Taxing higher earners more? From what point? Higher taxes on industry?

OP posts:
EasternStandard · 16/10/2025 10:18

Idstillratherbepaddleboarding · 16/10/2025 10:12

How though? Most run of the mill workers have nothing left to give!

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Yeh that’s not going to work. They should just admit they got it wrong and stop chasing taxes they said they wouldn’t hike.

SolidarityCone · 16/10/2025 10:14

I’d just tax all inheritance under the current million threshold at 10%, people would receive an inheritance that was materially the same as what they were expecting, and it would go a long way to plug the hole in the finances.

Blankscreen · 16/10/2025 10:13

I imagine they are going to hit high earners via income tax.

'hard working people' never includes anyone earning over £100k. Who seem to be the golden goose of this country.

It's a disgrace if they do but I wouldn't be surprised by anything Labour do.

Idstillratherbepaddleboarding · 16/10/2025 10:12

Leavesfalling · 16/10/2025 10:00

The IFS says the UK needs to cut benefits to regain credibility with the bond markets. The trouble is the Labour benches won't allow that.
Income tax rise will be what will have to happen. We all need to chip in not just the wealthy who bear a disproportionate burden already. It's a fine balance. One that Labour won't strike.

How though? Most run of the mill workers have nothing left to give!

Holluschickie · 16/10/2025 10:11

Labraradabrador · 16/10/2025 10:09

Businesses are not the bad guys - we need their investment and the jobs they create. Making the UK less attractive for business is just going to tank growth and increase unemployment - both of which are already weak on the back of the last budget.

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Yes.
Caught between a rock and a hard place.

Labraradabrador · 16/10/2025 10:09

Catpiece · 16/10/2025 09:41

It’ll be wealth tax, not income. Hopefully large corporations who pay the least tax they can?

Businesses are not the bad guys - we need their investment and the jobs they create. Making the UK less attractive for business is just going to tank growth and increase unemployment - both of which are already weak on the back of the last budget.

EasternStandard · 16/10/2025 10:03

PlaceIntheClouds · 16/10/2025 09:34

Take from the workers and give to the shirkers.
Labour 2024-2029

Make it stop

Make it stop indeed. The last budget was a one off tax hike according to Reeves and Starmer. Stick to that.

Leavesfalling · 16/10/2025 10:00

The IFS says the UK needs to cut benefits to regain credibility with the bond markets. The trouble is the Labour benches won't allow that.
Income tax rise will be what will have to happen. We all need to chip in not just the wealthy who bear a disproportionate burden already. It's a fine balance. One that Labour won't strike.

Catpiece · 16/10/2025 09:41

It’ll be wealth tax, not income. Hopefully large corporations who pay the least tax they can?

Holluschickie · 16/10/2025 09:37

I hope it's wealth, not income.

Bromptotoo · 16/10/2025 09:36

The bottom line is that the Exchequer is up a creek; not enough cash to meet the expectations of the public.

Can close the gap by cutting spending, increasing the tax take or borrowing more.

Borrowing is close to the limit the market will bear and is becoming more expensive. Truss's experience tells us what happens if the bond markets won't lend or will only lend at price.

The rebellion on PIP stopped one course to reduce spending.

Whatever's cut will face similar opposition albeit perhaps with less risk of it being voted down in the house.

Taxes will have to rise.

PlaceIntheClouds · 16/10/2025 09:34

Take from the workers and give to the shirkers.
Labour 2024-2029

Make it stop

Leavesfalling · 16/10/2025 09:32

She will go for anyone with a house valued over £500,000 I reckon.

PeonyPatch · 16/10/2025 08:46

Maybe it’s taxing wealth and not income… not sure, but I feel similarly to you regarding nerves

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