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Original poster

Tory's to hike up VAT to 19.5%

153 replies

magentadreamer · 02/05/2010 09:41

Sorry it's a DM story but another reason not to trust the party that gave us record unemployment, sky high mortgage rates in the 80's the poll tax and sold off the family silver amongst other things.

www.dailymail.co.uk/news/election/article-1269677/Tories-secret-plot-raise-VAT-19- 5-emergency-June-Budget.html

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NetworkGuy · 04/05/2010 10:12

Yes, agree on the technical difference, DF, but even having a 50% level is quite discouraging. No wonder many rich people are enticed into employing tax specialist firms to try to avoid some of the taxes.

I suppose (far too radical) the whole tax system needs a massive overhaul to simplify rules and cover just the 4 or 5 areas - income, inheritance, investments (shares and bonds), capital gains, and company profits/bonuses.

(Sorry, not a tax expert, hence out of touch with what other areas may apply).

DuelingFanjo · 04/05/2010 08:53

"Who in their right mind would stay in this country just to hand over over half of their income"

I thought the 50% tax only kicked in once you are earning over a certain amount? So no one would be paying half thir income as the tax only applies to anything over a certain amount?

LeninGrad · 04/05/2010 08:49

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MintHumbug · 03/05/2010 18:37

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MintHumbug · 03/05/2010 18:32

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EggyAllenPoe · 03/05/2010 17:03

i thought all sides had said they had 'no plans' WRT VAT. LAbour may have made a budget, but a budget is only as good as the forecast it is based on...

personally i think buggering around with VAT causes much addidional administration expense. Best leave it as it is.

TDiddy · 03/05/2010 16:55

Agree with LeninGrad, in boom years the gap berween rich and poor widen. In bull years you need a Govt to invest in Health, education, etc. I think we have just had that in the last 12 years or so.

sarah293 · 03/05/2010 14:53

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LeninGrad · 03/05/2010 11:34

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LeninGrad · 03/05/2010 11:32

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MintHumbug · 03/05/2010 11:27

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LeninGrad · 03/05/2010 11:04

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MintHumbug · 03/05/2010 10:58

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LeninGrad · 03/05/2010 10:49

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TDiddy · 03/05/2010 10:36

skihorse - i think that you are missing the point. I have a son about to go to a private secondary. He had no problems getting into grammars but yet he wants to go to private hot-house. And that is because HE knows that he will be better prepared and have better life chances there. Poorer people are not barred from libraries but you are kidding yourself if you think that it is a pure meritocracy. Far from.

skihorse · 03/05/2010 10:27

I hadn't realised that "poor people" were now barred from libraries.

TDiddy · 03/05/2010 09:51

not really, as a well prepared child from St Pauls will tend to beat the underdeveloped potential of many state school pupils. We aren't yet a meritocracy. A few friends involved in admissions would admit this is still the case although much much better.

skihorse · 03/05/2010 09:44

TDiddy - it's always (imo) been about academic ability. My uncle went to Kings in the 60s - his school made him sit the Cambridge entrance exam at 16 to shut him up (they felt he was smug and show-offy) - Cambridge took him on the spot of course. He went to an average school in Cardiff - not Eton!

TDiddy · 03/05/2010 09:36

skihorse wrote Oxbridge has always taken candicates from all socio-economic backgrounds

Well the odd token, yes. More recently they have made an effort but in my time it was the odd token!

Ivykaty44 · 03/05/2010 09:29

I would rather NI was stopped and put into income tax

then tax would raise as everyone would pay incoem tax, thoses selling second properties, inheritance tax would have to pay it

there for raising one tax and getting ride of another so lower payed don't get punished

TDiddy · 03/05/2010 09:21

My theory is that middle and upper income people will have to make much smaller adjustments for new Govt but the impact on the "the vulnerable" (pardon the patronising phrase) is large. I try to factor this into my voting conscience. The Tories have to show us that they aren't full of John Redwood types who are evangelical about cutting taxes for the rich/well off.

sarah293 · 03/05/2010 08:58

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TDiddy · 03/05/2010 08:48

Riven - DO you know who has the least worst policies for disabled people?

TDiddy · 03/05/2010 08:44

Nice guys like DC will charm you for your vote but ultimately we have to look at what the conscience of the party is. The Tories still seem like they are mainly concerned with well off.

sarah293 · 03/05/2010 08:37

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