What is labour coming for next?

[MikeRafone]

I reckon after 12 years of dozen fuel duty that drivers will be next

what tax will the collect next to fill the black hole

Everyone should be paid a living wage. That is a starting point

So a healthcare assistant may be earning little but it has to be a living wage. Incentivised to grow and develop, they can be supported to do their nursing associate training and earn more and so on. Aspiration.

Why is this important - because there is a complementarity between initial wealth and effort and we want all of society to put in the effort to maximise their potential.

We do not want to reduce the effort of others to increase that of another group.

increased council tax on luxury homes.

@Countrylife2002 how do you define a ‘luxury home’?

I’m actually all for increasing the living wage, and finding ways (through the benefits system/childcare support/education opportunities) to support aspiration.
i just really take issue with all the ‘tax the shit out of high earners’ which I sort of feel sums up this thread.
Through PAYE high earners pay a huge amount of tax already. I think there is an argument to increase CGT more in line with income tax but let’s be careful not to entirely stifle aspiration and entrepreneurship. You need to ensure hard work always pays.

I think this analogy perfectly sums up the problem with constantly increasing the tax burden on the same group of people

www.moore.co.uk/msuk/moore-south/news/april-2016/the-tax-system-explained-using-a-beer-analogy

Most students don't pay back the loan because they don't earn enough.

The UK is such a low wage economy - can't see how this can continue much longer before the young ones get their degrees and leave. It is really shocking for a G7 country! How can University graduates never earn enough to pay back £50k or so within 30 years???

(And constantly directing the vitriol at them!)

You’re already a surf, mentally if nothing else.

Sorry, are you/we paying the ‘greedy rich people’ or is the employer that employs them? Do you mean the very same people who pay a huge percentage of the tax receipts in this country?

On the flip side, how about making employers pay people a decent wage instead of being supported by all tax payers via in work benefits ?
I think people balk a bit at the amount of money paid to those at the very top of companies, because for all the niche skills bollocks, they don't actually add any more value than the sum of those below them, and if they fuck it up they wander off with a nice little pay off, straight into another high paying job.

If you are paying 350k in income tax etc, you only need 100 people in your company paying tax on a 30k salary to match your tax. But they are also paying the same amount of VAT on goods, same amount of fuel duty, and if they are up North and you are in the SE, they might even be paying more council tax than you

Yes. We need to shut most universities as no one much learns anything of any use there.

turn them into hostels for asylum seekers, we’re going to need a lot more of those.

So here is the thing - we all get 24 hours in a day and the difference between humans genetically is less than 1%. Many of these companies can be started by you or me.

Employees need to be paid a living wage and well according to market forces. However, clearly the person that takes the risk, bets the shirt on their back - deserves to be paid very well. I know I wouldn't do it!

And it is OK for the UK to introduce policies that frustrate innovation - we already have very little compared to our G7 colleagues. We will just have less and be back here arguing about who else we can tax and squeeze to live

My privately purchased private health insurance is taxed the same as any other insurance with insurance premium tax.

Currently for very many people hard work doesn't pay.

Equally we can see that often those who are paid far more than anyone could possibly need are not very good at their jobs and don't actually work hard - eg Post Office executives, Severn Trent, train companies.

American universities have increased their fees dramatically over the past 20 years. Way beyond the reach of most students, but then very few students actually pay the full ticket price, because they get often large discounts, scholarships and so on. The student feels good because they get a really high value education, and also because they are special and the university gave them a discount for being wonderful.

Why do I say all of this, what is the relevance? Well it seems that the rich like to pay themselves a lot to prove how special they are, but then have to pay a lot of tax to fund in work benefits. I am sure it makes them feel good twice over, they earn a lot, and contribute a lot to society by their taxes. But is also a bit of a con, because if the workers were paid that money instead of the boss, then there wouldn't be any need for the boss to pay so much in tax, and the workers would feel they were valued.

Employees need to be paid a living wage and well according to market forces. However, clearly the person that takes the risk, bets the shirt on their back - deserves to be paid very well. I know I wouldn't do it!

Do they though, bet the shirt on their back ? Their contract usually states a very generous payout, even if they completely fuck it up, so its not as though they will be facing poverty ?

The answer to that is simple. It is more important for a small number of people to learn a huge amount of money rather than for everyone to earn a good amount.

People don’t earn high wages from going to uni cos so many people here do degrees like history, geography, arts and they don’t pay well or lead to jobs in that field. Govt should promote more people to do other subjects but I agree that employers need to raise wages instead of bloody outsourcing our jobs to India ! They should ban this or tax the corporations that do this so British people can be employed in those jobs! Too many of these companies like infosys, tata, hcl are taking uk jobs from call centres to IT jobs and these are the same companies that offshore their profits so they pay hardly any uk tax whilst reaping the benefits from us

I think the poster was more referring to the person who takes the risk in establishing the business in the first place, or subsequently takes a vested interest.

Can I just check, have any of the bosses of Thames Water or the Post Office or the Banks that gambled our money away, paid with the shirts on their backs?

After 14 years of Conservative Government, you've got to be joking.

Gosh, where to start? You can't ban business to do what's profitable to them or there won't be business anymore.

Where all those IT people will appear from? In my business we're struggling badly to recruit IT, offering just under 100k packages, still nothing, there are not enough people with reasonable skills and work ethics.
And even if you can magic them up, cost difference with outsourcing to India or Eastern Europe will kill the business immediately.

NI on more types of income like property and dividend maybe.

CGT rate increasing

VAT on more exempt items

You clearly aren't an entrepreneur. I cannot tell you the number that have gone bankrupt trying to get their idea off the ground. 60% of small businesses go bust in the first 3 years. You only read about the unicorns. Hundreds fall by the way side on the way there

Has the business considered training people to take on the role?

I don't believe any of those started those businesses. But you seem to be closer to the situation and may have more info on that

You clearly aren't an entrepreneur. I cannot tell you the number that have gone bankrupt trying to get their idea off the ground. 60% of small businesses go bust in the first 3 years. You only read about the unicorns. Hundreds fall by the way side on the way there

Sometimes people have bad ideas or execute a good idea badly. You only have to look at the local high street, someone decides to open a niche, luxury shop, selling goods already provided by local Supermarkets and large chains, in a small town, during a cost of living crisis and then wonder why it has failed ?
That isn't betting the shirt off your back, that is willingly giving the bank the shirt off your back with interest added and a shed load of debt !

Maybe so - nevertheless, they got in the arena and took a shot. More than most have done.