Thread 20 Starmer - Spring Statement

[DuncinToffee]

Previous thread https://www.mumsnet.com/talk/_chat/5286167-thread-19-starmer-a-coalition-of-the-willing?page=40&reply=142981585

But the ISA system atm totally favours the wealthy, whilst providing very little gain for the UK Govt.

How does it "favour the wealthy" ?

The ISAs are already capped at a reasonable level to stop benefiting the Uber wealthy.
The taxpayer here massively benefits from the 1.2 million Henrys (high earner not rich yet). They use the ISAs to save for housing deposits. Scare of more Henrys we are all truly screwed for good.
The issue with the ISAs was that they weren’t benefiting U.K. smaller companies. Raising equity on ftse 250/AIM helps the economy grow. The reason they aren’t growing is partly because of our stamp duty regime. It’s simply cheaper for companies to list in the US and other stock exchanges. Nobody is incentivising even pension funds to buy British equity. Equity is cheap debt and growth for smaller companies.

It was my understanding that ISAs were introduced to help savers. And originally with relatively low levels of investment - so not for the wealthy. Was that not so?

Share link

https://www.thetimes.com/article/25aad3a3-7939-4ffc-b532-6deca143bb1e?shareToken=f351120817570ec7ed63b963196920b9

Is Britain a high-tax nation compared with other countries?

We are used to hearing how taxes are at a higher share of national income than at any point since the 1940s — but what do the statistics reveal?

Currently doing the rounds on local FB groups.

Re: the PIP etc changes.

On the radio the other day, Philip Hammond said that Osborne's £12m cuts to welfare benefits actually only saved less than half that in the end. It is a shame Labour is not learning from the Tories' mistakes.

Re: ISAs, I am not averse to some changes being made, even though I have my life savings in a couple.

@AnnieAwkward given that Labour is making swingeing cuts to benefits, I don't think it is good to plan to rely on them to get you out of a hole.

What utterly naive nonsense.

The issue with the ISAs was that they weren’t benefiting U.K. smaller companies.

The stroke of a pen could have created a class of "UK ISA" which specifically and only invests in UK companies, for a slightly better tax relief.

In fact, a 2 minute chat in the canteen queue while they faff around with preparing the vegan in fronts order throws up more solutions than could be tried in a century.

The lack of imagination - that failure to be bold - is what really holds us back. And - for the terminally dim - being bold is not a synonym for being a cunt.

Joining the customs union, hoovering up all that free money ? Imaginative and bold.
Targeting the most vulnerable like never before ? Unimaginative and cunty..

So is world peace. Doesn't stop me tying.

The ISA allowance is much higher now. If you are wealthy enough to lob the maximum into an ISA each year, it is a nice little earner, what with compound interest and no tax.

I think maybe a lifetime allowance might work if it was set quite high. Say a couple of hundred thousand. But there will be loads of people with more than that, so a bit tricky.

Right on.

It’s not a good idea of them to rely on my vote either.

I think a lot of people forget that - sadly - money makes money.

ISAs "favour the wealthy" in as much as the more you put in, the more you get out. Suggesting that "favours the wealthy" is like saying the housing market "favours the wealthy" because bigger houses cost more.

The real problem is the exponential nature that seems to surround money. £100 only grows twice as fast as £10, and £1000 grows 3 times as fast (can you see what's going on here ?). I remain to be convinced that is an emergent property of money rather than a contrivance on the part of the societies that have adopted it.

Posters without an agenda are free to comment. As indeed are posters with an agenda. And posters who think an agenda is something to do with trans issues. However under the Hague Convention of 1898, ratified at the Treaty of London 1903, I retain my right to ignore bad faith actors.

My MP has replied to that being posted on her FB page (under her rather lovely post about being a Mother in today’s world) with an excellent rebuttal, calling it out as a blatant untruth and politely asking the commenter to get in touch with her IF they are a constituent (most of them are not) and need any assistance with having their views represented.

Excellent. Count me in!

’Posters without an agenda’?

Another nonsensical comment.

Everyone on MN has an agenda, an angle, a bias - to pretend otherwise is staggeringly naive.

The rest of your post otherwise indicates financial ignorance, with respect.

We all have an agenda.

My agenda for today is gardening, Marry Me Chicken for dinner and a glass of wine to toast my absent mum (and little Tennyson's birthday😃).

Life is good.

Everyone on MN has an agenda, an angle, a bias - to pretend otherwise is staggeringly naive.

The rest of your post otherwise indicates financial ignorance, with respect.

Reading back on your comments here, X, can you begin to see why people may not wish to engage with you? Adding "with respect" on to the end of insults about naivety and ignorance doesn't actually make your comment respectful.

Very nice agenda @PandoraSox mine includes a start to tidying the garden and a sarnie with my eldest in the sunshine once we have finally uncovered the garden furniture.

My agenda is taking a load of gardening debris to the tip, nipping to the shop to get the final ingredients for tonight's dinner (Halloumi and spinach curry), and then cuddling some cats.

And of course to some people 'ignorance' means 'doesn't agree with me'.

My agenda is watching Everton Women (trailing 1-0 at HT ) and enjoying a curry later tongiht

My agenda is deciding whether I can be bothered to stitch a few buttonholes or just sit in an armchair and finish off a sock. I'm feeling a bit sleep deprived so the sock will most likely win.

my agenda is getting another load of washing out as it’s such a lovely day here then onto spend the rest of the day with my dd & granddaughters son-in-law cooking dinner.
happy birthday Tennyson 🎂 & happy Mothering Sunday hope you all have the best day you can, especially those finding it difficult 💐

My agenda is going for a nice ride on my horse followed by a large glass of wine.

Well if Reform or the Tories get in next time, it will be Labour's welfare cuts on steroids, so still not a good plan.