Labour isn't working - Thread 13

[TheNuthatch]

A chat thread for those who don't like this Labour government.

The problem with socialism is that you eventually run out of other people's money.

Previous thread
https://www.mumsnet.com/talk/_chat/5423193-labour-isnt-working-thread-12?utm_campaign=thread&utm_medium=share

So, sorry, I'm still absorbing the enormity of what is being said here.

The suggestion is that the Tories should remain amenable and generic so they have more options in the pick me dance, assuming that a coalition will be a matter of necessity now it's no longer a two horse race?

Nothing positive, apparently.

Yeah, funny that! I wonder why is that.

I read it the opposite way. That the tories are going to stick to their core values, rather than trying to appease the wets, and out reform Reform at the same time.
Basically stick to Kemi's version of conservatism, which is quite right-leaning anyway.
Then hope that the other parties will be so split, that the cons will be the biggest party.

For the Lego Movie fans!

Oh, okay. Let's hope so. The thought that they might make a strategic decision to stand for nothing at all so they can slot in anywhere is enough to induce the ick.

I could be wrong, might be my wishful thinking clouding my judgement 😂.
If Jenrick takes over, all bets are off.

That's how I'm reading it.

Stick to the core values, lean to the Right and try to use the fragmentation of the political environment.

I got the high vote shares bit but I kind of lost track with what it was saying to do.

I don't give a rat's arse what they think/say tbh 😁. I think it was you who commented that a wasp stings more venom when it's angry? Feels relevant here.

If they didn't behave as they do, we wouldn't have needed this thread. The irony! Onwards 🫡

It was me, I'm afraid.

Thank you. You explained it far more eloquently than I did.

Monday's Telegraph published a chart of how much revenue the IFS estimates different taxes could raise for 2029-30. Unfortunately I can't work out how to post it on here, but the figures are:

Income Tax
increase basic rate from 20% to 21%: £8.5bn
increase higher rate from 40% to 41%: £2.2bn
increase additional rate from 45%-46%: £200m

Freeze all income tax thresholds until April 2030: £10.4bn

Taxes on capital incomes & gains
increase all rates of income tax on dividends by 1%: £400m
increase all rates of income tax on interest by 1%: £200m
end forgiveness of capital gains at death: £2.3bn
abolish business assets disposal relief: £900m

So it looks as if going after common-or-garden taxpayers (I can't think how to describe us!) would be much more lucrative than just 'The Wealthy'. There's also less likelihood of a significant proportion of your taxpayers leaving the country if you you go after the masses. But there's a greater chance of losing votes.

Dan Needle has said for ages that the only way to raise enough revenue to do what they want to do is to put up income tax for everyone. I'd be far happier with a 1% rise on the basic rate as it means everyone is paying their share.

He's also advocated for total Council Tax overhaul and abolishing Stamp Duty. He is very anti a "wealth tax" and says it has never worked in an country that has implemented it.

Rachel Reeves has signalled she will target tax rises on assets rather than earnings in the Budget as she ramps up her war on wealth.

Just weeks before she delivers her second Budget, the Chancellor said those with the “broadest shoulders” should contribute more to balancing the books. She also suggested higher earners would not be the main target of her tax raid.
Her latest comments will raise fears about higher inheritance tax and a raid on pensions or landlords.

Speaking to reporters at the International Monetary Fund meeting in Washington, Ms Reeves said: “I do think that those with the broadest shoulders should pay their fair share of tax, and I think you can see that through my actions last year at the Budget.”

Asked how she would define a wealthy person, Ms Reeves responded: “Wealth is obviously different from income. So wealth is not about your your annual salary.”

DT

i wonder if we’ll see a two pronged approach where they go for a spite tax to grab decoy headlines whilst the big money makers slip under the radar.

Labour comms gurus will be looking for flagship tax rises by can point to, to argue that the broadest shoulders are bearing the brunt, even if it doesn’t bring in much.

100% based on past performance

Headline grabbing petty taxes which won't raise anything but will be red meat for the left. Whilst sliding in unnoticed the everyday tax rises to hit the majority

mumsnet lefties aside, the tax and spend experts don’t think Labour is doing a great job, the tax system is already overly complex with too many disincentives.

Oh landlords, great. That's rents going up again then and consequently the housing benefit bill going up again to be paid by the tax payer with higher taxes again next year.

Why are we listening to this again when the last budget was a one off?

Because they messed up. Such incompetence.

Yes, NI on rental income, presumably.

For starters.

Screwed up, and lied.

Reeves trying position herself in any way as not this just makes me glad they’re tanking.

Screwed up, lying, Starmer too

Our manifesto is fully costed and fully funded and requires no further tax increases.”

They don’t have a mandate for any of this - Labour are fucking liars and cheats.

I apologise for the profanity.

Don't have to apologise on here

Absolutely.