All these tax hikes

[Coastingby]

Think for a moment.

Why would the current government announce unload of unpopular tax increases now, to be implemented in 2028?

They won't see any increased income, and would have to implement them just before a General Election.

You're being played by a press that wants you to have heard about loads of tax increases that will never happen.

Wait and see.

Why would they be implemented in 2028?

I agree about the press though. I’m sure some of the stories are deliberately leaked but there are so many that I’m sure some are just the daily mail sticking any new tax thing they can think of and writing “Reeves could possibly do this”

Well quite but that's what the Telegraph reports on both the EV charges and the Council Tax increases, that have got MN so distressed are saying.

Hello Rachel 👋

Oh I see, I hadn’t heard that those were apparently for 2028. I agree that any new taxes that come in are not going to be right before the next election

What are you saying op, that you think there won’t be any tax rises?

No. I think we'll have to have some, but I don't think they'll be anywhere near as high or many as being reported currently.

Some taxes are announced a couple of years in advance, maybe the council tax needs some work doing before changes can come in like rebanding of some properties

Not these ones, EV ppm and council tax increases, unworkable just before the next GE.

I suspect changes to ISA's & 2p on income tax, with a reduction in NI to match, so not to slow consumerism for those on PAYE but will increases taxes from those who dont pay NI.

I believe many on the 'right have called for NI to eventually go, Jeremy Hunt for one, it simplifies the tax system, introduces more fairness, so many should be pleased?

I also believe Welfare will be targeted, Labour got through quite a lot in procedural changes at the last Budget, making it far easier now to make cuts.

of course there won’t. Deliberate tactic by any party us to leak scare stories of a doom laden budget in advance to try and sucker the gullible into being relieved when they are slightly less worse off than they feared

The right wing media tend to run all sorts of scare stories before budgets and some of these have real world consequences. A number of people made very poor decisions about their pensions due to scaremongering by the Daily Mail and Telegraph last year The savers who cashed in their pensions – and now regret it

This is Labour kite flying. It does have an impact on people’s psyche which you can see atm

Thing is, if they are leaking them, or postponing them, it whatever, they haven't factored in behavioral change.

Already, so many if our friends are retiring early, changing their wills, changing their spending, not moving, gifting cash to their children.

The economy will just stall until Labour decide what they are actually going to do and when.

The whole of the ruddy media is awash with speculation masquerading as fact, manipulated to appeal to their readership/viewers. Shit-stirring on an epic scale.

People fall for it every time. We'll find out on Budget day.

And in the meantime, if anyone happens to have any spectacularly brilliant ideas about how they'd run a country without taxing its population, I'm all ears.

Yep as much as Labour want to gauge reaction it’s just causing behaviour change.

I understand that does happen, but this is much more The Telegraph than the Guardian.

The black hole is based on forecasts. So freezing the tax thresholds in the future, for example, doesn’t bring more income today but changes the forecast so the hole is smaller.

Why do you think this, when Reeves raised taxes last October - and lied, saying that she was not coming back for more.

She also lied during electioneering, and in breaking their manifesto.

Why would one trust a liar?

The manifesto only said they wouldn't increase income tax, which they haven't, as yet. They never said there'd be no tax increases, it was always obvious there would have to be, and then things were worse than expected.

What are you seeing at the moment then? Halifax reporting house prices rose 0.6% in October, Nationwide also seeing increases.

Consumer spend is also up, probably off the back of higher than expected wage rises and lower interest rates.

Incorrect.

The manifesto pledged not raise income tax, National Insurance or VAT.

Reeves gave a pre-budget speech on Tuesday in which she prepared the electorate for tax rises, and has now gone to the OBR.

We can wait until 26th and carry on this thread then, if you prefer.

Well no it was a pledge not to raise taxes, Labour were clear on that. The OBR has been informed that’s going to be broken.

Labour's manifesto is, "fully funded and fully costed - no ifs, no ands, no buts… no additional tax rises."
"I have been very clear that every policy we announce, and every line in our manifesto, will be fully costed and fully funded."
“Nothing in our plans requires any additional tax to be increased.”

It absolutely did not promise not to increase any taxes. It was about tax on working people.

Can you see the Reeves’ quote in that post?

The rumour is, 2p rise & a cut in NI, will affect those on over 75k.

So also affecting those who get income that doesn't attract NI.

Just one in five voters back Rachel Reeves’ reported plans to break Labour’s manifesto pledge not to raise taxes on working people – even if they acknowledge it’s in the country’s interests, according to new polling.

But it also indicates that the political damage inflicted by raising income tax would be reparable if it was paired with taxes on the wealthy and a positive vision for change, such as clear, achievable targets to improve public services.

A new report from cross-party think tank Demos, shared with The Independent, showed that just 20 per cent of the public believe it is acceptable for the government to break promises on tax, even if that’s what the country needs.