Question time man top 5 percent.

[refraction]

Did anyone see the man on QT asking about tax?

Apparently he doesn't even think he is in the top 50 percent of earners.

All doctors earn more apparently and solicitors.

How out of touch with reality?

He didn't come across well and very out of touch.

But they’re choosing to spend that income on living and working in London... that doesn’t make it a lower income. But if they weren't living in London it's likely they couldn't earn over £80K.

Fairly sure £80k is well above the average income for London too, unless you’re only looking at very wealthy boroughs.

Logjam that’s utter cack. This thread is full of people spending thousands commuting INTO London to earn that. They don’t live there
Directors and senior staff of most companies earn more than that. I earn more than that and don’t work in London anymore (although it is home Counties, where many companies are forced to match London salaries to attract any senior staff)

To be fair nor many people on £80k could afford a 2 up 2 down in London.

I bet this QT idiot thought 50% tax rate would mean he'd have to pay £40,000 out of his £80,000 income in tax. Fucking fool. The Tory press (owned by billionaires) have do a brilliant job on this nob.

@53rdWay
Yeah, this idea that everyone in London is rolling in it and you need to be on 100k to “survive” there is laughable.

@Passthecherrycoke Home counties is full of folk working in London - prices are much different...

That’s my whole point. You said If people didn’t live in London they “likely couldn’t earn over £80k”

“But if they weren't living in London it's likely they couldn't earn over £80K.”

They wouldn’t need to though.

That’s my whole point. You said If people didn’t live in London they “likely couldn’t earn over £80k” Well I should have been a bit more precise for you then! Sorry!

So what do you mean? People who live in London AND ALL THE OTHER EXPENSIVE AREAS couldn’t earn over £80k unless they work... where?

@Logjam
Why not? Plenty of decent 2 up 2 down for around 500k or even less. You’d just have to tighten your belt and save but that’s the cost of living in one of the three or four most desirable cities on the whole planet.

@tabulahrasa“ But if they weren't living in London it's likely they couldn't earn over £80K.”

They wouldn’t need to though.

Exactly! I have no idea why people on a low income chose to live in the SE England - I would move to a cheaper area and have a much higher standard of living. The london weighting for Gov jobs is nowhere near enough to compensate for the increase in cost of living.

Forget 2 up 2 down, stick to Leyton or Neasden and you can get a 3 bed semi on £80k

@Cam77 Can you get £500k mortgage on an £80k salary? And in a two up two down - are you really saying people feel rich?

As cam77 said London is one of the most expensive cities in the world. It’s an utter disservice to keep this conversation so London centric

Quick web search

In 2014 the median wage was 34k in London 22k outside. So half of people earn less than this.

Rent for a 2 bed in a cheap region of London is around 1k per month . London average rent 1500, cf 910 for uk as a whole.

So it seems that extra salary for London is in line with extra rent / expenses in general

On average London salary you will,take home 2200 per month leaving you with say 700 per month to live off. At uk average you take home 1500, leaving you with 600 a month after rent . For food, bills, commenting costs, holidays and coffee

Based on those figures, would people on 80k a year who feel poor, consider that perhaps they just have expensive tastes and habits?

Forget 2 up 2 down, stick to Leyton or Neasden and you can get a 3 bed semi on £80k And then you'd feel rich, would you?

Based on those figures, would people on 80k a year who feel poor, consider that perhaps they just have expensive tastes and habits?
Feel poor? This was meant to be about someone not feeling rich? Just because you don't feel rich, does mean you feel poor. There is a middle ground.

A house in one of the most expensive cities in the world? Sure! Wouldn’t you feel rich to own a house in Manhattan?

Rich means people who don’t even have to work.

Exactly. High income is not the same as rich. Well off is not the same as rich.

A house in one of the most expensive cities in the world? Sure! Wouldn’t you feel rich to own a house in Manhattan? I think I would feel rich owning a house in Manhattan - can you link me to a house I can buy on £80k salary - very interested!

A house in one of the most expensive cities in the world? Sure! Wouldn’t you feel rich to own a house in Manhattan?

I don't understand this point. I was born & raised & education in S London, my parents were immigrants as were many of many neighbours & school friends. They all could buy houses in zone 2 & 3, many with only one income.

To be fair nor many people on £80k could afford a 2 up 2 down in London

You can easily service a £500k mortgage on £80k. Are you seriously saying there are no two bed properties in London for half a million?

He’s absolutely deluded! An old friend of mine was a solicitor earning just over £20k a year a few years after qualifying. He was doing personal injury and conveyancing. We don’t live in an affluent area. He knew his earnings were going to go up eventually, but not all solicitors are wealthy.

My cousin is a conveyancing solicitor and I don’t think she’s on much. Maybe £20-30k? She lives alone in a 2 up and 2 down that she’s just bought and drives a 15 year old car.

People like him need a reality check.