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Original poster

Rishi considers tax cut for top earners

83 replies

Vocaladvocaat · 21/10/2023 09:06

I am really trying to stay neutral here. But, faced with massive by election defeats, from a nation slammed with mortgage rises, cost of living, and inflation, The Tories are thinking about how they can reward the top earners???

Really?

Not the millions doing 60 hour weeks and struggling to pay their bills. It's this lack of awareness that is the whole problem...

Rishi Sunak considers tax cut for top earners after byelection defeats (msn.com)

MSN

https://www.msn.com/en-gb/news/uknews/rishi-sunak-considers-tax-cut-for-top-earners-after-byelection-defeats/ar-AA1iAFYB?ocid=msedgntp&pc=SCOOBE&cvid=904d4e5b280b4f1eaf25f9eb91a10d39&ei=14

OP posts:
Fightyouforthatpie · 21/10/2023 18:07

DonnaBanana · 21/10/2023 14:58

There aren’t enough top earners by a long long loooooong way to swing any vote for them

Yeah only about 5 million people earn over £50k which wouldn’t move the needle

Depends where they are - the election will be mostly decided outside of safe seats - the "electorate" that actually makes the difference can be 50-60K (people).

newmama311 · 22/10/2023 06:38

Overthebow · 21/10/2023 09:17

It’s the 40% threshold they’re thinking of raising, not the additional rate, so it’s people on normal salaries that will benefit. I’m being dragged into this tax band even though I work part time as the threshold has been frozen for a while now and inflation is high. Our group rarely get any help and no longer get child benefit either. This will help a lot of people.

Agreed. In that bracket, live in shared ownership, drive a seat, live out the freezer for half the month etc.

DdraigGoch · 22/10/2023 10:09

CesareBorgia · 21/10/2023 10:13

I'd argue that £50k doesn't necessarily put someone in the super rich/wealthy bracket, especially if they are the main breadwinner and they have a partner who is a SAHP. So in reality, it is the average working family who need it and will see the most benefit.

Quite - you wouldn't say two people earning £25k each were a high income household, yet they will take home much more than a single parent household on £50k.

This is why I think that we should have the French system where the tax can be considered across a household rather than individually.

DdraigGoch · 22/10/2023 10:15

Fandangoes · 21/10/2023 14:27

I wonder how this would translate to Scotland where we have to pay 42% on anything over about £43.6k That is far too low a threshold and really does make it incredibly hard justify pushing to earn over £43.6k!

You're paying a lot more than that when you factor in the lower rate of NI not coming in until £50k (as per England), so you're paying something like 55% between £43k and £50k.

bombastix · 22/10/2023 10:19

It's probably not a bad idea but this group also rely on public services like schools and healthcare. Those are in crisis. They don't care about smoking bans, A level reform or wokism sufficiently to change their day to day concerns.

The Conservatives have forgotten who they are for. High tax and bad public services is not a good offer. They need to change it but looks like they have run out of time.

GoldenKiwi · 22/10/2023 10:23

sekift · 21/10/2023 09:16

The threshold for higher tax needs to be increased, £50-ish k is not what it was 10 years ago, the CB threshold also desperately needs changing.

That said, whilst it would benefit me and I hope Labour consider looking at the tax thresholds for those around £50k, it wouldn't make me vote Tory.

This

QueenoftheNimbleFlyingCat · 22/10/2023 10:43

Same as pp above. The high rate tax band needs to be reviewed as well as the CB threshold. I am a single household and 50k is not what it was years ago. I hope Labour review it as hell would freeze over before I voted Tory.

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