AIBU that working people should be rewarded in the Budget?

[DistingusedSocialCommentator]

As above by way of increasing the tax threshold which has been on ice for a while.

The lower paid will benefit the most as those earning about 125k I think it is dont get any tax reliefe. 2 of the 3 children of ours pay 40% or more in tax plus NI. Therefore, the lower paid will benefit the most

We left worl in our early 50's and yet to reach state pension age.

I've read that many pensioners will soon be paying taxes as many are also being paid a few quid in private pensions they contributed to

so rather than a penny or two cut, raise the threshold of income tax

The gov must also do away with IHT but that is a different subject.

So if you agree with me, then it is I am being reasonable

This. Sorry OP but you trust the tories more than labour 😂

Your OP is really badly written. Are you talking about the personal allowance? Or when 40% tax kicks in? If it’s the latter then those over £125k would benefit if this increased also.

I agree to an extent that fiscal drag has been going on too long as many people have been dragged into the 40% tax bracket.

It also makes me laugh when people are so against IHT when less than 4% of estates pay it…. And no it’s not being taxed twice because you can literally apply that argument to anything… eg someone paying VAT with their money which income tax has been applied.

Where did you get the impression that yet more money will solve those problems? Taxation has never been higher and there has never been more spending in those areas. Yet….

You are not wrong OP.

There are 10 million people of working age economically inactive in this country. Less than 50% are net contributors. One in eight young people are NEETs. The pool of those who are actually paying for everything is ever shrinking, which is not sustainable. At the same time we are importing low skilled Labour who bring economically inactive dependents with them, adding to net dependency. While they indigenous population chooses to have someone else pay for them.

The who system is a Ponzi scheme built on the back of a smaller and smaller cohort of people. There is no incentive for any net contributor to stick around. You can earn more, keep more and get better value for your money in many other countries. This government has surpassed all levels of incompetence and corruption. Unfortunately Labour will be worse.

In this country many people seem to want a low tax/good public services regime. That isn’t possible.

Possibly very controversial, but I think all income (including pensions) should have NI levied against it. When the system was set up, the average age of death was a lot lower than it is now, so the younger generations are disproportionately paying for the health care of the elderly.

I've written as clearly as I could

Re personal allowance, that should be incrased to 14k as I said many hard working pensioners have private pensions. and are now falling into the tax trap

The IHT. As I said there could be lime of 3-5 million exempt - why should ordinary, hard-working people pay tax on tax on tax if they have worked hard and been prudent with their money?

Nothing against those who genuinely can't work but I'm fed up with many of those that don't own anything or close to it and are so in favour of IHT.

As I said, those earning over 100k I think dont get child benefits and if over 125k they don't get a tax allowance and 2 of our children are paying at least 40% direct tax plus NI. If two people are earning a joint 125, they will get the tax allowances and child benefits.

I also feel coucil rents should rise in line with inflation - why should the local taxpayers pay for it.

Back to personal tax allwance, these must be increased but IMO, it will all be BS, empty promises and if Labour got into number 10 - god help those earing 50k plus. If you pay coulcil taxes in full, watch them shoot up as well as VAT

Are we still allowing "At the same time we are importing low skilled Labour who bring economically inactive dependents with them," I doubt that very much

Its the high skilled like docs, IT specialists, and skilled NHS staff

I do however agree with the rest of your post.

Our lot - what will labour do to get the workshy into work - up their benefits?

Pensioners have always paid tax if they earn over the tax threshold. Did you think they didn't? They don't pay NI though.

How are you going to distinguish between "hardworking people" who pay IHT and trust fund beneficiaries?

You've misunderstood my point - possibly my fault. I'm saying or was trying to say that with recent state pension increases and just a few quid from a private pension, many pensioners that have even small private pensions other income will now fall into the tax trap. Therefore, personal allwances should be increased vastly. This will benefit pesnioners and those on low and or part time work.

many pensioners will soon be paying taxes

Just about every pensioner with an occupational pension is paying tax now. I certainly am.

@DistingusedSocialCommentator

"I beleive it will be removed or a promise to do this in the Autmun statement, IE dangling fake carrots to remain at number 10 along with the promises of tax cuts and doing away with IHT"

There's not going to be an Autumn statement. Parliament will be dissolved on 17th December at the very latest and it's likely that the election will be this year rather than January.

Money doesn't grow on trees.

Since covid, there has been a HUGE increase of those on benefits, and over 54% of households TAKE more from the system than they pay in!!! This is crazy!!

83% of all tax is paid by just 40% of adults.

The only way to reduce tax is to reduce public spending.

Healthcare eats up the most money. The NHS needs an overhaul as far too much money is wasted on bureaucracy.

The next biggest spend is then pensioners social security (fair enough).

Then benefits for those of working age.

The priorities are all wrong. I know SO many people claiming benefits because they can, and they know how to play the system. It's awful. Whatever happened for gratitude for a helping hand?!

(and before anyone starts, I'm not talking about genuine claimants.)

That not certain ATM and that is a fact is it not?

and many many people who are working now won't ever be able to retire, with autoenrolment widening its scope, this has absolutely signalled the death of the state pension - or at least a means tested reduction in it in a few years. DH and I are in our 30s, we wholly expect to still have to be working into our 70's - nothing to do with not being prudent, but all to do with our current NI taxes funding a much wider pool of people who need them now, housing costs and costs of sending children to uni etc etc.

Thank you. The only reason I did not post that is becuse you will get attacked even though you made it clear you are not posting about "genuine" people

NHS - I've always said no more money is required but to use the money more efficienetly

Re social housing - rents should rise by inflation rates

Reward those that work. Ensure benefits only go to genuine people. There will be mistakes in assessing but that is aprt of life and a good appeals, fair appeals sytem that is fair to those claiming and the taxpayers is in place.

Re tax allwoances, best way forward to massivley increase those.

Then do a bit more to ensure those avoiding tax when they should be paying it are caught and made to pay - often its the big boys and very rich people - but I know of small business that go 'cash in hand' that is tax avoidance when not declared.

Of course it’s bloody certain. How much more certain can factually correct be?

What on earth are you talking about? Why should someone who is lucky enough to retire early be taxed for that? I'm 48 and I'd stop working tomorrow if I could

Pah. Pensioners already have better deal than working people. It is ridiculous to continue that.

We have an under supply of working high level contributors and a growth industry of old and sick people. Obviously make sure those needs are covered but by god the message is clear that the needs of the old can't be the leading criteria for this budget.

It has to be working people because they are the source of growth and productivity for the future. Invest in schools and the young. Not pensioners moaning about paying tax.

They’re not taxed for it. Income is taxed exactly the same way whether it’s earned or passive.

The original post made it sound as though anyone lucky enough not to be working should be taxed extra! I probably misread it but who knows on MN?

All I can say is do try to be prudent, get a better-paying job or overtime - dont try to run before you can wlak - cut back on the tv deals, mobile contracts, etating out - take aways - holidays etc etc - we only borroed to by property otherwise it was 100% cash, why should we pay thousands in interest, so we waited to by a car, a better car, a better house, then when we had decent amounts of cash in the bank, we went on our first hols abroad.

No one gave us anything and nor did we want it. At one time we were paying 16% on our mortgage - that taught us to pay it off ASAP

IMO, if you have your health, there is very little stopping people from living a relatively comfy life but it takes time and you need to be prudent with savings and spending..

I'm not having a go at you but it is how we do it and did it

TBH - I could do with a bigger house, more holidays, travel business or first class, eat out regualrly wear designer goods etc, but then we'd soon run out of money You have to be prudent and the rest will come to you if you have your healt as helath is welath - esiecally in countries like the UK, USA, EU, etc etc

Good luck

It's not just rising the social rents with inflation.

A couple I know live in a 2 bed social house with their teenage son. They initially had a low income and both grew up in council houses so applied. They now earn £90k between them and yet still pay so little rent. As they now earn so much, they should pay a market value of rent. The extra money could be used to build more social housing.

Another friend lives in a privately rented house with her 2 boys. They pay over double what the social house couple does, yet earn about £31k combined salary.

The system needs to be made more fair. People need to take more responsibility for their actions and themselves.

Social security was a means to get back on your feet. Not a way of life.

Well given I believe from each according to their means to each according to their needs, and that inherited wealth is one of the major contributors to inequality and social injustice...I'll get my coat.

Totally agree. The tax burden for those in work is outrageous and they wonder why so many people have dropped out of the workforce. People get punished the harder they work. Raising taxes and continually throwing more money at issues isn't the solution. Time to reform the public sector and the massive burden of public sector pensions and waste.