Is there money to do what Labour wants to do?

[AutismHelp1980]

The majority of us are feeling optimistic today and we should!

However my concern is, is there the money to do what Labour needs to do? I keep thinking back to Gordon Brown selling off our gold!

I don’t know why people in the UK have this idea they pay high taxes. I live in Spain and we pay way higher taxes and the self employed pay even higher due to paying exorbitant fees for the privilege of being self employed (and then paying tax on top).

I suspect there is an ignorance with age too. Those who have only been adults 15 years or so don't have a comparison.

When I started work, Income tax was 30% (not the higher rate - that had just been slashed from 83% to about 60%).

This with bells on..

No.
They will get us into debt yet again.

Why are people still banging on about Gordon Brown selling (half of) the gold, when the Tories have sold public assets worth ten times as much since? Huge chunks of the NHS, Northern Rock, RBS and Lloyds’ shares, London Fire Brigade, most of our police stations, our stake in Eurostar, Royal Mail and lots more…

All while tripling the debt, plus the whole Trusterfuck. We’ve had years of listening to people bleating on about how “Labour have bankrupted the country”. Yet when the Tories do it on steroids, nobody even blinks. Labour may have spent a fortune, but at least we had jobs and excellent public services to show for it. The Tories sold off the family silver, hoiked up the debt (even before Covid) and we’ve had nothing to show for it.

Our taxes are lower than other Euro countries but we have more inequality eg too much burden on PAYE vs other taxes. Housing is a huge issue because it perpetuates the inequality and disadvantages the young.

Reginal Maudling (Conservative ) first said that to Jim Callaghan in 1964.

It was a JOKE that continued since then and even Liam Byrne has now apologised for weaponising it.

@MissAmbrosia are wages higher too? Genuine question, I’ve no idea. In my last job I earned under £22k for f/t (37.5 hours per week). I’m lucky that I have a fantastic husband who has a good pension and can do some consultancy work. The people I worked with who were on their own in rented accommodation really struggled.

None of the parties that have been in power in my 44 years have ever done anything to help single, childless, low-paid people.

@LutonBeds wages have stagnated which is another problem.

Agree, while chanting 'the greater good' nonsense, and tax payers are expected to be so pleased and happy to get heavily taxed to fund the lives of those who won't work, but seem to be the only people that matter, or people who work the bare minimum required and are incandescent that UC dare query anything.

The More or less programme on radio4 a couple of days ago explained the problem. Govs have been borrowing money and now we have huge interest payments to make on the loans.
I think the Blair Gov borrowed money, hence nhs doing ok, then the 2008 banking crash before loans had been paid back and we borrowed more to bail out those nice bankers, then Brexit mucked up industry, then Covid needed billions spent - more borrowing.
The global interest rates have gone way up (maybe due to wars,idk) so countries are skint trying to pay the high interest, sadly us more than most due to past and recent borrowing.

Middle earners in the UK are taxed comparatively low vs other European countries whereas higher earners pay more. The trouble is housing costs and wage stagnation which doesn’t leave much left over.

"Tax raids". What hyperbole.

My exh's grandmother always said "a Labour government always borrows money".

Liam Byrne didn’t weaponise it, it was Cameron and Osborne that weaponised it. Byrne apologised because he was being slaughtered left, right and centre even though EVERY outgoing Chief Executive to the Treasury had left a similar ‘funny’ note for the new administration for donkey’s years. It proves how nasty and viscous the Tories are.

Well she’d be wrong. Labour have historically borrowed less per year in government than the Conservatives, but people parrot the lie as if it’s a fact.

I guess some of you are just worried the good times are over now

https://www.theguardian.com/politics/2023/dec/29/only-top-half-of-uk-earners-to-benefit-from-lower-ni-payments-thinktank-warns

Well I don't have children but I do pay for private dentist and private medical all the while handing over more mo ey to subsidise other people's choices and so no I don't want to pay anymore tax thanks

Calm down, she's been dead for 31 years.

For higher tax payers tax is the same as in the UK but you also get a % of your income as pension so you are far better off if wealthier. France does not pay out things like working tax benefits and also has an insurance backed healthcare system where you pay to see a GP so no time wasters. It would be worth seeing what other countries do as our health system is inadequate compared to France.

I think they should increase the capital gains tax rates.I have always thought it odd that it is so much lower than taxes on income.

However what they shouldn't do is put it on your main home. There were whispers of that but it would be madness.

Hey Rishi! You ok hun?

@LumiB I hear you, very similar situation here. Husband and I both in full time work, have funded our own university educations with the exception of my BA, pay for private healthcare and have a hefty mortgage. We still have to budget very carefully and I am loathe to throw more money into supporting poor decisions and propping up failing institutions that are viewed through a sentimental lens.

This, and it'll be the squashed middle who'll be hit hardest, the nhs will only be available to those on benefits, the wealthy will be OK with their private health care, but those on minimum wage and squashed middle, we'll be taxed for services we're not able to use.

There are several ways to generate treasury income that haven't been explored and won't affect your average Joe.

These are things the Cons could have done ages ago but deliberately chose not to for ideological reasons.

A lot of people on this thread are just making up rubbish! Labour have said they'll raise the extra money by putting VAT on private school fees and closing all the loopholes so companies such as Facebook and Starbucks have to pay tax in the UK. In their manifesto they clearly set out where the money would come from.