Fundamentally, the country is broke, the NHS is broken, public sector spending (and pensions) are out of control- and the big savings so far is a) winter fuel allowance (hitting some very badly off pensioners) and VAT on independent schools (hitting a lot of children with undiagnosed SEN) - both policies unlikely to bring in anywhere near what they are expected to do
We are still a very wealthy country, with, compared to many countries in Europe, low tax rates, we have spent the last 14 years helping the wealthy get wealthier but look how that has worked out for the rest of us???
if we then start to clobber highly movable people who pays a huge amount of tax revenue (if you not are a UK citizen, expect to realise a huge capital gain, why would you do that in the U.K. if you can live abroad for a couple of years), the finances will not really improve?
This always gets trotted out, are these "very movable people" paying huge amounts of tax? they use 'vehicles to ensure they do not but even if they don't avoid tax:
Someone i know has been paying 10% entrepreneurs tax on profit of over £16m, the rules have changed now (to just the first 1m in profit) but he paid £1.6m tax... all legally done, in fact encouraged.
Not super rich, just the owner of a med sized company.
Sunak, not a billionaire, paid just 20% on almost £2m of investment income, his own investments in the USA, plenty of people will be paying very similar low rates of tax on un earned income, we could also look at increasing the amounts charged on the higher rate council bands too, you think people will leave because their CT bill doubles???
100s of billions get moved out of the UK to avoid tax, nothing illegal but this idea that we cannot tighten up/change the rules because they will leave is completely wrong.