To think Labour won't increase taxes

[ArtVandeelay]

And Reeves will pull a rabit out of the hat and reduce taxes or increase the tax threshold.

I believe all this talk is just to manage expectations, and they will end up doing something pretty impressive on Budget Day.

This. If you're going to raise taxes, do it at the start of the electoral cycle. Taxes will definitely go up. The pensions tax which only applies to private sector workers (those with shite pensions anyway) seemed particularly vindictive.

The pensions tax which only applies to private sector workers (those with shite pensions anyway) seemed particularly vindictive.

It'd be a terribly divisive idea.

Not really. Private companies have budgets. Staff budgets are inclusive of employers' NIC. If NIC goes up, the number of people that can be employed for the same money goes down a percent or two.

In the public sector any increase to NIC is paid for out of tax revenue. In other words, increase the cost of public sector payroll and you increase your own costs. It is a bit like standing in a bucket and trying to lift yourself.

I agree that it will be bloody next Wednesday. Get the bad stuff out now, then turn it around with sweetness and light in 4-5 years' time.

Hammering private pensions seems very short sighted

would be good if she could do some re jigging to get rid of the income tax cliff edges and just try to make the tax system in general more streamlined. But given they’ve promised not to touch income tax rates that’s going to be tough

It will lead to massive resentment. It’s a really short sighted proposal. People already resent the gold plated public sector pensions.

I expect you will be looking for a new one from November then

Possibly!

Can I ask who you think will win the next election? The Conservative Party is dead. They decided to become the Brexit party and have lurched to the right and served up a series of disastrous Prime Ministers. the days of them being the party of fiscal responsibility are long gone and I don’t see how any reasonable person could vote for them now.

Hopefully this is a blip like Labour with Corbyn and they will come to their senses soon.

How’s it going @ArtVandeelay ?