Scared of what labour will do

[Wantachangefor2024]

Is anyone else terrified of what labour will enforce. The tax on farmers. Will they means test pip? Will they tax state pension more? What else will they do and where will it all end. They ruthlessly without no care took away the winter fuel allowance. Means testing and taxing state pension would massively impact my family

No.

Any government in power would be doing a combo of cutting services/raising taxes. The country is broke.

How many posts can there be on this?! You must have been terrified when the Conservatives destroyed the country with their 14 years of cutbacks, greed, chaos, and corruption?

Farmers pay income tax on their profit. Many farmers don’t make a profit some years, most don’t make a huge profit, due to the ever-rising costs associated with farming. Many don’t own the land their farms are on.
PIP isn’t and never will be means-tested.
State pension already isn’t taxed, so they can’t “tax it more”.

Rubbish.

The UK state pension is taxed as income.

it’s the inheritance tax on farms I’m worried about. There is so much talk of taxing state pension and means testing I really wouldn’t say it will never happen. Of course, yes under the Tory government we suffered. But the suffering could be insurmountable with what there’s talk of. I never felt anxiety before over a governments decisions and I really feel under labour we could see cuts far greater than we’ve ever seen.

Do you have a farm that will.be liable for inheritance tax?

My uncle took over my grandads farm and it will be the end for the passing down to future generations. I’ve never known my family fear something like this. There’s so much talk of we need to spend more on defence etc. if we went to war we couldn’t feeds ourselves as it is. Never mind decimating farming all together

Every govt changes the rules a little.

This govt is financially completely incompetent but they have been voted in for a term and unless they self destruct, we are stuck with them for another 4 years and 5 months.

All any of us can do is batten down the hatches, cut back spending to a minimum, economise, work/save more if you can and look after those around us wherever possible.

It will pass. Your uncle just needs to survive to 2029 so look after him. The next govt will reverse the tax.

It's all talk. It fills the papers and starts conversations and I'm sick of all the 'this might happen ' and 'that might happen' tales. Unfortunately we shall just have to take each day as it comes and see what they pull out of the bag next. Stressing and hand wringing changes and solves absolutely nothing.

@Skynorth Pensioners are taxed in exactly the same way as everyone else. We all get our personal allowance - about £12k income - and then pay tax on anything above that.

Pensioners are the same. If their income rises above the personal allowance, they pay tax just the same as you or I.

Well this is what everyone voted for! Everyone cheered when my family was affected by the 20% VAT. How I’ve laughed now all the PIP and pension people are quaking in their boots! It’s not nice is it?!

There's not one government that hasn't upset their very own electorate. Liars and rich with zero empathy, nor a maths gcse between them you would think.
It's hard to understand how they do it.
Heartbreaking for those that struggle.

Rachel Reeves will claim she got an A* in Maths, in reality most likely a D. She’ll be claiming she was an astronaut for nasa next

You sound like you love a bit of GB news.

Not read the thread. Honestly @Wantachangefor2024 please don't worry about the future because all it is at the moment is words and smoke and mirrors. Please do try to switch off and relax and just deal with each issue that effects you personally as it comes. Try not reading social media or the news.

Think about in all honesty what's getting said, reported and mentioned in the news daily at the minute, day by day. Then cast your mind back to what's been realised news worthy in our time from years ago.

Whats getting reported in the news is just that news. The people in power in every country are many, many steps ahead of us.

In the words of Doris Day... The futures not ours to see.

How beautifully put. I actually used to watch news and read obsessively on the latest, but I have built a cocoon and feel it is all scaremongering or skewed disinformation. So no, to the pp, I have never watched GB news

Actually pensioners have a higher personal allowance and don't pay NI.

Oh and we don't all " get our personal allowance" not if you earn over £100,000 and not at all over £125,000.

@Wantachangefor2024 you done the right thing not to overload yourself with news. Remember that the news only report the sensational bits and drive a narrative, no matter the side. You can always look up the original sour source if you are interested in something.

Unfortunately op, mumsnet over the past few years has become a place of shut down to anyone who wants to talk about or think about anything.

I really don't think anyone earning over six figures needs help, do you !

I’m discovering the shut down! In real life if you were in the hairdressers and brought up a topic it would be women voicing their concerns and worries. Strangers talking and discussing. Not snarky comments

Nah, whatever happens over the next couple of decades is entirely on the Tory voter base. You chose to enrich the 1% at the expense of everyone else and now you'll need to deal with the fallout.

I'm just glad I'm insulated enough to not have to worry about it tbh.

I clicked on this fully expecting it to be a post about being scared of childbirth. I do wish people would use caps when it's correct to do so!

I'm more worried about the hell Trump is going to unleash on the planet.

OP encourage your family farmers to get some decent tax advice. And keep their minds open to making some changes to their business to enable it to continue to be passed on. There are options - none perfect but there are some options