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

DH and I both pay tax on our pensions, we cannot claim our state pension for another decade.

It’s been mooted that it’s Cash ISA products and not stocks and shares ISA products.

Just read your own post back to yourself - for the NI increase to have raised more it would have to have taken more money away from businesses - you know, the money they use to pay employees and invest in developing the business.

If they'd gone for income tax then people running businesses (like me) would have moaned for a bit but wouldn't have had to revisit budgets and longer term plans to cut costs and investment spend to make everything balance again. We have managed to do it without redundancies but we have cut future hiring plans and deferred investment in the modernisation of some of our systems. All anti-growth and again, all entirely predictable.

(I'm posting assuming you're not one of the "grr, business bad" people - no need to reply if you are)

About time too, its ridiculous that ISAs, originally set up to help ordinary people save, are now used to avoid tax for v wealthy people.

ISA's Peps and Tessa's originally were not cash only, i think 50% had to be in stocks & that was at a time when these things were invested in the UK..

Now we give tax advantages to invest in other countries...madness.

Cash ISAs are mainly what pensioners have, people are not going to want to invest for years when they are old and risk losing their money. So no surprise there if they go.

Happy to pay taxes but it has now become like financial abuse in this country. I rather live in a society where you can prosper and create wealth and not working to mainly pay for the benefits of others. Whether is Labour or Tories both have contributed to this mess. I do not see any future here.

I agree there is too much weight of income taxes and we need to rebalance. Much of the west are facing similar demographic issues in terms of a shrinking tax base. @dottiehens where do you think is better?

Oh good another terrified of Labour post. These really are circular. Is Trump the bees knees today?

I would rather by far have our current government than say, Farage with his nose up Trumps and therefore Putins arse. Imagine if Truss was PM right now, how many Nazi salutes would we have seen from the house?

Get a grip- currently there are much ore terrifying things happening than a Labour government.

Wow, this thread has brought out a lot of bitterness - perhaps it's just a thread too many (must have been dozens of them, yawn 🥱). I learnt a long time ago, no point worrying about stuff you can't alter or might never happen and this comes under that umbrella. Chill.

There is £723 billion invested in ISA's, with almost zero benefit to the govt or the average tax payer.

A limit on the amount that can be held in either cash or shares would be fairer and raise a lot of money

I was happy to listen to you before you spouted playground shite like this.

That's why I'm going on a spending spree, they can't grab what I don't have.

For years now the middle classes have done well while the poorest most vulnerable members of society have been systematically shafted to breaking point. People have died. Wealthier people didn’t give a shiny shite when people were freezing to death on the streets, or when diabetics died because they couldn’t keep their insulin cold because they’d run out of electricity, or when very sick and disabled people were being forced into work.

Now we’ll potentially have to pay a bit more tax. Suddenly people care now that the previous government policy of GIFTING money (by way of tax breaks) to the already comfortable may stop.

Why should taxpayers gift you money while the poorest are using food banks?

@indigovapour I'm aware of how NI works & I am not arguing it will raise more money just saying I thought that was what labour said. I do think it will impact some employees & I expect some employers to raise prices. I personally don't think we can solve the productivity/growth puzzle.

Didn’t vote for them, don’t like some of the things they’ve done but scared? No. That’s a bit silly.

State pension IS taxed. If you have another pension and so are over the tax threshold, your state pension counts towards your allowance.

Didn't take long for your true colours to show did it?

I'm not going to shed any tears for tax dodging farmers finally having to pay their share.

I'm not going to shed any tears for wealthy pensioners who won't get their winter fuel allowance , as it makes total sense for that to be given to those who really need it

You've been protected for 14 years by a rich person's corrupt cabal, whilst not being bothered about the most vulnerable in society being penalised.

Time to pay your fair share now I'm afraid.

Isn't RR too old to have an A* in maths.

You clearly know nothing about farming. Please don’t post ignorant comments.

Pensioners have the same personal allowance as everyone else. You may be confusing with tax on savings which has different allowances for people who have a lower income than the personal allowance threshold.

Why will it mean the end for your uncle to pay a tax that other people pay? The farm would have to be worth a hell of a lot for tax to become payable.

Were you not "terrified" when fuel prices and inflation shot up under the Conservatives?

No, I’m not in the least bit worried by any of this nonsense. Why? Should I be?

We pay so much less income tax than the rest of Western Europe, yet expect similar services. It’s madness. we need to take another look at sickness benefits. Yes some people are clearly too unwell to work but a lot aren’t and the number of people off work with mental health conditions is crazy. Cut benefits here and invest the savings in better mental health services.

Now you are scared?

When people were posting on here last Spring and Summer about being worried about what Labour might do they were laughed at and ridiculed.

And here we are now.

I'm a pensioner. I'm not bothered about the fuel allowance. The simple fact is that the last government left the economy in a disastrous state and wasted billions on things like PPE contracts with their mates and the utter nonsense of the Rwanda proposal. The current government was left with very few choices, and I'm very grateful that we now have grown-ups in charge.

Farmers are so important and they work ridiculously hard in very difficult conditions. They should be treasured and treated better.

The proposed tax changes send out a very clear message and it’s not good for farmers, food production and the country in general.

The Labour Party seem to be a party of complete muppets.

They don’t tax the state pension as such. Unfortunately the personal limits are frozen so more people have to pay tax as their income increase.