Tax increases imminent

[Iwishicouldflyhigh]

Heavy hints that taxes will rise in the next Budget after the recent climb down (as the ‘taxes won’t rise again’ was based on a 5 billion saving in benefits).

I can’t lie, I’m so pissed off about this. I don’t think anyone wants to see someone who is genuinely unable to work to be further penalised, but we all know there are thousands of people who could work but don’t.

this country is going to absolute shit . We pay more and more for less and less.

And we had more oil than Norway but our government gave it all away so a few could get rich

Unlike all other countries in Europe and Oz/Nz - it is not really “contributions based” in terms of how much you earn though… So the vast majority are not paying anything near enough to get the 12K+ a year they are entitled to. (I include myself in this).

National superannuation in NZ has nothing to do with how much you earn, or any "contributions". Everyone 65 and over is entitled to it, whether they are the richest person in the country or have never worked a day in their life, and everyone gets the same as someone else in the same living situation. It's an extremely simple method.

When someone mentions the Laffer curve, you know they are talking b*ocks

There you are saying it yourself. The rich are not here for the weather. Of course, they can afford to pay another £15m or £30m tax. But they are not going to. They will just go somewhere that will tax them less.

RR had exactly that thinking when she abolished non-dom status. After thousands of millionaires left, she had to back track.

I tink it will be good for the housing market - prices will come down. Unfortunately, it will also leave more people without jobs so they will still not be able to buy. But at least if my house falls in value, there will be less inheritance tax to pay and at least my kids will have somewhere to live.

Yes -I agree-seems simple but AR is bringing in stricter rules regards getting rid of bad or lazy employees and putting more costs on small businesses.
Why would a small business take on someone who’s been on benefits for years if you are stuck with them forever.

Simply not true.
The ability to get rid of poor employees will remain as it is now.

V small businesses will be exempt in any case.

Do you want compulsory ZHC ? Fire and re hire? such as occurred with PO ? Companies taking adv of trainees grants, then simply sacking the trainee and getting another......

When are people going to realise that unless we have a happy content workforce, productivity will never increase?

Countries like Germany France with far higher employment protection laws, have consistently higher productivity but can still get rid of workers ie look at VW job losses in Germany.....

Hasn't that claim that 1000s left now been debunked?

Nom Dom changes were actually introduced by Sunak.

Johnson was a travesty of a human being, never mind a politician.
Labour are a bunch of innocents compared to the corrupt, lying tories. And Labour are still rubbish. Why aren't they taxing the rich?

As a disability outreach worker l was often involved in helping disabled people into work and one of the biggest hurdles was actually trying to convince employers - large and small business alike - to give disabled people a chance when they had been on benefits for a while. The perception was that they would not be reliable because of their condition or disability and that they would be difficult to let go because disability is a protected characteristic. I think sometimes the misguided perception of something doesn’t tally with the reality.

And you’re assuming the present government will last until 2029.

Do you feel the same way about child benefit ? Because if you’re going to continue to support parents to simply have children then you’ve got a pretty weak argument for not providing extra support for those who have disabled children.

By what mechanism could the government be brought down? Labour MPs are hardly likely to vote to possibly end their own careers early via a VONC in the government.

There may be lots of infighting, there might be a change of leader, but that doesn't mean the government is brought down. The Tories were doing the same during the five years of their last administration.

Define ‘rich’.

Await yours.

Why wouldn’t it? None of that huge majority is going to commit electoral suicide by voting no confidence in it, which is the only thing that could lead to an early election.

Over £10k of millionaires have left since last year.

The previous government announced changes but never made any.

In her first budget last Oct RR announced non dom status will be abolished in April 2025. She has since backtracked on some of the changes. Surprise surprise.

I don’t get taxing the rich - 40% is nearly half your earnings.
and as many rich will be paying for private education.private healthcare, don’t rely on benefits or sicial housing they are getting 0 out of it. And it’s not just salary that is taxed so is interest on savings, capital gains on bonds or property.

To prop up a system which has no controls over corrupt practices. And many non-working.

And yet the damage has been done.

Nobody with any meaningful wealth, or aspiration to create any, will ever trust this Government.

The arbitrage with other jurisdictions is wide open.

Agree @messybutfunif it wasn’t impacting finances they wouldn’t have backtracked. Then again all their policies are impacting growth and receipts, not least the £100bn debt servicing which is a chunk of tax paid.

Fiscal policy designed around ideology and envy, and driven by their voter base and the unionised sectors, are always going to be bad policy.

And so it is unfolding.

Yes I support the current situation where high earners don't get child benefit.

And most people paying 40% aren’t rich, that threshold applies from £43k in Scotland so no they’re not paying for private schools and private healthcare, they’re paying their mortgage and grocery bills.

What a daft thing to say. You think the chart of tax rate vs tax take is a positive gradient straight line and behaviour never changes? THAT would be talking bollocks.

If not then it is of course a curve and what, you’re taking issue with who named it?

Johnson was an outright liar

The MPs will just continue voting against the changes that are actually needed, making it a zombie government. Starmer will have two choices - to continue for another 4 years basically achieving nothing or resigning (maybe after a no confidence vote) so there's a change of leader.

Yes, there could be a change of leader before 2029, but that's not the same as Labour not making it to 2029, which is what pp was talking about.

Labour MPs have voted for most things presented to them so far, haven't they?