To wonder how the UK will look in 3 years time?

[Labradorlover987]

I was inspired to write this after reading the UC post that was just reported - the govt’s welfare bill has passed but was watered down so unlikely to make any real savings.

I earn 40k, have a school age child and just feel like I am living hand to mouth 😩 I 100% think there should be a welfare systems that supports people on low incomes but I wonder how the current system will be sustained in the long run?

Just wondered what other people thought.

I actually wouldn’t mind paying more in taxes if we could be guaranteed more in services etc - for example my council tax just went up and the services seem even worse this year than usual.

Can you tell us how you calculated a figure of 62% tax on 100K?

Where do you live that you've never heard of this?

Have you fallen victim to the 62% ‘tax trap’? | TPO

I live in London, but none of my family is earning over 100K.

I’m obviously not moving in affluent enough circles 😂

I’m assuming you’ve been whacking some of your large salary into your pension pot to avoid paying tax? So you were ok with paying 62% tax when you weren’t actually paying 62% tax?

Your assumption is wrong.
But I'm not going to share my tax return.
It's difficult to comprehend that someone living in the UK and reading at least some news never heard of this, of childcare tax trap etc etc.
Anyway. Wishing you best of luck with your circumstances.

I still believe that what Labour are doing now with all their taxation and not clamping down welfare will give Reform majority in 2029 and then it's not going to be pretty. Especially for poor and vulnerable.

You’re a high earner who feels hard done by, who’s made an emotional argument for the government to address the hole in public finances by making the poorest people in the country poorer.

Nice.