AIBU Income Tax rise.

[H202too]

To be panicking about income tax rise.

Things are tight and to loae even £30-60 a month will be difficult.

I know people are talking about the mansion tax being a no go. But I would prefer this than taxing the workers as per usual.
The tax free rate should be put up. What a mess.

This Labour government got in by lying and now are pushing their real agenda. They look more like a third world country government. They do not even pay their own taxes or abide by the rules. Reeves now pretending she was not aware of the rental license she needed. Only fools or commies will side with them.

Nonsense. I don’t have thousands of pounds left at the end of the month. I have outgoings which aren’t suddenly going to decrease if tax goes up.

But so I want a functioning society with decent schools and healthcare that is accessible? Yes I do. Will this mean I have less money available to pay my mortgage and bills. Yes it will and that does worry me.

These net contributors, the well-paid, are being subsidized by the people who do essential and often unpleasant work for low wages.

They are 'hitting' pensions and pensioners though. Perhaps not via the triple lock but in other ways ie changing tax relief on pensions, changing the tax free lump sum, including pensions in estates for IHT.

Not saying I don't agree with these changes by the way. I'm just making the point that old people are being hit too just in more indirect ways perhaps.

Also by virtue of the fact that personal tax allowances are frozen more and more of us including pensioners will pay more tax each year.

I'm not a pensioner by the way nor entitled to any pensions yet.

Labour has already accepted they'll only have a single-term in office so none of that matters to them.

Yes in theory landlords would reduce rents because potential renters couldn’t afford more as they pay less tax, but where I am there’s about 50 people going for each rental property that comes on the market so it’s a mute point. We need to build more housing!

we already pay enough tax.

The average person pays less tax in the UK than most other European and OECD countries.

How are they being 'subsidised'?

I guess so. It’s the getting through the rest of it that will be bad.

We need to build more housing!

yep

And yet she's wasting £40 billion on quantitative tightening. I would say she's a fool and the ever increasing black hole in the economy is entirely the consequences of her actions.

That's a strange point to try and make, I pay 5 times the income tax and national insurance contributions of someone on full time minimum wage, that money comes off my wage slip, to then be funnelled to the person on minimum wage in the forms of working tax credits and other forms of benefits I am ineligible to receive, so how exactly am I being subsidised?

Yep. Barclays is forecasting that Reeves will be looking for £41bn in tax rises in the budget, up from their prediction of £26.5bn in September.

I agree. My comment was in response to someone commenting on the cost of the triple lock. There are too many trying to say that tax should increase, but that those increases shouldn’t apply to them. I believe that the more sensible approach is to increase tax a small amount for the majority of the population. It would raise much more than trying to tax only certain groups of people.

LOTS & LOTS of HM Treasury Money went missing on
HS2 to Birmingham and Crossrail /TFL with the
rest of GB plc getting old and creaking

Not much News and few ideas about Tax Avoidance & Tax Evasion
from the BIG or new Political Parties

The Buy-To-Let sector has escaped proper / realistic Taxation since 2000

I bet we don’t have more money left though. Plus we’re at highest taxes for 70 odd years

She needs to raise income and cut costs.

With this 'extra money' she needs to pay down the debt as well as grow the economy. Our interest rates on bonds will fall if she makes these good decisions which in turn helps us get rid of the debt/get out of the hole.

Both these things are the way out of the mess.

She also needs to use existing spending in a better way. So get rid of benefits for anxiety say and give us more frontline police. Get rid of illegal immigration say and use it for NHS improvements.

Very strange, especially as their manifesto was “fully costed” and wouldn’t need tax rises. Then last year’s tax increases were a “once in a generation” event and we wouldn’t need any more.

Reeves said, according to the BBC, “But this is the Budget that is needed to wipe the slate clean and to put our public finances on a firm trajectory." What’s happened since then? Either they originally miscalculated, or the country’s finance have worsened further under their leadership.

If we all end up paying additional income tax the only people who will get better services are the illegal immigrants. KS is taking money from disabled people to hand to the illegals. In France they are given a bed in a dorm whereas in the UK they get put into 4* hotels. The hotel in my town houses them. I can't wait to get rid of this useless law breaking government and Reform will take us out of ECHR and as they arrive send them back and ban them from receiving public money. It would stop innocent people being sexually assaulted too.

I am sure we'd all be happy to pay a bit more tax if we knew that it would improve our services. It seems clearer than ever that this is never going to happen though.

As the rich get richer and have access to the best of everything, the rest of us pay more and more for less. We have to fight for basic healthcare and accept that our children will not receive a consistently good education. Many of us are tired of working exceptionally hard for crumbs. I don't know what the answer is - I have no faith in any party that would stand a chance of being elected.

It will go to financing the increasing number of people who don’t work.

I’m not sure they would be. People are on their knees with increasing bills for council tax, energy and groceries and stagnating wages. What sounds like a small amount (only 2%) is actually 10%+ of people’s take home pay after paying unavoidable bills like utilities. It is the money they once put in a savings pot for a deposit on a first house or summer holiday. Other people are already at the point where they have nothing left after paying the mortgage, utilities and groceries. This will push them into a zone where they depend on food banks. It will increase suicide rates and it will almost certainly shrink the economy.

The wealthy are only wealthy because they are able to exploit those beneath them.

I think they got it so wrong at the last budget and won’t be able to patch it up with more taxes.

Yep DH has taken his 25% before they drop it!