To ask how much you think income tax will rise by?

[Wonderofwimbledon]

We’re absolutely financially at our limit… I’m so incredibly stressed. An income tax rise will break us and we won’t be able to afford it. We won’t have money to eat.

What do you think it’ll be? I just want to curl up and cry- we can’t take anymore increases our bills , mortgage everything has increased we have no spare money at all

also a lot more inactive people

Maybe the first 20 billion black hole, but the second 50 billion one 6 months later?? You’re going to have to work very hard to sell that. From gilt yield rates to inflation to capital flight to unemployment, it had all got much worse since Labour have been in Government.

It was all “fully funded” at point of GE. Then budget with £70bn tax and borrowing hike hitting SMEs and debt cost

Yes this and @rhayader

Sorry I meant to add a graph above but I think I added it wrong. Hopefully this will work.

As much as NI falls by

@EasternStandard

yes agreed. It’s a messy cocktail of incompetence and circumstance.

Yep, fully funded assuming the information the Tories had passed on was correct, but it wasn't. They lied, they deliberately hid the financial commitments in order to hamstring the incoming Labour government.

Look at the post office scandal. All the delays in paying the affected, so it would be Labour's issue. Same with the infected blood scandal, the Tories kicked the can down the road for the next government to deal with

Yes, tax rises will hurt, but they have to happen because of the legacy of the Tory government. It'll take years to fix

Have no idea what will actually happen but what I would like to see happen is a move to household taxation rather than individual taxation.

All other things being equal, single parents are contributing a way higher tax take than two parent families.

So doctors, train drivers, teachers, prison guards, pilots, senior nurses, GPs, coroners, police officer, judges, lorry drivers, plumbers, electricians etc etc aren't working? You're right, it is insulting, and stupid.

I’m sorry, this just doesn’t make sense. Rachel found a 20 billion black hole which she filled with tax raises 11 months ago and now she has a new 50 billion black hole to fill.

I really sympathise OP, my DP has just been made redundant and generally I feel sick most of the time. Best hope tax goes up, NI goes down.

I’m all for universal income £12k from the government and tax if you earn. This would end our bonkers civil service benefits system take away the anger and get this country moving financially.

My DH earns 47,000 I earn 14,500. I can assure living in the south East and with two young children we are not wealthy !!!!

Last year when people had to pull kids from private schools people were cheering. I knew they would not stop there. I m horrified of the potential consequences of this chancellor’s incompetence. The people blaming the tories. May be that was a last year excuse. This is all on them now. The black hole has more than doubled since they are in.

there is talk of them adding VAT onto private healthcare, which is another “wealthy “ perk. few years ago we had to make a decision to go private with a family member as the doctor had advised the NHS would not help. The treatment was incredibly effective and quick and we paid nearly £3000 for that it was life changing for that person. At the time they didn’t have the money and we had to make that decision on there before have to help them the NHS was interested I would be incredibly disappointed that they would be charging an extra 20% on healthcare when so many people have no other choice.

I mean...

....does nobody earning NMW "work hard"?

I give 110% everyday but apparently that doesn't count. I'd wager my job is significantly stressful and physical but apparently unless you're a higher earner you don't work hard?

And I'm not disputing that people who are high earners work hard, I'm very sure they do. But not everyone earning NMW is doing so cos they can't be arsed or theyre thick as shit. Sometimes life throws unfortunate circumstances at you (such as disability) which majorly limits your options but you do what you can. I wish my job was as easy as many assume it is but I doubt most people would last a week tbh..... And yes its "only retail" (which weirdly was one of the jobs that deemed me an "essential worker"-even had the fancy letter lol during COVID when everyone else was still on furlough...🤷.)

Some high earners do not even really work. They don't work hard, they work smart. Money from investments etc.

I hate that many on MN seem to have it in for NMW workers. I have seen it on a lot of threads recently. People being on min wage being asked what they are doing to better themselves, as on some weird planet people on min wage should only ever be doing it temporarily.
Many on here not understanding that you can be in a min wage job for all of your life. They just don't get it.
Then they get blamed for feeling the pinch and ending up in poverty. All their fault for "not trying hard enough", and also being a "drain" because being on a low wage can get you UC top ups (but only if you have kids - if you don't then you are on your own).

Vitriol towards the low paid workers who need top ups - those same workers who scrub the bogs in offices, look after the elderly in care homes, serve the Pret coffees each day.

Except the poor have been crucified for 14 years and told to get on with it.

OP, i feel for you and it's horrid.

Id drop the swimming lessons.

Im on minimum wage, rent, can't afford a car and get pip. If they change anything for me then the only thing I can alter at this point is food, and I'm already way below other mumsnetters budgets in this.

I don't say this to be a twat, I'm really sorry you're in this boat, but it's been going this way for years. The poor cannot take any more austerity. If you want someone else to take the tax burden look to those higher than you and vote accordingly.

I liked the 10p rate. I wonder if they will float that again. Apart from anything else completely changing the rates and bands would make it harder to directly compare. The cliff edges alter peoples behaviour. Loads of people don’t want antisocial hours or overtime if if pushes them to the 40% bracket because you feel like you are doing extra work for less than it’s worth. I know people working hardly any hours to avoid paying income tax at all and there are a fuck ton of people getting £1k a month “through the books” and the rest cash in hand.

10p from 5-15k
22p 15-40k
35p 40-70k
45p 70k plus

Of better numbers that I haven’t just pulled out of my arse.

Idk how it looks when people who most people do consider to be “working people” such as nurses and police officers are expected to take the brunt. I’m nhs band 6 clinical and pretty appalled that not only does RR think I don’t “work hard” (I do) but she thinks I’m not a working person at all. Maybe they will stop paying me altogether.

I'm with you Op. Scared shitless here too. No savings, mortgage, 2 kids at university on minimum loan. We do nothing fun at all as it is. We will be so fucked. No I didn't vote Labour. Never in a million years.

I dont think that's what people on this thread are saying. Reeves is apparently now using a batshit definition that "working people" are only those earning <£40-odd thousand. So the posters are specifically questioning the batshittery of her deciding that people in a huge range of completely fucking normal jobs are "not working people." That doesn't mean they don't think NMW are working too - the point is this stupid delineation Reeves is trying to use is crazy.

In her world you are already in the working group. Which is why it wasn't listed.

As someone in their 20s I always feel behind the curve when it comes to income. Whenever I get a decent pay rise it’s like the government suspiciously times the budget to rinse me
further

@KitTea3 Attitudes to low and non contributors are hardening, the FT had a recent article on this which I can’t find. It’s not really a surprise when people paying under £3k tax are being gaslit by their Government to accuse those paying £30k tax of not paying their fair share and to cheer on their children having to move schools. There will be very little good will from net tax payers under the next Government.

On 72k apparently ours will rise by 99 a month