to think 51% tax is ridiculous, and already to be planning to move to Asia

[hedgiemum]

Namechanged. Married to someone who earns well in excess of £150,000 a year, though neither does he earn 7 figures.
He is still quite young in his career - a recent promotion to a senior position, but has not been earning this kind of money of long, so we still have a mortgage and haven't saved large amounts (what we have saved is through his pension which is no longer going to be particularly worth doing.)

He phoned me a minute after end of budget to say he'd watched it with his boss whose reaction was that he would move the company (not a bank, but in finance) to Asia. Probably Hong Kong - 12% tax rather than the 51% we'd be paying here.

Seems like a kneejerk reaction, and clearly we can afford to pay more, but boss doesn't feel he'll get good productivity from staff if they are getting to take home less than half their income. Plus it decreases ever-present risk of them being headhunted by companies in lower-tax economies.

AIBU to be PLEASED (I used to hate tax exiles.) Partly because it just does not seem fair. Partly because this country has been run so badly by New Labour of whom we had such high expectations, and the medical care we have received has been shite, the local schools are shite, the roads are insanely busy and yet is costs so much to live here.

'people in the public sector have a better life to work ratio than those in the private - no, not ALL but most. '

Whatever planet you're living on, I want to immigrate!

no I meant "need" as in "need"

Lets face it - why did all these people end up earning such stupid amounts of money?? Because someone (probably the ones at the top already doing very nicely) decided they deserved to be paid more money so their salary went up, and up, and up. While those at the bottom of the ladder saw very little (if any) increases in their pay.

Did they do that because they needed more money - or because they were greedy bastards who wanted more money???

I believe it's absolutely true. I don't know many council workers that clock up 60 hour weeks.

The economy is like a game of monopoly with many of the rules being arbitrary. You can get ahead of the game with some skill and effort, but if someone made up a rule that anyone who owned say a railway station got to collect £2,000,000 each time they passed go then that it would make anyone elses efforts meaningless.
It wouldn't make the owners of the railway stations better players or more deserving people.

FAQinglovely, glad you pointed out that allowing poor people to earn a decent wage and have money to spend will take the place of the rich spenders.

But FAQ you're making the assumption again that everyone is a banker. It really isn't like that for all high earners.
I write a book and it goes on sale. If everyone buys it I make a lot of royalties, if they dont, I don't. All the risk is mine.
If I do well and earn over 150k it'a not because anyone gave me a bonus or was swindling the poor - it's because I sold more books. It really is as simple as that.
Do I need it? Probably not. But it is my money, earned fairly and squarely.

ooops didn't finish my post.

So = as salaries went up then the expectations of those lucky enough to climb the work ladder also increased - meaning they expected to be paid the same money (or better!) - and now many of them believe that because the people who've gone before them hiked their own salaries to such ridicluos proportions that they also are entitled to it.

And - with regards to yourself, I can't quite put my finger on why put I see your situation as different if you're a writer

Although I should say - my views on the 50% tax rate remain the same regardless of how you earn your £££££'s

Nancy66 - I know quite a few.

Unfortunately the most visible members of the public sector are often those who coast, and it is possible to coast. However, there are lots of people at a senior level doing an incredibly hard job, and one where you have to balance lots of complicated and important factors - things that really matter to people's lives - in the public sector, putting in long hours every week, and who in many cases still don't earn enough to pay this new tax rate.

Nancy66, Do you know many council workers?

As a matter of fact I was one once and did any overtime going to make ends meet, but I didn't get to choose my hours.

Yep I do know quite a few - paid overtime is another perk of public sector working.

oooooooo all this talk of council workers has just reminded me it's bin day tomorrow - mustn't forget to put it out before I do the school run

Perhaps the reason it feels different is because writers expect nothing. We could quite easily sell bugger all so that feeling that somehow we deserve it is not there. I'm pondering only here. It would be simialr to the restaurant owners - they are putting everything o the line and know it might go tits up so actually if it went brilliantly and they meade a killing we'd still be rooting for them.

Since when has paid overtime been confined to the public sector? I have worked in several public sector environments where it wasn't an option at all, and have also worked in private sector companies (and know many others who have) who did pay overtime. It's hardly a specific perk for one sector.

you do know that not all private sector workers earn more than their public sector equivalents don't you??

If I'd have worked as a public sector carer in a care home I would have quite a bit better off than working in the private sector.

£5.52 (the then minimum wage) for working a night shift wiping shitty arses

I think it's because people are happier to acknowledge the value of the 'product' if you're a writer or a restaurateur - you're actually using your skill to create something. Whereas the public perception of finance workers - especially at the moment - is that they are essentially legal fraudsters who live off the country's assets, and whose sole purpose is to enrich themselves and their clients.

I still think that a writer earning £150,000 should pay the top whack of tax though.

Paid overtime in the public sector is pretty much a given - in the private sector it's not.

I'm self employed now but in the 15 years before that i never once got paid over time. None of my friends do either.

Litchick you should move to Ireland where you'd pay no tax, like Bono et al, they make you fucking laugh, shouting for us all to donate to the third world and yet I'd like to see his and Geldof's tax returns.

Just a few points FYI

The last rise in tax rates was when they removed the 10% tax rate taxing all earnings of the very low paid @20% (someone did calculations way back in the thread as if 10%rate still existed. That change meant that I, (state pension + miniscule self funded private pension) had my tax bill DOUBLED at a stroke.

No one has mentioned the VOLUNTARY sector, where wages are even lower that public sector, terms and conditions are pathetic and usually ignored because the clients needs always come first, stress and responsibility levels are high (I am talking as an ex Women's Aid worker here) and compounded by job insecurity as every penny of grant funding has to be fought for, is always paid late, can be withdrawn without notice, etc. etc. TOIL is a joke, and everyone seems to work or be on call for double their contracted hours.

Not actually complaining here - my choice to work in the voluntary sector - had a real need to do something useful with my life and could not have say, sold double glazing for a living.

Last point - Monthly pte pension (after tax) £143; Monthly Council TAX bill £325. So - 50% tax on earnings over £150,000 = nothing to complain about.

Nancy66 I am public sector worker and you will rarely hear me whinge or for that matter any of my colleagues that I work with. I have the odd moan every now and again, but doesnt everybody. I am not impressed for example that dp has gone to bed randy and alone and I am downstairs planning a lesson on liberation theology ( quite apt I though atm) and then have exam papers to mark. But I am only temporarily narked because tomorrow I get to do a job I love and I get paid for it. Life does not get much better. I have a nice life, a good pension and good holidays but would dispute that I have a cushy life but each to their own.

I wouldn't want to do your job,I suspect you would not want to do mine, we are all happy.

Exactly Twinset.

People are bleating on about the 'public sector bashing' while, in the same sentence, calling high earners 'greedy bastards.'

PNSL Twinset - I skim read you post and thought you'd written

"only temporarily naked" and was thinking no wonder he went to bed randy

ermm I think it was I that used the term "greedy bastards" - and I'm not aware of having done any public sector bashing???

YABU, and tactless. Count your blessings and stop being idiotic (and innumerate).

'people in the public sector have a better life to work ratio than those in the private - no, not ALL but most.

I suspect you may be right, I think lots dont but we can make that choice. I barely have any family time during term time weeks, but I don't have to work like that. I do also have my holidays in which I can have time with my family and make up for the fact I am quite a shite partner and mother for the rest of the year. I would imagine that mnay people earning 150K dont have a choice in the matter But they knew that when they took the job and have made their choice as have I.

FAQ I am actually working naked while my fake tan dries. I may be a lowly public sector worker but I am still vain.