COVID-19: Those earning above £19.5k should pay more tax after pandemic to help fix UK finances, says think-tank

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Your thoughts on this?

news.sky.com/story/covid-19-those-earning-above-19-5k-should-pay-more-tax-to-help-fix-finances-12130088

How should the debt be clawed back? What would you do if you were government to raise the money?

Your thoughts on this?

Unprintable.

However I would suggest that Eton, Harrow and Winchester should have placed less emphasis on rhetoric, and more on european revolutionary history. The alumni are clearly uninformed as to drivers in that direction.

It begins with F and ends in F and isn't "Floof".

Targeting those who have benefited most from Government money would be a good place to start. So furloughed workers, restaurants who took part in eat out to help out, etc.

Those of us who have helped kept the country running (we aren't all key workers, though a lot of us support key worker activities) by working and paying taxes should be insulated from such debt repayments.

To be honest, I’ve been a massive supporter of the furlough system and the nations debts do need repaid so I don’t think I can be against this idea.

I’ve earns throughout, as has H (more or less) and I count myself fortunate for that.

I think it probably has to happen, but it will be exceptionally painful for a lot of people.

@scottish83

Targeting those who have benefited most from Government money would be a good place to start. So furloughed workers, restaurants who took part in eat out to help out, etc.

Those of us who have helped kept the country running (we aren't all key workers, though a lot of us support key worker activities) by working and paying taxes should be insulated from such debt repayments.

People on furlough do pay tax and NI on their furlough pay, yes its government money but so are tax credits and universal credits and those benefits are tax free

19.5K seems a low threshold. Would the government then not need to pay more out in working tax credits to make up the shortfall as more people would be struggling to cover basic costs. We also need as many people as possible to have enough disposable income to put back into the economy. Tricky situation all round.

I think that those of on furlough should pay more tax. Why should I, just because I earn over 19,000, who has worked all throughout this pandemic, pay more tax back just because I earn more

Everyone should pay higher taxes to pay for it. We are supposed to all be in it together, we should all pay a small amount of extra tax. Maybe 1% extra for normal rate tax payers and 2% extra for higher rate.

This is going to be completely unacceptable for many people.

I didn't vote for this corrupt, inefficient, incompetent government that let coronavirus rip through this country in Feb/March/April/May and then reopened things recklessly and now we are back to square 1 for the whole winter. We are paying for their mistakes financially and with health and lives. It would have been a lot cheaper to lockdown properly (not let tens of thousands of infected people into the country between March and June without any quarantine or restrictions). Those countries that took a hard line against the virus have had much better economic outcomes.

Given that the supposed average income in the uk is £30k no I think £19.5k is way way too low a threshold, after tax that’s already the square root of fuck all without paying extra bloody tax on top. They should be after people earning £35k+ IMO.

I’d be in trouble. I live alone and consequently pay everything alone. If I had to pay more tax on my £21,500pa wage I’d be struggling to pay anything else after my bills. It seems a very low threshold

People who earn more than £19k already pay more tax than those who don't.
The more you earn, the more tax you pay. 20% of £40k is more than 20% of £20k.

That level of income is already penalised as you earn a couple of grand too much for any help like £500 COVID isolation help and free school meals and yet after tax it works out not much more than the threshold for those things.

I think we should all pay a bit more with those earning more or spending more paying more.

As a higher tax payer I expect to be hit harder than someone on lower wages so a sliding contribution seems sensible. As would an increase on tax for non essential items.

The way I see it is that everyone earning should contribute but on sliding scale. And if you have the money to buy a new car, sofa, holiday etc then again paying a bit more on top is justifiable.

And how do we get the government to repay the millions/billions of pounds that the government has been found to have misspent or waste in last week's report from the National Audit Office? Maybe criminal proceedings would be more appropriate.

@makingmiracles

Given that the supposed average income in the uk is £30k no I think £19.5k is way way too low a threshold, after tax that’s already the square root of fuck all without paying extra bloody tax on top. They should be after people earning £35k+ IMO.

Hear, hear. Let’s splash all the money on “eat out to help out” - actually I’d rather have been paid my full wage that I had to axe by 20% whilst still working full time...

My first thought was a sharp intake of breath at just how low it is, but I think it’s inevitable really, I hope it’s staggered and I hope it’s a percentage so those on more pay more.

I would also like to see a review of how the money was spent.

@LurgyOnTheLoose

I didn't vote for this corrupt, inefficient, incompetent government that let coronavirus rip through this country in Feb/March/April/May and then reopened things recklessly and now we are back to square 1 for the whole winter. We are paying for their mistakes financially and with health and lives. It would have been a lot cheaper to lockdown properly (not let tens of thousands of infected people into the country between March and June without any quarantine or restrictions). Those countries that took a hard line against the virus have had much better economic outcomes.

I agree with your politics but that has nothing to do with the OP’s question. The debt is there, like it or not. How do you propose it be repaid?

That’s not a very high wage at all. Doesn’t seem very fair.

Excuse me? So some people on this thread think that because I was on furlough through no choice of my own that I should pay more tax even though I'm already on minumum wage which isn't enough to live on as it is?

Fuck off.

And this whole idea is stupid, £19k isn't a high wage.

@Racoonworld

Everyone should pay higher taxes to pay for it. We are supposed to all be in it together, we should all pay a small amount of extra tax. Maybe 1% extra for normal rate tax payers and 2% extra for higher rate.

Agreed.

@Waxonwaxoff0

Excuse me? So some people on this thread think that because I was on furlough through no choice of my own that I should pay more tax even though I'm already on minumum wage which isn't enough to live on as it is?

Fuck off.

I agree. I worked full time but with a hefty pay cut. But no way do I think furloughed staff should be penalised, it not as though it’s been a choice. In fact it must be a scary prospect. I hope you’re doing okay x