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?

@SittinOnTheDockOfTheBay and yes, I think EVERYONE should contribute. Including those who have worked throughout and those who have been on furlough throughout. I don't really fancy paying more tax myself seeing as I earn peanuts but if it needs to happen then it needs to happen. But it should be done fairly with every single person contributing.

You have benefitted from furlough but think that those who have worked throughout should pay for your furlough?

I've not been furloughed, don't actually know anyone who has. However surely anyone with a smidge of a brain understood why furlough was necessary. Do you think it would have been cheaper to not attempt to save any jobs or businesses long term?

A strong economy is the foundation out of debt. Not raising tax so that everyone has less money.

Focus should be 100% on encouraging the economy to get back on track - including tending to the economic wounds caused by Brexit.

I don’t agree it should be just furloughed people paying. Everyone has benefitted from industries being closed down and it was not the choice of the employees. You could turn it round and say that those who haven’t been financially affected during the pandemic should pay more and those that had their pay cut to 80% shouldn’t have to as they’ve already lost money.

Instead I've stayed at home not using public transport or restaurants or holiday resorts etc however when this is all over I expect to use the above again & for them to still exist.

And no I’m not on furlough, and we haven’t been affected financially. I actually feel quite guilty that we haven’t been affected when some people have lost so much.

It’s the working rich (let’s say people earning £80k or more per annum) who should pay for this.

Way too simplistic.

The 1% should pay more tax, Amazon and Google should pay some tax, anyone with bank accounts abroad should be paying more tax. This is easy. Any company or individual who has profited in a windfall way from the pandemic should pay more tax.

Is that meant to be a joke-how the hell can someone afford a mortgage/rent and bills in the UK and have any quality of life on 19k? Abysmal idea.. probs should be more like 35k+ at minimum..

The 1% should pay more tax, Amazon and Google should pay some tax, anyone with bank accounts abroad should be paying more tax.

How do you target them though since they are global?

[quote Waxonwaxoff0]@SittinOnTheDockOfTheBay I am not furloughed. I was furloughed for 4 months from April until August. I have been back at work since then. I am on minumum wage so I can assure you I did not "benefit" getting only 80% of my wage. Bitterness is never a good look.[/quote]
Did you not save money on commuting and child care costs? Did your in work benefits not go up to compensate?

If you are on NMW then it doesn't look like you will be paying for your furlough, if the plan OP mentioned goes ahead.

Way too simplistic.

Rubbish. Where there’s a will there’s a way.

Many will live to their means

Well of course, but they have a heck of a lot more “means” than most. A wealthy person can afford to pay more tax - the vast majority of low income families cannot spare a penny more.

(And I don’t see why they should).

Rubbish. Where there’s a will there’s a way.

Why is it rubbish? I just don't necessarily think someone earning a high salary has lots of spare money & lots of assets.

How about some accountability for how the money was spent? Wasted payments should be returned, ie. where ppe was inadequate, app was a failure etc

@SittinOnTheDockOfTheBay I don't have commuting costs as I walk to work. I possibly saved a tiny bit in childcare costs but as a single parent on a low wage I get tax credits to cover most of those costs usually. DS is primary school age so I only have wrap around childcare costs and school holidays.

My benefits did not go up as I'm a homeowner so I don't get any benefits to cover housing costs. I get working tax credits but they don't change until the new tax year as I'm still on legacy benefits, it's not like Universal Credit where it changes every month.

A wealthy person can afford to pay more tax

Hang on, are you talking about wealthy people or people who earn high salaries. They aren't necessarily the same thing. Assets tend to make you wealthy.

It’s the working rich (let’s say people earning £80k or more per annum) who should pay for this.
Personally I prefer to see the non working rich pay more. Inheritance tax would be a good start.

Even without childcare costs or commuting, of course people on furlough benefitted. No work but still getting the majority of their salary ... of course that’s a huge benefit.

£19.5k is min wage for hospitality where 40-50hr weeks are the norm.

So at this threshold we are asking the lowest paid in society to pay back money they received as compensation for not being allowed to work.

Shocked at how bitter some people are about furloughed workers.

@IceCreamAndCandyfloss so what should they have done? Plus many low workers wouldn't have had the disposable income in the first place to save & not everyone has young dc or dc at all.

Shocked at how bitter some people are about furloughed workers.

I don't understand. Yes it's been hell to homeschool & work, I've never been so tired. However I have a job, received my full salary & managed to save some. I feel lucky.

@Kendodd

Shocked at how bitter some people are about furloughed workers.

I’m finding it really upsetting tbh.

I lost my previous job after the first round of furlough. Very fortunate to have the job I have now but the worry of losing another job is all consuming.

Knowing that people think we’re lounging around enjoying our break while raking it in is quite hard to take, really.