Keir Starmer and possible wealth tax

[errjql]

Here is a Financial Times article (from 2020) where Starmer is quoted as having said that the "government should look at the idea of a wealth tax".

The model that the report authors chose would mean that 8 million of us would pay a 5% one off payments on net assets over £500k - and those assets include the primary family home.

Charging 8 million people a minimum of £25k each (with no maximum!), simply for existing, is absolutely shocking. Plenty would have to remortgage to liquidate that kind of cash from a 500k home.

If you are voting labour, you need to be wary of what kind of fuckery they have planned but not bothered sharing. They've only shared vote winning stuff.

No I am not a fucking tory bot. Vote anything you bloody want. But do it with your eyes open and not just because you "hate tories". Tories for sure are twats. But labour might be simply be straight up robbers.

One-off 5% wealth tax would raise £262bn to cover Covid costs, study finds (ft.com)

"look at the idea of a wealth tax". In 2020. Last ditch scaremongering.

In any case, the idea of looking at taxing assets rather than income might actually be a vote winner for some.

And even if it were to be looked at I imagine the threshold might well be higher now.

Well this is scraping the barrel for Labour slurs

Nevertheless taxing assets rather than income is a vote winner for me (yes I own assets)

So, I pay once and then get ongoing improved public services and a more civilised society you say? Don't threaten me with a good time?

It seems like a good idea to me. Fairer than taxing earnings more heavily. A threshold of £500k sounds like scaremongering though.

We could also start taxing inheritances. It’s money that is unearned and undeserved, and increases inequality and reduces social mobility.

I doubt the extra money needed to improve public services is going to come from ‘growing the economy’, so if people are against wealth taxes, how would they raise the money?

£500,000 is a low bar on assets and I can’t see many people in a property worth that or more would have cash hanging around to pay it.
Assets also includes art, jewellery and so on. Who will be coming around to check our jewellery boxes exactly.

Looking forward to all those court cases when people can’t pay.

Labour have specifically said (much more recently than 2020!) that they would not look to introduce a wealth tax. Stop dredging up old articles that fit with your agenda.

Isn't the problem that house prices are crazy and therefore lots of ordinary people would be in your (made up) over £500k category?

We are paying less tax than in many other countries, despite what the right wing tabloids and the Conservatives would have you believe. And those who can, need to contribute more if we want decent public services.

@errjql what a fabulous idea!

That's OK im poor it won't effect me

The model that the report authors chose

So the numbers you've quoted haven't come from Labour, not even four years ago, let alone now?
The authors plucked some numbers out of air as an example, and you think that might represent Labour policy?

The Tories are really desperate...

What next: Starmer will come to steal your cat, eat your porridge and pee in your garden if you elect him?

Enough of this nonsense scaremongering.

Lol. Why do you think a 4 year article is more relevant or accurate than the actual manifesto? Seems a bit desperate.

The Conservative manifesto doesn't rule out reintroducing a window tax.

Here is the DM website now

😁

I m with you OP it is going to be very hard for the middle class. In London in paper everyone is wealthier compare to the rest of the country. So we will always be shafted and abuse with the taxes. We are already. Terrible quality of life as well. Overcrowded and expensive.
The disgusting people calling you a Tory bot. May they are just the people who take from the system and never contribute. There are far too many in this country and those are the same that want open borders and the free for all buffet.

Well not long now to see.

You are Tory bot = I am a Labour taker

Op, you can't have a rational discussion on politics on Mumsnet. You are either a labour supporter or a Tory bot (or worse!). I find it odd as the section of people most likely to get squeezed are the typical mumsnetters, middle class, middle to high earners with a slightly more expensive homes and these are the exact people who are almost blindly following labour.

They said 20 ago that they wouldn't pursue vat on private school fees, the people this will hit are not the super wealthy but the middle-class. If you think this will be the last raid on this section of the population, you are wrong. Apparently if you want to discuss this you are a Tory supporter who deserves nothing but vitriol. So actual discussion is denied.

Occasionally the feminism board manages a more balanced party discussion other than labour good, Tory bad but I've never seen one on another board.

@PregnantNowScrewed

you need to understand what they're NOT saying, not just what they are saying

This applies to all parties.

What is the consequence of cutting NI for self-employed people for example? Cuts to public services. That's not in the Conservative manifesto, but it is the unsaid bit, surely?

**
you need to understand what they're NOT saying, not just what they are saying“

Oh, please.