What other ways could Rachel Reeves have raised more money?

[Katypp]

As a former small business owner (thankfully former!), the additional costs would have crippled our company.
But according to some posters on MN, we should just have sucked them up from our profits and if we could not afford to do so, should not have been running a business in the first place. If only life were as simple as some (who clearly have never run a business) seem to think it is.

Anyway, I wondered if any other posters would like to contribute to a thread of suggestions of alternative ways money could have been raised. Specifics if possible, not general Tax The Rich type posts.

I'll go first ...

1. Restore employees' NI to the level it was before Jeremy Hunt tinkered with it last Budget. We've only had the uplift a few months so the pain would be minimal
2. Get rid of the pension triple lock and put pensioners on a level footing with other benefits increases.

Look at the out of control welfare bill and address the 1000’s of people coming in illegally. What has happened to investigating the nail bars and barbers demanding cash only?

Income tax

And if they want businesses to pay, they should tax profits rather than jobs. It's much fairer.

Made the windfall tax on oil and gas companies much much higher

I gather he once advised the Labour party.

Polling indicates this may be the way that the public is going.

x.com/GoodwinMJ/status/1852351875263160748

@MichaelandKirk , absolutely!

I don't know. The obvious answer is to tax big, successful companies more (my own employer included, we're rolling in profits and could easily absorb an increase greater than the one NI will bring) but it's difficult to separate the successful ones from the struggling. We also could've raised income tax but honestly that feels like a kick in the teeth to working people/families right now.

I feel the budget is good for what it is and would never be 'perfect'.

Reforming the welfare state. Ensuring that those who could be contributing to the state, are doing so. When I worked in retail as a student I had colleagues who would not accept overtime because it would take them over (I think?) 16 hours and then their benefits would be impacted. Make it make sense!! It is not a popular opinion (but sometimes the truth hurts) but head to any home bargains or high street on a weekday to see the masses of economically inactive who are taking far more than they are contributing. Honestly, if you don’t believe me, just pay a visit and you will see.

It's the same advice I'd give any MNer who was here telling us they were spending far more than they were earning.

Stop spending so much money. 🤷‍♀️

Only once the spending is under control should she be looking at raising more money to cover the legitimate costs that have been scrutinised.

A wealth tax set at a sensible threshold.

Cut civil servant jobs - so many unproductive workers!

Reform black hole that is NHS - lots of the funding went there and will just be swallowed up with inefficient and bureaucratic processes. It should be run like a private business with public money with doctors more in charge of actual management instead of random low quality managers.

Windfall tax on profits of oil companies.

I take all this with a pinch of salt. I remember when Tony Blair introduced the minimum wage and business owners were all saying exactly what you’re saying now. Somehow, the apocalypse didn’t arrive.

A penny on the rate of corporation tax?

Plus a penny on the basic rate of income tax seems the obvious one. The load would be borne by everyone with an income of over £12,500, with the wealthiest paying the most. Each would have been taxed on their ability to pay, including wealthy pensions

It would have avoided all this unseemly vindictiveness and picking disproportionately on different sections of society. Our govt is supposed to represent the whole of society. And to be seen to be fair.

We absolutely could not have afforded the extra. I am not scaremongering. I think a lot of people don't realise how finely balanced some small businesses are.

I could get behind that.

Unfreeze fuel duty. So much money not received in the years it has been frozen and meanwhile the cost of public transport has gone up and up.

Cut the £11billion overseas aid

Abolish fuel duty freeze! A penny on a litre would raise enough to allow free bus travel for everyone in the UK (whxih wd be way better than hammering the poorest with a FIFTY PERCENT increase in travel costs).

escalate by a minimum of a penny per budget and put all that money into investments in cleaner better cheaper public transport.

What about the 1p cut off a pint? I can't see customers flocking on the basis of 1p, yet it will cost millions

It was one of the first of a thousand cuts that have been the death of the small businesses on the high street. Go to pretty much any other country in the world and compare the difference between their shopping streets and ours.

Tax the internet.
Tax takeaways.

Increase income tax. I worry placing the onus on employers to pay more will stifle desperately needed economic growth.
I can afford to pay more as an older person and as much as this may be unpopular, my parents (in their 80s) can afford to pay more, my ILs (in their 70s) can afford to pay more. I appreciate not all pensioners can, but there are alot that can. I think we have to concentrate on growth and helping young families. Make work pay, all this nonsense about not working more than 16 hours, is again, stifling growth. We have to be more productive and make working more hours pay. Increase the personal allowance.
NHS - mandatory prescription reviews every 6 months. Focus on outcomes, don't scan, test, operate just because we can. Allow people a dignified exit rather than intervening just because we can.
Welfare - not sustainable in its current form. Don't allow people to remain on welfare with MH/Anxiety if they refuse to engage in their recovery. Think of a staggered reduction in benefits after a certain period of time.

Not spend £21 billion on unproven carbon capture.
Make WFA taxable rather than limit it to those in receipt of pension credits thereby triggering a rush of people to sign up for pension credits and costing more than it saves.
Penalties or deposits for missed doctors appointments
Sugar tax.
Reverse the NI cut
Bit late now but increase the state pension age by 3 months each year rather than a two year period being a cliff edge change. Also generates savings quicker.
Increase tax on alcohol sold in supermarkets and reduce tax on alcohol sold in pubs to bring them more into line. Thereby reducing the £28 billion cost of treating alcohol related illnesses and keeps pubs open.
Local authorities and landowners profit share on the uplift in value from planning permissions for large developments.
Tax on online retailers to bring them into line with high street shops business rates.

Scrap the £10 Christmas bonus.
Make working pensioners pay NIC.

Yes to both of these, although I suspect scrapping the £10 would cause an outcry completely out of proportion to its value ( as always happens).
Unpalatable though it sounds, I can't help feeling one of the key ways to raise money has to be closer scrutiny of pensioner benefits and freebies, especially given to younger pensioners.