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Politics

“Tax the wealthy” (RR budget) what does this even mean?

639 replies

gggddjkki · 16/10/2025 08:32

I don’t remember anxiously waiting for budgets like we have the last few years earlier on in my adulthood. But when you read statements like this (as I have seen in the headlines today) what do you interpret it to mean? What does taxing the wealthy look like to you? Taxing higher earners more? From what point? Higher taxes on industry?

OP posts:
duckfordinner · 18/10/2025 08:53

mellongoose · 18/10/2025 06:07

£450b spent during an international emergency ensuring everyone’s wages were paid.

You are correct. Short memories indeed

Not everyone wages were paid. They excluded self employed people

ChardonnaysBeastlyCat · 18/10/2025 08:57

Greylakemirage · 18/10/2025 08:49

All the reveal stories in the press are seriously hitting the economy and installing fear to so many. Delaying the Budget until 26 November just makes it even worse. Why?

CGT on mid level main residences would be insane. It would stop people from moving BUT if there was also a property tax so many would not be able to afford to live in their homes. Then what? families clammering to move to cheaper flats or tiny homes. Thus pushing up the price of those properties. FTB priced out. Scores of mid level properties empty. Increase in homelessness. Even more people turning to welfare at a time when it needs to be seriously reduced. A mess.

Stamp duty needs to be cut to stimulate the market and council tax needs to be reviewed. It is crazy that expensive properties in London less than a terrace house in the North. Also why are new build council tax bands so much higher than the equivalent tax band of an old property?

A poll tax would be so much fairer and easier and cheaper to implement (thus increasing revenue). The original proposal received so much hate but now surely it seems the logical next step. Afterall, people not properties use Council services.

Alternately, whilst they are hesitant to cut benefits why not reduce the benefit freebies? I.e removing free council tax, boilers, home repairs etc easy and cheap to implement and they are not touching the cash element of benefits paid.

Edited

In short, they are doing the exact opposite of what they should be doing.

Cut tax, stimulate the market and get more revenue instead of hitting everybody in the pockets and crashing the housing and the labour markets.

It's utter madness.

EasternStandard · 18/10/2025 09:00

Enterthewolves · 18/10/2025 08:34

But then they came into power and found an undeclared gaping hole in the budget because the Tories lied, do you not remember that?

Labour’s spin worked for you then.

Leavesfalling · 18/10/2025 09:02

CautiousLurker01 · 17/10/2025 11:26

Just read in The Times that she expressly ruled out a property based wealth tax at the IMF in Washington, though, so I think everyone here is panicking needlessly. I think she’ll raise tax on the higher rate tax band, currently 45%, but may go up to 47% - maybe going higher still to a straight 50%. People who are tied to the UK will have to suck it up, but a percentage who are not will leave. Some corporations may have to mitigate it with payrises next year to soften the impact and keep employees, so Labour will lose their support too (if they still have it after the NI fiasco).

I do think this may be her last budget. I think she will be gone in due course, in part as a last ditch effort by Starmer to save his position. Not sure that will work, though. I doubt he’ll be standing at the PM at the next GE. I’d be surprised if Labour stay in for the full 5years as at some point Starmer will try to save his skin by timing a GE when he has an uptick in approval or when he knows (I think like Sunak knew) that things were/are only going to get worse before the GE so best bail sooner rather than later and let Reform/Tories deal with the mess.

Tbf she did promise at the last budget that that was the last time she'd go for people. She seems to have changed her mind and bearing in mind it was only a year ago I'm not sure we can rely on many of her "promises".

Leavesfalling · 18/10/2025 09:06

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

Silly post

EasternStandard · 18/10/2025 09:06

Leavesfalling · 18/10/2025 09:06

Silly post

Agree.

Leavesfalling · 18/10/2025 09:09

Enterthewolves · 18/10/2025 08:34

But then they came into power and found an undeclared gaping hole in the budget because the Tories lied, do you not remember that?

The "black hole" was just spin. And all information was available to RR before the election.

And if there were such a black hole she's made it significantly worse by counter productive policies and by turning on the spending taps as soon as they got in by giving very well paid public sector workers like train drivers a huge payrise.

Nolletimiere · 18/10/2025 09:10

PeonyPatch · 18/10/2025 08:25

Labour have barely been in power. I’m really disliking people who keep saying this. How long were the conservatives in power again?!

Dislike away.

Look at the data - let that guide you.

Keir Starmer favourability, October 2025
Opinion towards Keir Starmer is largely unchanged since last month’s favourability ratings, with just 21% of Britons holding a favourable opinion of the prime minister and 72% seeing him unfavourably.
This leaves Starmer with a net a favourability rating of -51, which is the lowest recorded by YouGov so far.
**
Labour polling
Reform UK’s runaway lead in opinion polls is being translated into real votes while support for Labour is overestimated, an analysis of local elections has shown.
In the 108 local council by-elections held since May, Reform has secured 30 per cent of the votes cast, with Labour and the Conservatives getting 17 per cent each.
It means that recent opinion polls putting Reform on 30 per cent or higher are a true reflection of the real-world support for Nigel Farage’s party, while polls that give Labour an average of around 21 per cent are overestimating support for the governing party.

A major seat-by-seat poll of Westminster voting intention previously estimated that without tactical voting, Reform would win a supermajority in Parliament with 445 seats if a general election were held now, with Labour on 73 seats and the Tories almost wiped out with seven seats.

Nolletimiere · 18/10/2025 09:12

Leavesfalling · 18/10/2025 09:09

The "black hole" was just spin. And all information was available to RR before the election.

And if there were such a black hole she's made it significantly worse by counter productive policies and by turning on the spending taps as soon as they got in by giving very well paid public sector workers like train drivers a huge payrise.

100%

It’s all bullshit - most of what spews from Starmer, Reeves and co is total effluent.

PeonyPatch · 18/10/2025 09:25

Nolletimiere · 18/10/2025 09:10

Dislike away.

Look at the data - let that guide you.

Keir Starmer favourability, October 2025
Opinion towards Keir Starmer is largely unchanged since last month’s favourability ratings, with just 21% of Britons holding a favourable opinion of the prime minister and 72% seeing him unfavourably.
This leaves Starmer with a net a favourability rating of -51, which is the lowest recorded by YouGov so far.
**
Labour polling
Reform UK’s runaway lead in opinion polls is being translated into real votes while support for Labour is overestimated, an analysis of local elections has shown.
In the 108 local council by-elections held since May, Reform has secured 30 per cent of the votes cast, with Labour and the Conservatives getting 17 per cent each.
It means that recent opinion polls putting Reform on 30 per cent or higher are a true reflection of the real-world support for Nigel Farage’s party, while polls that give Labour an average of around 21 per cent are overestimating support for the governing party.

A major seat-by-seat poll of Westminster voting intention previously estimated that without tactical voting, Reform would win a supermajority in Parliament with 445 seats if a general election were held now, with Labour on 73 seats and the Tories almost wiped out with seven seats.

Yes, but again — they have only been in power a short while. To turn this country around, it’s going to take much longer. That is what I’m saying. I don’t dislike you personally, I dislike how short-sighted people are being. Are you able to comment on this?

In response to your comment, I could also share many, many stats about atrocities that were caused by the Tories e.g. Brexshit, which in my opinion has truly obliterated our economy.

I’d also like to highlight that I am not a die hard Labour supporter. I am also critical and skeptical of some of what they’ve done. For example, I hate how reactive they have been with some of their decision-making and the U-turns they have made. However, I am also acutely aware that to improve this country, it’s going to take time.

I am also conscious that people are turning to Reform as an option out of backlash to Labour without truly understanding what Reform is like as a party and what that means for this country. It’s like the Brexit vote — many people who voted in favour of this did so out of potential xenophobia or not really knowing what the impact would mean. That’s not a reason to vote Reform. They are a new, unestablished party. They don’t have their ducks in a row. If I wasn’t to vote Labour (and I didn’t last time) next GE, I certainly wouldn’t be voting for such an amateur party. That would be even more of an absolute shit show in my opinion.

Enterthewolves · 18/10/2025 09:28

EasternStandard · 18/10/2025 09:00

Labour’s spin worked for you then.

I’m not voting for them so no, but the OBR confirmed it was true - not to the tune of £22b - but there was significant undeclared spending by the Tories - alongside some political grandstanding from Labour https://fullfact.org/economy/22-billion-black-hole/

Is Labour right to claim there’s a £22 billion ‘black hole’ in the public finances? – Full Fact

It’s been a key government claim since the election and featured heavily in the Budget - but what does it actually mean?

https://fullfact.org/economy/22-billion-black-hole/

Enterthewolves · 18/10/2025 09:29

EasternStandard · 18/10/2025 09:00

Labour’s spin worked for you then.

See previous answer

OSTMusTisNT · 18/10/2025 09:29

I suspect wealthy to RR is anyone earning a full-time minimum wage and above.

Maybe pensioners as well, with them traditionally more likely to vote Tory RR won't care about them.

I doubt wealthy means millionaires.

Enterthewolves · 18/10/2025 09:31

Leavesfalling · 18/10/2025 09:06

Silly post

Not really - if you vote for a fundamentally racist party you are surely in favour of their policies - you are either a racist or a racist sympathiser.

PeonyPatch · 18/10/2025 09:33

I think wealth means assets not related to income!

Nolletimiere · 18/10/2025 09:33

OSTMusTisNT · 18/10/2025 09:29

I suspect wealthy to RR is anyone earning a full-time minimum wage and above.

Maybe pensioners as well, with them traditionally more likely to vote Tory RR won't care about them.

I doubt wealthy means millionaires.

Her definitions are elastic, as is her relationship with the truth and reality.

’Working people’
’These tax increases are a one-off’
’I was upset because of a personal issue’
’I was a senior economist at the BOE’
’Every single penny” of the £1.5billion generated by slapping VAT on private school fees would go towards state education’

Reeves is pathological.

EasternStandard · 18/10/2025 09:33

Enterthewolves · 18/10/2025 09:29

See previous answer

A yes then. There’s not many left supporting those lies, it’s a decreasing group every week.

PeonyPatch · 18/10/2025 09:34

Nolletimiere · 18/10/2025 09:33

Her definitions are elastic, as is her relationship with the truth and reality.

’Working people’
’These tax increases are a one-off’
’I was upset because of a personal issue’
’I was a senior economist at the BOE’
’Every single penny” of the £1.5billion generated by slapping VAT on private school fees would go towards state education’

Reeves is pathological.

Why does

I was upset because of a personal issue’

make her pathological?

Enterthewolves · 18/10/2025 09:35

EasternStandard · 18/10/2025 09:33

A yes then. There’s not many left supporting those lies, it’s a decreasing group every week.

Supporting the IFS view that there was undeclared spending?

Nolletimiere · 18/10/2025 09:35

PeonyPatch · 18/10/2025 09:34

Why does

I was upset because of a personal issue’

make her pathological?

Because she inferred it was a domestic issue - it wasn’t - it was political.

Enterthewolves · 18/10/2025 09:35

PeonyPatch · 18/10/2025 09:34

Why does

I was upset because of a personal issue’

make her pathological?

Because anyone who doesn’t agree with the viewpoint that rich people are being hard done by is pathological?

Nolletimiere · 18/10/2025 09:36

Enterthewolves · 18/10/2025 09:31

Not really - if you vote for a fundamentally racist party you are surely in favour of their policies - you are either a racist or a racist sympathiser.

Congrats.

You just labelled millions of people.

Nolletimiere · 18/10/2025 09:37

Enterthewolves · 18/10/2025 09:35

Because anyone who doesn’t agree with the viewpoint that rich people are being hard done by is pathological?

Re-read my post.

PeonyPatch · 18/10/2025 09:37

Nolletimiere · 18/10/2025 09:36

Congrats.

You just labelled millions of people.

Yeah, I don’t agree that anyone in support of Reform is a racist — that’s a MASSIVE generalisation.

Some? Sure. The majority? Maybe. All of them? No.

Nolletimiere · 18/10/2025 09:38

PeonyPatch · 18/10/2025 09:37

Yeah, I don’t agree that anyone in support of Reform is a racist — that’s a MASSIVE generalisation.

Some? Sure. The majority? Maybe. All of them? No.

@Enterthewolves doesnt agree with you.

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