Politics Today

[RedPaul]

It has been remarked on already.

Apols I haven't seen any real news today, just some snippets on the wireless on the way home. All the sweets dished out like frozen booze duty is pittance compared to the long term tax grab. VAT will be next - Apr 2023 my bet.

Any explanation on why on earth furlough needs to continue to Sept? Better off hiking UB temporarily to soften the blow.

 

[Grecian2K]

It's a FOUR year freeze on allowances which will, over that time, suck many more of the lowest paid into the tax bracket and disproportionately impact those on lower wages while barely touching the rich and super rich.

And dressed up as a "freeze" as if, along with fuel and alcohol duties, it's actually a beneficial and munificent thing.

A typically sly and mean-minded Tory trick.

 

[elginCity]

Labour wanted a Corporation Tax rise to 26% back along and Johnson reminded everyone that every time CT has been cut in this country it has produced more revenue.

Now the Tories want more revenue and it raises CT to 25%.

 

[Rosencrantz]

Apols I haven't seen any real news today, just some snippets on the wireless on the way home. All the sweets dished out like frozen booze duty is pittance compared to the long term tax grab. VAT will be next - Apr 2023 my bet.

Any explanation on why on earth furlough needs to continue to Sept? Better off hiking UB temporarily to soften the blow.

Unemployment benefits need an overhaul. Even on the temporarily uplifted UC, the drop from even a furloughed wage is steep and quick. You just cannot get your outgoings down to minimal to match the speed of the drop. If you are mortgaged up, good luck, you have a minimum nine month wait for any kind of assistance and with mortgages as high as they are these days it probably won't be enough. Added debt and/or possibly selling your home to find some kind of subsidised rented accommodation are the options. But if selling your home gives you too much in the bank, there goes your UC. If you can't get back into the workforce quickly, you are really struggling. It's certainly not fun.

 

[tavyred]

Sunak’s effort today being described by Frank Field as the best budget he’s seen in his 42 years in politics.
Glad to see Osborne’s obsession with taking people out of income tax altogether is perhaps being revisited albeit stealthily, it’s an important principle of a fair taxation policy that everyone pays something toward the pot IMO.
I’m surprised that the progressives if not the traditional Tories on here are not acknowledging that over the next couple of years the U.K. will hit 1960’s Labour levels of taxation as a % of GDP. I thought you boys were in favour of higher taxation rather than austerity?
Roy Jenkins will be looking down at Rishi tonight and thinking the boy is doing ok.

 

[Grecian2K]

it’s an important principle of a fair taxation policy that everyone pays something toward the pot IMO.

Sorry, I must have dozed off while he was announcing the measures to ensure that the fat-cats pay their FAIR wack. By clamping down on the loopholes that allow them to salt away their riches in haven, safe from the prying eyes of the "evil" tax man. Or those multinationals who bounce their profits from country to country to reduce their tax bills to a risible level.
Not so much "levelling up", but "shovelling up" all of that dosh to their rich cronies.

As for those "1960s levels of taxation" - at least the real pain was not exclusively targeted at the least well off in society.

Finally, regarding Frank Field - bitter ex party hack who threw his toys out of the pram when he couldn't get his own way. (Same goes for your sainted Sir Woy)

 

[angelic upstart]

Unemployment benefits need an overhaul. Even on the temporarily uplifted UC, the drop from even a furloughed wage is steep and quick. You just cannot get your outgoings down to minimal to match the speed of the drop. If you are mortgaged up, good luck, you have a minimum nine month wait for any kind of assistance and with mortgages as high as they are these days it probably won't be enough. Added debt and/or possibly selling your home to find some kind of subsidised rented accommodation are the options. But if selling your home gives you too much in the bank, there goes your UC. If you can't get back into the workforce quickly, you are really struggling. It's certainly not fun.

There does need to be a grown up conversation about this.

 

[Alistair20000]

Sorry, I must have dozed off while he was announcing the measures to ensure that the fat-cats pay their FAIR wack. By clamping down on the loopholes that allow them to salt away their riches in haven, safe from the prying eyes of the "evil" tax man. Or those multinationals who bounce their profits from country to country to reduce their tax bills to a risible level.
Not so much "levelling up", but "shovelling up" all of that dosh to their rich cronies.

As for those "1960s levels of taxation" - at least the real pain was not exclusively targeted at the least well off in society.

Finally, regarding Frank Field - bitter ex party hack who threw his toys out of the pram when he couldn't get his own way. (Same goes for your sainted Sir Woy)

G2K. FYI

This government and the Coalition have done more to clamp down on tax avoidance than any previous governments of whatever political colour.

Just saying like.

 

[angelic upstart]

It’s worth noting the lower end of the tax allowance has risen £70 in the last two years anyway, so another four years, won’t be a massive difference in inflation, or more importantly wages stay low.

Anyone know if any changes to the “levelling up” of NI were made? Simply because if that is still going ahead there’ll be barely a difference overall.

 

[Grecian2K]

G2K. FYI

This government and the Coalition have done more to clamp down on tax avoidance than any previous governments of whatever political colour.

Just saying like.

In what ways? I'm eager for enlightenment!