That's old school. Thatcher loved that mumsy shtick, partly because it justified her rapacious spending policies, and partly because it gave her the appearance of a human being.BBC expert this AM " the government has to balance the books like a household budget" Jesus wept....!
Wheeling out the Cameron /Osborne trope again.
Better to give it direct to charityIf you want to pay the equivalent in extra income tax then you can. Not as easy as virtue signalling on a message board but still pretty simple How to make voluntary tax contribution
I think the tax thresholds are fixed until 2029.If they freeze the income tax threshold again, it makes the NI cut irreverent anyway. The Income tax threshold should go up each year at least in line with inflation
The new state pension is £10600 so still a bit to go to reach the tax threshold.I think the tax thresholds are fixed until 2029.
I was thinking of a scenario where people drawing a state pension without any other form of income might actually get pulled into paying income tax!
I was thinking say 5% increase per annum for 5 years compounded and it would be close. Mad to have to consider it though.The new state pension is £10600 so still a bit to go to reach the tax threshold.
4 years at 5% would see it exceed it.I was thinking say 5% increase per annum for 5 years compounded and it would be close. Mad to have to consider it though.
There's other options. Go back to the progressive taxation policies of the late 60's and early 70's perhaps. Lifting the threshold at which you start paying tax.I did see something last week that Labour think the tories may get rid of non dom status to fund the ni tax cut. This, essentially just removes that as an income stream for labour, unless Labour want to remove the ni cut.
The answer is a simple one really. Close all tax loopholes and use that for civic funding. The problem is that isn't a quick fix.
And those who soak this crap up also tell us that there is no bias at the BBC.BBC expert this AM " the government has to balance the books like a household budget" Jesus wept....!
Wheeling out the Cameron /Osborne trope again.
You are right that a more progressive tax system would work. I don't see Starmer adopting that anytime soon though, despite the fact that I agree with it in principle.There's other options. Go back to the progressive taxation policies of the late 60's and early 70's perhaps. Lifting the threshold at which you start paying tax.
That will give a boost to those NEEDING to spend, supported by those wealthy enough to afford to help out. They are, after all, the biggest beneficiaries in society.
Central government can perhaps then look at paying to help those in need and not leave it to the local authorities who can then put money back into areas they once could afford. And give local authorities the autonomy to set their own level of taxation, as the more advanced nations do.
The UK tax code is over 10 million words long.You are right that a more progressive tax system would work. I don't see Starmer adopting that anytime soon though, despite the fact that I agree with it in principle.
He, Starmer, has been vocal in closing tax loopholes, but leaving the basic structure in place. I don't know enough about tax law to know whether it is fairly straightforward to change the basic structure. I suspect it's quite complex and there is a lot of other things that will take precedence, I imagine.
It's probably 10 million lines of computer code too.The UK tax code is over 10 million words long.
Sadly, if the BBC or any other outlet started to talk about budget deficits, the yield on gilts, the velocity of money etc 95% of people would not have a clue.And those who soak this crap up also tell us that there is no bias at the BBC.
KNOW YOUR PLACE.
You pay corporation tax on the dividend then pay 8.75% income tax on the remainderAnyone know why dividend income should be taxed less than earned income? This IFS table is interesting:
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