Are you a flat tax rate man like me? Crikey?
It's so bleeding obvious. I even showed the sums to show it is fair.
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[Finance] Rachel Reeves to reveal £20bn shortfall left by Conservative Government
- Thread starter Bob!
- Start date
It's so bleeding obvious. I even showed the sums to show it is fair.
rogersix
Well-known member
- Jan 18, 2014
- 8,158
would your kids feel the same pride as you do if they also managed?
BenGarfield
Active member
The counttry can "afford" whatever it likes. The only limits are real resources and inflation.
Are you a flat tax rate man like me? Crikey?
It's so bleeding obvious. I even showed the sums to show it is fair.
At a stroke it would remove all need for tax planning manoeuvres around tax thresholds, plus there’d be no disincentives to earning over milestone thresholds. Tax take might even increase.
You have hit two nails on the head.
1. If Labour had nudge winked about rejoining the EU (or even simply suggested making some sort of arrangements) and
2. If Labour had said they would have to raise some taxes....
Richie Sunk would have been returned to number ten. Unless...
1. Sunak had at the same time admitted he would have to raise taxes and
2. admitted that Rwanda and the other wheezes were a deflection from the real problems caused by Brexit
The last General election was the ultimate water carrier election, with Labour needing to spill not a drop from their vessel while defending themselves from the Tories who were shoving them with their empty vessel.
I though you once said we can ignore inflation by printing more money?
LamieRobertson
Not awoke
I’ve tried that on my home printer but A4 sized notes won’t fit in my wallet
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I just wanted the Tories out so we could at least have a change and hope grown ups would run the country. The thought of the tories winning again was a really scary, it would be like they could do what ever they want and they never lose.
It was however completely obvious to me that despite what Labour were saying/ not saying that if we want to get our services back to pre-Tory level then taxes would need to rise. I also understood that if they said they were going to raise taxes it would have been jumped on by the right wing press and could have cost them the election. I think the majority of people who can afford to pay a bit more tax would be happy to do so IF it was used to actually make a difference and we could see the improvement to our services.
- Mar 23, 2023
- 1,879
she should windfall tax any company who has higher profits due to high energy costs or high interest rates, it makes no sense making the people poorer through high interest rates to just give banks higher profits.
Bob, genuine question, why didn’t you put this story in the Labour Government thread (yes I know you thought it deserved a thread of its own)Reeves is expected to make it explicit that she believes her predecessor deliberately did not act to address the looming spending shortfall. “Jeremy Hunt is going to have a lot of explaining to do,” said one source.
Rachel Reeves expected to reveal £20bn shortfall in public finances
Chancellor may raise some taxes in the autumn due to what Labour describes as its ‘shocking inheritance’ from Torieswww.theguardian.com
Furthermore, those parents had ample opportunity to mitigate the eventual level of IHT whilst they were alive. If they chose not too then the whole of society benefits but the inheritors do pretty well too.
So as you suggest, what’s the problem?
Ain't that the truth?
It's compounded by the fact that about 85/90% of 65+ vote but not too many under 30s. This means government policies (of both Labour and Tories) have been geared towards the older generation. So people are voting in self interest for policies that favour the unproductive sector of the population.
I can't see that changing for a while
Uh_huh_him
Well-known member
- Sep 28, 2011
- 11,525
Labour are wisely using the same playbook the tories used from 2010-2018
- "It's the last lot's fault".
The electorate gobbled it up last time.
- "It's the last lot's fault".
The electorate gobbled it up last time.
Before this becomes a "fact", houses are worth 2x what they were in 1996 according to the ONS.
Nationwide UK House Prices Index Adjusted for Inflation ['Real' Prices]
Nationwide Quarterly House Prices UK index data from 1973-2021 adjusted for inflation, also known as 'real' UK house prices
www.housepricecrash.co.uk
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S.T.U cgull
Well-known member
IHT, or another similar tax, is paid on most trusts - just at a lower rate of tax. Inheritance tax is paid by something like 3% of persons estates.
It is rather easy for most people to avoid the worst of the tax by gifting their wealth >7 years before death or using insurance policies to pay out the estimated tax bill when they pass.
Larger issue with that tax in particular is the amount of reliefs and exemptions for ‘agricultural’ property/land.
I would take those prices with a massive pinch of salt. I bought a flat in Balham for £72k in 1993 - £210,000 in today's prices according to the ONS. Just had a look on Right Move and seen similar flats a couple of streets away for £1.1m. That flat was partly funded by my share of the sale of my dad's house £54k in 1992. Try going to an estate agent in Brighton and say you want a four-bed house for £165k and time how long they'll spend laughing at you.Before this becomes a "fact", house prices are worth 2x what they were in 1996 according to the ONS.
Nationwide UK House Prices Index Adjusted for Inflation ['Real' Prices]
Nationwide Quarterly House Prices UK index data from 1973-2021 adjusted for inflation, also known as 'real' UK house prices
Westander's 6x is probably a bit of an exaggeration but it's certainly closer than your 2x
It's 4%, but the point is well made. The current allowance for IHT is £1m (assuming a couple, where one died first and left the estate to the surviving partner).
IHT makes sense as a form of capital gains tax.
Not mine!! The Office of National Statistics.
Indeed.
Anyone claiming the main reason they voted tory was because they thought Labour were not being sufficiently forthcoming about what they would have to do to fix the mess caused by the Tories has a brass neck.
And anyone who voted Tory who is now popping up like a turd that won't flush, doing a little dance and saying 'told you so, I knew how badly the Tories had f***ed the economy, and Labour were not being honest about it, and that's why I, er, vote Tory again' needs to get in the sea.
