Scottyboi
Well-Known Member
Constantly fiddling with your fiddle.
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Budgetamania 2018
- Thread starter Damocles
- Start date
Constantly fiddling with your fiddle.
Scottyboi
Well-Known Member
Looks like a decent budget for me personally.
TheRemainsOfTheDave
Well-Known Member
- Joined
- 16 Mar 2017
- Messages
- 6,491
Some people earn a lot more paying in the tax equivalent of much more than two people and securing their own future in the meantime therefore not needing two people to support them. Some people will never earn enough to contribute to the pot. Again, I'd need to see how that's calculated but reckon it'll be over simplistic again.sure - and some will be retired etc etc - the point being that with so many being on such a low income how does the economy sustain itself? Its said you need 2 people in work and paying tax to also support each pensioner - if those workers are on low pay and paying little tax and perhaps even be already taking back out of the pot in the guise of in-work benefits. Its part of a gloomy outlook warning from the IFS.
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blueinsa
Guest
Looks like a decent budget for me personally.
It was.
sure - and some will be retired etc etc - the point being that with so many being on such a low income how does the economy sustain itself? Its said you need 2 people in work and paying tax to also support each pensioner - if those workers are on low pay and paying little tax and perhaps even be already taking back out of the pot in the guise of in-work benefits. Its part of a gloomy outlook warning from the IFS.
It isn't sustaining itself and that is why we have a GDP debt deficit of nearly 86% and it is still rising and still will be regardless of this budget. Just servicing the national debt interest costs more than the entire education budget!
The only way we can move to a sustainable economy is to either limit spending as we already have or we have to grow the economy but whether the economy grows is linked to a thousand different factors and not just spending.
Probably from those who will soon not be paying income tax. To put that into context according to the IFS the increase in the personal threshold will mean 40% of adults no longer paying income tax. 40% ! Think about it - 40% earning £12,500 pa or less - of those that are working most will be on some form of in-work benefits - how is that making work pay and how long is that position sustainable and how long will it sustain the economies position of 5th or 6th in the world? Growth was revised down yesterday by Phil.............
We've all heard this disingenuous quote before about taking people out of tax altogether. What they don't like to highlight the fact that this is a universal benefit because everyone who earn above £12.5k gets it too. None of this sustainable and we are being fast tracked to the capitalism on steroids the US is on. When you add in the raise on the 40% rate to £50k this quite clearly was the sign we are in for another GE because May knows that her brexit plan is shot. It contradicts everything spreadsheet Phil and his party has said in the past.
without a dream
Well-Known Member
Lots of good stuff, I'm hugely in favour of raising the tax threshold and minimum wage, a 'google tax' also seems like a positive. I don't like raising the higher tax threshold though, I think it's pretty clear that schools and the NHS are suffering and I'd rather more money was going towards them than on tax cuts for higher rate payers.
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blueinsa
Guest
As a reasonably pushed higher rate earner, I'd rather not have a tax cut if it meant better funding for health and education.
Generally a good budget though.
I’m on the lower rate mate and the truth is I didn’t need the tax cut and would have happily seen him say the money is going to the NHS as well.
I’m on the lower rate mate and the truth is I didn’t need the tax cut and would have happily seen him say the money is going to the NHS as well.
I quite liked the Lib Dems idea of a penny on everyone's income tax going to the NHS. Would gladly do the same for our schools.
Of course, I'd also like it if the Liberal Democrats respected our democratic decision to leave the EU.