The Labour Government

[Don Karleone]

Any of these tough choices landing on the wealthy?

 

[hilts]

Blindingly obvious to everyone except selfish pricks who were happy to see our public services and sectors neglected of investment if it meant they could shovel away more of their "hard-earned".

Or people struggling to get by after the taxes they already pay. But thar is obvious to anyone but dumb pricks I guess.

 

[hilts]

No. They will get worse before they get even worse still. This is what happens when you elect a closet marxist.

Holy shit! Really? Fuckin hell pmsl

 

[hilts]

Means he’s probably getting it about right.

Or we have a few brainwashed posters from both sides of the political spectrum.

 

[hilts]

How often do you check the wardrobe and under your bed each evening?

He has a MUKGA baseball cap

 

[hilts]

Any of these tough choices landing on the wealthy?

They will pay dont worry about that they sneered at my dad said Sir Keir after attending the polo game and on his way to the gentleman's club.

 

[Phil1]

Or people struggling to get by after the taxes they already pay. But thar is obvious to anyone but dumb pricks I guess.

Dumb pricks to the left of me selfish to the right, here I am stuck in the middle with you.

 

[paulchapo]

Any of these tough choices landing on the wealthy?

Not yet and are unlikely to do so. Even if they take what is perceived to be a hit they'll more than likely offset it easily enough.

 

[Vic]

Can't you just get a dictionary? It's relevant to you moaning about well-off pensioners being cut off from winter fuel payments when the tories made more children go hungry.

And probably moaning about your own WFP.

This is second hand but the only moaning I've heard from pensioners is from someone complaining about losing the WFP "because we gave it to charity".

 

[SkyBlueFlux]

Not yet and are unlikely to do so. Even if they take what is perceived to be a hit they'll more than likely offset it easily enough.

Not exactly true:

Reform to non-dom rules: Labour party announcements

Following the outcome of the UK general election, we have published an updated briefing on what tax changes we expect the new Government to implement, the likely timeframe for these changes and, most importantly, what our clients should be doing now. Read more This article was first published on...

www.farrer.co.uk

Labour are getting rid of existing exemptions that the Conservatives laid out for non-doms in their proposed tax reforms. Under these proposals if somebody lives here for 4 years, having previously been non-resident, then they are getting taxed on their whole income regardless of whether the income originates in the UK or overseas. That is a big change from the very forgiving nature of the previous system and the new one the Conservatives were proposing.

I work with people in Luxembourg and they have told me they have seen a definite up-tick in British registered assets being moved there in the past few months - luxury cars that have British licence plates are becoming a more common sight in the streets (this is just anecdotal I have no further evidence it is true). Whether the amount of people moving their affairs overseas outweighs the benefit these tax reforms bring in remains to be seen - LSE suggest it should raise roughly £4Bn a year. They are saying they will throw in some exemption if people bring their untaxed foreign income to the UK to invest it into infrastructure and British business but it's not exactly clear how that policy looks in practice.

I'd say they also seem quite openly critical of the current situation with capital gains tax and I'm fairly sure we'll see some kind of reform on that in the budget to the effect of it being taxed more in line with regular income. That will definitely disproportionately impact people with wealth.

You can argue whether these initiatives go far enough, but I think Labour are allergic to doing anything that is seen to be too radical. Especially while the economy is doing surprisingly well and growth forecasts are improving. I think we will only know if this "softly, softly, catchee monkey" approach to resuscitating our ailing national fortunes is actually working in 3-5 years time. There's almost no point in thinking too hard about it right now.

The people saying this is anything close to Marxism are just preposterous simpletons who have never opened a book.