The Labour Government

M18CTID said:
I think the point he was making is that if you live in a million pound house there are more ways of accessing cash that wouldn't be available to someone who was living in a much less expensive house or, worse still, didn't own the house they were living in.

I'll also add that half a million quid is a hell of a decent wedge before IHT kicks in. Put it this way - I wouldn't be complaining about IHT if I inherited over half a million and anyone that does needs to have a reality check. In any case - and I'll make it clear that in no way am I saying that parents shouldn't be leaving money and assets to their children - fully grown adults who are capable of looking after themselves shouldn't be relying on inheritance from their parents. And I say that as someone who has just inherited part of my dad's estate.
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In an ideal world, I'd agree with you but the reality is with the tax burden as high as it is, childcare as expensive as it is, housing as expensive as it is, car tax, insurance, FOOD! etc etc, many families are struggling to put anything like enough aside for their retirement, and others may need funds from mum and dad to even get on the housing ladder.

And regards your first paragraph, well perhaps if equity release is an option - although in many cases it makes no sense. But we have to accept - as I am sure you do - that some people are better off than others and it will always be the case. That doesn't mean the better off people don't have struggles of their own. I am sure even the poorest posters on here live in relative luxury compared to someone trying to get in from e.g. Syria, yet anyone trying to tell an impoverished Labour voter on benefits to "stop moaning" would likely be criticized.

I can well imagine a retired lady with no money, little income and facing large bills, is pretty stressed about it.
 
Vic said:
Isn't the drop in house sales a lull after the stamp duty rush?
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I thought that might be the case, but if you average out the last three months the sales are still on a continued downward slope. Interest rates need to come down quicker IMHO.
 
Chippy_boy said:
Honestly I find your attitude here absolutely disgusting. That you should be mocking the fact that someone gets to pass just SOME of their worldly wealth to their children?

You say you are not a "lefty". Honestly you behave like you're a fully paid up Marxist at times.
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when it comes to IHT, I'm with this working-class hero...

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M18CTID said:
I honestly think Farage would be far worse than Starmer. He's a grifter first and foremost and will latch on to any populist idea - immigration in particular - for his own ends. He slagged off the EU for decades but was more than happy to pick up his MEP salary. I could see him isolating us from the rest of the world with his divisive politics. Even the policies that should appeal to people of all political persuasions are ideas that belong in a fantasy world. How the hell are they going to fund the increase in the tax-free personal allowance to £20,000 that they're proposing? The simple fact is they can't so they won't do it if they get in. I know you're quite right-wing when it comes to the economy and stuff but there's not a chance Farage comes close to delivering what you're advocating on that score IMO. You yearn for the days of a Thatcher-type figure and as divisive as she could be at times, she shits all over Farage. In fact, I reckon if she's looking down now she'd be horrified at the prospect of Farage becoming PM.

Starmer's far from perfect but I see him as being the best of a not very impressive bunch. I don't think Ed Davey's too bad either but he goes under the radar a lot for some reason, even though he's the leader of a party that has 68 more seats than Reform.
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There is no chance of Reform forming the next government unless they merge with the Conservatives, and that will in itself probably split the Tory party and its vote. The poll surge for Reform is a protest vote imo, it's just pushing Labour to the right. That said it wouldnt surprise me if the next Parliament could well be hung, but I just can't see Farage and co getting anywhere near a majority.
 
Inheritance tax = grave robbing cheeky thieving cunts.

What USA experts say:
Estate and inheritance taxes are poor economic policy. They fall almost exclusively on the domestic capital stock—the accumulated wealth that makes America richer and more productive as a whole. Taxes levied on the capital stock restrict job growth and harm the economy. This study finds that repealing the U.S. estate tax would lead to the creation of nearly 150,000 jobs and would eventually increase federal tax receipts by $8 billion per year.
 
Chippy_boy said:
In an ideal world, I'd agree with you but the reality is with the tax burden as high as it is, childcare as expensive as it is, housing as expensive as it is, car tax, insurance, FOOD! etc etc, many families are struggling to put anything like enough aside for their retirement, and others may need funds from mum and dad to even get on the housing ladder.

And regards your first paragraph, well perhaps if equity release is an option - although in many cases it makes no sense. But we have to accept - as I am sure you do - that some people are better off than others and it will always be the case. That doesn't mean the better off people don't have struggles of their own. I am sure even the poorest posters on here live in relative luxury compared to someone trying to get in from e.g. Syria, yet anyone trying to tell an impoverished Labour voter on benefits to "stop moaning" would likely be criticized.

I can well imagine a retired lady with no money, little income and facing large bills, is pretty stressed about it.
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In an ideal world we wouldn't pay any tax full stop! I just think IHT thresholds are an odd thing to get worked up about compared to all the other taxes out there, especially as it only affects 4% of the population. There's nothing wrong with parents helping their kids out financially with regards house deposits, etc. My point was that 2 parents leaving their house to their kids means that their children would have to inherit more than £1m before IHT kicks in. £1m is more than enough to get on the housing ladder, even if it was split 8 ways. Well, maybe not in certain parts of London and the South East but you get my point.

Someone I know has done really well for himself and he said he's fucked if he's leaving everything he's earned to his kids. His intention is to enjoy what's left of his life and spend as much of his wealth between now and when he pops his clogs because he's earned the right to, and he'll leave his house to the kids which should be more than enough to give them a significant leg up in life.
 
blueinsa said:
You will need counselling I fear when it happens.
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not at all, I half hope Reform come in, would like to see the ‘well, it can’t get any worse’ brigade try and defend the policies (if they have any) and how they deal with trying to govern this divided nation.
They’d probably go quiet and scurry just like those that advocated Brexit.
 
BlueHammer85 said:
not at all, I half hope Reform come in, would like to see the ‘well, it can’t get any worse’ brigade try and defend the policies (if they have any) and how they deal with trying to govern this divided nation.
They’d probably go quiet and scurry just like those that advocated Brexit.
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“Not bothered” is always a great go to when it starts to sink in things are looking bleak.
 
BlueHammer85 said:
not at all, I half hope Reform come in, would like to see the ‘well, it can’t get any worse’ brigade try and defend the policies (if they have any) and how they deal with trying to govern this divided nation.
They’d probably go quiet and scurry just like those that advocated Brexit.
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Don't be a daft cockney.................REFORM are cunts
 
blueinsa said:
“Not bothered” is always a great go to when it starts to sink in things are looking bleak.
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I'd guess he's more arsed about Kudus going to Tottenham to be honest. Just because he supports this goverment, doesn't mean he's losing sleep at night about the possibility of them imploding. That's just wishful thinking on your part.

By the way, have you had a word with your energy supplier yet about them putting your bill up by over 30%, despite having £1200 of your money?
 
Postman Pep said:
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Which is funny because the country is the most stable it's been in 10-15years, so it says more about the electorate unfortunately.

The issue with incumbent governments is they can't get everything right, they don't think exactly the same way as all their voters, let alone the ones who didn't vote for them, so they're going to piss off nearly everybody at some point in the 5 years.

I didn't agree with the PIP stuff, my local labour MP voted against assisted dying, pissed me off but I think relationships being forged with Europe, a stronger economy than anything the tories served up, less corruption, less politics on a daily basis due to competent people working in the right areas and greater funding to local areas and so on far outweigh the negatives.

I think the overall picture from this current government is far better than anything we've had for 10-15 years and a quick look overseas shows the mess that would happen if Reform got in.
 
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