The Labour Government

[bluenova]

Inheritance tax, this has effectively increased year on year with house inflation anyway. It also mostly affects those that have savings and assets built up after already paying tax. So people end up being taxed twice on the same earnings. Its an awful tax that needs abolishing or at least having its threshold raised significantly.

Why would it need raising? It affects something like 4%-7% of estates.

If it was abolished, half the total savings would go to the top 1% of the population.

It's currently targeted at the very richest people in society. Why on earth would they be the people we target with a tax cut?

 

[Mr Kobayashi]

What a load of socialist clap trap nonsense. People dont hang on to their assets after death. Do your research!

Educate yourself.

It's very generous when you include Nil rate bands.

The taxing twice is nonsense anyway because you are taxing the beneficiaries.

Residence Nil Rate Band: How to Benefit from the £1 million tax allowance

Learn how to benefit from the Residence Nil Rate Band, an additional allowance permitting up to £1 million inheritance tax free allowance.

barrellison.co.uk

 

[Phil1]

I’ve enjoyed every single minute of yours and the rest of the gangs enthusiasm and optimism the last few years that’s for sure.

Just need some self awareness now and you will all be fine ;-)

I’ll give it more than a few months before deciding if they are going to kill off the population or not. It was never going to be sunshine and rainbows. The Tory voters know that and are using the fact they have walked into a bit of a cluster fuck as an excuse to hammer them at every opportunity. Seems that’s the way politics work these days in the U.K.

Self awareness? Haha!

 

[johnny crossan]

Which public services would you cut at this stage then?

I want them to work not to be cut.

 

[Churchlawtonblue]

Why would it need raising? It affects something like 4%-7% of estates.

If it was abolished, half the total savings would go to the top 1% of the propulation.

It's currently targeted at the very richest people in society. Why on earth would they be the people we target with a tax cut?

Check out the average house price , that 4 to 7% figure is expected to nearly double in the next five years. So the tax take will go up massively regardless.

 

[hampshireblue]

Loving Starmer's speech this morning - nearly every point was a bare faced lie.
Basically the so called "Black Hole" is actually a "Red Hole" to fund Labour spending commitments and freeze folk to death who only get the basic state pension pension or a little bit more besides.
How knew Seniside was Labour policy?

What a load of bollocks. I bet you're a Tice supporter where some of his supporters believe the removal of the WFA is a form of genocide.

 

[Churchlawtonblue]

Educate yourself.

It's very generous when you include Nil rate bands.

The taxing twice is nonsense anyway because you are taxing the beneficiaries.

Residence Nil Rate Band: How to Benefit from the £1 million tax allowance

Learn how to benefit from the Residence Nil Rate Band, an additional allowance permitting up to £1 million inheritance tax free allowance.

barrellison.co.uk

Taxing an asset you have already paid tax on is taxing it twice. Whatever socialist spin you try and put on it.

 

[Alan Harper's Tash]

I want them to work not to be cut.

Okay, where does the money come from to make them work?

 

[mancityvstoke]

What a load of bollocks. I bet you're a Tice supporter where some of his supporters believe the removal of the WFA is a form of genocide.

your state pension is next

 

[johnny crossan]

Okay, where does the money come from to make them work?

UAE takeover?

 

[bluenova]

Check out the average house price , that 4 to 7% figure is expected to nearly double in the next five years. So the tax take will go up massively regardless.

The 4% is the current figure. The 7% is the 'nearly doubling".

The average home price is approx £290k.

Inheritance tax, if you're passing to kids/grandkids is £500k. That's the tax free bit too. Anyone inheriting £500k+ is also now one of the top few % richest people, so can afford to pay the tax.

It's a tax that is only paid by the wealthiest.

 

[hampshireblue]

I think you'll find all our public services are compulsory. The public servants who operate them and their union representatives (who control the Labour Party) will ensure that is the case.

This is so naive. The public servants are workers, the same as you and me. The union are workers, the same as you and me. Not all unions are affiliated to Labour.

So let's assume the amount of funding to local councils is frozen. Which public services are you willing to lose? Libraries, street cleaning, refuse collections? Not all are complsory but they all have to be paid for somehow. The key is how much we as a society are prepared to pay and for what.

 

[metalblue]

I do think that a lot of the moaners don't understand the WFA entitlement only applies if you were born before 23rd Sept 1958 so as people die off so with the WFA liability - and that had already been done by the last Tory administration.

Winter Fuel Payment

Winter Fuel Payment helps older people with their heating bills - claim form, how much you get, eligibility

www.gov.uk

Hahaha. You’ve had an absolute shocker.

 

[Bluemanc100]

your state pension is next

That's the worry... They call it an "allowance" so I assume that it will become means tested at some point under this government. In that way they can give away the state pension that hard working people will lose because they had the means (or audacity) to create private pension pots for themselves. They can then give that share to people who didn't have the means to create a private pension pot (or who thought fuck it, I'll do as little as possible and reap the rewards).

I can see that causing some major unrest...

My state pension isn't due for another 6 years so I doubt I'll ever see it....

 

[BlueAnorak]

What a load of bollocks. I bet you're a Tice supporter where some of his supporters believe the removal of the WFA is a form of genocide.

Only in your head.
Sadly I voted for this clown because the last lot were clowns.
Careful what you wish for is the order of the day.
Looks like we got rid of Bozo and got CoCo instead.
BTW Do you really think getting rid of the Winter Heating Allowance is a good policy?
Serriosly, wealthier pensioners pay tax and tapering the allowance based on the amount of tax they actually pay is what they should be doing - so the allowance disappears if a pensioner pays, say, £3,000 ponds tax a year.
The way they have done it is dangerous and will result in a vast amount of hardship and pension credit claims that wouldn't have happened otherwise. In fact it is actually unlikely to save much of any money at all and will cause a lot of hardship especially those who are proud and have an aversion to claiming benefits.

 

[Churchlawtonblue]

Tax big business, tax the very wealthy, tax the non doms, but they have to be very careful with things like CGT and small buiness taxes. These are the Uks wealth creators, put them out of buiness and the country could easily slide back into recession. Sectors of it like construction are still in recession. Starmer and Reeves have a very difficult juggling act on their hands next month.

 

[Mr Kobayashi]

Taxing an asset you have already paid tax on is taxing it twice. Whatever socialist spin you try and put on it.

You're making a huge assumption that the asset was paid for in earned income. It's paid on death.

You can't take it with you.

 

[Phil1]

That's the worry... They call it an "allowance" so I assume that it will become means tested at some point under this government so they can give away the share that hard working people will lose because they had the means (or audacity) to create private pension pots for themselves...

I can see that causing some major unrest...

My OAP isn't due for another 6 years so I doubt I'll ever see it....

I made peace with the fact there won’t be a state pension around by the time I’m at an age to receive it long ago.
I’m 48.

 

[Manc Born & Bred]

Did the government just find out about an extra £5bn of borrowing?published at 11:35 British Summer Time
11:35 BST​

Prime Minister Keir Starmer said: “Just last Wednesday we found out that, thanks to the last government’s recklessness, we’ve borrowed almost £5bn more than the OBR expected in the last three months alone.”

Starmer is referring to the monthly public sector finance figures, which show the gap between what the government spends and what it raises in taxes.

The government borrowed £51.4bn between April and July this year, external, which was £4.7bn more than the Office for Budget Responsibility (OBR) forecast in March.

The OBR said the gap “appears related to strong growth in public sector pay, external”.

As the figures are published monthly, however, this gap between the forecast and the actual borrowing figures was not a complete surprise, as June figures were £3.2bn above the OBR forecast, external.

 

[mancityvstoke]

That's the worry... They call it an "allowance" so I assume that it will become means tested at some point under this government so they can give away the share that hard working people will lose because they had the means (or audacity) to create private pension pots for themselves...

I can see that causing some major unrest...

My OAP isn't due for another 6 years so I doubt I'll ever see it....

The twats who don't willingly work will be fine ...........druggies, scrotes, lazy cunts, free everything for you.


Something isn't right about that.