Not in regard the income tax and NI, if they’d just come out and said we need to put up them up by 1p, instead of trying to fudge stuff, also scrap the freeze on personal allowance so the poorest get a break.Isn’t that exactly what they did say? Most new governments say the same thing, but then don’t have the stomach to take the action needed.
Not if it's done on higher values items-say above £300. Chuck in VAT on private healthcare and VAT on fuel for private jets. I would also have higher VAT on high usage of gas/electricity. A friend of my brother has an indoor pool that is heated the whole winter at a cost of approx £8000, yet he still pays the same rate of VAT as you and me for normal heating. Not sure at what level the rise should kick in but there are ways to make the higher users pay a bit more.
All the more reason for a cashless society (noted that for the very elderly this may be a challenge), it would also prevent to some degree money laundering by criminals. Although we might see a significant reduction in the number of Turkish barbers and hand car washes.Paye stiffs take the hit again, a tax rise and a concerted effort to get others to pay their fair share please.
Sick of corps taking the piss and roofers having their 5th jolly to Spain this year. Plenty of beers and golf can be bought with the 'discount for cash' and personal allowance saving for the wife who works part time at the firm, honest she does.
But everyone pays, so even all the cash in hand twats have to spend it and will pay a share on it, unfortunately you’ll never please everyone.
Whats a luxury these days, having a drink in town is £6 these days! But I get what you mean as someone pointed out earlier maybe anything over say £300 and possibly a higher rate for stupid things like supercars etcYou could apply a different vat rate to luxury goods.
Don't forget the NI etc changes were to fill the 20b black hole and allow extra spending.Sorry I'm confused.
When Labour came in they said it was a 20Bn black hole, they then introduced policies to fill the black hole. According to the above in May it was reported that it was a 60Bn hole but now its 41.2Bn ?
So 20Bn - (income from changes) = 41.2Bn doesn't that mean its grown by more than 21.2Bn in 12 months ?
Surely thats not positive news.
I think their calculators are broke or maybe just fucking incompetentSorry I'm confused.
When Labour came in they said it was a 20Bn black hole, they then introduced policies to fill the black hole. According to the above in May it was reported that it was a 60Bn hole but now its 41.2Bn ?
So 20Bn - (income from changes) = 41.2Bn doesn't that mean its grown by more than 21.2Bn in 12 months ?
Surely thats not positive news.
No it means it's grown by £41.2bn - using your figures. Because the last budget raised sufficient funds to plug the original alleged £20bn.Sorry I'm confused.
When Labour came in they said it was a 20Bn black hole, they then introduced policies to fill the black hole. According to the above in May it was reported that it was a 60Bn hole but now its 41.2Bn ?
So 20Bn - (income from changes) = 41.2Bn doesn't that mean its grown by more than 21.2Bn in 12 months ?
Surely thats not positive news.
Not if it's done on higher values items-say above £300. Chuck in VAT on private healthcare and VAT on fuel for private jets. I would also have higher VAT on high usage of gas/electricity. A friend of my brother has an indoor pool that is heated the whole winter at a cost of approx £8000, yet he still pays the same rate of VAT as you and me for normal heating. Not sure at what level the rise should kick in but there are ways to make the higher users pay a bit more. The same bloke is all in favour of a "wealth" tax, although what counts as wealth is a moot point. He reckons he could pay 20% and would barely notice.
That would be a bad idea tbh, since poor people are more adversely affected. Put income tax up and poor are protected by the personal allowance, and you can even raise the personal allowance to compensate. If taxes must go up - as seems inevitable - then IMO she should put up income tax. But not only the top rate, all the rates so everyone shares the burden.Ye I always think that, maybe a fairer way is put VAT up then everyone pays their fair share, Labour should’ve been honest from the start and said look it’s a shit show worse than we thought and we are going to have to go back on a few promises, at least then everyone would know where they stood
They didn't!? God they are so sneaky! Thank god for Labour! ;)The Tories didn't tell them about even more hidden black holes, all Downing St staff have been told not to open any more drawers under any circumstances. The Gardner has also had his spade confiscated.
I'm surprised at you saying that. Flawed Labour ideology thinks increasing taxes just raises money with no adverse consequences. Of course that's not true.You could apply a different vat rate to luxury goods.
Will the standard response to questions on the economy now change from opening withDon't forget the NI etc changes were to fill the 20b black hole and allow extra spending.
I'm surprised at you saying that. Flawed Labour ideology thinks increasing taxes just raises money with no adverse consequences. Of course that's not true.
For ever 100 people buying e.g. a yacht there will be 1 who doesn't care what it costs - and who you could tax as you suggest. But 99 who absolutely do. Putting taxes up stops them buying things, and guess what, depresses growth. Typical Labour flawed ideology in action.
That's plainly true of some people but you cannot argue that everyone is price insensitive. Price - volume elasticity is not just a theory!I don’t believe those in the market for real luxury items are put off buying at all mate as they clearly have the wealth to do so.
I wanted an Omega and bought one. It could well have been more expensive due to a higher tax sales rate but I would still have bought it.
Or just your warped opinion. It took 14 years to get into the mess and you blame 12 months for everything. They have made mistakes but it is going to take time. If it's still as bad in 4 years, come back and have a go. In the meantime try coming up with something constructive as many on here have tried to do.Will the standard response to questions on the economy now change from opening with
".... this mess we inherited from the previous government"
to
".... this mess we have created in our first year in office",
Because, that ladies and gentlemen is the truth!
Or buying a new TV, does another £40-£50 in VAT really influence the decision?I don’t believe those in the market for real luxury items are put off buying at all mate as they clearly have the wealth to do so.
I wanted an Omega and bought one. It could well have been more expensive due to a higher tax sales rate but I would still have bought it.
Or buying a new TV, does another £40-£50 in VAT really influence the decision?
Credit were its due though there was a plan from the leadership to cut welfare spending that would have helped but back benches cut their legs off.Will the standard response to questions on the economy now change from opening with
".... this mess we inherited from the previous government"
to
".... this mess we have created in our first year in office",
Because, that ladies and gentlemen is the truth!