The Labour Government

So....

What will be used to make up for the Income tax u turn?

A substantial tax on profiteering?

1% tax on any houses sold over £1,000,000?

A new wealth tax created to make the rich pay their fair share?

The treasury telling health/transport and other public services to cut wages/pay rises/support services?

Logan's run style TV show to save on pensions payouts?

Be interesting to see what the chancellor has in mind. Bound to be something that won't affect her donors.
 
The correct choice not going back on a clear promise made. Also it (hopefully) will focus attention on other streams and/or an attempt to look at the taxation system as a whole. Labour has a great opportunity (given its massive majority and at least 3.5 years left) to deliver some real change
 
mosssideblue said:
I think too many have bought into speculation as being gospel.

Let’s wait until what is actually said at the budget before getting bent round the axle over social media and press speculation
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Their messaging has been atrocious.
First it was that they had inherited a financial black hole that was much worse than anticipated.
Once we got used to that message we had Reeves doing that unusual presser just a few weeks ago, that was widely acknowledged as laying the foundations for a budget that might hurt.
Now we have Streeting and others saying manifesto promises will not be broken, and strong suggestions Reeves is changing her mind again.
I get that things change and other options might appear, but FFS get the optics right. Otherwise it gives the impression of a government who are all over the place and allowing leaks and subsequent speculation to see how things lie. And that isn't the sign of strong leadership.
 
hampshireblue said:
Whatever she does or may do on thresholds, ensuring the state pension on its' own doesn't attract tax should be a priority. Dragging people on just the state pension into tax would be madness. I'd actually like to see the bottom threshold go up to about £15k (breathing space for future pension rises) and the 40% tax maybe frozen or a bit lower.

I'm disappointed generally on tax as they have a great opportunity to make the whole system simpler and fairer.
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If we are going to reform the tax system it needs to be done outside of the budget process though.
 
mackenzie said:
Their messaging has been atrocious.
First it was that they had inherited a financial black hole that was much worse than anticipated.
Once we got used to that message we had Reeves doing that unusual presser just a few weeks ago, that was widely acknowledged as laying the foundations for a budget that might hurt.
Now we have Streeting and others saying manifesto promises will not be broken, and strong suggestions Reeves is changing her mind again.
I get that things change and other options might appear, but FFS get the optics right. Otherwise it gives the impression of a government who are all over the place and allowing leaks and subsequent speculation to see how things lie. And that isn't the sign of strong leadership.
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Again. It’s speculation fuelled by media outlets and then absorbed as fact by many.
 
mosssideblue said:
So you want tax rises
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If there was a strong enough argument made that it result in investments related to the public realm then I could be convinced.

My point is more that they've spent the last two months priming everyone for an Income Tax increase and are bottling it at the last minute. Especially as it'll probably end up the net result if they mess with thresholds, it's cowardly. Give us something to believe in
 
Dazzle84 said:
If there was a strong enough argument made that it result in investments related to the public realm then I could be convinced.

My point is more that they've spent the last two months priming everyone for an Income Tax increase and are bottling it at the last minute. Especially as it'll probably end up the net result if they mess with thresholds, it's cowardly. Give us something to believe in
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The “priming” as you put it is simply noise amplified by the media as being her only option.

I would simply rather wait until what the budget reveals before having digs
 
If they dont raise tax they may well reduce the personal tax allowance, it keeps to the manifesto promise but still brings in additional money.
Trouble is it will impact low earners the most.
 
mosssideblue said:
I think too many have bought into speculation as being gospel.

Let’s wait until what is actually said at the budget before getting bent round the axle over social media and press speculation
Click to expand...

Do you think the press make this stuff up or are they getting briefed it from people with first hand knowledge?
 
TinFoilHat said:
So....

What will be used to make up for the Income tax u turn?

A substantial tax on profiteering?

1% tax on any houses sold over £1,000,000?

A new wealth tax created to make the rich pay their fair share?

The treasury telling health/transport and other public services to cut wages/pay rises/support services?

Logan's run style TV show to save on pensions payouts?

Be interesting to see what the chancellor has in mind. Bound to be something that won't affect her donors.
Click to expand...

Tax threshold freezes
Absolishing salary sacrifice on pensions
Tax on electric cars

(According to Peston)
 
mosssideblue said:
The “priming” as you put it is simply noise amplified by the media as being her only option.

I would simply rather wait until what the budget reveals before having digs
Click to expand...
Oh come on, she did a bloody press conference and they've been flying kites in the media for months - it's naive to suggest that hasn't come from the Treasury
 
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