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Budget changes to pensions
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"What are you expecting? Removal of 40&45% tax relief? Cap on 25% lump sum tax free amount? The taxation of people on state pension only won’t hit this year , but will they address it now with new pension tax codes ? Anything else ? " 45% relief will go, unions arguing to keep 40% Lifetime limit was abolished last year, maybe reinstate that? It’s all political nonsense as pension funds invest in commercial property, equities and bonds which are directly invested in the economy. What about policies for economic growth as opposed to typical labour tax grab for the black hole. The tories have already increased tax’s the highest amount since 1946 Time to change the record. | |||
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"Given the furore over Winter fuel payments, I'm doubtful Labour will risk drastic tax changes. They need to do far more research on impact instead of shooting from the hip (Non-Dom taxation is turning into another disaster). " Agree, less tax as the non doms move out completely. | |||
"Given the furore over Winter fuel payments, I'm doubtful Labour will risk drastic tax changes. They need to do far more research on impact instead of shooting from the hip (Non-Dom taxation is turning into another disaster). " I've just read there's speculation of tax on income from ISA's. To say these were set up as one of the only ways to save free from tax, I don't know how people are supposed to save or have any emergency funds at all. If there's that big a shortfall they should just reverse the change to Nat Insurance contributions, it apparently costs £22bn, so bring it in next year if and when the economy has improved or when needed. | |||
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"I fondly remember the days pre internet when we used to wait for governments to actually do something before we got angry about reality." Now it's mostly leaked in the months leading up so the news breaks gently | |||
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"Given the furore over Winter fuel payments, I'm doubtful Labour will risk drastic tax changes. They need to do far more research on impact instead of shooting from the hip (Non-Dom taxation is turning into another disaster). Agree, less tax as the non doms move out completely." There is a report on the bbc website today saying that the top 60 earners in the country make up 0.0002% of the tax paying population but contribute 1.4% of income taxes paid. Not to mention all the other taxes they pay. The IFS is warning that it would not need an exodus of these people to cause a problem. They say just a small amount of them leaving will create a big hole in the government's finances | |||
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"Compulsory euthanasia for the over 70s."  noooooo | |||
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"Given the furore over Winter fuel payments, I'm doubtful Labour will risk drastic tax changes. They need to do far more research on impact instead of shooting from the hip (Non-Dom taxation is turning into another disaster). Agree, less tax as the non doms move out completely. There is a report on the bbc website today saying that the top 60 earners in the country make up 0.0002% of the tax paying population but contribute 1.4% of income taxes paid. Not to mention all the other taxes they pay. The IFS is warning that it would not need an exodus of these people to cause a problem. They say just a small amount of them leaving will create a big hole in the government's finances" Issue is the high tax it’s what you get for it, compared to other high tax countries like Netherlands, Canada. Most people I know are more than happy to handover half, if getting decent and subsidised health, transport, schools , low crime etc but everything is broken | |||
"Given the furore over Winter fuel payments, I'm doubtful Labour will risk drastic tax changes. They need to do far more research on impact instead of shooting from the hip (Non-Dom taxation is turning into another disaster). Agree, less tax as the non doms move out completely. There is a report on the bbc website today saying that the top 60 earners in the country make up 0.0002% of the tax paying population but contribute 1.4% of income taxes paid. Not to mention all the other taxes they pay. The IFS is warning that it would not need an exodus of these people to cause a problem. They say just a small amount of them leaving will create a big hole in the government's finances Issue is the high tax it’s what you get for it, compared to other high tax countries like Netherlands, Canada. Most people I know are more than happy to handover half, if getting decent and subsidised health, transport, schools , low crime etc but everything is broken " Yes it does not seem good bang for the buck and if these very wealthy people start leaving then taxes on ordinary earners will have to increase, or big cuts to already poor services. | |||
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"And the top 1% paying 29% of the tax take. We are not super wealthy, but have applied for and expect to obtain our Dubai residency in the next 10 days. I have paid north of £250k a year in income tax alone since 2020 and we're moving our business domicile to Singapore with a branch in the Irish Republic. We only employ 4 people but the jobs are moving too. We can only spend 16 days a year here over the next 3 years under the residency countback rules, but frankly the state this country is in that's more than enough. Well done the Tories and Labour. All our friends in business (including a pro footballer friend ploughing his trade in the Bundesliga) are taking similar measures more usually by obtaining EU passports and relocating to Portugal or Cyprus. Our wealth management firm (no names) told us just 2 weeks ago that they anticipate 17% of their clients leaving the UK in the next 12 months." I highly doubt anyone is moving to Portugal to avoid high taxes. Having just come back from there I was shocked at how high theirs is. Admittedly their public services put ours to shame. | |||
"It's slowly dawning on everybody that this Labour government have no clue what they are doing. If we're not careful these incompetents are going to put the ship on the rocks." Even todays guardian saying Reeves in a last minute scrabble with non researched and potentially botched budget plans. | |||
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"Given the furore over Winter fuel payments, I'm doubtful Labour will risk drastic tax changes. They need to do far more research on impact instead of shooting from the hip (Non-Dom taxation is turning into another disaster). Agree, less tax as the non doms move out completely. There is a report on the bbc website today saying that the top 60 earners in the country make up 0.0002% of the tax paying population but contribute 1.4% of income taxes paid. Not to mention all the other taxes they pay. The IFS is warning that it would not need an exodus of these people to cause a problem. They say just a small amount of them leaving will create a big hole in the government's finances Issue is the high tax it’s what you get for it, compared to other high tax countries like Netherlands, Canada. Most people I know are more than happy to handover half, if getting decent and subsidised health, transport, schools , low crime etc but everything is broken Yes it does not seem good bang for the buck and if these very wealthy people start leaving then taxes on ordinary earners will have to increase, or big cuts to already poor services. " You don’t need to be super wealthy to leave , most workers are not super earthly. Even earning 100k remotely from Dubai , living costs comparable , services 100000x better, employers have to provide private healthcare, living costs , no crime, stick 50K in your pension. | |||
"Given the furore over Winter fuel payments, I'm doubtful Labour will risk drastic tax changes. They need to do far more research on impact instead of shooting from the hip (Non-Dom taxation is turning into another disaster). Agree, less tax as the non doms move out completely. There is a report on the bbc website today saying that the top 60 earners in the country make up 0.0002% of the tax paying population but contribute 1.4% of income taxes paid. Not to mention all the other taxes they pay. The IFS is warning that it would not need an exodus of these people to cause a problem. They say just a small amount of them leaving will create a big hole in the government's finances Issue is the high tax it’s what you get for it, compared to other high tax countries like Netherlands, Canada. Most people I know are more than happy to handover half, if getting decent and subsidised health, transport, schools , low crime etc but everything is broken Yes it does not seem good bang for the buck and if these very wealthy people start leaving then taxes on ordinary earners will have to increase, or big cuts to already poor services. You don’t need to be super wealthy to leave , most workers are not super earthly. Even earning 100k remotely from Dubai , living costs comparable , services 100000x better, employers have to provide private healthcare, living costs , no crime, stick 50K in your pension. " … and just turn a blind eye to the lack of human rights. Good to see them finally starting to hand over some of the criminals who have made dubai their home though. The irony … so strict on drugs, but top drug barons have been living their safety for years … | |||
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"When it is suggested that very rich people might leave the uk, the defence is usually “nah, they say that, but they won’t”. When labour put the top rate of income tax up from 40% to 50%, that’s precisely what happened. At the time, I was operating with a number of hedge funds. One of the larger ones moved its top earners (the fund managers and quants), to Switzerland, removing them from the tax net. One firm, hundreds of millions of tax income. Jim ratcliff moving to Monaco was estimated to have saved him 4 billion in tax. There’s a tipping point with taxation where the law of diminishing returns kicks in. " It’s a out fairness (perceived by those impacted). The scenarios looking at upping CGT increases have ranges from 33% to 39% and around the mid range it raises tax revenue but go up to 39% and behaviours change resulting in negative outcomes (a reduction in tax take). If people feel they are being targeted, and if they have the means, they will leave/offshore. A bit of an increase to improve the UK, and they will stay put as they can see some degree of fairness and offset that against the hassle of uprooting their lives. Go too far and cost/benefit analysis says “bye bye UK” | |||
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"The agenda is " crash the economy ", Blame Brexit and the Tories. Get it over and done with and then emergency rejoin EU. They are rejoiner government. simple as that. Forget all the hard work the nation has put in over last few years to recover from Brexit, Covid, Putin's war and now Middle East conflict." | |||
"It's slowly dawning on everybody that this Labour government have no clue what they are doing. If we're not careful these incompetents are going to put the ship on the rocks." | |||
"We are told that to achieve growth we need the private sector to thrive. For the private sectors to thrive they need a functioning infrastructure. After 14 years of decline in our infrastructure how exactly is the country going to square that circle." Still blaming the tories, I see! That doesn’t fix anything … | |||
"When it is suggested that very rich people might leave the uk, the defence is usually “nah, they say that, but they won’t”. When labour put the top rate of income tax up from 40% to 50%, that’s precisely what happened. At the time, I was operating with a number of hedge funds. One of the larger ones moved its top earners (the fund managers and quants), to Switzerland, removing them from the tax net. One firm, hundreds of millions of tax income. Jim ratcliff moving to Monaco was estimated to have saved him 4 billion in tax. There’s a tipping point with taxation where the law of diminishing returns kicks in. It’s a out fairness (perceived by those impacted). The scenarios looking at upping CGT increases have ranges from 33% to 39% and around the mid range it raises tax revenue but go up to 39% and behaviours change resulting in negative outcomes (a reduction in tax take). If people feel they are being targeted, and if they have the means, they will leave/offshore. A bit of an increase to improve the UK, and they will stay put as they can see some degree of fairness and offset that against the hassle of uprooting their lives. Go too far and cost/benefit analysis says “bye bye UK”" Agreed. The people will find it easiest to move are the very richest ones, and the ones that are the biggest loss in terms of tax revenue. In the example I gave, private jetloads of investment managers started flying to Switzerland Mon-fri, taking hundreds of millions away from tax revenue. I don’t have quite that level of mobility, I’m afraid … the ones that get caught by increases are those that aren’t quite rich enough to move so easily. | |||
"Have you been hiding for the last 14 years ! 🤡🤡 It's slowly dawning on everybody that this Labour government have no clue what they are doing. If we're not careful these incompetents are going to put the ship on the rocks." Hi. The previous government were voted out, loud and clear. People are now realising that the other lot are not fit for government, many of their flagship policies are unraveling fast. Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. People have reached saturation point re tax. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. " As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. | |||
"We are told that to achieve growth we need the private sector to thrive. For the private sectors to thrive they need a functioning infrastructure. After 14 years of decline in our infrastructure how exactly is the country going to square that circle. Still blaming the tories, I see! That doesn’t fix anything … " Just stating a fact, the infrastructure is worse now than in 2010. So what’s your answer to the country’s problems. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues." What should Labour do? | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do?" They should scrap planning laws & let the private sector fix housing and infra for a start. Realistically there’s no other way to turn things around. But they won’t , just like every other government wants to try and fix things and plays around the edges of privatisation, too scared of real change | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do?" Think their plans through properly? | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? " I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting." You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor." So if you don't believe in long term borrowing to repair the country's infrastructure, how do you plan to do it? | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor. So if you don't believe in long term borrowing to repair the country's infrastructure, how do you plan to do it?" Borrowing isn’t always the answer. Too much debt leads to higher interest payments and risks burdening future generations, we are seeing this play out under labour cuts today and I will assume in the budget. We will obviously need to borrow, but the money isn’t spent wisely as a rule, leading to more problems down the line. It’s not just about borrowing, smart investment is what matters, not throwing money at every problem which is labours go to. I could list out a lot of labours commitments and predict the cost and downfall that will follow from them, due to the lack of ongoing costings that are missing, coupled with a lack of data that show us ROI other than blue sky thinking. This makes me nervous about their leadership, their effectiveness or ineffectiveness in business and the markets, which impacts me directly. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor. So if you don't believe in long term borrowing to repair the country's infrastructure, how do you plan to do it? Borrowing isn’t always the answer. Too much debt leads to higher interest payments and risks burdening future generations, we are seeing this play out under labour cuts today and I will assume in the budget. We will obviously need to borrow, but the money isn’t spent wisely as a rule, leading to more problems down the line. It’s not just about borrowing, smart investment is what matters, not throwing money at every problem which is labours go to. I could list out a lot of labours commitments and predict the cost and downfall that will follow from them, due to the lack of ongoing costings that are missing, coupled with a lack of data that show us ROI other than blue sky thinking. This makes me nervous about their leadership, their effectiveness or ineffectiveness in business and the markets, which impacts me directly. " Yes I get it you don't believe in Labours plan, now would you like to answer my question how would you plan to repair the country's woeful infrastructure. You know things like a functioning transport system, decent roads, being able to see your local GP, social services that actually provide a service. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor. So if you don't believe in long term borrowing to repair the country's infrastructure, how do you plan to do it? Borrowing isn’t always the answer. Too much debt leads to higher interest payments and risks burdening future generations, we are seeing this play out under labour cuts today and I will assume in the budget. We will obviously need to borrow, but the money isn’t spent wisely as a rule, leading to more problems down the line. It’s not just about borrowing, smart investment is what matters, not throwing money at every problem which is labours go to. I could list out a lot of labours commitments and predict the cost and downfall that will follow from them, due to the lack of ongoing costings that are missing, coupled with a lack of data that show us ROI other than blue sky thinking. This makes me nervous about their leadership, their effectiveness or ineffectiveness in business and the markets, which impacts me directly. Yes I get it you don't believe in Labours plan, now would you like to answer my question how would you plan to repair the country's woeful infrastructure. You know things like a functioning transport system, decent roads, being able to see your local GP, social services that actually provide a service." You’re stepping a bit outside my remit with some of that! 😄 But let’s be honest the longterm fix would be solving global issues, and the short term answer is just as complex. The starting point has to be figuring out what actually drives prosperity and what’s holding it back. Then to balance that with what people want, which could be anything from feeling secure to having basic services actually function. Build on pillars of growth, set clear priorities, invest for quick wins and long-term benefits. That’s where this government is falling flat. They thought they had quick wins, but those turned into quick losses. | |||
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" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor. So if you don't believe in long term borrowing to repair the country's infrastructure, how do you plan to do it?" Massively slash the welfare bill. State support is massively abused in this country. That’s one step. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor. So if you don't believe in long term borrowing to repair the country's infrastructure, how do you plan to do it? Borrowing isn’t always the answer. Too much debt leads to higher interest payments and risks burdening future generations, we are seeing this play out under labour cuts today and I will assume in the budget. We will obviously need to borrow, but the money isn’t spent wisely as a rule, leading to more problems down the line. It’s not just about borrowing, smart investment is what matters, not throwing money at every problem which is labours go to. I could list out a lot of labours commitments and predict the cost and downfall that will follow from them, due to the lack of ongoing costings that are missing, coupled with a lack of data that show us ROI other than blue sky thinking. This makes me nervous about their leadership, their effectiveness or ineffectiveness in business and the markets, which impacts me directly. Yes I get it you don't believe in Labours plan, now would you like to answer my question how would you plan to repair the country's woeful infrastructure. You know things like a functioning transport system, decent roads, being able to see your local GP, social services that actually provide a service." Labour’s plan? They don’t have one. | |||
"Politics isn’t sexy. The only thing in common between a swingers site and government politics is you get fucked." | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Think their plans through properly? I knew you couldn't give an answer. I personally hope they borrow billions for repairing the country's infrastructure, so that the very basics of the country can start to work again. If I see the country going in the right direction in 5 years time I'll vote for them again. If I don't I'll see what others are suggesting. You do know when they borrow billions, it has to be paid back? And guess what? The Tories will be in power when that bill needs paying, because as always, when society starts to buckle under the strain of debt repayments, people will switch governments. We’ve seen this play out before, the last time Labour left the building, they handed over a mess, and somehow people still blamed the incoming government for the austerity needed to clean it up. What goes up must come down, and Labour’s track record in managing that fall is pretty poor. So if you don't believe in long term borrowing to repair the country's infrastructure, how do you plan to do it? Massively slash the welfare bill. State support is massively abused in this country. That’s one step. " Ah yes it’s all the fault of the people with the least. | |||
" Ah yes it’s all the fault of the people with the least." That depends upon whether they are producing more than they consume, or consuming more than they produce. Like any segment of society. Ultimately, it's the fault of people who consume (or destroy/waste) more than they produce (or bring in to the country/add value), however rich or poor they are. | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do?" Firstly, not kill the goose that lays the golden eggs. Secondly, find a way to make the country more productive. Create wealth. Once wealth becomes the enemy, there is little that CAN be done. Pensions are brilliant, because it's wealth-creating capital that gets locked away for decades. Why not harness this wealth and give tax advantages if it's invested in small/mid-cap UK companies? | |||
" Latest is that the Treasury are telling RR that her ideas re CGT would reduce overall tax income. As long as it punishes "the rich", it will satisfy the bloodlust of the braying masses. Labour tax plans will increase government revenue like how Brexit reduced immigration. Oversimplified populist ideological solutions to complex (real) issues. What should Labour do? Firstly, not kill the goose that lays the golden eggs. Secondly, find a way to make the country more productive. Create wealth. Once wealth becomes the enemy, there is little that CAN be done. Pensions are brilliant, because it's wealth-creating capital that gets locked away for decades. Why not harness this wealth and give tax advantages if it's invested in small/mid-cap UK companies?" Oh, and it greatly reduces the UK pension bills of the future. All employers should contribute a minimum of 10% of income to pensions, which is tax free in terms of contribution and growth. | |||
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