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Lower UK government borrowing raises prospects of tax cuts
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BBC reporting the difference between government spending and tax income - fell to £7.8bn in December (ONS).
Leaving room for the chancellor to tempt voters with £20bn tax cuts.
Total debt - which is the overall amount of money owed by the government that has built up over years - was £2.67 trillion at the end of December.
That is the equivalent of 97.7% of the size of the UK's economy as measured by gross domestic product (GDP), remaining at levels last seen in the early 1960s, the ONS said.
Perpetual debt for the grandchildren but we can feel good now with some small tax cuts. |
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"Guarantee there will be headline grabbing tax cuts (but keep an eye on the stealth taxes) as it really is the only weapon the current Govt have to not lose the election!"
‘Inheritance Tax receipts for April 2023 to December 2023 are £5.7 billion, which is £0.4 billion higher than the same period last year’ (ONS)
Will this be abolished as rumoured |
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By *irldnCouple 15 weeks ago
Brighton |
"Guarantee there will be headline grabbing tax cuts (but keep an eye on the stealth taxes) as it really is the only weapon the current Govt have to not lose the election!
‘Inheritance Tax receipts for April 2023 to December 2023 are £5.7 billion, which is £0.4 billion higher than the same period last year’ (ONS)
Will this be abolished as rumoured "
Yes. It is highly emotive even though it affects far fewer people than generally believed. |
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"Guarantee there will be headline grabbing tax cuts (but keep an eye on the stealth taxes) as it really is the only weapon the current Govt have to not lose the election!
‘Inheritance Tax receipts for April 2023 to December 2023 are £5.7 billion, which is £0.4 billion higher than the same period last year’ (ONS)
Will this be abolished as rumoured "
. Hopefully yes . A very unfair tax that penalises the prudent I had one employee of HMRC that attempted to value an asset at 150 % of its true value . Her style of dress was hardly impressive . She even wore an anorak. |
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By *irldnCouple 15 weeks ago
Brighton |
"Guarantee there will be headline grabbing tax cuts (but keep an eye on the stealth taxes) as it really is the only weapon the current Govt have to not lose the election!
‘Inheritance Tax receipts for April 2023 to December 2023 are £5.7 billion, which is £0.4 billion higher than the same period last year’ (ONS)
Will this be abolished as rumoured . Hopefully yes . A very unfair tax that penalises the prudent I had one employee of HMRC that attempted to value an asset at 150 % of its true value . Her style of dress was hardly impressive . She even wore an anorak. "
I love your anecdotes. You have so many too! |
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"BBC reporting the difference between government spending and tax income - fell to £7.8bn in December (ONS).
Leaving room for the chancellor to tempt voters with £20bn tax cuts.
Total debt - which is the overall amount of money owed by the government that has built up over years - was £2.67 trillion at the end of December.
That is the equivalent of 97.7% of the size of the UK's economy as measured by gross domestic product (GDP), remaining at levels last seen in the early 1960s, the ONS said.
Perpetual debt for the grandchildren but we can feel good now with some small tax cuts. "
As nice as tax cuts are and yes I know many countries run a much higher debt to economy size but wouldn't it be better to use that money to reduce debt. After all its a reduction in borrowing not a surplus as far as I see |
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By (user no longer on site) 15 weeks ago
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We need to cut spending and increase the tax cuts
Too much tax is collected by the government
The debt ratio is ridiculous and we must make sure we are always collecting more than we are spending in non emergencies(like now) |
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