"The autumn statement will be the end with rumours of an income tax rise.
If true, Sunak was right all along "
I can't bring myself to believe she will raise income tax after all the pledges not to do that. It would be political suicide. Perhaps it's a clever diversion . If they let such rumours gather pace then come the statement all eyes will be on income tax leaving her room to sneak in other tax raises instead |
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By *otMe66Man 28 weeks ago
Terra Firma |
unfortunately income tax rises across the whole board, is the only logical way to claw back the lost billions and get us back on track. caveat: they don't blow the income tax rises like they have the increased NI contributions etc..
However if she digs her heels in and clings onto the no income tax rises for working people, the hatchet jobs that will be dreamed up to raise the necessary funds will be painful and cause long lasting harm. |
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"unfortunately income tax rises across the whole board, is the only logical way to claw back the lost billions and get us back on track. caveat: they don't blow the income tax rises like they have the increased NI contributions etc..
However if she digs her heels in and clings onto the no income tax rises for working people, the hatchet jobs that will be dreamed up to raise the necessary funds will be painful and cause long lasting harm. "
I read 2% income tax increase on basic rate will raise £8bn, and raise far less on 40% and 45% rates as there are less people paying those rates.
Given she needs £30bn - £50bn what other options are on the table ?
Disability before u turn £5bn over parliamentary term
Pensioners winter fuel £1.7bn before u turn
Farmers iht £230m this year, increasing to £520m by 2028/29
Private school fee vat £460m
Relatively insignificant sums raised to far
Income tax increase
Reducing pension tax free cash/ isa allowances
£100m grab on classic car ved
Increase cgt rates, allowances have already been quartered
Some changes to iht
Entrepreneurs relief already capped at £1m
Annual property tax / annual asset tax rumoured
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"unfortunately income tax rises across the whole board, is the only logical way to claw back the lost billions and get us back on track. caveat: they don't blow the income tax rises like they have the increased NI contributions etc..
However if she digs her heels in and clings onto the no income tax rises for working people, the hatchet jobs that will be dreamed up to raise the necessary funds will be painful and cause long lasting harm. "
Last year she said it was a one off to fix a black hole and she wouldn't be back for more. Now she has miraculously found another black hole and is back for more. What will stop it happening every year |
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By *otMe66Man 27 weeks ago
Terra Firma |
"unfortunately income tax rises across the whole board, is the only logical way to claw back the lost billions and get us back on track. caveat: they don't blow the income tax rises like they have the increased NI contributions etc..
However if she digs her heels in and clings onto the no income tax rises for working people, the hatchet jobs that will be dreamed up to raise the necessary funds will be painful and cause long lasting harm.
Last year she said it was a one off to fix a black hole and she wouldn't be back for more. Now she has miraculously found another black hole and is back for more. What will stop it happening every year"
Productivity increases, however the government is not helping in that space. The uplift in NI contributions has damaged that, with job losses, expansion slow downs and making products from the UK too expensive.
If they could hold off from hitting business and actively support business we could see improvement. If the budget is aimed at business and those that create business, we could be in for some nasty surprises. |
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"unfortunately income tax rises across the whole board, is the only logical way to claw back the lost billions and get us back on track. caveat: they don't blow the income tax rises like they have the increased NI contributions etc..
However if she digs her heels in and clings onto the no income tax rises for working people, the hatchet jobs that will be dreamed up to raise the necessary funds will be painful and cause long lasting harm.
Last year she said it was a one off to fix a black hole and she wouldn't be back for more. Now she has miraculously found another black hole and is back for more. What will stop it happening every year"
Should just call it a Black Hile tax and hope the public dont cotton on, Mrs x |
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