Please treat other members in a constructive manner and abide by our Forum Rules at all times.
  • The Times - Today's Front Page
    Discover today's edition of the newspaper, cover and headline.
    www.frontpages.com

    Now the Chancellor is considering NI and income tax cuts!

    There must be an election on the horizon.

    As I said in another post these actions will stimulate the economy, help those struggling and make what is a despised government a little more popular.

    Inheritance tax cuts would definitely hurt their chances of any win in said election as it doesn't benefit enough of the electorate.

    Now to find those hidden listening devices Jeremy Hunt has placed in my home. 8o

  • The type of cuts he has in mind won’t make any real difference. Clearly paying less tax is generally a good thing but we are carrying a lot of debt and the associated interest payments wipe away a lot of the tax take. However, the taxes that are designed as lifestyle nudges such as fuel duty, alcohol and tobacco duty and green levies on energy bills should be removed entirely.

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

  • The best way to boost the economy is to raise the income tax threshold.

    Everyone benefits but lower paid workers the most

    These people don’t save much so all their cash goes straight back into the economy

    It also makes low paid work more financially attractive when we’re trying to wean people off benefits

  • The type of cuts he has in mind won’t make any real difference. Clearly paying less tax is generally a good thing but we are carrying a lot of debt and the associated interest payments wipe away a lot of the tax take. However, the taxes that are designed as lifestyle nudges such as fuel duty, alcohol and tobacco duty and green levies on energy bills should be removed entirely.

    Debt that politicians create!

    As for removing tax on alcohol and tobacco!

    They are luxuries, any non essential product should incur some tax, sugary drinks, sweets, cakes, biscuits etc all contribute to the obesity problem.

    You want to indulge in them then pay for the privilege of stuffing your face with them and adding to the health crisis.

    Moving the personal allowance threshold up to £15,000 would put another £2000 or so in peoples pockets.

    They will spend it and that keeps the economy moving.

    More demand means more jobs.

    More employment means more taxes collected.

    No money spare to spend and businesses go bust, unemployment goes up, the benefits costs go up.

    Keep the workforce happy, pay them enough to be able to indulge themselves a little and things will tick over a lot better.

    Hoarding money in an offshore account doesn't keep the economy going.

    The lower classes buying their groceries, clothing, furniture and the odd luxury item keep the economy going.

  • As Hunt has said himself, the government needs to be careful with any tax cuts that inflation doesn't rise again. If inflation does go up again, then all the efforts to lower prices would've been wasted.

  • They need to be careful with any tax cuts!

    Then why cut inheretance tax at all?

    Oh yeh, it panders to their voter base.

    What a load of Bollocks that is the problem those of the left filled with hatred and Envy it mars their reasoning, its a case of that person over there has more than I have take it off them and give it to me.

    The French about 10 years ago or more brought in a very high punitive rate of Income Tax for high earners, within weeks the high earners, business owners , innovators etc, pulled out of France and took their money and businesses with them, the French Government soon brought the tax rate down to a sensible level.

    I remember Labour when Harold Wilson was PM he did something similar , the high earners left in droves , even the Beatles moved their money out as they were being taxed so much.

    A less punitive tax on workers incomes is actually the best policy IMO , why work harder to earn more and be taxed more, lower income tax means workers can keep more of what they earn and have disposable income which they can either save or spend which boosts our economy , it also reduces tax evasion.

    The last Labour Government taxed and spent so much when voted out they left the Treasury Coffers empty they had spent and wasted so much of our taxes, that is why we had the years of austerity, which they moaned about week in week out.

    We are trying to recover from Covid and the damage to our economy and what are the far left doing ? striking which damages our economy even more.

  • In Horizons post she says Hunt is wary of tax cuts so my question is valid, if tax cuts could be a problem why have any at all?

    Why Inheritance Tax?

    My answer to that question was obvious, to pander to its supporters as there is an election coming.

    A carrot for their vote instead of looking to cut something that wouldbe beneficial to more people.

    To people with a more pressing need.

    I feel you won't be happy Fred until slavery becomes legal again!

  • remember Labour when Harold Wilson was PM he did something similar , the high earners left in droves , even the Beatles moved their money out as they were being taxed so much.

    98% if I recall correctly.

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

  • Even though only 4% of estates pay any

    Inheritance tax is an obscenity.

    The socialists seem to think that in the name of equality all counters need to be reset to zero for each generation and acquired wealth and assets at the point of death should be forfeited.

    Clearly the politics of envy in operation on this subject. The entire concept of “unearned wealth” is a raw spot with leftists who struggle with the idea of personal property and the ability to enjoy the fruits of your labours.

    Just look at any socialist state and you will see widespread poverty and no middle class. There is an elite ruling class that never offers democracy or gives up power but for some strange reason the lefties seem to be fine with that as long as everybody has the same outcome in life. What incentive can there be to self improve if every time you get somewhere the state just takes it all away from you?

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

  • Inheritance tax is an obscenity.

    The socialists seem to think that in the name of equality all counters need to be reset to zero for each generation and acquired wealth and assets at the point of death should be forfeited.

    Clearly the politics of envy in operation on this subject. The entire concept of “unearned wealth” is a raw spot with leftists who struggle with the idea of personal property and the ability to enjoy the fruits of your labours.

    Just look at any socialist state and you will see widespread poverty and no middle class. There is an elite ruling class that never offers democracy or gives up power but for some strange reason the lefties seem to be fine with that as long as everybody has the same outcome in life. What incentive can there be to self improve if every time you get somewhere the state just takes it all away from you?

    Meanwhile in the real world the government has raise money

    In effect as a couple you can leave £650,000 before any tax is paid hence only 4% of estates pay any .

    All this BS about leftie this & that , you read too many rightie websites

    A government needs to raise tax & inheritance is one of the ways it has been done for many years

    As for the self improvement my brother is looking to sell his business which he has built up over the last 15 years

    If it all comes together he will pocket around £800,000 tax free , there’s a benefit for someone who worked hard to create something

    Inheritance tax is affordable for the wealthy people who have to pay it

  • The last Labour Government taxed and spent so much when voted out they left the Treasury Coffers empty they had spent and wasted so much of our taxes, that is why we had the years of austerity, which they moaned about week in week out.

    Not true , your conveniently forgetting the banking crisis

  • You are missing the point TB.

    Celebrate it, Anticipate it, Yesterday's faded, Nothing can change it, Life's what you make it

Participate now!

Don’t have an account yet? Register yourself now and be a part of our community!