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    Reeves signals she will target asset-rich households in Budget
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    Reeves signals she will target asset-rich households in Budget

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    1. PhyllisCaunter on

      I’m far from rich but work hard and have gone without to accrue some assets. But I’m starting to get really fed up of being taxed more and more to pay for non productive people to have a lifestyle the same as mine. Everyone needs to pay in.

    2. Gold_Motor_6985 on

      Half of English land is owned by less than 1% of the population [1]. These people could afford to pay a portion of that land ownership in tax to the state so we can build housing for the general population.

      If she does this properly, especially with a nice land tax, I will be impressed. Might even stem some of the hemorrhaging towards the Greens.

      [1] “The findings, described as “astonishingly unequal”, suggest that about 25,000 landowners – typically members of the aristocracy and corporations – have control of half of the country.”

      [https://www.theguardian.com/money/2019/apr/17/who-owns-england-thousand-secret-landowners-author](https://www.theguardian.com/money/2019/apr/17/who-owns-england-thousand-secret-landowners-author)

    3. StGuthlac2025 on

      Genuine question. How do they know what assets people have if they’re paid off?

      Say she proposed changes and I sell my 8 bedroom house, downsize and then invest what’s left in some physical asset?

    4. FlockBoySlim on

      I doubt they’ll go far enough with this for it to make a real difference if they ever actually do it at all. But I’m more than happy to be proven wrong.

    5. Puzzleheaded-Key2212 on

      So me as a single 32 year old guy with a decent pension a few shares and my own house is considered asset rich?

      I am not a multi millionaire. I sacrificed a lot it took me the best part of 12 years to buy my house. I only got it last year.

      I get nothing from the government at all. Sick of this shit shafting everything and everyone unless you are a benefit bum.

    6. El_Wij on

      Raise the tax threshold from 50k to 75k.

      All your professionals are getting utterly chewed by fiscal drag.

      Tons are leaving the UK.

      Fucking Kevorkian solutionists.

    10. reckless-rogboy on

      I expect pension savings to be targeted. Not the gold standard defined benefit pensions of the state employees of course. Those particular benefits might be financially unaffordable but are politically untouchable.

      Anyone that has dared to take actual responsibility for their retirement will be an easy target as the public by and large have no idea how expensive it is to prepare for retirement. Reeves will just present anyone with a few hundred thousand in retirement savings as ‘wealthy’ and take a chunk of that money.

      She cannot tax banks as they are apparently essential to the economy and must have as much money as they want. Wealthy families with huge landholdings are untouchable. There won’t be any benefit cuts as that loses labour a lot of votes. So, once again, anyone trying to make a career is going to find their share of costs is going up.

    11. peareauxThoughts on

      Maybe instead of current benefits we could do some sort of buddy system where net tax contributors have a standing order set up for an unemployed “buddy”. They get to see where their money’s spent and get to take them for coffee or something every few months. Might help with the loneliness epidemic too.

    13. BigMasterDingDong on

      I hope this isn’t another scheme to penalise hard working people… the tax system in this country is a mess, and those who benefit most from it pay the least. It’s not right.

    14. wec2019seeng on

      In a previous labour conference the idea of charging a reduced value of CGT on first/own home was being floated.

      Something like £21bn in house sales and they don’t see a penny from any benefits achieved, was the thought

      Utterly clueless. Let’s kill the market entirely

      How dare you make a profit on any honest at all

    15. TheCharalampos on

      That’s… worrying. It takes time to craft good policy especially when it’s about the economy. Will they just crank something out so the Greens stop talking?

      I do hope they do a proper job of it.

    16. honkballs on

      *”pay their fair share of tax”*

      It boils my piss when then talk about fairness.

      How is me losing 45% of my income to income tax, then another ~5% National Insurance, and throw in monthly council tax, road tax, a fortune in stamp duty, then 20% tax to buy anything else fair?

      I have private medical insurance, my kids are in private school… what exactly am I getting in this deal?

    17. Hockey_Raccoon on

      Ah yes another attack on people that make something of themselves and enhance their lives. People may as well just give up now and go straight on benefits, especially young people starting out in their careers because what’s the point. If you make something of yourself the Labour Party will just take it away anyway.

    20. Over_Law4255 on

      She’s a cunt and hasn’t got a clue on how to run the economy. I can’t think of one labour government that has. I supported labour from 1983 and voted for them in every election until last year.

    22. Purplebobkat on

      Love that over half the populations heads are buried in the absolute sand, idiots. You do realise that this affects you too? People with assets aren’t necessarily rich.

    23. DogsDoggy2023 on

      Slightly off topic but I think council tax should be based on the value of the property the last time it was sold. Or based on the max price it has ever sold for. And there should be more bands!

      Equally it would nice but impractical to base the waste element of council tax on the volume of waste a household produces.

    24. cheeseley6 on

      The boomers are hoarding wealth in the UK and the same thing is happening in Europe – France is a prime example of this. The boomers are very well off and the younger people are working to support them.

    26. appletinicyclone on

      She’s not going after the 0.1% or 1% of wealth she’ll go after the HENRY’s and trying to use Gary’s economic type language.