Reeves warns of ‘difficult decisions’ as she outlines plan to reverse £140bn Tory black hole
https://www.independent.co.uk/news/uk/politics/reeves-dificult-decisions-fix-economy-b2575616.html
Posted by masterblaster0
Reeves warns of ‘difficult decisions’ as she outlines plan to reverse £140bn Tory black hole
https://www.independent.co.uk/news/uk/politics/reeves-dificult-decisions-fix-economy-b2575616.html
Posted by masterblaster0
15 Comments
Difficult decisions like raising income tax by 5% for all amounts earned over £80,000, taxing capital gains the same as income, and raising corporation tax back to its 2011 level, as well as taxing multinationals a proportion of their global income consistent with their sales in the UK rather than letting them avoid tax by “licensing” to Irish shell companies?
Or like freezing the income tax bands and making everyone including the absolute poorest in our society pay more? Gee I wonder which they will pick?
actually excited to see what it is. If its tax rises, perhaps we should be more willing to put their heads on pikes.
In a nutshell:
Austerity
‘And you will thank us for it.’
Increasing tax, but I thought the million migrants arriving over the last year was supposed to make us all richer!
I hope the Brits aren’t dumb enough to put up with another 14 years of austerity. It’s a scam. It’s a transfer of wealth from the poorest to the richest. It’s tough decisions for those on the bottom of the ladder, sunlit uplands and wealth creation for the rest (including MPs taking almost £100,000 pa, not to mention subsidized expenses, business costs, parliamentary dinners, gratuities and large scale donations often of a six-figure variety.)
They’ve been mugging the public purse for nearly 20 years, have caused well over 400,000 preventable deaths due to ongoing austerity measures, and the boldest action you can expect from the British is to vote to change the grifters’ rosettes from blue to red. Behind closed doors they must be pissing themselves with laughter at our expense. We should’ve been out burning things to the ground a decade ago.
A perfect example of the fact Labour and Tories are a uniparty. In 2010 Labours screamed as loud as possible about cuts and tax rises required to control the debt, and when it’s their turn, in similar economic circumstances, they do the exact same thing.
Both horrific parties.
Reform council tax to be progressive instead of just another way of taxing poor people
Wealth tax
£100k a year is £68,500 after tax
NHS pension at consultant level is 13% and paying £500 a month in student loans so your take home is then £55,000
Take out your professional subscriptions for £2,000 a year, exams portfolios and you’re down to £53,000 a year after tax
When there’s 160 billionaires, and thousands more people with net worth over £10m I really don’t get this obsession with taxing working people’s income when the real wealth is hoarded by a tiny group of people.
I’d get the the mentality of £100k being a lot of that was the top concentration of wealth, but it’s not even close, it’s just squeezing the upper end of middle class who maybe have twice as much as you and ignoring the people who 10,100,1000 times more than you
Incoming disablity cuts and support for unpaid carers
I can’t understand how some people think increasing tax on the average person is going to help. They need to increase the tax threshold on those earning 50k+ as 40% at this earning is ridiculous now. £30,000 14 years ago has the same purchasing power as £48,000 now. Everyone needs to push to increase tax threshold and bolster earnings.
Fiscal drag has been the biggest theft from the working class in the last few years
Workers on the payroll already pay a disproportionate level of tax. Need fair tax rates on other incomes and clamp down on avoidance/evasion. That includes capital gains, the super rich AND the self employed with all the tax write offs and undeclared earnings. Or workers on the payroll should get to write off tax….. like the season ticket into London that is 15% of my gross salary.
Individuals, especially very rich individuals as some of you reference here, are millionaires not because of their current income, but because they hold assets that are worth a lot. You can’t just say: Hey, your land is estimated to be worth 500 million so now we want 2% of that value in annual tax, thank you. Imagine living in the heart of Edinburgh in a family home and being told that because it is now worth over a million pounds you have to start paying an additional
One of the big issues this government has is that almost all it’s own assets have been washed down the sink by previous governments (not just the Tories, PFI was a Labour initiative, meaning schools and hospitals which traditionally were government assets are now privately owned).
One of the things they should consider very seriously is building up assets again by investing in the country. Use CPOs/bailouts to buy out run down and poorly run privately held assets and set up investment plans that locals can contribute to, to regenerate an area. They’ve still got stock in NatWest, I haven’t got a clue who runs the East Coast Mainline now, but that was in government hands. It’s not about making everything public owned again, it is about picking the parts that you know you will be able to turn around.
Let Thames water go bust for example, who gives a shit about their shareholders. Push them on their responsibilities and if they can’t meet those than hunt them to bankruptcy, take over the assets without the debt and clean ship.
Due to this entirely surprising news, that I could not possibly have been aware of before the election. I regret to inform you that, you’re all getting a £2k tax rise, just like Rishi said you would.
Nobody will say it out loud, but things will not get better until the demographic bulge of the Baby Boomers has passed. Social Care and the State Pension is an enormous drain on public resources and we don’t have enough workers to cover the costs. The huge rate of immigration is temporarily covering the cracks, but causing multiple other issues.
All the people hoping Labour were “playing the game” during the election and would suddenly swing left after gaining power are going to have a rude awakening.