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Sounds as if Hunt will reduce NI again not sure, if you think a bribe will work, this is the best way to go about it.
Gives the wrong message as far as NHS is concerned. Secondly it has an adverse affect on a lot of low earning pensioners who find themselves paying increased income tax as tax allowances are frozen
If you destroy the link between NI and funding the NHS you might as well merge NI with income tax but I doubt either party has the guts for such a radical approach.
Time for a total rethink on taxation. Even an announcement of a review would be welcome.
It's win win for the Tories to try and bribe people. Even if they lose the election there will be less money for Labour.
It's stupid cutting taxes/NI when there is so much it could help fund if it's 'spare' money (and yes, I know it isn't!). The NHS, the military, roads, local councils...
Many of us 'in the middle' need to be serious and selfless enough to ask ourselves "do I want a nice little bonus to enable me and my family to enjoy a few more luxuries and trips etc., or would I rather pay a little more tax to enable the very fabric of our country to hold together?" The latter isn't even an entirely selfless attitude; we all live within that fabric and depend upon it for our safety.
I don't want any tax cuts for myself.
# WE ARE STEALING THE FUTURE FROM OUR CHILDREN --- WE MUST CHANGE COURSE #
Merging NI & income tax would need careful planning. You could take the simple route, and just combine the existing regimes, calling it income tax, but that would increase the tax rate on most pensioners from 20% to 29(?)%, which would be pretty severe. There are additional complexities from NI being charged differently according to employment status, etc.
I agree, reform is needed (though the mess that is Council Tax is even more important). In a sense it is already happening, as the reduction in NI (benefitting workers) is more than offset by a freezing in income tax bands (costing workers + most pensioners) .
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This weeks Budget give away/bribe on 10:17 - Mar 4 with 2342 views
This weeks Budget give away/bribe on 10:08 - Mar 4 by Freddies_Ears
Merging NI & income tax would need careful planning. You could take the simple route, and just combine the existing regimes, calling it income tax, but that would increase the tax rate on most pensioners from 20% to 29(?)%, which would be pretty severe. There are additional complexities from NI being charged differently according to employment status, etc.
I agree, reform is needed (though the mess that is Council Tax is even more important). In a sense it is already happening, as the reduction in NI (benefitting workers) is more than offset by a freezing in income tax bands (costing workers + most pensioners) .
NI should definitely be merged with income tax. Pensioners should pay tax on their pensions, but at a lower rate when over 67.
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This weeks Budget give away/bribe on 10:31 - Mar 4 with 2290 views
Apparently someone whose income is £12k pa will get an extra £34 per year reduction in NI if Mr Rhyming Slang cuts the rate by 2%, as is widely predicted
That will bring in an extra 65p per week to a low earnings family
Not really much of a bribe in my opinion
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This weeks Budget give away/bribe on 10:35 - Mar 4 with 2266 views
As I posted the other day, research from the Tony Blair Institute (yeah I know!) suggest people don’t want tax cuts. I think the realisation you get what you pay for has finally hit home. All very well saving 5p a week on NI, but it’s not much consolation when you are waiting for a life saving operation on the NHS.
The other thing is there’s no such thing as a free lunch - the income tax bands are still frozen so that’s a tax increase, especially given the inflationary environment for the last couple of years.
In summary desperate straw clutching. They could offer everyone a year of no income tax and they’d probably still get voted out of government.
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This weeks Budget give away/bribe on 10:35 - Mar 4 with 2262 views
Really. If they want to do a tax giveaway, the answer for me is to raise the thresholds, they have been frozen for too long now. Fiscal drag is possibly the biggest factor in the record tax-take the government has been 'enjoying'
This weeks Budget give away/bribe on 10:31 - Mar 4 by EdwardStone
Apparently someone whose income is £12k pa will get an extra £34 per year reduction in NI if Mr Rhyming Slang cuts the rate by 2%, as is widely predicted
That will bring in an extra 65p per week to a low earnings family
Not really much of a bribe in my opinion
65p? That's two whole meals AND one dessert, according to studies conducted by the Anderson School of Nutrition.
I'm one of the people who was blamed for getting Paul Cook sacked. PM for the full post.
This weeks Budget give away/bribe on 10:35 - Mar 4 by SuperKieranMcKenna
As I posted the other day, research from the Tony Blair Institute (yeah I know!) suggest people don’t want tax cuts. I think the realisation you get what you pay for has finally hit home. All very well saving 5p a week on NI, but it’s not much consolation when you are waiting for a life saving operation on the NHS.
The other thing is there’s no such thing as a free lunch - the income tax bands are still frozen so that’s a tax increase, especially given the inflationary environment for the last couple of years.
In summary desperate straw clutching. They could offer everyone a year of no income tax and they’d probably still get voted out of government.
In all my life, I have never been able to reconcile the Tories fetish for "everything cheap" with their personal clothing/motoring/lifesyle choices
Their demented insistance on headline cost for literally everything in the Public Sector is not reflected in their personal choices.
One would reasonably expect to see your average Tory MP clad in Primark Active Sportswear instead of a well cut Saville Row suit and be driving a beat up Skoda will bald tyres and a "Tax in Post" note in the windscreen rather than their svelte Range Rover deluxe.....if they actually believed their own doctrine that "Cheapest is Best"
The damage their flawed policies have wrought over the last 14 years will be very difficult to remedy
If they can be remedied at all
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This weeks Budget give away/bribe on 10:56 - Mar 4 with 2202 views
This weeks Budget give away/bribe on 10:17 - Mar 4 by Aviator
NI should definitely be merged with income tax. Pensioners should pay tax on their pensions, but at a lower rate when over 67.
Pensioners do pay tax on their pensions. From this year, the vast majority of pensioners will be paying income tax, even those largely dependent on the pitifully low state pension.
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This weeks Budget give away/bribe on 11:09 - Mar 4 with 2140 views
This weeks Budget give away/bribe on 10:39 - Mar 4 by BlueBadger
65p? That's two whole meals AND one dessert, according to studies conducted by the Anderson School of Nutrition.
But if the loud narrative starts to be that the Tories have cut taxes then it could well become a ‘tabloid fact’ that the Tories are the party for the ordinary man on the street. It what happened with Brexit - tell a lie often and it becomes a truth quite quickly.
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This weeks Budget give away/bribe on 11:16 - Mar 4 with 2087 views
This weeks Budget give away/bribe on 10:53 - Mar 4 by EdwardStone
In all my life, I have never been able to reconcile the Tories fetish for "everything cheap" with their personal clothing/motoring/lifesyle choices
Their demented insistance on headline cost for literally everything in the Public Sector is not reflected in their personal choices.
One would reasonably expect to see your average Tory MP clad in Primark Active Sportswear instead of a well cut Saville Row suit and be driving a beat up Skoda will bald tyres and a "Tax in Post" note in the windscreen rather than their svelte Range Rover deluxe.....if they actually believed their own doctrine that "Cheapest is Best"
The damage their flawed policies have wrought over the last 14 years will be very difficult to remedy
If they can be remedied at all
They personally like expensive things, but they just want other people to pay for them. Knowing the price of everything and value of nothing springs to mind...
The bigest problem with a major review of UK taxation is the sheer size of the problem. A vast, convoluted and tangled edifice which has grown up organically over several centuries. A truly Gordian Knot, but resistant to simple cutting through, given the country can't function without a working revenue system (whatever the libertarian ideologues might say).
There are so many layers of exclusions, exeptions and conditional factors which would need to be incorporated, in order to make a new system "fair". That's without tackling the deliate balance between sales, import and income tax methods.
It would take many years and a lot of money to work through.
This weeks Budget give away/bribe on 10:56 - Mar 4 by Freddies_Ears
Pensioners do pay tax on their pensions. From this year, the vast majority of pensioners will be paying income tax, even those largely dependent on the pitifully low state pension.
They don’t pay NI though. For no good reason
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This weeks Budget give away/bribe on 16:31 - Mar 4 with 1689 views
This weeks Budget give away/bribe on 10:08 - Mar 4 by Freddies_Ears
Merging NI & income tax would need careful planning. You could take the simple route, and just combine the existing regimes, calling it income tax, but that would increase the tax rate on most pensioners from 20% to 29(?)%, which would be pretty severe. There are additional complexities from NI being charged differently according to employment status, etc.
I agree, reform is needed (though the mess that is Council Tax is even more important). In a sense it is already happening, as the reduction in NI (benefitting workers) is more than offset by a freezing in income tax bands (costing workers + most pensioners) .
This morning on the tellybox they talked about the cost of a penny off NI (4.5BN) or off Tax (7Bn)
Reckon that means to clear NI would cost 45BN and then need 6p on base rate.
Tax paying pensioners would be the big losers here as they don't pay NI.
This weeks Budget give away/bribe on 14:17 - Mar 4 by Guthrum
The bigest problem with a major review of UK taxation is the sheer size of the problem. A vast, convoluted and tangled edifice which has grown up organically over several centuries. A truly Gordian Knot, but resistant to simple cutting through, given the country can't function without a working revenue system (whatever the libertarian ideologues might say).
There are so many layers of exclusions, exeptions and conditional factors which would need to be incorporated, in order to make a new system "fair". That's without tackling the deliate balance between sales, import and income tax methods.
It would take many years and a lot of money to work through.
In all my years in TWTD, I have never agreed with a point more.
All these adjustments just build on top of one another so even the best economists and accountants couldn't unravel it all for a fair, one-size fits all solution. I do wish the government would actual encourage and invest in the public sector so we can at least address these problems. From the face of it, as others have noted, it's just cheap spin and 'bribes'.
Even when you look at something like IndyRef2 in Scotland, it's a chance to create something fair whilst tackling investment and changing the system but alas, no dice.
Looking forward to my additional IT banding and bs tax rate.
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This weeks Budget give away/bribe on 17:03 - Mar 4 with 1603 views
This weeks Budget give away/bribe on 10:04 - Mar 4 by NthQldITFC
Many of us 'in the middle' need to be serious and selfless enough to ask ourselves "do I want a nice little bonus to enable me and my family to enjoy a few more luxuries and trips etc., or would I rather pay a little more tax to enable the very fabric of our country to hold together?" The latter isn't even an entirely selfless attitude; we all live within that fabric and depend upon it for our safety.
I don't want any tax cuts for myself.
It's not those "in the middle" who are the problem though is it? It's the super wealthy and the multinationals who are not paying their share!
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This weeks Budget give away/bribe on 18:23 - Mar 4 with 1535 views
This weeks Budget give away/bribe on 10:35 - Mar 4 by SuperKieranMcKenna
As I posted the other day, research from the Tony Blair Institute (yeah I know!) suggest people don’t want tax cuts. I think the realisation you get what you pay for has finally hit home. All very well saving 5p a week on NI, but it’s not much consolation when you are waiting for a life saving operation on the NHS.
The other thing is there’s no such thing as a free lunch - the income tax bands are still frozen so that’s a tax increase, especially given the inflationary environment for the last couple of years.
In summary desperate straw clutching. They could offer everyone a year of no income tax and they’d probably still get voted out of government.
People habitually say in surveys that higher taxes to fund better public services is a good idea, but they never vote in an Opposition which promises to do exactly that. The bottom line is that they usually think someone else should pay more tax - non doms, hiugher rate taxpayers, big businesses etc.
This weeks Budget give away/bribe on 10:04 - Mar 4 by NthQldITFC
Many of us 'in the middle' need to be serious and selfless enough to ask ourselves "do I want a nice little bonus to enable me and my family to enjoy a few more luxuries and trips etc., or would I rather pay a little more tax to enable the very fabric of our country to hold together?" The latter isn't even an entirely selfless attitude; we all live within that fabric and depend upon it for our safety.
I don't want any tax cuts for myself.
I've been saying this for years. We all moan about public services and the state of state owned infrastructure in this country, but when it comes to paying just a little bit extra taxation we throw our hands in the air.
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This weeks Budget give away/bribe on 18:54 - Mar 4 with 1456 views
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