Mini Budget aka Fiscal Statement

[eek]

Also why are so many people mumbling on about millionaires being better off etc. Hard working people whilst they may earn more, contribute far more already. Do some people not understand a percentage still means you pay more if you earn more?? I find it utterly absurd already that people earning a good wage have to pay a higher bracket and some want these people to pay an even higher bracket. I do believe in trickle down economics to an extent, the better off i am, the more i pay local people to do the jobs i can afford to pay them that i don't have time or need to do.

Lets see a simple example...

"millionaire" £200,000 Contributes roughly £83,000/year Tax/NI

low paid worker £20,000 Contributes roughly £2500/year Tax/NI

So a single person on 200k contributes 33 times more tax and NI over a low paid worker. How much more should we tax them and 'teach them a lesson' for being so rich before they are deincentivised move abroad or just avert to 'tax efficient' routes. Highly likely the well paid also has zero reliance on government handouts and already contributes finacially to the local economy.


My only gripe currently is with the lack of recognition to NHS. They were praised and applauded during the Covid pandemic and now forgotten again. Shameful.

The millionaire can afford to contribute more....

And if you think live is hard for "millionaires" now wait until after the current crisis when the Government needs to satisfy the IMF and generate a balanced budget....

[SueEllen]

So a single person on 200k contributes 33 times more tax and NI over a low paid worker. How much more should we tax them and 'teach them a lesson' for being so rich before they are deincentivised move abroad or just avert to 'tax efficient' routes. Highly likely the well paid also has zero reliance on government handouts and already contributes finacially to the local economy.

If they want to live abroad they would have gone already. Many skilled people in STEM areas have already and it is always brought up every time tax increases are mentioned for the better off.

It's in your interests as a very rich person not to be surrounded by very poor people unless you want to live in a country like South Africa.

[cojak]

The millionaire can afford to contribute more....

And if you think live is hard for "millionaires" now wait until after the current crisis when the Government needs to satisfy the IMF and generate a balanced budget....

Personally, I think that this whole thing is going to end up being a massive tulipshow of a flaming car crash bouncing off a children’s marching band, rolling down a hill though a garage forecourt and ending in a petting zoo….

[eek]

Personally, I think that this whole thing is going to end up being a massive tulipshow of a flaming car crash bouncing off a children’s marching band, rolling down a hill though a garage forecourt and ending in a petting zoo….

Which bit - the budget as a whole (I've seen texts from 2 different banks saying the Government now has zero economic credibility due to the statement regarding trickle down economics - both were actually OK with the budget it's that statement everyone hated) or the IR35 bit?

I wasn't kidding when I said on Friday my plan is to start a contractor accountancy firm....

[cojak]

Which bit - the budget as a whole (I've seen texts from 2 different banks saying the Government now has zero economic credibility due to the statement regarding trickle down economics - both were actually OK with the budget it's that statement everyone hated) or the IR35 bit?

I wasn't kidding when I said on Friday my plan is to start a contractor accountancy firm....

The budget as a whole, I can’t see the IR35 bit sticking because of the bonfire that the budget is going to generate - no growth, NHS turning private and the UK turning into another Greece.

[sadkingbilly]

[eek]

The budget as a whole, I can’t see the IR35 bit sticking because of the bonfire that it’s going to generate - no growth, NHS turning private and the UK turning into another Greece.

The IR35 bit is about the only bit I see sticking - the current scheme isn't working so going back to the old rules and then trying to find a proper fix actually makes a bit of sense....

[Whorty]

Just think though, it could be worse, Labour could be in charge ....

[WTFH]

Am I being too cynical to say that I'm not convinced they will stick to that statement?

It was just a PR exercise to say "hey look, we're doing something", then judge the reaction, but come budget time things might change.
Also, given the murmurs in the Tory press, it appears that Liz could end up being the shortest serving PM - we could have a different one by Christmas.

[SueEllen]

Just think though, it could be worse, Labour could be in charge ....

But Comrade Corbyn....


https://www.independent.co.uk/news/u...-b2175295.html