Fantasy Chancellor Game

[Protagoras]

Ahead of the budget, anyone fancy a game of fantasy chancellor ...

Here’s my top 10, thereby avoiding the more radical ones!

1. Scrap IR35, off-payroll, loan-charge. Cancel all current witch-hunts. Regulate umbrella companies.
2. Nationalise water, gas, electricity, ports, railways
3. Scrap council tax, to be replaced with a land value tax. Owners in hiding must register or property becomes forfeit in 3 years.
4. Personal tax-free fuel allowance of 600 litres p.a. after which tax is levied at a higher rate than currently. Not available to people who own or live in a property in a city postcode. Claim would be via tax return.
5. Commit to scrapping NI, with income taxed at a higher rate. Adjust personal allowance to £20k p.a. and tax bands / rates as necessary so that this is cost neutral overall
6. UK property – owner pays 5% of property value p.a. as tax unless occupying property. Also, a windfall tax – owners have benefited hugely from low interest rates and have acquired windfall wealth not associated with improving the assets. Annual tax payment from property owners to reflect this.
7. Incentives for on-shore manufacturing, we need to bring value-add processes back and cease dependency on overseas provision
8. Increase annual tax-free pension allowance to £100k. Scrap the life-time allowance, pensioners will pay more tax since there’s no avoided NI.
9. Banks will be required to pay depositors at least the BoE base rate.
10. Non-unionised workers to be entitled to receive from their employers / clients an annual wage / rate rise in line with that enjoyed by unionised labour. This would also apply to contract workers' rates.

In the best traditions of modern governance, this is, of course un-costed ;-)

[SueEllen]

10. happens anyway. If you aren't in a union but your employer recognises a union that covers your role, the union can negotiate things like terms and conditions for you.

[Mordac]

Ahead of the budget, anyone fancy a game of fantasy chancellor ...

Here’s my top 10, thereby avoiding the more radical ones!

1. Scrap IR35, off-payroll, loan-charge. Cancel all current witch-hunts. Regulate umbrella companies.
2. Nationalise water, gas, electricity, ports, railways
3. Scrap council tax, to be replaced with a land value tax. Owners in hiding must register or property becomes forfeit in 3 years.
4. Personal tax-free fuel allowance of 600 litres p.a. after which tax is levied at a higher rate than currently. Not available to people who own or live in a property in a city postcode. Claim would be via tax return.
5. Commit to scrapping NI, with income taxed at a higher rate. Adjust personal allowance to £20k p.a. and tax bands / rates as necessary so that this is cost neutral overall
6. UK property – owner pays 5% of property value p.a. as tax unless occupying property. Also, a windfall tax – owners have benefited hugely from low interest rates and have acquired windfall wealth not associated with improving the assets. Annual tax payment from property owners to reflect this.
7. Incentives for on-shore manufacturing, we need to bring value-add processes back and cease dependency on overseas provision
8. Increase annual tax-free pension allowance to £100k. Scrap the life-time allowance, pensioners will pay more tax since there’s no avoided NI.
9. Banks will be required to pay depositors at least the BoE base rate.
10. Non-unionised workers to be entitled to receive from their employers / clients an annual wage / rate rise in line with that enjoyed by unionised labour. This would also apply to contract workers' rates.

In the best traditions of modern governance, this is, of course un-costed ;-)

You sound like the third Corbyn brother, who's even more batsh!t crazy than the other two...

[AtW]

Next year (when Labour gets a landslide) will have brutal tax increases

[WTFH]

You sound like the third Corbyn brother, who's even more batsh!t crazy than the other two...

What specifically offends you about it, and what would you propose is a better way to fix the country which has been broken by right wing governments over the last decade and more.

[AtW]

a better way to fix the country which has been broken by right wing governments over the last decade and more.

It was broken well before by successive Govts.

[WTFH]

It was broken well before by successive Govts.

Which doesn’t answer my question: what is specifically wrong with the suggestions, and what would you propose as a better solution?

[SueEllen]

You sound like the third Corbyn brother, who's even more batsh!t crazy than the other two...

No one beats Piers.

[vetran]

WTC i.e. subsidising the multinationals
Massive EU migration
GP contract
mortgaging the hospitals

were all Tory?

who knew?

[AtW]

Which doesn’t answer my question: what is specifically wrong with the suggestions, and what would you propose as a better solution?

My suggestion will be is to get real and stop living in a fantasy that something can be changed politically (especially major changes in the tax system) in the UK, at least until such time the current anti-democratic two-party system collapses, which in my view will only happen when Scotland becomes independent.

P.S. Truss gave it a minor go and that cost her job straight away.