Spring budget - what tax to cut?

[malvolio]

[QUOTE=Smartie;n4286020]

The IFS disagree with you: https://ifs.org.uk/articles/health-s...ing-top-likely /[quote]
...compared to this year. If you hink any plans for this year and next will lsurvive the election, then you haven't been paying attention.

They have enough money - they don't/can't/won't spend it properly.

[PerfectStorm]

God, I used to watch these religiously. Didn't even tune in today. Since they started sticking two fingers up at the self employed a few years ago, I know better.

[lucyclarityumbrella]

God, I used to watch these religiously. Didn't even tune in today.

You have not missed anything!

[vetran]

The IFS disagree with you: https://ifs.org.uk/articles/health-s...ing-top-likely

High inflation has more than a short term impact on budgets where it is not compensated for, much like a below inflation pay rise will affect all your pay rises in the future.

Finally, given we have currently have population growth of over half a million people per year, that budget needs to increase if the per/head value is to be maintained.

I have a Doctors appointment and the blurb that comes with it suggests that the usual 20 minute late, 10 minute appointment if missed costs the NHS >£200. Strangely I can get an appointment privately on time for £49-89 one assumes they are making a profit on that? When my relative had cancer he paid to get the same doctor privately to miss the 3 month wait for treatment.

The past 30 years business having being using technology to become more efficient that seems to have passed the NHS by. Companies I have worked for have outsourced transcription services & manufacturing to low cost countries without a hitch. Now we have AI we could do so many more tests as well if not better than we do with human testers.

Sadly the GDP per capita has fallen because many of the new population work for low wages so multinationals can pay fewer local taxes. Many higher rate tax payers on average contribute more than they use. Lower rate tax payers on benefits frequently don't

[lucyclarityumbrella]

In case anyone want to check out the red book https://www.gov.uk/government/public...ng-budget-2024

[some guy some where]

The changes to child benefit seem pretty dumb - its going to encourage people to be less productive not more 60-120k looks very tax-heavy for those with children (especially with high-rate kicking in at 50k and the cut-off for tax-free and 30 hours free childcare at 100k) - either want to earn less than 60k or more than 120k - think most will reduce hours or put money into pensions - which will hurt the economy. Working hard continues to be punished - especially for parents.

[sreed]

Where Hunt conjured up the cash for the tax cuts -
- Vape tax
- Tobacco duty up
- Higher APD on non-economy flights
- Pinocchio income of 4.5bn from something something "tougher on tax avoidance" something something
- Abolish holiday lets tax regime
- Abolish multi dwellings stamp duty discount
- 4p reduction in CGT on property (will bring in more income as per OBR)
- North Sea windfall tax extended
- Non-doms abolished

[eek]

The changes to child benefit seem pretty dumb - its going to encourage people to be less productive not more 60-120k looks very tax-heavy for those with children (especially with high-rate kicking in at 50k and the cut-off for tax-free and 30 hours free childcare at 100k) - either want to earn less than 60k or more than 120k - think most will reduce hours or put money into pensions - which will hurt the economy. Working hard continues to be punished - especially for parents.

Kicking in at £60k means it impacts fewer families ideally it would be binned but a higher starting point and taper at 10% rather than 20% is a vast improvement on what was there before

[sreed]

The changes to child benefit seem pretty dumb - its going to encourage people to be less productive not more 60-120k looks very tax-heavy for those with children (especially with high-rate kicking in at 50k and the cut-off for tax-free and 30 hours free childcare at 100k) - either want to earn less than 60k or more than 120k - think most will reduce hours or put money into pensions - which will hurt the economy. Working hard continues to be punished - especially for parents.

I agree that the way Osborne designed CB clawback is dumb and unfair, especially to single income households with kids. But even so, raising the clawback threshold from 50k to 60k and stretching the taper from 10k (50-60k) to 20k (60-80k) is surely better than what it was and reduces the effective marginal tax rate for taxpayers with kids in the income bracket 50-80k.

Plus, he's promised that HMRC will work on considering household income instead of individual income BUT this comes with the sting in the tail that this involved formally giving HMRC permission to collect household level information for the first time ever.

[sreed]

Finally, given we have currently have population growth of over half a million people per year, that budget needs to increase if the per/head value is to be maintained.

Worry not, Hunt and Mr Infosys are on the case.

They’re promising to ‘invest’ in the NHS IT systems to make them the “best in the world” which will apparently increase productivity by 5% and release £20b in cash. Lots of extra UK taxpayer dosh for the likes of Mr Nayaran Moorthee. Hopefully we’ll get some contracts out of it as well!

If you ask me, I’d settle for them to get NHS IT to a barely adequate level first!