Budget 2021: Million more set to pay income tax by 2026
03/03/2021
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People who get a pay rise between this April and 2026 may find themselves paying a higher rate of tax.
We have a large bill to pay, there will have to be some tax increases to cover this
Taxing the big tech companies should have been the first move.
An online sales surcharge (5%?) should reduce the likes of Amazon's competitive advantage and benefit the exchequer and all of us
An online sales surcharge (5%?) should reduce the likes of Amazon's competitive advantage and benefit the exchequer and all of us
Get rid of all border restrictions; that way we can stop propping up the travel sector and start reaping the benefits of taxing them instead.
£400 Billion to cover up a self inflicted wound.
What really upsets me is ten years of 'prudent austerity' were thrown away in one day, when they flipped from the planned pandemic response to one the CCP followed.
And have been throwing away more money ever since, rather than admit that mistake.
What really upsets me is ten years of 'prudent austerity' were thrown away in one day, when they flipped from the planned pandemic response to one the CCP followed.
And have been throwing away more money ever since, rather than admit that mistake.
I would say most people have come out relatively unscathed, could be a lot worse
It's a good thing that taxes are rising and it is inevitable to pay for the support during the pandemic but as always it's directed at the wrong people.
The rich keep getting richer; the poor man always pays.
The rich keep getting richer; the poor man always pays.
This is just the beginning. This budget sees our debt rise to 97% of GDP by 2026.
Come out of where? The government instruction is still "stay home"
I’d say that a £22k tax hit on my pension pot is enough for round 1
At the end of the day, if you are lucky enough to receive a pay rise that takes you into the next tax bracket, you only pay the higher rate on the amount you earn above the threshold. So yes, you pay a higher rate on that amount, but your net take home pay has still increased. That is more than can be said for many public sector workers who have pay frozen.
A high tax, big government approach will just add to the damage done by lockdown. We are in for a long, deep recession.
This is a kick the can down the road budget.
This is a kick the can down the road budget.
Until private companies freeze pay rises to compensate for the increase.
not those that earn £12570 a year .... its an attack on the poorest when you freeze the 20% rate , when you know over the 5 year period there will be at least 15% inflation erosion. Levrlling Down in action .. Levelling up if you are doing a handstand. RED WALL remember what they have done to you in 2024.
Err, personal allowance affects every tax payer.
Except for the young, zero-hours workers and the low-paid, who are screwed as per usual. The wealthy, middle-class, middle-aged and white-collar workers in general are indeed relatively unscathed. Sorry to burst your bubble.
I do not agree totally with that, I think government has to take a step back and look at where they targeted their help and explain the reasoning, whilst also explaining why the poorest in society had the least help, why some disabled and sick people still have benefits frozen after switching benefits years ago, I know the economy is important yet we do not see the boost in social housing we need
Sunak, the Fiscal Drag Artist has put the public sector back on a two year pay freeze just two years after the five year pay freeze ended.
What do you expect, someone's got to pay for the helping hand-outs...
I know a person who doesn't work and gets all her rent and council tax paid. Total £900. Then she gets her universal credit money........ then she gets a sleeve tattoo, new phone and A year old car. I've just lost my job after working 43 years , I get .... all.
I literally can not fathom how anyone could possibly be surprised by this.
Gov have bankrupted country.
Furlough has been far too generous and open to abuse. Billions have been wasted.
Furlough should have only been offered to businesses where we could get a return on our investment.
It will take generations to pay this back.
Boris just wants to be popular and will spend, spend, spend leaving someone else to sort his mess out.
Furlough has been far too generous and open to abuse. Billions have been wasted.
Furlough should have only been offered to businesses where we could get a return on our investment.
It will take generations to pay this back.
Boris just wants to be popular and will spend, spend, spend leaving someone else to sort his mess out.
Indeed. I predict more: NI contributions for pensioners. I'd like to know if they will freeze the lower earnings limit and upper earnings limit. I'd also like to know if the cap on redundancy payments of £538 per week is going to be frozen. I'd also like to know if they intend raising state pension age again. I've worked for 40 years and will never be able to afford to retire. Fab. Just fab.
"It could have been a lot worse to be fair."
It will be! Brexit will cost way more than Covid and that's just started!
It will be! Brexit will cost way more than Covid and that's just started!
The money has to be paid back at some point in time. This is a relatively pain-free method.
Its pain free for high earners, as they will just find ways of avoiding tax. Nothing in Budget about getting Amazon, Apple, Facebook, Google etc. to pay a fair tax bill. Nothing to prevent more CEO's and companies offshoring to avoid tax. That would have raised much more...but let's not upset our friends Boris!
Somebody has to pay for all the corrupt dodgy PPE contracts handed out to the cronies. Of course it has to be those just making ends meet, not the super rich or those who have had a windfall during COVID. Welcome to Tory Britain. Great way to pay back the borrowed vote from the traditional red wall.
Add this crippling council tax rises around the 7% mark and Johnny Average ends up much worse off while the Tories and their Cronies are having a ball.
"The Budget documents show this hits middle to higher income earners the hardest."
Why not read the article before posting?
Why not read the article before posting?
There has to be some kind of enquiry into the COVID services-contracts-for-chums wheeze. And we need to start getting the money repaid.
Anyone who thought that all the furlough money etc was a free gift need a reality check. Doesn't sound too bad to me.
The Tory bots got on here quick. Almost as if they were expecting this HYS thread to appear....
Removed
Furlough was a free gift to some(often in addition to their income), but an expensive tax hike for many
its not the furlough, its the fantastic sums of money wasted on dodgy deals with dodgy PPE, on apps that never worked by people who've never worked in those respective industries, but friends of MP's doing quite nicely thank you.
The ones who piss me off, are the ones who took advantage of every grant and continued to work. Breaking all the rules and just taking advantage of PAYE people. These people avoid paying tax, then complain they can’t get all the covid relief because they haven’t registered enough income to benefit. If they had declared their actual earnings, they would have been supported, but they didn’t. f them.
Of course it wasn't. It was the non tendered government contracts that were a free gift.
Good stuff. They get to use the same services as everyone else. Why shouldn't they pay a little towards them?
The poor man in the UK doesn't pay enough to cover his use of services and benefits - they are net takers, not net payers.
The people who say that typically never had to pay the higher rate of tax.
What you write is not true. If it were the poor would become poorer and would be driven into abject poverty. What actually happens is that the rich get richer and the poor do too. Differences always apply everywhere and people pass on wealth and habits.
They are increasing corporation tax for firms who make profits over £250k so that is progressive taxation aimed at richer companies, bringing in an additional 6p tax for every £1 profit made over the threshold compared to those companies below the threshold
Exactly. Those with the least will be dragged into the income tax fold. Usual Tories. Look after our tax havens, let the PLEBS pay.
I think the opticians are now open, so you can get a better pair of glasses.
How do you make that out, we have a progressive tax system which means the more you earn the more you pay in tax. It’s more the other way round which is quite right, with the poorest paying nothing in direct taxes. All other taxes are higher for the richest, for example stamp duty is step and you pay a higher percentage the more you pay for a house
Go on then: How is a 30% hike in corporation tax aimed at "the poor"?
How much corporation tax did the average wage earner pay last year?
Me?
Back of a tax bill calculation says I'll be losing at least £160 a week in 2026 without taking other factors such as a freeze on tax thresholds into account & NO, I'm not "rich".
How much corporation tax did the average wage earner pay last year?
Me?
Back of a tax bill calculation says I'll be losing at least £160 a week in 2026 without taking other factors such as a freeze on tax thresholds into account & NO, I'm not "rich".
And the biggest tax rise is .........? Corporation tax on larger companies. And the only way the poor can pay extra tax is if they don't pay any now, there's nothing else in the budget that affects them adversely
The poor don't pay their way. They don't pay their share and they don't pay their way. Divide the cost of the NHS by taxpayers and see if the poor are paying their share. Try that with education and everything else. The rich pay their way and the way of everyone else, the poor benefit from the taxes the rich pay. Now I'm not saying that is bad but it is the fact of the matter.
But it's most the poor who have received the help. Why should the better-off stand the cost?
Always a difficult balance. Rich people pay most of the tax burden already. Increases in tax rates at the top end do not always lead to higher tax receipts as people reorganise their affairs and in many cases simply move somewhere else.
zero evidence for that. Corp tax rising further debunks your claim.
The UK is full of Tory lemmings, in the truest sense of the word.
Somebody has to pay for all the corrupt dodgy PPE contracts handed out to the cronies. Of course it has to be those just making ends meet, not the super rich or those who have had a windfall during COVID. Welcome to Tory Britain. Great way to pay back the borrowed vote from the traditional red wall.
The Conservatives MUST be sure to act against the a avoiders
off shore accounts
current cost accounting
fiscal year rip offs
money movements
you name it the Tories must act and act very soon
if they don't many of us will STILL and remain losers - thanks a bunch
off shore accounts
current cost accounting
fiscal year rip offs
money movements
you name it the Tories must act and act very soon
if they don't many of us will STILL and remain losers - thanks a bunch
Unfortunately, most in this country have lost the "keep calm and carry on" attitude. Spineless ^ controlled by fear is the common man in the UK currently.
They will moan, whine & groan about everything, but whenever something is asked of them personally they recoil. To think, the silly little sheep think their unearned vote matters at all. Universal sufferage wouldn't exist if it created change.
They will moan, whine & groan about everything, but whenever something is asked of them personally they recoil. To think, the silly little sheep think their unearned vote matters at all. Universal sufferage wouldn't exist if it created change.
Deaths & hospitalisations will go up immediately.
I'm struggling to understand how you chose your username:
Irony or satire?
I'm struggling to understand how you chose your username:
Irony or satire?
Our great grandchildrens great grand children will just about pay all off this off.
This is a shameless scare story.
Headlines and phrases such as “tax shock” used by the BBC in this and other articles about the budget are abhorrent fear-mongering.
The way it’s worded people will think they’ll be paying 40% on ALL their income if they break the £50k threshold... not just the portion above the allowance.
It’s lazy, it’s misleading, and I’m calling you out on it...
Headlines and phrases such as “tax shock” used by the BBC in this and other articles about the budget are abhorrent fear-mongering.
The way it’s worded people will think they’ll be paying 40% on ALL their income if they break the £50k threshold... not just the portion above the allowance.
It’s lazy, it’s misleading, and I’m calling you out on it...
I didn't read it that way, it seems clear that once you reach the threshold you pay the higher rate. It is another stealth tax, something the tories are very good at.
The BBC hate anything conservative. They are liberal to the core. If my mate the chancellor said you can all have a million quid for free the BBC would say "giveaway doesn't go far enough"
You beat me to it. Its atrocious and designed to incite a reaction. Appalling from the BBC
BBC use quotation marks to emphasise there "story" hence "tax shock".
You know the BBC, always wanting to scare the sheep! Just look at the COVID news on the BBC!
They made the mistake of thinking people in the uk know how things like paye work. Sadly this is not the case for much of the population.
Absolutely right. I agree 100%. Yet another example of the BBC & it's left wing leaning
If you are stupid enough to think that .... then you're not close enough to the 50K threshold for it to concern you !!!
People project their own mindset to things, those accusing the BBC of bias or having an agenda are usually the ones with their own agenda.
Anyone who earns over 50k should know how tax thresholds work. I despair for their employer otherwise
I’m afraid your HYS name betrays where your loyalties are, and anything the Chancellor said would have been supported by you. The IFS have identified tax across the economy is going to be at the highest lever... ever. That seems newsworthy to me.
the BBC are right and it should be more vicious.
In one months time the market - BT broadband internet , water and Energy, Council are putting prices up bt 4.5% and more!
In 5 years time the £12570 tax point for 20% has been given to 1 million more levelled down people. In real terms they will now pay tax @ £10684 ....The USA leads the way with Min wage set to £11.68 by 2024 ..class war is raging
In one months time the market - BT broadband internet , water and Energy, Council are putting prices up bt 4.5% and more!
In 5 years time the £12570 tax point for 20% has been given to 1 million more levelled down people. In real terms they will now pay tax @ £10684 ....The USA leads the way with Min wage set to £11.68 by 2024 ..class war is raging
I guess it depends on whether you understand the tax system or not. It's not that hard.
Totally agree. But before panicking please do your tax calcs lots online widely available
If you reach threshold you will pay 40% tax on earnings over that amount. Under the 40% threshold you will just pay 20%.
I am proud to pay 40% I wish I earnt enough to pay 50%!
I have worked vv hard & will pay tax on why I earn. But I am surprised Surely 40% should have become 42%+ today!
If you reach threshold you will pay 40% tax on earnings over that amount. Under the 40% threshold you will just pay 20%.
I am proud to pay 40% I wish I earnt enough to pay 50%!
I have worked vv hard & will pay tax on why I earn. But I am surprised Surely 40% should have become 42%+ today!
I’ll tell you what’s lazy. Anybody who believes what you are suggesting - that they might pay 40% on all of their earnings.
It’s difficult to imagine anybody who earning close to £50K being so dim as to think that, or to think that others might be led to think that.
So I’m inclined to think that you are not earning close to £50K
It’s difficult to imagine anybody who earning close to £50K being so dim as to think that, or to think that others might be led to think that.
So I’m inclined to think that you are not earning close to £50K
Normal for the BBC, and taxing the super rich should be the priority
No it is you who are lazy in the wilful misrepresentation of the reporting. Most people understand how marginal tax rates work so stop patronising and treating them like fools just because the facts don't fit your particular agenda.
By freezing personal allowance for 5 years it's worse than a tax rise. Don't ignore facts.
Why not adjust people who've been furloughed so their tax code contributes more. As a key worker I've been working every single day of the pandemic, and while I am grateful for this, I'm then expected to pay for people who've done nothing for a year?
That would likely hit the lowest earners hardest, as those on furlough include the likes of bar staff and retail workers
A rather self centred comment.
As a key worker who has worked throughout this pandemic I am happy the furlough scheme has kept many businesses from going under so that they are there post lockdown to start up again and contribute to the tax take.
As a key worker who has worked throughout this pandemic I am happy the furlough scheme has kept many businesses from going under so that they are there post lockdown to start up again and contribute to the tax take.
The people who were furloughed had no choice, and in many cases had big cuts in their pay and pension and worries about losing their incomes all together at the same time as still paying tax, but yeah, let's make them pay again for it.
How would that be though? They will be getting 80% from Gov and 20% from employers so they should be receiving same take home pay each month therefore will be having to contribute as the rest of us myself included who like yourself we are key workers & have never stopped since last March when all this began
I do hope so though it’s only right those who have been furloughed pay their fair share
I do hope so though it’s only right those who have been furloughed pay their fair share
Would you still write this statement if you where furloughed. And would u adjust your tax code accordingly.
It's only students who we ask for the money back from. And with a ridiculously high rate of interest.
I am not someone with a student loan by the way, but I like to call out unfairness when i see it.
I am not someone with a student loan by the way, but I like to call out unfairness when i see it.
You were paid 100%, these people are paid 80% through no fault of their own. Stop being a hater
I haven't visited a GP or hospital in over 20 years. In fact I had to re-register so I can get the vaccine. Can I get a special tax code to reflect my non-usage of funds?
I haven't required assistance from the police, ever. Can I get a refund on that?
I haven't needed the fire brigade. Another refund please.
That's now how it works. We all pay in for the good of everyone in case we need it back
I haven't required assistance from the police, ever. Can I get a refund on that?
I haven't needed the fire brigade. Another refund please.
That's now how it works. We all pay in for the good of everyone in case we need it back
Have u ever thought that we didn't want to be sat doing nothing? I'm an exec chef for a restaurant group, what am I to do. I want nothing more than to be back on my full salary, my bills rose and my income fell. Plus the affect on my MH has been overlooked by everyone saying we have had it easy on furlough. I would have gladly worked over the last 12 months
Well said. I've lost my job and paid tax for 43 years. Yet cos I had a small redundancy I can't get a bean out of the government. Why should self employed get loans & grants. They should be using their savings before getting money form goverment. Self employed people are still working and getting government help.once this is over businesses will declare bankruptcy in other not to pay anything back
I have some sympathy for your view. We do have too many coffee houses, retail shops etc and a shake out was coming - especially with the new and long overdue work permit rules for immigrants. This shake out will happen after the furlough scheme ends anyway and we are just delaying it, at great cost to the state (i.e you).
Chancellor Rishi Sunak said that the threshold at which the tax starts being paid will be frozen until 2026 after a rise this April.
It means getting a pay rise could pull people into a higher rate of tax.
To be expected as someone has to pay the borrowing down.
It means getting a pay rise could pull people into a higher rate of tax.
To be expected as someone has to pay the borrowing down.
Headlines; if you earn £12.5k a year you can now earn another £70 a year tax free. If you earn £50k plus you are going to be £270 a year extra... doesn't seem at all fair to me. The 50k plus lot should get nothing extra for free and the 12.5k lot should get 340 more tax free. If you, like me earn much more than 12.5k a year, you don't need the tax break. Robbing the poor to pay the rich as usual.
So you think 50k a year is a lot? It isn't. Those on less than 12.5k got a bigger pay rise in percentage than those on over 50k. A 0.56% increase in taxable allowance for those below 12.5k and 0.54% increase for those on over 50k. Seems about fair to me!
Somebody has to pay for all the corrupt dodgy PPE contracts handed out to the cronies. Of course it has to be those just making ends meet, not the super rich or those who have had a windfall during COVID. Welcome to Tory Britain. Great way to pay back the borrowed vote from the traditional red wall.
Until they reduce benefits again - e.g. reduce UC by £20 after the Autumn.
The Conservatives MUST be sure to act against the a avoiders
off shore accounts
current cost accounting
fiscal year rip offs
money movements
you name it the Tories must act and act very soon
if they don't many of us will STILL and remain losers - thanks a bunch
off shore accounts
current cost accounting
fiscal year rip offs
money movements
you name it the Tories must act and act very soon
if they don't many of us will STILL and remain losers - thanks a bunch
Quite.
The traditional Conservative way has been low taxation, which results in public sector cuts.
I predict the usual NHS cuts over the next few years.
The clapping was an appropriate alternative.
I predict the usual NHS cuts over the next few years.
The clapping was an appropriate alternative.
Except there have never been NHS cuts, just slower increases in funding. Oh, except Labour planning to leave whole counties without NHS hospitals, but one fact is probably enough to confuse you.
sorry that is just lies put out by the daily fail and the bbc the truth if you check history not works of fiction is Tories cut taxes only for big business and the rich and well the rest just pay pay pay not only in income tax but all the other taxes that hit the poorest hardest and the richest not at all
Online sales surcharge will benefit us all?
Haven't you noticed, all of us are choosing to buy online. So all of us will be paying the surcharge. How does this benefit us?
Haven't you noticed, all of us are choosing to buy online. So all of us will be paying the surcharge. How does this benefit us?
Last year the government brought in a 2% digital tax for Amazon. This charge was passed on to all the sellers that sell on their amazon marketplace, leaving Amazon's profits unscathed. There are many small shop owners that sell on Amazon to prop up their bricks and mortar shops. Majority are currently closed. Amazon will always be one step ahead with their use of the best ACCOUNTANTS.
A surcharge that will just be passed onto customers...so just another way to tax the masses!
"An online sales surcharge (5%?) should reduce the likes of Amazon's competitive advantage"
...and cost the shielding more for their weekly shop
...and destroyed click and collect protection
...and cost 'all of us' online shoppers 5% more rather than benifitted us!
didnt think that through did you?
...and cost the shielding more for their weekly shop
...and destroyed click and collect protection
...and cost 'all of us' online shoppers 5% more rather than benifitted us!
didnt think that through did you?
Like world peace its a nice idea but wont happen. The PAYE will get stung as ever.
How do you differentiate between online sales by Amazon & those by a small, local shop trying to keep hold of customers who don't see a link to their online shop because they can't afford to pay Google to boost their page position?
Ridiculous suggestion.
Ridiculous suggestion.
Easy to say, almost impossible to do. Why do you think nobody is already foing it?
The business rates should be the same in some business park as the High Street shops. Ie by the square metre.
Rubbish. An online 5% surcharge disadvantages the purchaser and would have to be applied to all online retailers big and small.
How would a price increase of more than 5% benefit all of us? Do you honestly think that any such surcharge wouldn't be passed on to the consumers with a little bit added just because they can?
The money has to be paid back at some point in time. This is a relatively pain-free method.
A reorg of the NHS management is required. Less contractors, less PPE rip offs- buy them out with compulsory purchase.
The staff live off claps only, they don't need money apparently....
Only in the addled minds of Tory hating socialists.
Not a chance. Politically, the pandemic has given the Comservatibes the opportunity to finally spike Labour’s claim to be the only ones to protect the NHS. They will not let that go. Sad really, because the NHS as we know it is an inefficient dinosaur.
It will now stay
that way.
It will now stay
that way.
Good its unaffordable in its current construct. It should be about healing the sick not vanity projects.
So either you have a crystal ball, are member of the cabinet or are telling downright lies. The choice is obvious - and it's not one of the first two
They've already started selling the NHS to American health insurance companies.
Removed
'It means getting a pay rise could pull people into a higher rate of tax.' - This is always true. Come on BBC, you can do better.
So you agree it's factual. But you don't like the BBC stating facts.
Would you prefer non-factual news?
Would you prefer non-factual news?
Oh , drat those facts.
And the change in rate is only payable on the amount in the new bracket. By the time you reach high level tax, it should ideally be less of an issue. This isn't like the old NI threshold where you suddenly took home less by earning more, when you earned more than that threshold
You're missing the point. The tax bandings have been frozen but if you are on an incremental ply increase schedule like most with a professional/permanent job then your money may increase, even if only slightly, year on year. So while you aren't in the bracket now, you could be next year even though your pay has only increased with inflation.... that's what makes it a stealth tax
No it hasn't. The lowest paid have usually been protected by the fact that the threshold at which tax has to be paid has been similar to the increase in minimum wage.
Such a divisive headline given the progress made in the past decade of rapidly taking the lowest paid, out of paying income tax.
The pace of this overall progression is being weighed up with the wider need to continue to fund all the services and protections we benefit from.
The pace of this overall progression is being weighed up with the wider need to continue to fund all the services and protections we benefit from.
And now taking them back in again, how is reporting this fact divisive, it may not be palatable to some but nonetheless true ?
This is a shameless scare story.
Headlines and phrases such as “tax shock” used by the BBC in this and other articles about the budget are abhorrent fear-mongering.
The way it’s worded people will think they’ll be paying 40% on ALL their income if they break the £50k threshold... not just the portion above the allowance.
It’s lazy, it’s misleading, and I’m calling you out on it...
Headlines and phrases such as “tax shock” used by the BBC in this and other articles about the budget are abhorrent fear-mongering.
The way it’s worded people will think they’ll be paying 40% on ALL their income if they break the £50k threshold... not just the portion above the allowance.
It’s lazy, it’s misleading, and I’m calling you out on it...
It is misleading... And the BBC hates the tories.
...and you get to vote ??
It assuredly IS misleading & typical of the BBC's incessant, anti Tory slant given to anything they thing they can get away with.
Typical underhand socialist behaviour.
Typical underhand socialist behaviour.
This is a shameless scare story.
Headlines and phrases such as “tax shock” used by the BBC in this and other articles about the budget are abhorrent fear-mongering.
The way it’s worded people will think they’ll be paying 40% on ALL their income if they break the £50k threshold... not just the portion above the allowance.
It’s lazy, it’s misleading, and I’m calling you out on it...
Headlines and phrases such as “tax shock” used by the BBC in this and other articles about the budget are abhorrent fear-mongering.
The way it’s worded people will think they’ll be paying 40% on ALL their income if they break the £50k threshold... not just the portion above the allowance.
It’s lazy, it’s misleading, and I’m calling you out on it...
It's known as "fiscal drag" - a speciality subject of Labour Chancellors rather than Tory.
‘Stealth’??? Sunak announced the threshold freeze on TV, on the radio, in Parliament, and all the media are reporting it.
tell us all o wise one. how do we pay for the chinese flu. with facts please.
It is something all politicians are good at. It's not Tory-specific.
A bit more tax for a free NHS and vaccination yearly is a small price to pay.
We will probably need three vaccinations a year to stay immune.
At £20bn each time (out of an NHS budget of £100bn)
it won't be a little more tax!
At £20bn each time (out of an NHS budget of £100bn)
it won't be a little more tax!
I don't mind paying a bit more tax for the NHS but most of it is spent on benefits and freeloaders!
You earn more, you pay tax. The more you earn, the more tax you pay. It’s simple really, or does Keir Starmer want everything tax free?
We have a whole industry devoted to helping high earners avoid doing just that. We need a much simpler tax system
It's called inflation.
Money buys less and less.
For most, pay rises to compensate.
They should have the same standard of living
But now they have to pay some in tax.
So they end up able to buy less - poorer.
Money buys less and less.
For most, pay rises to compensate.
They should have the same standard of living
But now they have to pay some in tax.
So they end up able to buy less - poorer.
funny as its the tories who pay almost zero taxes just like the criminal companies who avoid taxes but give massive donations to tory central office and when the tax man finally catches up with them no fines no jail time just please dont do it again
Removed
How come the Tories reduced the tax rate from 45 to 40% then?
It doesn't work like that though does it? Those who earn more pay to avoid tax. Offshore accounts, even Water companies and other CEO's pay little uk tax. Amazon, Apple, Facebook, Google. Do you really think the more you earn the more tax you pay! NOT SO. Government done nothing about that and nothing about Social Care leaving many to be forced to sell property to pay for care costs.
You might think so but reality is low earners pay more as a proportion... and the rich can afford to avoid. Plenty of inbuilt loopholes for them and their ilk
Austerity between 2010 and 2015 was not necessary every economist says so now. Nothing good about it.
I agree the CCP are the root of this mess, it happened in 2013 Sars, and now!! Someone needs to man up and ask for some £££
The planned pandemic response did not envisage lots of seriously ill and highly infectious people requiring intensive care treatment.
Lockdown was definitely not a mistake.
Lockdown was definitely not a mistake.
Cancel HS2
Review overseas aid for the next 10 years
Ban tax havens and make the super rich pay their share
Tariffs or levy on low paying tax companies (apple, boots, amazon etc)
Failing that let's have a Revolution!!!
Review overseas aid for the next 10 years
Ban tax havens and make the super rich pay their share
Tariffs or levy on low paying tax companies (apple, boots, amazon etc)
Failing that let's have a Revolution!!!
Agree with all that except overseas aid. The Govt. has just cut aid to Yemen, one of the poorest and most war torn countries there is, with the result that even more children will starve to death. Awful, just awful
How do we ban Luxemburg, Ireland and The Netherlands? They are the tax havens that impact the UK (i.e. Amazon, Dell & Apple, Starbucks, etc).
Hardly a peep from the BBC when the Tories were increasing the Personal Allowance well above the inflation rate during the past decade.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
funny how you ignore the fact real workers have had almost zero pay rises for the last 10 years and now it looks like another 10 of no pay rises but plenty of inflation and council tax rises
We're all more than aware that slightly raising the PA doesn't fully compensate for rise in council tax due to less money going to councils. We're also more than aware that weakening employment rights in 2010 resulted in more fixed term/limited hour jobs and so reduced salaries in real terms.
The Tories really need a new scam. Nobody falls for indirect taxation any more.
The Tories really need a new scam. Nobody falls for indirect taxation any more.
Inflation rate is hovering around 10% in real terms, even on staple items. It has not been "close to 0%" as many at the Bank of England and treasuary would like the public to think.
There is an incomming Fiat currency crisis that no human mind can possibly comprehend. I suggest you do research on the matter and divest so you're not as reliant on debt backed pegged currencies (like GBP, USD, Euro)
There is an incomming Fiat currency crisis that no human mind can possibly comprehend. I suggest you do research on the matter and divest so you're not as reliant on debt backed pegged currencies (like GBP, USD, Euro)
Don't you remember it was a Lib Dem idea, whilst in Govt with Cameron?
But if it weren't for the dodgy PPE deals, dodgy ferry deals for companies having no ships, or apps built without even considering the Android or Apple parameters we would not have so much debt, but then not have so many happy friends of MP's who coined it in with new companies with no experience pulling multi million pound deals in just being middle men for poor Chinese PPE kit.
That’s because the Tories didn’t take power in 2010. It was a coalition and the Lib Dems insisted on these unsustainable rises.
What is your definition of real terms? Does it take into account ALL the above inflatiom rises in the costs of food, fuel, travel etc - I think not.
Funniest thing is that the big increases in personal allowances was a Lib Dem policy that they pushed through during the coalition years. The Tories didn't want to do it. After 2015 they kept it because they realised people liked it.
But the LDs get blamed for Tory policies during the coalition, while the Tories get credit for LD ones.
But the LDs get blamed for Tory policies during the coalition, while the Tories get credit for LD ones.
Can I borrow your crystal ball ? You know, the one that tells you what inflation will be four years in the future... I have some lottery numbers I would like to see.
You all moan when your not getting help even when there’s help for the next 6months until hopefully everything will be back to normal so let’s all be patient
Do it from this April pay our debts back sooner
Come on BBC, follow suit and freeze the licence fee until 2026.
You know you want to. Removed
You know you want to. Removed
Free at the point of delivery.
It's free at the point of need, pedant. ??
So how much do you pay doctor every visit? £50, £60? How much do you pay for your operation and hospital room? £3000 or maybe £30,000. Could you afford to pay for prolonged cancer treatment or major heart surgery? Do you really think your NI payments cover any of this? Because if you do you need to seek medical help
Good luck getting a pay rise let alone go up a tax bracket
Why not adjust people who've been furloughed so their tax code contributes more. As a key worker I've been working every single day of the pandemic, and while I am grateful for this, I'm then expected to pay for people who've done nothing for a year?
True, but Pineapple Blender has a point. Pensioners who also got nowt, may have to pay extra tax too. Why should those who've kept us alive & made sure food was available to buy then have to pay for those who sat it out in comfort & safety at home, albeit not through choice. No furlough cash for them if they stayed at home.
They carried us Matt, worse some of us abused them while they did it.
They carried us Matt, worse some of us abused them while they did it.
BBC. You really are vile. A great budget helping people back to normality, whilst tackling the deficit. Your focus. How the Government is stealing your money. The sooner you are cut free from the tax payer the better.
You earn more, you pay tax. The more you earn, the more tax you pay. It’s simple really, or does Keir Starmer want everything tax free?
David Cameron's Dad worked on that industry.
See where it can get you.
See where it can get you.
well said. The more money you earn the more your accountants find ways to say you money. Just look at the pro football players who set up a business and then loan themselves money which they never pay back.
A simplier fairer tax system with proper incentives for investment and also low tax rates for those earning below £30,000 a year. VAT should be reduced to 0% on ALL food, drink, sanitary & health related products (be this tampons, shampoo, toothpaste, paracetamol etc).
Set up a citizen's service so volunteers can do public work (rubbish collections, litter picking, minor road/sign repairs etc).
Set up a citizen's service so volunteers can do public work (rubbish collections, litter picking, minor road/sign repairs etc).
Great post. Personally make it a flat tax system, with no cop outs for the Amazons, Apples, Facebooks and CEO's with offshore tax havens. Flat tax and prison for those who don't pay it! The idea of an industry that assists people/companies on high earnings even AVOID tax is obscene.Make it a low flat rate of tax and prison for those not paying it!
The art of taxation is to take the maximum you can from each person without them rebelling. That’s why the tax system is complicated and what the tax management industry is tolerated - those who have the motivation to reduce their own taxes can do so as they usually still end up paying a lot of tax anyway, which is better than them moving somewhere else. This is universally understood.
"A million more set to pay income tax by 2026"
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
He needs to find £40-50billion a year! for at least 10 years!
This will find £8billion a year, assuming x amount of people work.
It'll take huge increases to find what he's spaffed away.
Watch companies relocate to Ireland, 12.5% Corporation Tax.
Companies can move, quite easily, people in the main, remain where they are.
This will find £8billion a year, assuming x amount of people work.
It'll take huge increases to find what he's spaffed away.
Watch companies relocate to Ireland, 12.5% Corporation Tax.
Companies can move, quite easily, people in the main, remain where they are.
The less well off are contributing by doing their underpaid, thankless jobs in stressful conditions, supporting the system that allowed the rich to become rich, and sit comfortably through this.
Indeed, but it would hardly be newsworthy unless the BBC could find some way to criticise it.
these 1 million did not pay tax because they are on the floor and already impoverished .. do you have a brain cell ?
It is a shame that the Tories gave a massive tax break to people earning 50k by hiking the personal allowance from 46.35k just 3 years ago. Maybe reversing that would be a little bit fairer than penalising people on low incomes as now 40% tax only paid on incomes above 50k. In the Tory world the main contributors will always be the less well off.
what for so they can waste it?
I agree. The concept of paying no tax at all is a bad one. Everyone should pay income tax, even if only a tiny amount, to make them be a member of society and value what that society gives them back.
Oh well I will be paying 20% tax but I don’t mind because it won’t be too much and I just feel it’s a fairer system right across - We are all in this together so we ALL should be contributing one way or another.
And those who can afford the most should pay the most.
Interesting that we are 'all in this together' when the government want something from me, but where is MY help when I need something from them. Fact is we are on our own, always will be.
if you think we are all in this together, think again. Those on lowest personal tax allowance might be - higher tax payers, CEO's including those of water companies etc., BBC, Amazon, Apple, Facebook etc. etc., will not pay penny more than pitiful sums they've paid. People will still be forced to sell homes to pay for social care for relatives. This country is heading in a dangerous direction.
Why not adjust people who've been furloughed so their tax code contributes more. As a key worker I've been working every single day of the pandemic, and while I am grateful for this, I'm then expected to pay for people who've done nothing for a year?
Thats because they're absolutely useless..
Come on BBC, follow suit and freeze the licence fee until 2026.
You know you want to. Removed
You know you want to. Removed
well said. The young generation tend to use netflix, youtube and prime. Give it 10 more years and noram tv service will become absolete
You earn more, you pay tax. The more you earn, the more tax you pay. It’s simple really, or does Keir Starmer want everything tax free?
Headlines; if you earn £12.5k a year you can now earn another £70 a year tax free. If you earn £50k plus you are going to be £270 a year extra... doesn't seem at all fair to me. The 50k plus lot should get nothing extra for free and the 12.5k lot should get 340 more tax free. If you, like me earn much more than 12.5k a year, you don't need the tax break. Robbing the poor to pay the rich as usual.
It may not be to some, but it's 130% of the average wage, so out of the reach of many.
So bored of people on £50k+ a year moaning it isn’t enough. Twice the median salary. Whilst I’d love more, I don’t exactly struggle on 30k.
If you’re struggling on 50k, you’ve either had too many kids or your spending priorities are wrong. Ironically something that you would probably slag off single mum and “dolee” types for.
If you’re struggling on 50k, you’ve either had too many kids or your spending priorities are wrong. Ironically something that you would probably slag off single mum and “dolee” types for.
More people should pay tax. There are far too many allowances and give aways. Well done, Mr S.
Rich people should pay more tax!
Our great grandchildrens great grand children will just about pay all off this off.
Excellent budget in current circumstances; fit for purpose and delivered honestly and openly. The glum faces of the media and opposition parties desperate to criticise said it all; Carlsberg don't do budgets but if they did....... ??
How many past budgets looked great on the day, only to look pretty poor a few months later? It was not really his fault, but Sunak's first budget disintegrated within weeks
Another Tory making excuses for a tax rise. This is the problem with modern politics. People making excuses for the lies of the party they support (including Labour). Politics has become too tribal (like supporting a football club) and people refuse to see the truth.
It's not by " stealth " as reported , he said "we're being open and honest " as he delivered it.
The Tories said they wouldn't increase taxes to pay for lockdown. They lied. It doesn't matter whether it is via the personal allowance or income tax. You are simply making excuses because you a Tory.
what utter typical pro tory lies by the bbc the richest get a hike of £269.00 in their allowances the rest get a modest increase of £70 so once again the rich getting fat from tory policies the poor just thinner and thinner as for fiscally prudent 10 years ago they stole power with £750B deficit now after a decade of austerity its up to over £2T and now on end to austerity under tory criminals
Why not adjust people who've been furloughed so their tax code contributes more. As a key worker I've been working every single day of the pandemic, and while I am grateful for this, I'm then expected to pay for people who've done nothing for a year?
Or make me pay for it again!!!! No thanks!
BIg cuts?? 80% and less tax and NI contributions and no costs of travelling etc? And large number had their pay made up to 100% , particularly in the public sector; and all were still entitled to holiday not taken during furlough Most I've spoken were laughing all the way to the bank
Such a divisive headline given the progress made in the past decade of rapidly taking the lowest paid, out of paying income tax.
The pace of this overall progression is being weighed up with the wider need to continue to fund all the services and protections we benefit from.
The pace of this overall progression is being weighed up with the wider need to continue to fund all the services and protections we benefit from.
Nonsense.
Current vaccine is around £2
Administering it through your GP is also about £2
Even if every person in the UK was vaccinated 3 times a year, it adds up to less than £1bn
Basic maths & socialism appear to be strangers.
Current vaccine is around £2
Administering it through your GP is also about £2
Even if every person in the UK was vaccinated 3 times a year, it adds up to less than £1bn
Basic maths & socialism appear to be strangers.
More than one million people are set to start paying income tax in the next five years, official forecasts say, due to a move announced in the Budget.
Is this down to the continued funding of the BBC?
Is this down to the continued funding of the BBC?
Hardly a peep from the BBC when the Tories were increasing the Personal Allowance well above the inflation rate during the past decade.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
Look squirrel!
far less than the rises under labour
No wonder when so many councils are run (or is that ruined?) by socialists.
Indeed, councils are still bloated and inefficient. Shame on them, they have failed us.
Council tax has had to go up because central government is giving less and less to local councils.
That's down to councils of whatever political persuasion; all of which seem to be very poorly run and don't give value for money
Yes. Too much government - devolved administrations, city mayors etc etc.
Get rid of it all
Get rid of it all
I still cannot understand why the 5% house deposit scheme goes up to purchases of £600,000.
If someone has a salary of £140,000pa (i.e. to fund a £600k purchase with just a 5% deposit), then why is the taxpayer expected to support them?
Surely it should be capped at the average UK house price - if people want to live in London, with all its advantages, why must the rest of the UK fund them?
If someone has a salary of £140,000pa (i.e. to fund a £600k purchase with just a 5% deposit), then why is the taxpayer expected to support them?
Surely it should be capped at the average UK house price - if people want to live in London, with all its advantages, why must the rest of the UK fund them?
This simply means a lot of people will be living in houses beyond their financial means!
To help construction companies to make more money.The tax payer in the UK is used to make business more profitable.Every time a low paid worker claims benefits you and I make up the wage.Capitalism is a huge con.
Most people buying £ 600k houses will be selling one, worth a fair amount - they are not usually on £ 140k salaries
Er, because London and the south east is about 30% of UK economy, so actually, funding themselves. 600k won't get you very much btw.
"You will own nothing, and be happy" - World Economic Forum
You have your answer. "Build back better" is another common slogan used by the internationalist types (ie: Trudeau, Boris, Biden et al). I suggest you look at the WEF's website, it is rather eye openning.
You have your answer. "Build back better" is another common slogan used by the internationalist types (ie: Trudeau, Boris, Biden et al). I suggest you look at the WEF's website, it is rather eye openning.
rubbish most salaries in london are not much higher than rest of the country but costs and taxes are much higher
that would be silly. the average house price excludes half the housing stock and are heavily skewed away from london. Not everyone who lives in london is benefitting from its advantages, teachers, nurses, plumbers etc live in the south east where the average price of a family home could be close to that threshold.
Simply because the average house price means nothing.
If you happen to be born near, say Winchester, then the house price is going to be relatively expensive maybe 400k for a ‘cheap’ 2 bedroom. If you are born in Northumberland the same property would cost maybe 100k. There are a lot of factors to consider and there are a lot more expensive areas to be born.
If you happen to be born near, say Winchester, then the house price is going to be relatively expensive maybe 400k for a ‘cheap’ 2 bedroom. If you are born in Northumberland the same property would cost maybe 100k. There are a lot of factors to consider and there are a lot more expensive areas to be born.
This is not about helping young, its about helping them to get repossessed when property bubble kept going by government policy finally hits the fan.
These schemes are not about helping people, they push up the price of property. They are about the illusion of wealth, and when interest rates increase, which they must...so many will be in negative equity.
These schemes are not about helping people, they push up the price of property. They are about the illusion of wealth, and when interest rates increase, which they must...so many will be in negative equity.
Because London pays all the taxes that subsidise the rest of the UK? Because London is the wealth generator and we want our best wealth generator to have the people it needs? Because people earning $140k pay way more tax than you ever will and this is just a small easement?
People don't necessarily choose to live in London but police, fire brigade, transport staff, council staff, pus and restaurant staff have to - do you need to me to carry on with this list. And most of those don't individually get massive salaries. Has your brain got up enough speed to understand now? Why does the tax payer have to support those who won't work would be a much better question
In a market where everything is a chain based on people moving (generally upwards) or dying, ensuring they continue to move is key to availability of housing stock. Plus £600k may purchase an amazing top end house in some areas of the north, but 2 decent two bed terrace in London can easily top that (depending on area). Are you saying the people in and around London should not be supported?
Think you’ll find it’s the economy of London funding the rest of the UK
It is shocking that anyone on minimum wage would find it hard if not impossible to get a mortgage, that is a massive problem with a low wage economy of roughly 20% of the workforce, and we assume minimum wage can rent a home it cannot not without housing benefit, housing benefit should not be needed for anyone in work it is nothing more than a way to reduce the wage bill for companies
The policy will simply increase the number of people chasing each house and push up the price. For those thinking o good my house will be worth more a house is worth a house, house price inflation is not a good thing.
Most of the big housebuilders are major donors to the Conservative party, that's why!
Because in a fractional reserve banking system you need high debt to be able to print money. Money = Debt
That’s wholly unfair, you are saying he should have foreseen the full extent of the pandemic.
Oh great idea. On top of the 25% corporation tax and not being in the EU common market, you give companies an even bigger reason to leave the country by forcing them to sell below market price.
I take it you have a nice mud hut already picked out for your life in this new Britain?
I take it you have a nice mud hut already picked out for your life in this new Britain?
Hardly a peep from the BBC when the Tories were increasing the Personal Allowance well above the inflation rate during the past decade.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
The Gov does not set the pay rises for companies, but it does set the minimum wage - in 2010 it was £5.93 and it is now £8.72 - a 47% increase by the Tories.
What the fudge is a "real" worker?
So a minimum wage increase of over 40% is almost zero, or don't those on minimum wage count as real workers.
When you say "real workers" you mean government funded (civil service). Good grief they don't even pay income tax (in accountancy terms).
Why not adjust people who've been furloughed so their tax code contributes more. As a key worker I've been working every single day of the pandemic, and while I am grateful for this, I'm then expected to pay for people who've done nothing for a year?
How would that be though? They will be getting 80% from Gov and 20% from employers so they should be receiving same take home pay each month therefore will be having to contribute as the rest of us myself included who like yourself we are key workers & have never stopped since last March when all this began
I do hope so though it’s only right those who have been furloughed pay their fair share
I do hope so though it’s only right those who have been furloughed pay their fair share
Not all companies are topping up so lots of people have taken a 20% pay cut
Most are NOT getting 20% from their employers, as their employers have no money left & are not required to pay the 20%.
I suggest all those who have received an extra £20 a week in benefits should pay it back too - I take it that's OK with you...??
I suggest all those who have received an extra £20 a week in benefits should pay it back too - I take it that's OK with you...??
Headlines; if you earn £12.5k a year you can now earn another £70 a year tax free. If you earn £50k plus you are going to be £270 a year extra... doesn't seem at all fair to me. The 50k plus lot should get nothing extra for free and the 12.5k lot should get 340 more tax free. If you, like me earn much more than 12.5k a year, you don't need the tax break. Robbing the poor to pay the rich as usual.
what utter typical pro tory lies by the bbc the richest get a hike of £269.00 in their allowances the rest get a modest increase of £70 so once again the rich getting fat from tory policies the poor just thinner and thinner as for fiscally prudent 10 years ago they stole power with £750B deficit now after a decade of austerity its up to over £2T and now on end to austerity under tory criminals
Hardly a peep from the BBC when the Tories were increasing the Personal Allowance well above the inflation rate during the past decade.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
2009 £6475
2021 £12570
Even after this freeze, the Personal Allowance will still be higher in real terms in 2025 than it was when the Tories took power in 2010.
What's the betting Rees-Mogg and his mates won't be paying more tax?
More people should pay tax. There are far too many allowances and give aways. Well done, Mr S.
Poor people should try to become rich. It's the best way out of poverty. Unless you just want everyone to be poor.
Why? Most people who earn well, have worked hard at school and at work to get where we are. What incentive is there to do well at school and get a better job if somebody else pays for your iPhone? Has to be fair
They do! Or us that concept too difficult to grasp?
ok, there are 3 tiers of PAYE
low earners pay nothing
average earners pay 20% of part
the very rich pay 40% on most
but you sit and be jealous of their perceived wealth
low earners pay nothing
average earners pay 20% of part
the very rich pay 40% on most
but you sit and be jealous of their perceived wealth
They do. That’s what % is all about.
They already do. By such a substantial margin you don't seem to grasp. So many people paying no/little tax are net beneficiaries of the system, funded by other people's earnings and tax.
Whilst those that claim that they cannot afford anything sit at home watching sky sports, accessing the internet on their iPad and messaging people on their mobile phones - all really essential isn’t it?
Many of them already do.
What about those that cant be bothered to contribute anything?
They already do - many times more in fact.
But the danger is that if you squeeze them too hard, they either emigrate or find legal loopholes to avoid paying. Either way, the Gov. raises less, not more.
But the danger is that if you squeeze them too hard, they either emigrate or find legal loopholes to avoid paying. Either way, the Gov. raises less, not more.
Currently unemployed, getting nothing from the state and have to use my own savings. At nearly 60, no chance of a job, nothing in the budget for people in the same situation as me. If I do get a job why should I pay more tax when I have taken nothing.
Maybe those who have benefitted the most should pay the most on this occasion.
Which they are.
Corporation tax increase is 30% & that reduces company profits, which hits investors
Freeze on tax thresholds is less than 10% in real terms.
Corporation tax increase is 30% & that reduces company profits, which hits investors
Freeze on tax thresholds is less than 10% in real terms.
They will, its called percentage, work it out.
Yes that's fair, also the 40% and 45% bands to bring in more from higher earners.
yeah the ones who go to university, work hard look after their money should pay more than lazy layabouts whose priority in life are fags, booze and takeaways...sounds fair
Removed
That's how taxation works. It's the greedy rich, who are able to 'avoid' tax, and the job dodgers, who work the system, that never pay their fair share.
Those who can pay more, do pay more under this system, so you'll be happy.
This systems spreads out the tax burden so that we all contribute, which is a good thing and frankly given the size of the debt, is the only possible way to erode it.
Given that the poorer in society have benefited most from the support available, its only fair that they contribute a small amount
This systems spreads out the tax burden so that we all contribute, which is a good thing and frankly given the size of the debt, is the only possible way to erode it.
Given that the poorer in society have benefited most from the support available, its only fair that they contribute a small amount
Best thing is hit the road and if you get hungry stop off at any of the Food Banks that are everywhere now. There are actually more Food Banks than Banks dealing in cash in all rural areas. They took the tax-payers money and bolted, just like greedy PFI people.
You earn more, you pay tax. The more you earn, the more tax you pay. It’s simple really, or does Keir Starmer want everything tax free?
I still cannot understand why the 5% house deposit scheme goes up to purchases of £600,000.
If someone has a salary of £140,000pa (i.e. to fund a £600k purchase with just a 5% deposit), then why is the taxpayer expected to support them?
Surely it should be capped at the average UK house price - if people want to live in London, with all its advantages, why must the rest of the UK fund them?
If someone has a salary of £140,000pa (i.e. to fund a £600k purchase with just a 5% deposit), then why is the taxpayer expected to support them?
Surely it should be capped at the average UK house price - if people want to live in London, with all its advantages, why must the rest of the UK fund them?
Just like in the 80s, followed by house price rises and then negative equity. Here we go again, lessons learnt zero.
All attempts to make house buying easier/cheaper have always resulted in house price rises that work against the buyer. They are increasing demand without increasing supply. However, the average buyer is somewhat thick so this has always been a (strangely) popular move. Until you increase housing supply beyond demand this will always be the case.
It won't because you are limited to how much you can borrow.
You have fallen for the PR scam side of this scheme. It doesn't help people.
The scheme limits lending to 4.5x income to mitigate risk, so it isn't going to increase borrowing. Take first time buyers. Avg deposit is 26% & avg income/price ratio is about 4.7.
They're already at their borrowing limit.
You have fallen for the PR scam side of this scheme. It doesn't help people.
The scheme limits lending to 4.5x income to mitigate risk, so it isn't going to increase borrowing. Take first time buyers. Avg deposit is 26% & avg income/price ratio is about 4.7.
They're already at their borrowing limit.
In the situation we are in right now I have no complaints by the budget.
Regardless of which party you vote for, no one can complain at what has happened over the past year or future year,until we get out of the virus.
I happy with the budget and I'm optimistic for our recovery but I'm fearful that some, you know the kind ones, will never give this a go regardless of how good it is!
Regardless of which party you vote for, no one can complain at what has happened over the past year or future year,until we get out of the virus.
I happy with the budget and I'm optimistic for our recovery but I'm fearful that some, you know the kind ones, will never give this a go regardless of how good it is!
And this is going to solve your problems? They haven't even started yet , in a couple of years you'll all be living and working in a house and the garden will be the closest you get to going on holiday. Stupid people , deserve everything coming to you, hope the young people stop your pensions and you all end up in the gutter;
Yes please. Any news fact or fiction will most likely be less labour biased than the bbc
Facts - yes. Facts presented out of context to create false impressions - No. Pay rises can always lead to a move to a higher tax bracket. Reporting it here as if it is introduced by the budget creates a false impression/narrative soundbite - it’s not news if it’s always been there.
Arsebucket
It's not designed to be factual, it's done purely for sensationalism and deceitful effect. They infer a pay rise is a bad thing due to paying extra income tax but this is what always happens with pay rises and you always end up with more money than you had before so that's good not bad as this article portrays
And how much do these 'Pointless' Political Pundits earn...at the BBC...Paid from the Taxpayer! Perhaps the MOTD Pundits and all their Overseas correspondants and the Monstrous BBC should ALL Take Pay cuts or better still be 'Disbanded' for 'Project Fear' and spreading scare stories about Brexit, Coronavirus and everything else!
What’s factual is if you have a pay rise then you have the means to pay more tax if it takes you above £50k. Remember Labour said at the last election the rich should pay more and they defined rich as anyone earning above £50k. So anyone who voted Labour should be very happy with this
The article is spun to be hysterical and avoids making that comparison. i.e. as salaries rise, your tax liability rises.
Oh dear no, you just don't get it do you? BBC are saying that the Gov are putting people into higher tax bands, NOT TRUE, it is the individuals themselves who will do it by earning more. So, sorry, they are willfully misleading and in fact lieing to the public!
"A million more set to pay income tax by 2026"
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
He needs to find £40-50billion a year! for at least 10 years!
This will find £8billion a year, assuming x amount of people work.
It'll take huge increases to find what he's spaffed away.
Watch companies relocate to Ireland, 12.5% Corporation Tax.
Companies can move, quite easily, people in the main, remain where they are.
This will find £8billion a year, assuming x amount of people work.
It'll take huge increases to find what he's spaffed away.
Watch companies relocate to Ireland, 12.5% Corporation Tax.
Companies can move, quite easily, people in the main, remain where they are.
Irish corporation tax will have to change, as part of the Eu tax harmonisation roll out.
Companies can move quite easily?! They have thousands of employees, it's not as simple as packing it's bags and moving to Ireland!
You are right. Talented people and high tax paying entrepreneurs also move quite easily. Eventually there will have to be VAT rises, but that won’t happen until after the next election as there was a promise not to do it. Be interesting to see if any party will be honest about that during the campaign.
The price of the pandemic will be paid back over the next 50 years, as was the 2nd World War debt. Paying back the borrowing amounts to 2% of national income P.A. there is no need to pay it all in the next few years. Inflation will reduce the value of the debt as the economy grows. The money hasn't been "spaffed away" it has been used to alleviate an economic catastrophe.
So you didn't bother reading the artice? Right there in the text, it shows the income tax increases alone count for £19.5bn. Between that and the corp tax increase, we hit 40bn easy.
I don't think lots of companies will relocate to Ireland. As a financial centre it is very limited, and the EU does not like its low corporation tax rate.
Any decent person will accept a slightly heavier tax burden after these past twelve months. However it does make me laugh at the way too many people love the idea of all tax rises right up until it looks like it’s going to hit their own income! Put simply, will all need to adapt as best we can and be grateful that so many core workers helped to pull us through this period.
Makes you think really doesn't it.
No one likes paying tax...no one consents to paying tax. If you don't pay you go to jail. If you refuse to comply with the arrest, a gun and battering ram appear at your door.
Sounds like a racket if you ask me. Sounds like theft.
No one likes paying tax...no one consents to paying tax. If you don't pay you go to jail. If you refuse to comply with the arrest, a gun and battering ram appear at your door.
Sounds like a racket if you ask me. Sounds like theft.
People don't mind paying tax, but you wait till pubs and restaurants start putting their prices up as well after all they have had.hope these businesses go bust if they get to gready
The majority of core workers are among the lowest paid. As salaries are unlikely to increase by much more than a few % the only real increase they can get is by increasing personal allowances. Yet companies and others making millions get greater allowances AND issue dividends to shareholders who already have more than enough money to start off with.
And those care workers, most of whom are on minimum wage will take a bigger percentage of the burden than the super rich. How is that fair?
Cancel HS2
Review overseas aid for the next 10 years
Ban tax havens and make the super rich pay their share
Tariffs or levy on low paying tax companies (apple, boots, amazon etc)
Failing that let's have a Revolution!!!
Review overseas aid for the next 10 years
Ban tax havens and make the super rich pay their share
Tariffs or levy on low paying tax companies (apple, boots, amazon etc)
Failing that let's have a Revolution!!!
If this Govt. can't be bothered to feed British children they shouldn't be feeding Yemen's!!
Where's the Arab league, the Gulf region support or the WHO, United Nations and a plethora of charities??
Where's the Arab league, the Gulf region support or the WHO, United Nations and a plethora of charities??
I'm sure there are plenty of very wealthy Middle eastern countries clambering to help their near neighbours and take our place.
If you think aid will change anything in Yemen they you're sadly deluded. We have been giving aid to African countries for many, many years and nothing has changed. Still war and bad government and people dying. Still the same constant charity adverts for the same things. They need to sort themselves out and giving them money has never achieved this
Overseas aid does need sorting out. A significant amount is based on the receiving country buying goods, services or armaments from the UK.
I thought the government might have reflected before cutting the foreign aid to Yemen. The bombs and missiles that cause much of the misery there are British. Flown in planes by British trained pilots, the planes serviced by British contractors. All via Saudi Arabia, but no sense of shame in cutting that aid.
sorry that is just lies put out by the daily fail and the bbc the truth if you check history not works of fiction is Tories cut taxes only for big business and the rich and well the rest just pay pay pay not only in income tax but all the other taxes that hit the poorest hardest and the richest not at all
You earn more, you pay tax. The more you earn, the more tax you pay. It’s simple really, or does Keir Starmer want everything tax free?
Erm no. 50% to 45% for the wealthy, alongside a bedroom tax for the less well off. The Tories have the Express Mail, Sun, Telegraph etc to feed you disingenuous stories that you seem to believe without question
Whether you like it or not reducing the tax rate from 45% to 40% actually earned the UK more revenue (as their was less off-shoring, avoidance, and the illegal bit (evasion). If may sound like give tax breaks to the rich, but actually benefits us all.
"A million more set to pay income tax by 2026"
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
"A million more set to pay income tax by 2026"
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
Yes, but it'll be hardly anything and shouldn't we all be contributing something, even those who are less well off?
What's the betting Rees-Mogg and his mates won't be paying more tax?
"Commentators have called it an increase in an individual's tax burden "by stealth"". this lot do it all by stealth they haven't the balls to be open. the rich chums and cronies getting richer and the rest get poorer. !
Given every single commentator has remarked on the freeze on tax bands it is hardly "by stealth" ....... what else do you expect HMG to do to recover the cost of the pandemic?
More than one million people are set to start paying income tax in the next five years, official forecasts say, due to a move announced in the Budget.
Is this down to the continued funding of the BBC?
Is this down to the continued funding of the BBC?
No - and £12560 isn't much either.