Voting Tory Is Bad For Your Wealth

[Gromit]

Highest taxes in 50 years.

//  The Resolution Foundation said the policy would lead to the country's biggest tax rise in at least 50 years.

Taxpayers are on course to pay £40bn a year by 2028 as a result of the freeze on personal tax thresholds and inflation, new analysis suggests. //

 

[Zacs-Master]

That would be The Resolution Foundation headed up by one Torsten Bell, ex Labour Head of Policy and and Treasury civil servant / special adviser to Alistair Campbell. 
Hardly and impartial view then. 

[bobbinwales]

So Labour is going to cut taxes???.... I thought we  were totally against that when Liz Trusse planned to do it.

I think the announcement to freeze allowances to 2028 was done to balance the books & placate the markets after the Truss/Kwarteng fiasco. In reality the Cons will start to cut the taxes before the election so Labours got to decide whether to support the tax cuts or oppose them or promise even bigger cuts 

[Gromit]

I might watch it. Or wait for the American remake 😀

[bobbinwales]

Wrong thread maybe grommit?

[naomi24]

I strongly suspect a vote for Labour would prove worse for my wealth.

[gulliver1]

"Voting for Brexit was bad for your wealth also.

[Peter Pedant]

give em hell gully

£40bn is peanuts - where does the rest come from

( third of cost of NHS per year)

well it is not peanuts if you have to pay it

do you realise DOddy got off tax fraud with a joke like that

[ToraToraTora]

It's almost as if there has been some crises to pay for.

[bobbinwales]

I was expecting after covid that income tax would go up at least 5p in the £ for  a few years to recover costs of furlough, bounce back loans and covid fraud ( and not just by ministers hur hur) as well as nightingales  vaccines ppe etc

[gulliver1]

Voting for Boris and Brexit .was good for his wealth but bad for yours. .......You lot were Conned by a professional Con.

[ToraToraTora]

yes bob, the 5C types ignore the cost of the crises over the last few years. That was always going to have to be paid for. I wonder what state we'd have been in in Labour had been inpower in 2019. Abacus and Cobstello! PMSL! Let's not forget that Labour is the party that once had 97p rate of income tax.

[gulliver1]

TTT I think the taxpayer paid over and over Again for the covid crisis with the abuse of their money via Hanckock ,Baroness Money of Mayfair ,the Tory mps and Cronies in the Boris's Con Crony Club.

[naomi24]

//Let's not forget that Labour is the party that once had 97p rate of income tax.//

 

Or that Labour abolished the low rate tax for low-paid workers.

[Gramps82]

Gulliver. You are obsessed with the tax we pay in this country.

Perhaps you could enlighten us the tax in the land of utopia that you purport to reside in, so we can draw an honest comparison.

[ToraToraTora]

in 1979 when TGL came to power the basic rate of income tax was 33%. When that was cut to 30% it actually increased tax reciepts. Direct taxation is Labour's weapon of choice against the poor.

[bobbinwales]

But didn't Thatcher hike VAT instead?

[ToraToraTora]

No that was Major to pay for the replacement of the community charge.

[naomi24]

Years ago Labour was the party of the poor but no longer.  That is now a fallacy. Labour keeps the poor poor.

[ToraToraTora]

...just checked yes VAT was increased to 15% in 1979 but that was the idea to move the tax burden indirect sources.

[gulliver1]

TTT You often refer to the 5c's in your posts.

I assume you mean 5 Cons. Thatcher,Johnson Truss and Sunak who is the Fifth ??