Autumn Budget 2022
- Thread starter Hagar
- Start date
Where is just above benefits?
Did you not see that benefits are going up by the same. When you are older on a fixed income and not so able, gaining additional income streams is harder. When I was in my twenties, thirties and forties earning additional money was easier in many ways.
Equally all the able bodied who won't go to work because it pays them only a £100 or so extra per week. It is not the same as working for that £100 per week. I would have been tearing my hair out without the satisfaction of work, of colleagues, of different experiences and conversations and finally of producing something and taking home a wage packet each month. The benefit of all that far exceeds the difference between UC and work.
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Well Mrs May wanted to remove it in her manifesto. All other parties supported it's retention. Today all parties support its retention.
I too think a more sensitive assessment is needed though. I will get max of 5% In my pension from work.
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Sure they could have a one line bill commuting it for one year. They didn't so are to be commended.
Pensioners are the only consistent voters for any party. Too many people cannot be bothered. Labour will not shun the pensioner vote either.
The Bank of England were noticeably tardy with rate rises only starting some time after the American's. They did move ahead of the European Central Bank but they could have been a bit sharper. 3% is still light when compared with the Fed should be another half a percent.
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There is still plenty of money in the economy. Cars will still sell, the housing market will not collapse.
This was ever the case. And which country or decade could you name that has universal accord with how their taxes are spent.
We have taken a 10 year holiday from home ownership, not having seen a property that we would want to own. We stayed in one rental property whose rent never increased over that time. We obviously have money in building societies as we sold our last house and banked the cash.
Now we are buying a house (I am retired) and much reducing our bank balances in the process.
I am wondering how this wealth tax system would have affected us? We have declared all interest, poor that it was and paid any taxes due. We will now pay stamp duty and continue to pay property taxes to the local authority.
Would the intention be to increase tax take on accounts held in a building society or bank by making them some sort of personal allowance scheme similar to income?
And now we own a property, what kind of proportion of equity do you forsee going to government annually? Is this in addition to the local precept or instead of?
For such a major change in the countries taxation, it would need more than a simple manifesto commitment and a vote through parliament. It would take many years of work on a cross party platform so what is suggested is unlikely before 2040 ish at the earliest in my opinion. Thankfully that let's me out, I'll be too old, but it definitely will be a long process.
Now we are buying a house (I am retired) and much reducing our bank balances in the process.
I am wondering how this wealth tax system would have affected us? We have declared all interest, poor that it was and paid any taxes due. We will now pay stamp duty and continue to pay property taxes to the local authority.
Would the intention be to increase tax take on accounts held in a building society or bank by making them some sort of personal allowance scheme similar to income?
And now we own a property, what kind of proportion of equity do you forsee going to government annually? Is this in addition to the local precept or instead of?
For such a major change in the countries taxation, it would need more than a simple manifesto commitment and a vote through parliament. It would take many years of work on a cross party platform so what is suggested is unlikely before 2040 ish at the earliest in my opinion. Thankfully that let's me out, I'll be too old, but it definitely will be a long process.