National insurance cut

Soldato
Joined
3 Dec 2002
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4,004
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Groovin' @ the disco
Can I remind everyone that on 7 September 2021, Then PM BJ announced the introduction of a Health and Social Care Tax.

By increasing NI by 1.25% (13.25% total) rom 6 April 2022 and for a separate tax to start in April 2023 to tax people a futher 1.25% to address the funding crisis in the sector.

This broke the tory manifesto of not raising taxes, but BJ insists that it was required. "we cannot shirk the challenge of putting the NHS back on its feet"
manifesto: https://www.conservatives.com/our-plan/economy
back bench anger: https://www.theguardian.com/politic...d-tory-anger-over-manifesto-breaking-tax-rise

Then backbencher Hunt said "social care does not actually get as much money as it needs."

7 months later; November 2022, This was reversed by Kami Kwarteng stating, "Taxing our way to prosperity has never worked"

in November 2023, now Chancellor Hunt in the "Autumn Statement for growth" announced a 2p cut to NI in January 2024.

The uk entered a recession late 2023 before the NI cuts took place.

Now two days ago, during the spring budget, Chancellor Hunt cuts NI by 2% again...

So in the space of less than 2 and a half years... the same party that was predicting gloom and doom for the future of our health service unless we start to pay an extra 3%+ now thinks that we can pay 4% less and it will be fine.

Please tick all that applies...
[ ] they have found a magic money tree
[ ] they make **** up as they go along
[ ] they don't care about the billions of people that need the NHS nor the future of social care
[ ] it's an election year
[ ] they are salting the battlefield before losing the war.
[ ] other, please explain:
 
Associate
Joined
18 Oct 2002
Posts
1,411
Can I remind everyone that on 7 September 2021, Then PM BJ announced the introduction of a Health and Social Care Tax.

By increasing NI by 1.25% (13.25% total) rom 6 April 2022 and for a separate tax to start in April 2023 to tax people a futher 1.25% to address the funding crisis in the sector.

This broke the tory manifesto of not raising taxes, but BJ insists that it was required. "we cannot shirk the challenge of putting the NHS back on its feet"
manifesto: https://www.conservatives.com/our-plan/economy
back bench anger: https://www.theguardian.com/politic...d-tory-anger-over-manifesto-breaking-tax-rise

Then backbencher Hunt said "social care does not actually get as much money as it needs."

7 months later; November 2022, This was reversed by Kami Kwarteng stating, "Taxing our way to prosperity has never worked"

in November 2023, now Chancellor Hunt in the "Autumn Statement for growth" announced a 2p cut to NI in January 2024.

The uk entered a recession late 2023 before the NI cuts took place.

Now two days ago, during the spring budget, Chancellor Hunt cuts NI by 2% again...

So in the space of less than 2 and a half years... the same party that was predicting gloom and doom for the future of our health service unless we start to pay an extra 3%+ now thinks that we can pay 4% less and it will be fine.

Please tick all that applies...
[ ] they have found a magic money tree
[ ] they make **** up as they go along
[ ] they don't care about the billions of people that need the NHS nor the future of social care
[ ] it's an election year
[ ] they are salting the battlefield before losing the war.
[ ] other, please explain:
Ok, I'll go with the simple tick box way of doing it.
Be it on your own head though.

I would tick..............
 
Soldato
Joined
29 Jul 2010
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23,808
Location
Lincs
You could be right of course, I was just pointing out that there are other factors aswell
So you wouldn't blame it on the Soviet Unions invasion as a factor? Or any other external problem that we had no control over that impacted our economy?

The glaringly obvious bit you are missing with your simplistic view is of course Govts can't control what external problems occur, but it's 100% in their control how they react to the problem.

That's what you judge them on.
 
Soldato
Joined
3 Dec 2002
Posts
4,004
Location
Groovin' @ the disco
1. Growth
2. If no growth then we have to live within means, and that means no improvement in services

Interesting how you suggest growth yet have no faith in the country’s economic growth, or at least not enough faith to invest in it with your pension.

In 2020 during Covid when I had nothing to do, I thought I'd take a look at my pension fund.

I had never really given it a second thought before. It is a defined contribution employer scheme where the funds are taken salary sacrifice, and the provider they chose to run it picked the funds it was invested in, on what they term a 'lifestyle' profile, which means that initially its more invested in stocks and shares, then as you approach retirement age it switches over to safer assets.

Anyway, I looked into the growth I'd had over the 16 ish years Ive been in the scheme, and where it was invested. I was not happy with what I found.

There was a very high proportion of UK equities. I found out that many 'default' funds have this, because the logic was its a UK scheme, for UK employees, and that meant that those people favour UK bias. This immediately seemed crazy to me, as the US has experienced much higher growth. Why would you favour UK equities over faster growing US equities with the US being the biggest economy in the world?

Does this mean you believe that the NHS is destined to deteriorate to nothing? As the financial requirement of the NHS is already out pacing the growth of this country.
 
Soldato
Joined
5 Mar 2010
Posts
12,370
Inheritance tax is just another tax on the less well off. Its designed to keep people in their place, cant have to many up and commers entering the sphere of the North Norfolk Holiday yaaaaah team.

Hardly, (I'm sure this has been said plenty of times) if a married couple passes their home to their children then the threshold is a million quid. Nobody in the "less well off" category is sporting a million quid estate.
 
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