Possibly two groupings.
Wealth creators who run businesses that help UK PLC, paying a shed load in company and personal taxes, employing folk. I don’t think we should knock these people. I see them ‘write the tax cheques’ with few qualms.
As opposed to a very wide and disparate array of...
I thought you were specifically talking about this year’s NI cut. It cost £10b + £0.75b according to the evil BBC who used …. you guessed it …. the IFS.
I did. But added IHT as the one change that might happen.
Wealth taxing SIPP’s, but not occupational scheme values which can be colossal or group personal pensions, would be both a vote loser and challengeable in the courts as unjust. Probably why no one sensible has mentioned it.
SIPP’s...
That would hand the next GE to another government. Many millions have SIPP’s. They’re not a controversial thing, they’ve simply replaced occupational and group personal pension schemes, as the employment and regulatory landscape has evolved. I’ve not heard anyone sensible say attack SIPP’s...
Also council tax and an easy one to collect rather than assessing wealth (people's matters are complex and fluctuate wildly e.g. markets crash, also huge sums are held overseas). Perhaps further council tax bands at the top end.
I've met firefighters over the years who took their earlier fantastic pension as soon as they could, then took another job. One was during on a ski trip in 1999. How on earth could the public purse finance 30 year occupational pensions? Remember that the employee contributions are small post...
Aren't those days over for later entrants, dealt with in 2010? Much to the anger of various bodies, but the public purse simply can't afford to bankroll 40 year final salary pensions.
Something will have to give one day.
People on fantastic pensions for 25 years plus, based on say 50 years work. The sums don't add up.
All western nations face this ticking time bomb.
I suspect because HMG systems don’t look at all 53m adults and have all their income data. Benefits including pension credit are non taxable, HMRC don’t receive that information. In addition, independent taxation in place since 1990 means household income is not recorded. Whereas benefits...
It is more complicated than that. These are still fantastic defined benefit pension schemes. From 2015 career average.
Mrs.W’s in the NHS scheme. 9.8% employee contributions, so really just a 7.84% reduction in net pay. Overall 30.48% is contributed, the public purse meeting the 22.6%...
There’s also a large section of OAP’s, 2.4m, are who entitled to an array of welfare benefits. Some add up to a fair whack.
Brown should never have made it universal in the first place. As I said my parents definitely didn’t need the winter fuel payment. Madness when others suffer.
Public...
Remarkably, Labour announced the scrapping of the Arundel bypass back in June. To announce the cash would be spent on repairing potholes.
Worthing/Arundel A27 - we avoid it like the plague. Utter tedium. It’s got steadily worse as the coastal belt between Durrington and Bognor is redeveloped...