Sounds like a great idea to give tax break to the already well payed. I think there are plenty of others you could make the same case for, James Milner even. Most of these people are already in the top 1% anyway.
But, they have already said that working people won't see any change in their...
If I have got this right, they are going to increase taxation on working people but not the tax on working people's pay. Taxes on other things, fuel, alcohol, gambling, flights, vehicles, council tax, stamp duty, etc. may go up. So direct taxation remains the same, indirect could change.
With the clarification that I will see no change in my payslip, this must mean that there will be no changes to tax relief on pension contributions or salary sacrifice rules so no rush to get a new bicycle. It follows that the £60K annual limit will not be reduced nor the LTA reintroduced. They...
The number of private sector businesses in the UK at the start of 2023 was 5.6 million https://www.gov.uk/government/statistics/business-population-estimates-2023/business-population-estimates-for-the-uk-and-regions-2023-statistical-release
5.51 million businesses were small (0 to 49 employees)...
This headline in the FT made me smile, just like Uncle Jimmy from Reginald Perrin:
Rachel Reeves will not unveil new freeports in Budget, officials admit
One government figure says Downing Street announcement on Friday was ‘total cock-up with the comms’
It is interesting to see the tax people pay, assuming a 10% salary sacrifice pension, then on an annual salary of £160000, you take home £7342, pay £4250 tax and £407 NI per month. On £40000, the monthly figures are take home £2452, tax £390 and NI £156. How much more tax should people on £160K...
And her salary puts her in the top 1% of earners, just an ordinary working person then. I wonder what her (non contributory) pension scheme looks like.
I agree, and that is why I both love and hate ambiguity/uncertainty. However, you have to have a definition for "working people" to be meaningful. This is how the government defines it: https://www.gov.uk/employment-status/worker
Worker
A person is generally classed as a ‘worker’ if...
I posted the figures I used in a link above. I will bow to your superior knowledge on AfD. I don't really know what reform are about and disinclined to read much about them. They seem to have a lot of articles about Afd in the FT, the comments section is very entertaining so I might read them...
According to here: https://equalitytrust.org.uk/scale-economic-inequality-uk/ much higher, more than Singapore too.
It's not the top 20%, that covers the median wage here (SE England), more like 0.1-1.0% by earnings. Your GP is probably in the top 2% and couple of headteachers comfortably in...
This is all true, but there if far greater wealth inequality in Germany than here and a right wing that makes Reform look like the scouts getting 30% in some states. Not sure that all our problems are really about money and worrying that someone else might be getting what I think is a slightly...