Originally Posted by Escapee (Post 36178669)

As he has concentrated on telling the voter what he's not going to do and not what he is going to do, It's difficult to predict. The question is, will he do very little or will he be Blair 2.0.

He can't do much different unless he hits the public with higher taxes, he's unlikely to grow the economy. So I guess he's either going to have a short honeymoon period until those that voted for him realise, or he's going to get radical. He doesn't seem like the radical type, he's Mr cautious but it depends on who he has advising him. (Maybe Blair!!!!)

* Give the Welsh Assembly more powers.

He can then distance himself from them and the shambles they have been responsible for over the past 25 years. (I refuse to call that town hall council a government)

* Some spite taxes on those in the middle earning a good wage to appease those that suffer from envy.

They know they can't tax the rich, so better off workers are an easy target as the are generally despised by those on benefits, low paid, part-time or pensioners.

* Further privatisation of the NHS by stealth with PFI type deals like the last Labour government.

What they have said about increasing the contracting of NHS patients to private hospitals would have resulted in screams of "Privatisation of the NHS" if the Conservatives had proposed the same.

* Building their 40 new hospitals will most likely be some sort of PFI deal with the private sector. The Conservatives couldn't afford it, but perhaps he's going to screw those in the middle enough to pay for it.

* GB Energy or whatever it's called is just another deal to throw money at the private sector. Even if does reduce energy bills it will have been funded by the extra tax collected from the worker.

* Abolish the 40 & 45% tax relief on pension contributions, and reduce the annual allowance from £60k back to £40k. (Envy tax)

* Abolish the 25% tax free amount that you can take from your pension pot after 55 year of age. (I could foresee an election and a Labour government later this year, so even though I didn't really need the money when I combined my private pensions in April this year I took my 25%)

All in all personally I find it depressing, I'm less than 2 years off 60 which is when I plan to retire or partially retire. So from a personal point of view I'm hoping he ignores his advisors and follows his gut instinct, which means he will probably procrastinates for at least a year and then do very little.

I just wonder how long it will take for the centre-left to realise, or should I say admit, that things are no better.

Originally Posted by denphone (Post 36178736)

Personally l have a strong hunch we will be hearing a lot more of ID cards.

Originally Posted by denphone (Post 36178736)

Personally l have a strong hunch we will be hearing a lot more of ID cards.

Originally Posted by Paul (Post 36178745)

What I disagree with is the various proposals to store all sorts of personal information on them.

Originally Posted by Escapee (Post 36178669)

As he has concentrated on telling the voter what he's not going to do and not what he is going to do, It's difficult to predict. The question is, will he do very little or will he be Blair 2.0.

He can't do much different unless he hits the public with higher taxes, he's unlikely to grow the economy. So I guess he's either going to have a short honeymoon period until those that voted for him realise, or he's going to get radical. He doesn't seem like the radical type, he's Mr cautious but it depends on who he has advising him. (Maybe Blair!!!!)

* Give the Welsh Assembly more powers.

He can then distance himself from them and the shambles they have been responsible for over the past 25 years. (I refuse to call that town hall council a government)

* Some spite taxes on those in the middle earning a good wage to appease those that suffer from envy.

They know they can't tax the rich, so better off workers are an easy target as the are generally despised by those on benefits, low paid, part-time or pensioners.

* Further privatisation of the NHS by stealth with PFI type deals like the last Labour government.

What they have said about increasing the contracting of NHS patients to private hospitals would have resulted in screams of "Privatisation of the NHS" if the Conservatives had proposed the same.

* Building their 40 new hospitals will most likely be some sort of PFI deal with the private sector. The Conservatives couldn't afford it, but perhaps he's going to screw those in the middle enough to pay for it.

* GB Energy or whatever it's called is just another deal to throw money at the private sector. Even if does reduce energy bills it will have been funded by the extra tax collected from the worker.

* Abolish the 40 & 45% tax relief on pension contributions, and reduce the annual allowance from £60k back to £40k. (Envy tax)

* Abolish the 25% tax free amount that you can take from your pension pot after 55 year of age. (I could foresee an election and a Labour government later this year, so even though I didn't really need the money when I combined my private pensions in April this year I took my 25%)

All in all personally I find it depressing, I'm less than 2 years off 60 which is when I plan to retire or partially retire. So from a personal point of view I'm hoping he ignores his advisors and follows his gut instinct, which means he will probably procrastinates for at least a year and then do very little.

I just wonder how long it will take for the centre-left to realise, or should I say admit, that things are no better.

Originally Posted by ianch99 (Post 36178769)

You seem to be constrained by the thinking that we have been conditioned by for decades namely, the only people you can tax (at the higher rates) are the PAYE masses. These poor smucks have been taxed to the hilt by the last Government and yet there is no debate about the other, more appropriate, sources of taxation that could be leveraged with a little creative thinking.

Originally Posted by Escapee (Post 36178771)

I'm not constrained, those who decide how people are taxed are the ones who are constrained. Taxing those on PAYE is easy, it's lazy, it's taken at source, the profit can't be hidden in overheads so there's no way for the person to avoid paying it as they never get their hands on it to start with.

I don't think taxing wealth is fair either, if person A earns a £100 and invests it, and person B earns a £100 and spends it on drink and drugs, I don't see why person A should be penalised with a wealth tax because they are saving for the future.

I have been forced into PAYE, because one of my contracts was placed inside IR35 as a result of a blanket assessment of all contractors by a jealous and lazy civil servant. This means to satisfy HMRC I'm now being employed via a fictitious umbrella company to which I am paying fees. I'm paying employee and employer NI, Apprenticeship levy and I'm not able to claim any expenses.

As a result of the IR35 blanket decision, the end client has lost a lot of very difficult to replace resources, some have reduced the days working for the client and the day rate costs for those that have renegotiated have increased with projects delayed or in some cases scrapped.

I said no thanks to the renewal, and then they wanted to negotiate so I screwed them for a large increase to cover the PAYE costs, so they are paying more money and they are getting a lot less for it.

The contract is soon up for renewal, and I have made them aware that I will only agree a contract with a reduced number of days as I have one customer with work outside IR35 who wants to increase the work that I am undertaking for them.

The government and HMRC have been screwing small businesses by forcing them into PAYE, yes there was abuse of the system in many cases, but I would have been quite happy to provide the evidence to HMRC that I was providing a service via my company.

The last Conservative government hit small businesses as they are also an easy target and I certainly don't see Labour doing any different.

Originally Posted by Escapee (Post 36178771)

I don't think taxing wealth is fair either, if person A earns a £100 and invests it, and person B earns a £100 and spends it on drink and drugs, I don't see why person A should be penalised with a wealth tax because they are saving for the future.

Originally Posted by Pierre (Post 36178774)

He's got a point.

Originally Posted by ianch99 (Post 36178773)

As for your IR35 story, you are are just peeved that you are paying more tax, just like a PAYE employee would be which is what IR35 was all about:
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Originally Posted by ianch99 (Post 36178775)

To you maybe. Most people would not discuss the term Wealth tax in the same sentence as "if person A earns a £100 and invests it"

Originally Posted by mrmistoffelees (Post 36178779)

Sorry, I agree with others , if I’ve worked to earn the money and already paid tax/NI then if I choose to invest it why exactly should I be taxed again ?

I’m getting very tired of HMRC spanking me at every opportunity not even interest on my savings is safe

Originally Posted by mrmistoffelees (Post 36178779)

Sorry, I agree with others , if I’ve worked to earn the money and already paid tax/NI then if I choose to invest it why exactly should I be taxed again ?