Originally Posted by Pierre (Post 36134788)

Help me out as I'm not great with numbers, Which is 5%. How does that equate to a 46p tax cut?

Originally Posted by Pierre (Post 36134788)

Help me out as I'm not great with numbers

Originally Posted by nomadking (Post 36134795)

It's not even 5%, as it's 5% of earnings above £150,000, not the whole £150,000. The greater the earnings are above £150,000, the nearer the reduction gets to 5%. Eg £15m income gets a 4.95% reduction, but a £160,000 income has a 0.3125% reduction.

Originally Posted by noel43 (Post 36134799)

Miscalculation on my part. thought was getting rid of upper tax bracket completely

Originally Posted by Paul (Post 36134823)

The NI rise was never popular, so I doubt anyone will complain about it going away.
The 1% cut was already planned for 2024, all this has done is bring it forward to April 2023.
The removal of the 45% band is, however, perplexing, it helps no one who needs it, and those who will "benefit" will likely not even notice.

Originally Posted by Damien (Post 36134833)

We had all better hope this works. If it doesn't we'll have huge debt and an economy in recession, it will be a disaster and we'll have spent billions on a failed solution with a weak pound and very high borrowing costs. It would be the worst economic situation we've seen in decades?

Those who think it'll just be a matter of getting the Tories out will be wrong as well because in the event that happens then Labour will need to hike taxes without the ability to spend much.

Originally Posted by Mr K (Post 36134731)

So the NHS and social care, which is what it was intended for, can go swing.

False economy folks paid for by borrowing, to be paid back by us all with interest later. Bleeding socialists.

Originally Posted by denphone (Post 36134770)

And the pound is falling. fast.

Originally Posted by daveeb (Post 36134764)

That's always the time they seem to start watering it :rolleyes:

Originally Posted by noel43 (Post 36134772)

But the rich Will get a 46p tax cut.

Originally Posted by GrimUpNorth (Post 36134779)

So we've tried levelling up which didn't work now we're trying trickle down and all that's happening is the richest are still getting richer. All Liz has shown is whether up or down whatever the Conservatives call it their aim is to increase the wealth of the wealthy at the expense of everyone else.

Anything traded in $'s is going to cost more so any marginal tax break enjoyed by the masses will be swallowed up in the increased cost of living.

Originally Posted by OLD BOY (Post 36134836)

Nope. It just gets paid in a different way. Keep up, Mr K!

---------- Post added at 01:45 ---------- Previous post was at 01:42 ----------



You do realise that a weak pound helps exports!

---------- Post added at 01:48 ---------- Previous post was at 01:45 ----------



Why is it strange? The lefties forced our last PM out of office, and you now have a new PM with a different plan.

Sooner or later, Starmer will realise his mistake

---------- Post added at 01:51 ---------- Previous post was at 01:48 ----------



Are you more concerned about the benefit to the rich than the positive impact this will have for the economy?

Don’t bother responding. I know the answer I will get from you ! ;)

---------- Post added at 01:55 ---------- Previous post was at 01:51 ----------



The poor will always be poor. I don’t know why you are surprised by this.

If you can’t be arsed to get a decent job, why should hard working people have to pay for you? It’s our money they are stealing because they can’t be bothered. Go figure.

Originally Posted by OLD BOY (Post 36134836)

Why is it strange? The lefties forced our last PM out of office, and you now have a new PM with a different plan..

Originally Posted by OLD BOY (Post 36134836)

The poor will always be poor. I don’t know why you are surprised by this.

If you can’t be arsed to get a decent job, why should hard working people have to pay for you? It’s our money they are stealing because they can’t be bothered. Go figure.

Originally Posted by Damien (Post 36134833)

We had all better hope this works. If it doesn't we'll have huge debt and an economy in recession, it will be a disaster and we'll have spent billions on a failed solution with a weak pound and very high borrowing costs. It would be the worst economic situation we've seen in decades?

Those who think it'll just be a matter of getting the Tories out will be wrong as well because in the event that happens then Labour will need to hike taxes without the ability to spend much.