Liz Truss Resigns [Who'll be the next Prime Minister?]

Ah, thresholds. I seem to recall Gordon Brown loving those too. Oldest trick in the book and surely something they should have realised would spotted pretty quickly.

[Julian]

[img]Download Failed (1)[/img]

I nearly got a bullseye.

[ianch99]

Originally Posted by Sephiroth

She is a lying toad. Unless she overrules her Chancellor, she's stealth taxing us rather than putting more money into our pockets. I hope the press crucify her.

From the Torygraph:

This was known when they announced the mini-budget. Because of Sunak's frozen thresholds, only the 150k+ earners would be better off in real terms.

I was surprised there was not more media coverage on this. I found this from a week ago:

The Stealth Tax Buried in Kwasi Kwarteng’s Budget

For all the talk of tax cuts in UK Chancellor of the Exchequer Kwasi Kwarteng’s mini budget last week, the most significant stealth tax imposed by his predecessor Rishi Sunak remains very much in place.

In his spring budget of 2021, Sunak sought to offset the cost of the pandemic with a four-year freeze in income-tax thresholds. Ordinarily, these thresholds rise in line with inflation to preserve the real value of your income. When they don’t, people’s real spending power falls.

With inflation much higher than Sunak originally expected, the Institute for Fiscal Studies estimates that this so-called fiscal drag will cost taxpayers around 30 billion pounds ($32.5 billion).

[Sephiroth]

Yeah - what I was at the back of my mind was that only yesterday, the lying toad was promising to put more money into our pockets. She prolly weasel worded that but it seemed clear to me.

[GrimUpNorth]

Originally Posted by Sephiroth

She is a lying toad. Unless she overrules her Chancellor, she's stealth taxing us rather than putting more money into our pockets. I hope the press crucify her.

From the Torygraph:

You sound surprised????

[Julian]

There is rightfully criticism of the unfunded tax cuts. One of which is the reduction to 19% of the basic rate.

What we are now seeing is criticism that the thresholds were not raised, which would have involved even more borrowing!

It's not straightforward this budget malarkey.......

[Sephiroth]

Originally Posted by GrimUpNorth

You sound surprised????

You got nothing better to say when I'm expressing an honest view that hasn't yet been made on the forum?

---------- Post added at 19:23 ---------- Previous post was at 19:22 ----------

Originally Posted by Julian

There is rightfully criticism of the unfunded tax cuts. One of which is the reduction to 19% of the basic rate.

What we are now seeing is criticism that the thresholds were not raised, which would have involved even more borrowing!

It's not straightforward this budget malarkey.......

... but lying to the people seems also worthy of criticism.

[denphone]

Originally Posted by joglynne

I quess my result is pretty much as I expected. I would love to see the result of ̶o̶n̶e̶ errr I mean some of our more entrenched members.

l could not download my readings but l seem to be near enough the same as you Jo.

[jfman]

Originally Posted by Julian

There is rightfully criticism of the unfunded tax cuts. One of which is the reduction to 19% of the basic rate.

What we are now seeing is criticism that the thresholds were not raised, which would have involved even more borrowing!

It's not straightforward this budget malarkey.......

It’s really straightforward. The Conservatives have maxed out the credit card, took a 120% mortgage on the (diminishing value) house but made the kids liable for the debt.

[GrimUpNorth]

Originally Posted by Sephiroth

You got nothing better to say when I'm expressing an honest view that hasn't yet been made on the forum?

---------- Post added at 19:23 ---------- Previous post was at 19:22 ----------



... but lying to the people seems also worthy of criticism.

That's why I said what I did, as in you seem to have seen through the PM and her cohort but your statement came across as being surprised that what they promise and what will transpire is quite different. Being honest, I'd not picked up on the threshold trick by the way, I truly didn't expect things to end up being as great for ordinary people as they were promising because that's not what happens when team blue are in power but didn't think they were being so twisted with the truth. Explains why they didn't want anyone looking at the projected figures.

[Sephiroth]

Originally Posted by GrimUpNorth

That's why I said what I did, as in you seem to have seen through the PM and her cohort but your statement came across as being surprised that what they promise and what will transpire is quite different. Being honest, I'd not picked up on the threshold trick by the way, I truly didn't expect things to end up being as great for ordinary people as they were promising because that's not what happens when team blue are in power but didn't think they were being so twisted with the truth. Explains why they didn't want anyone looking at the projected figures.

Well, you're right there.

[GrimUpNorth]

Originally Posted by Sephiroth

Well, you're right there.

And if the rank and file members are having concerns then they are in serious trouble, just like Labour at the last election when a good chunk of the core support just couldn't sign up to what was on offer.

Originally Posted by Sephiroth

She is a lying toad. Unless she overrules her Chancellor, she's stealth taxing us rather than putting more money into our pockets. I hope the press crucify her.

From the Torygraph:

Unless the Government explicitly says they're raising the thresholds you assume they don't. This is pretty much something I was looking for/expecting out of the budget instead of the 45% cut and when it didn't come I knew the thresholds would be frozen.

Cameron/Osbourne are the only ones in recent times to raise the thresholds on the back of the 2015 election.

[Sephiroth]

Originally Posted by GrimUpNorth

And if the rank and file members are having concerns then they are in serious trouble, just like Labour at the last election when a good chunk of the core support just couldn't sign up to what was on offer.

Yes - they are in trouble.

Originally Posted by GrimUpNorth

And if the rank and file members are having concerns then they are in serious trouble, just like Labour at the last election when a good chunk of the core support just couldn't sign up to what was on offer.

As per my avatar to the left…