What will it cost us?

greggymagic

I keep hearing the constant media stream of how many billions of taxpayer's money is being used to bailout banks and fund the VAT cut etc but no one seems to ever report how much it will actually cost an average person. Is that because no one knows yet?

Does anyone have an idea of how much the little person will have to pay extra a month?

Say if you currently take home 1500 pounds a month will it be 10 pounds a month extra tax? Or100 pounds? Or are we talking more.

I just wondered what everyone guessed would be the true monthly/annual per person cost when whichever government comes calling?

Cheers

SGE1

I would imagine the the BR will soon increase to 22p to the £ (as it was until recently), from 20p. So if you earn £1,500 net, you'll be paying an extra £30 a month.

But that's just my guess...

1984ReturnsForReal_2

"how much it will actually cost an average person."
---

0.23 of a home
0.37 of a wife
0.18 of a child
0.16 of a job

+

£5000

greggymagic

"0.23 of a home
0.37 of a wife
0.18 of a child
0.16 of a job

+

£5000"


Is that per month or per annum?

Graham_Devon

My guess is that it won't be put onto income tax as such.

But larger rises in other taxes will happen. And maybe new taxes coming through, related to the environment as a way to increase taxation, but say it's for the environment etc. By that I mean more expensive car tax, flight taxes, recycling taxes etc.

Also a big rise in alcohol duty and other duties.

They may even do something like they did with road fund tax. I.e. abolish what the tax does (it used to pay for the roads), and bolt it onto the council tax, but keep the road fund tax. So in essence the creation of new taxes, from old taxes.

Not to mention road pricing, which could effectively bring huge sums into the treasury.

Reaper

greggymagic wrote: »

no one seems to ever report how much it will actually cost an average person. Is that because no one knows yet?

Yes. The amount of debt per person in the UK is estimated at £33,000 for every man, woman and child in the UK. Read here.

But although that makes great headlines it doesn't necessarily mean we have to pay it. For example some of it guarentees loans between banks which only has to be paid if the bank defaults. More is shares in banks which hopefully can one day be sold again to recover the cash (maybe even make a profit???). More is in the form of direct loans to the banks which they pay back with interest and will therefore make a profit provided the bank doesn't go bust.

So nobody really knows how much will have to be paid by the taxpayer. So far only a relatively small amount of that has definately been lost. With the rest we have to wait and see.