Tories or Labour for those with high income and good savings?

Scooby_Man

I think my choice of party might boil down to which one is best for my hard earned and hard saved (shallow, I know).

I like the fact that Tories will take people off benefits if they are not entitled (and also increase incentive to work), raising chance of less tax increases. It also sound like they want to reward hard workers and hard savers, even if only at face value.

I'm still not a fan of the 50p rate - but anything above that and, personally, I'd be better off leaving this country.

PS - sorry if this is the wrong forum for this post - but would like to get some thoughts...

theGrinch

personally, i believe even mrs thatcher spoke conservative but wasnt always conservative in action especially on the PSBR. this has to be a huge priority to get it down and get to smaller government with it. it is not a free lunch as so many seem to think

would like to see more supply side economics, lower tax and benefits, more child care and (re)training. simplification of the tax system would be welcomed.

I would also like to see future north sea oil revenue put aside (as per norwegians) in a sovereign fund.

jcj

Is this a serious question?

Scooby_Man

jcj wrote: »

Is this a serious question?

Yes it is. To me, my income and savings are quite critical to the lifestyle and survivability of me and my family. I would like to vote for a party (if there is one) that would have greater chance of preserving my assets for my betterment.

Now I understand that we are 'all in this together' and those with financially broader shoulders should support the poor etc etc...by that generates other problems that need to be managed. I don't particularly want to be under a government that de-motivates me to work harder and strips the power of my savings away.

amcluesent

My income was rising 25% p/a in the 1980s, since Clown took over at No.11/No.10 it's been tax after tax and standard of living has gone backwards (I'm not one of Labour's favoured chavs, single parents, benefits claimants).

Now, who will I vote for...:)

iltisman

I think you would be better off leaving the country until the mess made by Labour has been sorted .Where to and for how long is the tricky question.

ashteadgirl

iltisman- when you work out the answer to your question please let us know as I think there will be a mass exodus. As you say the problem is to where

Linton

amcluesent wrote: »

My income was rising 25% p/a in the 1980s, since Clown took over at No.11/No.10 it's been tax after tax and standard of living has gone backwards (I'm not one of Labour's favoured chavs, single parents, benefits claimants).

Now, who will I vote for...:)

Strange - I dont remember the 1980's as a economic golden age!!

I have just checked....

Inflation in 2000-2008 lower than every corresponding year 1980-1988

Unemployment claimant count in 2000-2008 lower than every corresponding year 1980-1988

Income tax rates 2000-2008 lower than 1980-1988

etc etc !!!!

ses6jwg

My Dad runs a small electricial and plumbing business employing around 15 men. He has done since the late 1980s.

He has struggled to do well since 2000, employer NI contribtuions have gone up and up. Better off under Major, my Mum says.

CLAPTON

Scooby_Man wrote: »

I think my choice of party might boil down to which one is best for my hard earned and hard saved (shallow, I know).

I like the fact that Tories will take people off benefits if they are not entitled (and also increase incentive to work), raising chance of less tax increases. It also sound like they want to reward hard workers and hard savers, even if only at face value.

I'm still not a fan of the 50p rate - but anything above that and, personally, I'd be better off leaving this country.

PS - sorry if this is the wrong forum for this post - but would like to get some thoughts...

there is too little know about the policies of either party to answer your question

raising incentives to work might actually be very expensive

simplifying the tax system might be very expensive

the reason why we have these 'means' tested benefits that reduce the incentive to work is that if you remove them then you either give every one both rich and poor the benefit or you make the poor even poorer by removing them.

Its simply maths really which is why no government either labour or conservative has ever really successfully addressed the issue.

As Cameron has promised to be the party of the poor and reduce inequalities I'm curious exactly what he will actually do.

theGrinch

Linton wrote: »

Strange - I dont remember the 1980's as a economic golden age!!

I have just checked....

Inflation in 2000-2008 lower than every corresponding year 1980-1988

Unemployment claimant count in 2000-2008 lower than every corresponding year 1980-1988

Income tax rates 2000-2008 lower than 1980-1988

etc etc !!!!

to me all politicans are pretty much the same.

because the tories need to clean up the labour mess; sounds like a cliche, but it is true in these two cases. in the 1970s it was an industrial unarrest mess of overmanning.

inflation needs to be be looked at globally. the 1980s was a time of globally higher inflation.

maybe someone can advise the tax burden over the two periods 1980-1989 and 2000-09