Those Libservative tax policies in full

Percy1983

mitchaa wrote: »

Tory scaremongering is rife and unfounded.

Based on events that happened 20-30yrs ago, some people need to forget, wipe that old slate clean and just get on with it. The amount of drivel I hear up here in Scotland about a Tory government none of them are old enough to even remember is laughable, it drives me nuts.

It's sheep following sheep, my folks tried telling me about the Tories, I just switched off and remembered what I had experience in. I.e the Labour era. I therefore voted blue

This is so true, every party has done something wrong if you look back. But I looked to the future with my vote, and the future wasn't red.

kennyboy66_2

mitchaa wrote: »

Tory scaremongering is rife and unfounded.

Based on events that happened 20-30yrs ago, some people need to forget, wipe that old slate clean and just get on with it. The amount of drivel I hear up here in Scotland about a Tory government none of them are old enough to even remember is laughable, it drives me nuts.

It's sheep following sheep, my folks tried telling me about the Tories, I just switched off and remembered what I had experience in. I.e the Labour era. I therefore voted blue

Taxes will go up, spending will be cut.

This would have happened whoever won the election, and to be honest the outcomes will be broadly similar.

Here's roughly whats required.

Spending cuts £40bn
Tax rises £40bn

Cuts won't be achieved by efficiency - it will be jobs and benefits.
Taxes won't be achieved by closing loopholes and 2p an a pint.

Its not scaremongering, or critiscm. Its just the way things are.

Not wishing to p*** on your chips, but spending cuts will hurt Scotland more if the Barnet formula stays in place. That's just the way the formula works.
Maybe university fees will be coming your way - who knows.

JasonLVC

Rochdale_Pioneers wrote: »

1. We're holding to our commitment not to force big business to pay any more tax
2. We're holding to our commitment to pay of the deficit by tomorrow lunchtime
3. That means you ordinary peons will pay more tax whilst your employers plead poverty.

The "jobs tax" position always meant that if big business wasn't to contribute their share of the cash, the rest of us will have to stump up more.Nice one Nick!

I must have blinked.....have we just had a Budget with Osbourne and the red briefcase?

Just I was under the impression the emergency budget hasn't actually been published yet, estimated to be mid-June.

So are these 3 items you refer to actually "confirmed" or just good old fashioned "speculation"?

All I've seen so far from the media is speculation that CGT will be brought into line with Income Tax, but nothing actually confirmed as yet.

mitchaa

kennyboy66 wrote: »

I'd wait till the actual budget if I was you. Politically it makes sense to jack taxes up as quickly as possible. A normal increase in allowances benefits higher paid people more in cash terms - which surely can't be the intention.
It would not sursprise me to see an increase in the basic rate of tax to say 22%, this raises £9-10bn, and could be reversed in 4 years time.

From what I read the national insurance increase for those earning £20k+ will go ahead. However, the personal allowance will jump from £6475 upto £7475 which in effect wipes out this increase in NIC upto levels to £45k.

Saying that, the maths appear to be slightly flawed there on 1st analysis, I make the break even point at £40k rather than £45k. £200 gained from the PA increase, £200 lost through the NIC increase at £40k (1% of £20k)

I'm sure there's a little fine tuning to do.

kennyboy66_2

mitchaa wrote: »

From what I read the national insurance increase for those earning £20k+ will go ahead. However, the personal allowance will jump from £6475 upto £7475 which in effect wipes out this increase in NIC upto levels to £45k.

Saying that, the maths appear to be slightly flawed there on 1st analysis, I make the break even point at £40k rather than £45k. £200 gained from the PA increase, £200 lost through the NIC increase at £40k (1% of £20k)

I'm sure there's a little fine tuning to do.

The other side of the coin is the tax credit side. People with kids have done well under Labour (at least compared to couples without kids).
Big advantage of taking people out of the tax credit system is that it removes "dead-weight" costs.

Pete111

kennyboy66 wrote: »

I'd wait till the actual budget if I was you. Politically it makes sense to jack taxes up as quickly as possible. A normal increase in allowances benefits higher paid people more in cash terms - which surely can't be the intention.
It would not sursprise me to see an increase in the basic rate of tax to say 22%, this raises £9-10bn, and could be reversed in 4 years time.

Agree - this would be easier to swallow as that was the rate it was at only a couple of years ago.