Are we expecting BOE to remain at 4.75% on 8th February 2025?

CSI_Yorkshire

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

We're taxed so much in this country 

We're not.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

and get barely functioning services 

See above.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

 because the government are too busy enriching themselves. 

How much of your tax money do you think goes to the MPs?

Ibits4321

CSI_Yorkshire said:

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

We're taxed so much in this country 

We're not.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

and get barely functioning services 

See above.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

 because the government are too busy enriching themselves. 

How much of your tax money do you think goes to the MPs?

We'll have to agree to disagree then. Why don't you pay more then is required of you then, if you don't think we're taxed enough? There is a mechanism by which you can voluntarily pay more tax

NorfolkCanary

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

I don't agree with this. We're taxed so much in this country and get barely functioning services because the government are too busy enriching themselves. I don't think anybody would complain about taxes if we had 2010 levels of satisfaction in the NHS and no billions lost on bogus croney contracts/PPE/COVID loan fraud etc. The 50k higher tax threshold being frozen until 2028 is scandalous, by the way. It should be 60k already if it just rose by inflation. I shudder to think what it should be in five years time going off recent levels of inflation 

Well that be the Tories for ya.

Sweden (and other Scandinavia countries) are oft talked about in terms of society, prison system, care, healthcare, schooling, general happiness: https://sweden.se/life/society/taxes-in-sweden

It's several years old now, but take a look at table 1 here: http://eprints.lse.ac.uk/66111/1/Kleven_Scandinavians%20tax_2016.pdf to see how different we (UK) & US tax citizens. We can't complain about services when we end up with figures as such.

As for the next MPC meeting it'll be another 0.25% rise, but soundbites will continue to be "we need to stay the course"; "almost there"; "green shoots"; "it's the EU's/Labour's/Just Stop Oil's/Greenpeace's/cross channel boats/solar panel's (delete as applicable) fault that we're having to raise rates again"

CSI_Yorkshire

Ibits4321 said:

CSI_Yorkshire said:

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

We're taxed so much in this country 

We're not.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

and get barely functioning services 

See above.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

 because the government are too busy enriching themselves. 

How much of your tax money do you think goes to the MPs?

We'll have to agree to disagree then. Why don't you pay more then is required of you then, if you don't think we're taxed enough? There is a mechanism by which you can voluntarily pay more tax

Where did I say that I don't think we're taxed enough?

I simply said that we don't have a particularly high effective tax burden and that potentially this is leading to some of the failings of public services.

Ibits4321

CSI_Yorkshire said:

Ibits4321 said:

CSI_Yorkshire said:

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

We're taxed so much in this country 

We're not.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

and get barely functioning services 

See above.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

 because the government are too busy enriching themselves. 

How much of your tax money do you think goes to the MPs?

We'll have to agree to disagree then. Why don't you pay more then is required of you then, if you don't think we're taxed enough? There is a mechanism by which you can voluntarily pay more tax

Where did I say that I don't think we're taxed enough?

I simply said that we don't have a particularly high effective tax burden and that potentially this is leading to some of the failings of public services.

That last statement surely suggests we're not being taxed enough. Anyway, it wasn't my intention to get into an argument about the tax burden. I maintain my position that it's unfair to tax PAYE people heavily while allowing the wealthy to escape with light, tokenistic taxation.

MobileSaver

Ibits4321 said:

CSI_Yorkshire said:

Ibits4321 said:

CSI_Yorkshire said:

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

We're taxed so much in this country 

We're not.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

and get barely functioning services 

See above.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

 because the government are too busy enriching themselves. 

How much of your tax money do you think goes to the MPs?

We'll have to agree to disagree then. Why don't you pay more then is required of you then, if you don't think we're taxed enough? There is a mechanism by which you can voluntarily pay more tax

Where did I say that I don't think we're taxed enough?

I simply said that we don't have a particularly high effective tax burden and that potentially this is leading to some of the failings of public services.

That last statement surely suggests we're not being taxed enough. Anyway, it wasn't my intention to get into an argument about the tax burden. I maintain my position that it's unfair to tax PAYE people heavily while allowing the wealthy to escape with light, tokenistic taxation.

Those "tokenistic" taxes mean that the wealthy can pay more tax in one year than the average person pays in their entire working life and you think that's unfair?!?!

CSI_Yorkshire

Ibits4321 said:

CSI_Yorkshire said:

Ibits4321 said:

CSI_Yorkshire said:

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

We're taxed so much in this country 

We're not.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

and get barely functioning services 

See above.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

 because the government are too busy enriching themselves. 

How much of your tax money do you think goes to the MPs?

We'll have to agree to disagree then. Why don't you pay more then is required of you then, if you don't think we're taxed enough? There is a mechanism by which you can voluntarily pay more tax

Where did I say that I don't think we're taxed enough?

I simply said that we don't have a particularly high effective tax burden and that potentially this is leading to some of the failings of public services.

That last statement surely suggests we're not being taxed enough. Anyway, it wasn't my intention to get into an argument about the tax burden. I maintain my position that it's unfair to tax PAYE people heavily while allowing the wealthy to escape with light, tokenistic taxation.

It doesn't.

It could mean that the public sector are trying to do too many things and that tax revenues would better concentrated on fewer services.

It is a legitimate political position to think that the state should be doing less, but doing those few things very well 

And now you've changed your point to say that we have too high PAYE income tax.  That's not the only tax people pay, so counting only that in an "is tax too high" comment is silly.  That's why sensible statistics focus on total tax burden.  15% income tax plus 80% VAT wouldn't be fun for most people, but would give us amongst the lowest PAYE tax rates.

On your point of "the wealthy don't pay enough" - most people are not net contributors to the system. They pay less in tax than they use in services.  The exception are the wealthy, who pay more than they use.

MattMattMattUK

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

I don't agree with this. We're taxed so much in this country and get barely functioning services because the government are too busy enriching themselves. I don't think anybody would complain about taxes if we had 2010 levels of satisfaction in the NHS and no billions lost on bogus croney contracts/PPE/COVID loan fraud etc. The 50k higher tax threshold being frozen until 2028 is scandalous, by the way. It should be 60k already if it just rose by inflation. I shudder to think what it should be in five years time going off recent levels of inflation 

We are not taxed "so much" in this country, we pay very little in general. More than half of households receive more in cash benefits than they pay in tax, only 20% of households make a net contribution in any one year, only around 3% of people make a net contribution over their lifetime. The bottom 66% of earners in the UK have the lowest effective rate of income taxation in the EU. We have a middling VAT rate but with far more exclusions and zero rated products than any other EU nation. Our corporation tax rate is below the average.

The UK is a low tax nation, we do not pay "so much tax" the majority pay little to nothing. The personal allowance needs to be abolished, with NI and IT combined and rates of 38%/42%/47% implemented.

MattMattMattUK

CSI_Yorkshire said:

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

We're taxed so much in this country 

We're not.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

and get barely functioning services 

See above.

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

 because the government are too busy enriching themselves. 

How much of your tax money do you think goes to the MPs?

I do not know how much they think goes to MPs, but averaged it out, the entire remuneration package for all MPs past and present, including pensions, allowances etc. costs around £1.02 per person (population) per year in the UK, in France it is €1.38 per person and in the USA it is $8.61.

michaels

MattMattMattUK said:

Ibits4321 said:

NorfolkCanary said:

TheAble said:

I lose over a third of my income to tax and NI - I'd say that's enough don't you think?

No.
We have an issue in this country of expecting European quality of services, healthcare provision etc...,with US style level of taxation. One isn't achievable without the other.
If we want quality public services we need to pay for them and actually value & 'invest' in, as the public rather than sit back and expect everything on a plate, so yes, increase tax for all ranges.
What would benefit is increased wages to compensate and government (& buddies) we can trust not to rampant profiteer.

I don't agree with this. We're taxed so much in this country and get barely functioning services because the government are too busy enriching themselves. I don't think anybody would complain about taxes if we had 2010 levels of satisfaction in the NHS and no billions lost on bogus croney contracts/PPE/COVID loan fraud etc. The 50k higher tax threshold being frozen until 2028 is scandalous, by the way. It should be 60k already if it just rose by inflation. I shudder to think what it should be in five years time going off recent levels of inflation 

We are not taxed "so much" in this country, we pay very little in general. More than half of households receive more in cash benefits than they pay in tax, only 20% of households make a net contribution in any one year, only around 3% of people make a net contribution over their lifetime. The bottom 66% of earners in the UK have the lowest effective rate of income taxation in the EU. We have a middling VAT rate but with far more exclusions and zero rated products than any other EU nation. Our corporation tax rate is below the average.

The UK is a low tax nation, we do not pay "so much tax" the majority pay little to nothing. The personal allowance needs to be abolished, with NI and IT combined and rates of 38%/42%/47% implemented.

38%?  Are you sure?