Can we talk about March 2016 Budget
Discussion
So it's looking like George has difficult decisions to make this time round as growth forecasts have reduced and tax take is still not delivering the beef.
Manifesto commitments were no change to income tax for the parliament ditto VAT so the only way he can increase tax take is to lower the 40% and 45% threshold which would certainly draw in the cash.
Lower child tax benefit to taper off from £40k and cleared by £50k instead of £50-60k should reduce spend significantly.
Put VAT on all food child's clothing utilities will certainly raise a few £
Have a new corporation tax on sales say 3% which is administered like vat so consumers are hit.
Up fuel duty taking advantage of the low price - and use that money to help fund the Syrian and immigrant issue.
Remove the 0% Capital Gains tax on principle primary residence - why is it free it's a massive driver of house price inflation.
Benefit in kind tax on employers pension contribution - including final salary pensions (could hurt some a lot here)
Increase the living wage in October to £7.80/hour or even £8.00.
Manifesto commitments were no change to income tax for the parliament ditto VAT so the only way he can increase tax take is to lower the 40% and 45% threshold which would certainly draw in the cash.
Lower child tax benefit to taper off from £40k and cleared by £50k instead of £50-60k should reduce spend significantly.
Put VAT on all food child's clothing utilities will certainly raise a few £
Have a new corporation tax on sales say 3% which is administered like vat so consumers are hit.
Up fuel duty taking advantage of the low price - and use that money to help fund the Syrian and immigrant issue.
Remove the 0% Capital Gains tax on principle primary residence - why is it free it's a massive driver of house price inflation.
Benefit in kind tax on employers pension contribution - including final salary pensions (could hurt some a lot here)
Increase the living wage in October to £7.80/hour or even £8.00.
gibbon said:
Long term I think that could cost revenue rather than generate more, it would cripple the housing market, why should you have to pay tax to move from a like to like property if you want to change geographical location for example? Crazy idea. Industry, work, education, development and progress all require a free movement of a work force, this would kill that.
But at the moment this is the result if you have a 4 bed detached up North or Wales and then your job moves to the SE you will simply not be able to buy a like for like house not even close / take a few steps down the ladder. Why is that fair? Your creating a split society those who have and those who don't. It's wrong.
Personally I've benefitted massively due to this but none the less it's not right.
rs1952 said:
jonah35 said:
Tax everyone 40% and there would then be real discussion around tax.
There is a fundamental flaw in your cunning plan.No government who did that would have a cat in hell's chance of being re-elected come the next election
John145 said:
Cut tax credits.
But does that really have the desired impact?1.Cut tax credits
2. Generally people in receipt of this are poor and tend to spend all their money take this away they have nothing more to spend in the economy
3. Individuals not in receipt of tax credits will not increase spending to mitigate removal of point 2.
4. Impact of this means less vat less company profit so less corporation tax fewer staff enployed so less tax raised and then the suppliers of those shops.
The only way to get out of it is for them to increase salaries OR accept there will be a reduction. It might actually be net detrimental to the govt £ wise. We simlly do not know nor have the data available.
Mr_B said:
Some kinda tax on people who start threads with 'can we talk about...' might raise some serious cash.
. I know what you mean I've been doing this on two threads so far after seeing countless of them ditto "Meanwhile in X" also seems heavily used. And previously to that a "Bo Selecta" phrase was used in some way or another. Whatever decisions are made between now and end of parliament if labour won they will have such vast debts most of their ideas would be prosperous. That's the real nub of it as they know that.
Annoyingly reforms George has tried to get through to make his plan work have been blocked so against the settled will of the electorate
Annoyingly reforms George has tried to get through to make his plan work have been blocked so against the settled will of the electorate
JagLover said:
Terminator X said:
Great idea given the booming housing industry is the only thing keeping the f
king country afloat! Every other sector is still fked and has been since 2008.
TX.
Selling houses to one another at ever inflated prices only gives the illusion of economic growth rather than the reality. king country afloat! Every other sector is still fked and has been since 2008.TX.
1. Those downsizing in the area
2. Those with greater than one property so they leverage the growth and clearly do not have to sleep on he streets selling their own pad
3. Moving to a much cheaper location with the objective of never returning. Ie SE to for instance North Wales - you can get mansions with many acres for the prices of bog standard semi detached or heck even terraced houses
If your on the ladder it's utterly meaningless apart from if you want to step up the gap is more so your taking on more debt.
If you don't own it's stupid deposit levels for the young to find which results in some parents feeding in deposits
GT03ROB said:
Not sure how they can trace overseas property though.....
This is a very good question there is no legal requirement to give that info nor is there any reason for another country to provide that - you might even own a Ltd overseas simply to hold he asset due to local residency issues. If you earn anything that's different but if it's an empty property you use now and then off grid how would anyone know?
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