Attention: Please take a moment to consider our terms and conditions before posting.

Savings and Investments thread

1…381382383384385387»

Comments

  • golfaddick
    golfaddick Posts: 33,876
    Fortune 82nd Minute said:
    bobmunro said:
    Rob7Lee said:
    Huskaris said:
    Seen that income tax raise has been ditched, interesting to see what fills the void now.

    Also saw the exit tax was ditched, surprised it was considered in the first place seeing as the idea that rich people would leave the UK in order to protect their wealth was just a myth  :D
    But isn't the rumour now she'll change the bands? So same result?

    Is that changing the bands or extending the freeze for another two years (until 2030) as suggested by the Fabian Society?
    It's all total speculation atm but most reports seem to be speculating that its both a freeze on income tax bands and reducing the thresholds where you start paying 40p and 45p tax. 


    The 40% rate of tax is already pretty low. If they reduced it to £47500 or even £45000 then it would be a joke. 
  • cantersaddick
    cantersaddick Posts: 17,134
    golfaddick said:
    Fortune 82nd Minute said:
    bobmunro said:
    Rob7Lee said:
    Huskaris said:
    Seen that income tax raise has been ditched, interesting to see what fills the void now.

    Also saw the exit tax was ditched, surprised it was considered in the first place seeing as the idea that rich people would leave the UK in order to protect their wealth was just a myth  :D
    But isn't the rumour now she'll change the bands? So same result?

    Is that changing the bands or extending the freeze for another two years (until 2030) as suggested by the Fabian Society?
    It's all total speculation atm but most reports seem to be speculating that its both a freeze on income tax bands and reducing the thresholds where you start paying 40p and 45p tax. 


    The 40% rate of tax is already pretty low. If they reduced it to £47500 or even £45000 then it would be a joke. 
    Agreed, its a horrendous idea. Squeezing the already squeezed.
  • BigRedEvil
    BigRedEvil Posts: 11,096
    All this flip flopping about a budget is a poor look. So many rumours since they announced a budget delay in August just get on with it 
  • cantersaddick
    cantersaddick Posts: 17,134
    BigRedEvil said:
    All this flip flopping about a budget is a poor look. So many rumours since they announced a budget delay in August just get on with it 
    Agreed. For all the talk of "adults in charge" after the chaos of the previous 6 years they're using the same bullshit tactics of leak stuff and see how its received. 
  • cantersaddick
    cantersaddick Posts: 17,134
    edited 11:19AM
    I've had a policy idea which I think might work but feel free to shoot down.

    For Branded medicines in the UK we have two pricing schemes for pharma companies who sell in the UK. These set a limit on the revenue that can be made by the sector in the UK in any year and all revenue above that limit is clawed back by the government. Government are very careful not to call this a tax and instead present it as a saving to the NHS as that is the sole purchaser of branded medicines in the UK. However in effect it is essentially a tax and massively limits the profits of the sector. I actually think in the recent past the scheme has been too tight and we risked Pharma companies reactions but the changes to the schemes in 2024 and 2025 seem to have addressed this. There is the Voluntary Scheme: https://www.gov.uk/government/publications/2024-voluntary-scheme-for-branded-medicines-pricing-access-and-growth
    And that is underpinned by a legal backstop that is the statutory scheme:https://www.gov.uk/government/consultations/proposed-review-of-the-statutory-scheme-for-branded-medicines-pricing

    Why can't a similar scheme be applied to other sectors where specific conditions are found (small number of large and powerful companies making economically excess profits from essential goods). For example Energy. That would have the dual benefit of reduced prices for consumers and increased revenue for government. Another one potentially non-luxury food items - given the scale of growth in supermarket profits since the cost of living crisis started and the oligopoly power of the big players in the sector. 

    Any reason why this wouldn't work?

    I don't think there would be any risk of them leaving the UK market as still have massive market power and captive customers.

    Edit: of course I'm not actually expecting this government to do it as their last election campaign was in part funded by those industries so I'm sure that came with promises.
  • paulsturgess
    paulsturgess Posts: 3,899
    all this speculation is mind numbingly tedious and incredibly detrimental to the economy. They should have just shut up, made their decisions and got on with it. However painful the measures are, above all markets, investors and the economy just need clarity and stability. 

    Plonkers. 
  • redman
    redman Posts: 5,301
    golfaddick said:
    Fortune 82nd Minute said:
    bobmunro said:
    Rob7Lee said:
    Huskaris said:
    Seen that income tax raise has been ditched, interesting to see what fills the void now.

    Also saw the exit tax was ditched, surprised it was considered in the first place seeing as the idea that rich people would leave the UK in order to protect their wealth was just a myth  :D
    But isn't the rumour now she'll change the bands? So same result?

    Is that changing the bands or extending the freeze for another two years (until 2030) as suggested by the Fabian Society?
    It's all total speculation atm but most reports seem to be speculating that its both a freeze on income tax bands and reducing the thresholds where you start paying 40p and 45p tax. 


    The 40% rate of tax is already pretty low. If they reduced it to £47500 or even £45000 then it would be a joke. 
    How is this not deemed a tax rise? Do they think we are really stupid? 
  • bobmunro
    bobmunro Posts: 20,968
    redman said:
    golfaddick said:
    Fortune 82nd Minute said:
    bobmunro said:
    Rob7Lee said:
    Huskaris said:
    Seen that income tax raise has been ditched, interesting to see what fills the void now.

    Also saw the exit tax was ditched, surprised it was considered in the first place seeing as the idea that rich people would leave the UK in order to protect their wealth was just a myth  :D
    But isn't the rumour now she'll change the bands? So same result?

    Is that changing the bands or extending the freeze for another two years (until 2030) as suggested by the Fabian Society?
    It's all total speculation atm but most reports seem to be speculating that its both a freeze on income tax bands and reducing the thresholds where you start paying 40p and 45p tax. 


    The 40% rate of tax is already pretty low. If they reduced it to £47500 or even £45000 then it would be a joke. 
    How is this not deemed a tax rise? Do they think we are really stupid? 

    No increase in 'rates' of income tax, VAT or NI for hardworking people. They said nothing about bands.

    That's how they will position it anyway.

Categories

“Marketplace”