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Posted by: Andrew. Dec 14 2017, 05:57 PM

thread to discuss new budget unveiled today!

I really like some of the proposals MacKay has gave (public sector pay, attainment gap etc) but I can't say the income tax plans are one of them. I consider myself for progressive taxation and I'm glad the really high earners are getting a tax increase but my parents both fall into the 24-44k bracket which is moving from 20 to 21p, I know that doesn't seem like a lot but despite their incomes our family is struggling financially at the moment and this won't help. It helps me as I get a reduction though

Posted by: Doctor Blind Dec 14 2017, 06:37 PM

I'd agree - IIRC the Labour 2017 manifesto pledge was NOT to raise taxes for individuals earning <£80,000/year by introducing a 'new' tax bracket for those earning between £80,000 and £150,000.

Splitting the basic rate into 3 and penalising those earning near the median/average seems a bit regressive as you say.

Posted by: Brett-Butler Dec 14 2017, 06:55 PM

Will be interesting to see if the Scottish Conservatives gain a boost as a result of this tax rise. And if Berwick-upon-Tweed gets a sudden influx of new residents.

Posted by: Doctor Blind Dec 14 2017, 07:07 PM

Though with the 1% cut to the first 2K earned over the threshold it should only start to mean (modest) tax increases for those on incomes >£33K, so it's not quite as bad I originally assumed.

Posted by: 5 Silas Frøkner Dec 14 2017, 07:13 PM

Interesting use of the limited powers that they have. A little tax cut for the poorest will go down well with their base and help them shore up there instead of leaking to Corbyns Labour.

The Tories will scream blue murder but if a journalist did their f***ing job properly they’d collapse like a house of cards as their idea is to take a sledgehammer to budgets and things like free prescriptions that are very popular

Posted by: Suedehead2 Dec 14 2017, 08:54 PM

How long would it take for the saving in income tax to pay for the stamp duty on the new house? That's before all the other expenses involved with moving.

Posted by: Brett-Butler Dec 14 2017, 09:04 PM

I never said that the people who would do such a thing were the types of people to think rationally...