Lizards with different coloured ties
Lizards with different coloured ties
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F i F

Original Poster:

48,916 posts

281 months

Saturday 18th June 2011
quotequote all
Osborne plots £7bn pensions raid

Planning to remove income tax relief for higher rate tax payers.

Puggit

49,821 posts

278 months

Saturday 18th June 2011
quotequote all
Suicide, surely?

I'm not sure how the lefties would react either - that would completely wrong foot them!

anonymous-user

84 months

Sunday 19th June 2011
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Well I'll be moving straight back to the US if they do this.

Jasandjules

72,634 posts

259 months

Sunday 19th June 2011
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Oh FFS, how am I meant to despise the Labour scum for nicking my pensions if the Tories then do the same!!

rasto

2,223 posts

267 months

Sunday 19th June 2011
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The saying 'Dont bite the hand that feeds you' springs to mind.

LC23

1,315 posts

255 months

Sunday 19th June 2011
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Salary sacrifice schemes may be on the up then, unless they also decide to implement legislation against them.

Victor McDade

4,395 posts

212 months

Sunday 19th June 2011
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University---->data entry for the NHS---->folding towels for Selfridges---->researcher at tory central office---->MP then Chancellor.

How the fk did someone with Gideon's lack of experience get this job anyway? Is it any surprise then that he's now making decisions like this.

nelly1

5,666 posts

261 months

Sunday 19th June 2011
quotequote all
LC23 said:
Salary sacrifice schemes may be on the up then, unless they also decide to implement legislation against them.
Ford did this with their pension scheme last year.

shed driver

3,091 posts

190 months

Sunday 19th June 2011
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Victor McDade said:
University---->data entry for the NHS---->folding towels for Selfridges---->researcher at tory central office---->MP then Chancellor.

How the fk did someone with Gideon's lack of experience get this job anyway? Is it any surprise then that he's now making decisions like this.
Born with one of these...


...in one of his orifices.

SD

thinfourth2

32,414 posts

234 months

Sunday 19th June 2011
quotequote all
Jasandjules said:
Oh FFS, how am I meant to despise the Labour scum for nicking my pensions if the Tories then do the same!!
Look you foolish child don't you understand

If labour raid your pension and spend it on useless st in a scrabbling effort to buy more votes they are dirty socialist scum who are only voted for by unemployed scum

It the tories raid you pension and spend it on useless st in a scrabbling effort to buy more votes they are fine upstanding wonderful people who are voted for by clear thinking people and you should be thankful.


Bing o

15,184 posts

249 months

Sunday 19th June 2011
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Bandit said:
Well I'll be moving straight back to the US if they do this.
That will be the tax friendly US that taxes you 30% on global income even if you don't live or work in the US? I think I'll be dropping the SIPP and chucking it into a QROPS ASAP.

Cunch of bunts.

turbobloke

117,363 posts

290 months

Sunday 19th June 2011
quotequote all
Not good.

In comparison to other not good things, this raid on high earner pensions is said to raise £7bn but The Boy George's boss Camoron already forces this country's taxpayers to subsidise the palaces, mansions, private jets, yachts, supercar fleets and designer clothing plus accessories of the third world's entire coterie of despots and tyrants to the tune of about £10bn.

Blue Labour strikes again.

jonah35

3,940 posts

187 months

Sunday 19th June 2011
quotequote all
cant see this happening

the good things are
1. people would stop pension contributions leading to a massive tax grab now which would be good for the government

the bad things
1. no one would save for later life
2. the government would have a ticking timebomb on its hands as people with no pensions retire
3. tories will be voted out
4. pensions industry will fall and all other support services, financial services, advisers, staff, back up staff and so on meaning big job losses


Bing o

15,184 posts

249 months

Sunday 19th June 2011
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jonah35 said:
the bad things
1. no one would save for later life
2. the government would have a ticking timebomb on its hands as people with no pensions retire
3. tories will be voted out
4. pensions industry will fall and all other support services, financial services, advisers, staff, back up staff and so on meaning big job losses
1. Very few are now. Not many seem to save other than the bare minimum.
2. It already does.
3. It's the coalition, and I've not seen anything from the government to warrant their reelection. Just not being Labour is not enough.
4. Let's see how happy people are when the Square Mile becomes a small circle.

JagLover

46,818 posts

265 months

Sunday 19th June 2011
quotequote all
Ending it at the rate you start paying higher rate tax is too low a rate of income.

However I can see the point of some reform, this is supposed to be a way of saving for your retirement, not just merely the most tax efficient form of saving for the rich.

If say, they abolished the 50p tax rate, but paid for it by a reduction in the amount you can attract tax relief on, that could be a good move on tax simplification grounds.

jonah35

3,940 posts

187 months

Sunday 19th June 2011
quotequote all
Bing o said:
1. Very few are now. Not many seem to save other than the bare minimum.
2. It already does.
3. It's the coalition, and I've not seen anything from the government to warrant their reelection. Just not being Labour is not enough.
4. Let's see how happy people are when the Square Mile becomes a small circle.
1. most people who are 40% taxpayers save something, ok the poor don't but most bigger earners do save something and this will now reduce if this goes ahead.
3. they are doing the best they can given what they have inherited and the lib dems are making it tough for them to get their decisions through.
4. very true, financial services is a big player in this country 9% of GDP iirc? it's becoming worthless working unless you earn 100k plus now

jonah35

3,940 posts

187 months

Sunday 19th June 2011
quotequote all
JagLover said:
Ending it at the rate you start paying higher rate tax is too low a rate of income.

However I can see the point of some reform, this is supposed to be a way of saving for your retirement, not just merely the most tax efficient form of saving for the rich.

If say, they abolished the 50p tax rate, but paid for it by a reduction in the amount you can attract tax relief on, that could be a good move on tax simplification grounds.
they've done something along these lines already smile

Ozzie Osmond

21,189 posts

276 months

Sunday 19th June 2011
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Bing o said:
Let's see how happy people are when the Square Mile becomes a small circle.
rofl

Perhaps you can explain why it is justifiable for a high rate earner to be able to buy £10k of pension provision for £5,000 whereas it costs the low earner £8,000?

DieselGriff

5,160 posts

289 months

Sunday 19th June 2011
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There were a number of posters who prior to the general election that expressed the view of OPs title when it came to choosing blue over red.

Unfortunately a number of decisions made by our current Govt seem to vindicate that view. this is just another to the list.

turbobloke

117,363 posts

290 months

Sunday 19th June 2011
quotequote all
DieselGriff said:
There were a number of posters who prior to the general election that expressed the view of OPs title when it came to choosing blue over red.

Unfortunately a number of decisions made by our current Govt seem to vindicate that view. this is just another to the list.
Yes in some policy areas but not all. The ones where Blue Labour seem to copy New Labour inevitably draw attention.