Top 5 financial things to do before labour get in?
Discussion
sugerbear said:
I am not sure the teachers are necessarily better, they just have less children to teach and can dedicate more time to teaching (certainly in the school that i am aware of). Having roughtly 70% of the workload of a state teacher much be an absolute game changer. 30% less people to teach, 30% less papers to mark and so on and more resources. There is normally provision for weekend activities which from my own state school days was always on the good will of one particular teacher who happened to love a particular sport that made the difference.
Exactly, they've all been through the same tax payer funded courses. Simpo Two said:
sugerbear said:
I am not sure the teachers are necessarily better, they just have less children to teach...
They don't have less children to teach, they have fewer children to teach...Not only that, but paying parents are FAR more invested in their child's education.
In the State sector, there will always be some disruptive kids who have parents who don't give two hoots about things....& therefore the teachers spend all their time trying to control those children instead of teaching.
In the Independent schools, parents will back the teachers if there are any issues...& there are rarely issues, in our experience.
595Heaven said:
We’ve got a couple of S&S ISAs that mature on 7th July… think I’ll be cashing those in early!
Do you think that the Market won’t have already factored in the expectation of a labour government to some extent? Many organisations are already operating on that assumption (look at the VAT on private schools chat for example)
It's a shame that, like many aspects of British society, education has become an extremely polarised issue. I was lucky enough to live in an area of the UK that still had grammar schools in the 1970/80s, but Mrs B's parents sent her private; they considered the cost worthwhile, given that the local comps were more exercises in crowd control than actual education. They were not rich, but both worked hard and long hours to send all their four children to private schools.
In other countries (like here in Switzerland) public sector schools are well-funded, teachers well-trained and pupils well-disciplined. Middle- and high-earning parents here generally send their children to the (highly selective) state schools, as there is no need to spend the extra on private schools, unless their child requires special treatment that may well be more available in the private sector.
Our children both went to the Collège de Genève (age 15-19 then onto university), and were surrounded with pupils from all economic/social backgrounds: asylum-seekers living in hostels, kids from council estates, those from middle-class housing developments and a fair sprinkling of kids living in £5 million mansions in gated communities. But if you didn't pass the end of year exams, you had one chance to redo the year, and if you failed again, would be unceremoniously booted out, regardless of how rich your parents are or aren't
Many private schools are non-French language-based (mostly anglophone) and aimed at the expat community, those that offer UK or US curricula for the progeny of UN/WHO/etc workers (employers pay the fees), and rich locals who absolutely want darling little Nicolas and Léa to 'speek ze ingleesh' in their future careers.
Above all of that, are a few schools which are amongst the most expensive in the world (£130k/year to board at Le Rosey), but they are out of reach of all but the richest locals, and generally cater for the offspring of various dictators, oligarchs, tech billionaires, etc.
In other countries (like here in Switzerland) public sector schools are well-funded, teachers well-trained and pupils well-disciplined. Middle- and high-earning parents here generally send their children to the (highly selective) state schools, as there is no need to spend the extra on private schools, unless their child requires special treatment that may well be more available in the private sector.
Our children both went to the Collège de Genève (age 15-19 then onto university), and were surrounded with pupils from all economic/social backgrounds: asylum-seekers living in hostels, kids from council estates, those from middle-class housing developments and a fair sprinkling of kids living in £5 million mansions in gated communities. But if you didn't pass the end of year exams, you had one chance to redo the year, and if you failed again, would be unceremoniously booted out, regardless of how rich your parents are or aren't
Many private schools are non-French language-based (mostly anglophone) and aimed at the expat community, those that offer UK or US curricula for the progeny of UN/WHO/etc workers (employers pay the fees), and rich locals who absolutely want darling little Nicolas and Léa to 'speek ze ingleesh' in their future careers.
Above all of that, are a few schools which are amongst the most expensive in the world (£130k/year to board at Le Rosey), but they are out of reach of all but the richest locals, and generally cater for the offspring of various dictators, oligarchs, tech billionaires, etc.
Hustle_ said:
clio007 said:
Where do we think houses prices will go under labour?
Labour have been the best part of 20 points ahead for ages and most analysts seem to have been predicting a return to growth at ~2.5% a year. A summer base rate reduction will inevitably stoke interest. We should be able to make an informed estimate where house prices will go.
Envy is a strong component these days. Politicians never use that word, but are happy to encourage such feelings and do see it as a vote winner.
People living in private homes must be weathy, with spare income that should be given to ''hard working' poor people, who are on the social housing (council) waiting list.
Labour has said there will be no rises in income tax or National Insurance, if it wins the general election.
Labour say they will spend on recruiting 16,000 teachers (that is one third of a teacher for every school).
Labour say that will spend on producing 40,000 more NHS appointments per week (an increase of about 3%).
Labour say they will spend on eliminating NHS waiting lists in 5 years (cost gazillions)
The envy lobby obviously don't want to pay for all this huge government spending, and with no income tax or NI tax increases, new taxes must be invented. The property owning bourgeoisie will make an ideal target. A property wealth tax, CGT on home ownership to be paid immediately after every 5 year revaluation and far higher council tax, will hit the housing market. Demand for private homes will consequently reduce and values will only go one way.
There is now very cheap housing available in the best parts of Bristol. The multi-coloured council there are very understanding about the 'homeless' (that includes anyone who fancies a free home), so bring your £200 caravan to Clifton and park it free beside the road.
Word has got round, so very popular now, but free living without hassle is now possible and no need to worry about falling house prices.
Car bon said:
I guess to avoid any potential rounding error and hitting 25.1% ?
I just took 25% of the one I took - I am still trying to decide whether take my other one.
My feeling is that they won't remove it from people who could have already taken it, but may start to ratchet down the percentage for younger folk. Generally pensions are safer the closer you get to being able to access them, rule changes tend to either provide sufficient notice, or protections for those immediately affected.
This makes a little more sense to me although we are talking about labour of course. I just took 25% of the one I took - I am still trying to decide whether take my other one.
My feeling is that they won't remove it from people who could have already taken it, but may start to ratchet down the percentage for younger folk. Generally pensions are safer the closer you get to being able to access them, rule changes tend to either provide sufficient notice, or protections for those immediately affected.
If that's the case ill leave it be, although i'll be ready to take it at the first hint of that changing.
My pal thinks there will be 6 months notice to act.
Kickstart said:
Personally I think that tax raises etc will be more of a slow burn thing once labour comes in - I cannot see them cutting spending and public debt is so huge that the pressure will slowly build to raise taxes that don't affect their voters
My guess is that over a parliament or two CGT will be increased to the same as the top rate of income tax, loss of higher rate pension relief, higher bands of council tax with various other smaller changes
Hopefully I will be wrong
The fiscal drag is the tax rise increase really, so anyone on the different income brackets that are tipping over will carry the burden. They can then all say tax rises not required, other than daft VAT on private education.My guess is that over a parliament or two CGT will be increased to the same as the top rate of income tax, loss of higher rate pension relief, higher bands of council tax with various other smaller changes
Hopefully I will be wrong
The public will largely vote for the party that promises them the most tax cuts. Of course that can't be done - if it was possible the Conservatives would have done it - so the public will end up disappointed, as usual.
I must say that Jeremy Hunt sounds far more in grasp of the position than Rachel Reeves, who just wants to 'tax big business' (not realising that 'big business' will simply put its prices up to maintain margins meaning that Joe Public will pay that way and get inflation too).
I must say that Jeremy Hunt sounds far more in grasp of the position than Rachel Reeves, who just wants to 'tax big business' (not realising that 'big business' will simply put its prices up to maintain margins meaning that Joe Public will pay that way and get inflation too).
Hunt has said the Tories WILL increase taxes. He has maintained fiscal drag will be continued into 2028. And we are scared of Labour?
Reeves is out there fluffing business and the City like nobodies business (she said no bonus cap), and the mood music is - as long as Labour gets a decisive victory (and immunity from the clowns on the left) - its a welcome departure from 14 years of clown club (life long tory). Above all else, business wants stability. She is getting schooled by lots of big names right now on policy, the biggest risk is a narrow victory and lack of authority.
Reeves is out there fluffing business and the City like nobodies business (she said no bonus cap), and the mood music is - as long as Labour gets a decisive victory (and immunity from the clowns on the left) - its a welcome departure from 14 years of clown club (life long tory). Above all else, business wants stability. She is getting schooled by lots of big names right now on policy, the biggest risk is a narrow victory and lack of authority.
Edited by OoopsVoss on Thursday 30th May 12:33
I realise all politicians are economical with the truth but Rachel Reeves does seem to have backed herself into a corner on saying what taxes she won't increase, in an effort not to scare anyone before the election.
I can't see how VAT on school fees and chasing a few non doms will cover anything much at all.
Reeves has ruled out NI or income tax hikes, or corporation tax hikes, and due to fiscal drag the Personal Allowance is well overdue an increase (which would prevent the stupid Tory announcement on Triple Lock Plus pension even being relevant).
So where is all the money going to come from? Aligning Capital Gains Tax with Income Tax seems most likely but they tried to deny even that would change.
Scottish style "progressive" income tax bands? Well, saying you won't raise income tax would make that awkward.
Second/multi home tax increases via council tax? Quite likely.
Joe Bloggs on a sub £100k salary, certainly sub £50k, with net wealth spread across a single non-mansion primary residence, ISAs and pension/SIPP may actually have nothing much to fear from Labour, in financial terms at least.
I guess we have to watch things like GBP devaluation and climbing gilt yields, but the threat of the latter in itself should keep them in line on any bonkers policy.
I can't see how VAT on school fees and chasing a few non doms will cover anything much at all.
Reeves has ruled out NI or income tax hikes, or corporation tax hikes, and due to fiscal drag the Personal Allowance is well overdue an increase (which would prevent the stupid Tory announcement on Triple Lock Plus pension even being relevant).
So where is all the money going to come from? Aligning Capital Gains Tax with Income Tax seems most likely but they tried to deny even that would change.
Scottish style "progressive" income tax bands? Well, saying you won't raise income tax would make that awkward.
Second/multi home tax increases via council tax? Quite likely.
Joe Bloggs on a sub £100k salary, certainly sub £50k, with net wealth spread across a single non-mansion primary residence, ISAs and pension/SIPP may actually have nothing much to fear from Labour, in financial terms at least.
I guess we have to watch things like GBP devaluation and climbing gilt yields, but the threat of the latter in itself should keep them in line on any bonkers policy.
WayOutWest said:
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Joe Bloggs on a sub £100k salary, certainly sub £50k, with net wealth spread across a single non-mansion primary residence, ISAs and pension/SIPP may actually have nothing much to fear from Labour, in financial terms at least.
I guess we have to watch things like GBP devaluation and climbing gilt yields, but the threat of the latter in itself should keep them in line on any bonkers policy.
As I posted before (and have been told by multiple banks research teams), the Trusterf**k budget has clipped any policy exuberance the loons can think up. The bond market IS going to try and test her / them - but the fear in here, is not representative of finance thinking. The property taxes are coming - one way or another, but the UKs problem is how to generate growth (and where). If there is any serious finance flashpoint, its IF or how Labour forces investment into UK companies (something the Tories spoke about but have got cold feet on).Joe Bloggs on a sub £100k salary, certainly sub £50k, with net wealth spread across a single non-mansion primary residence, ISAs and pension/SIPP may actually have nothing much to fear from Labour, in financial terms at least.
I guess we have to watch things like GBP devaluation and climbing gilt yields, but the threat of the latter in itself should keep them in line on any bonkers policy.
OoopsVoss said:
If there is any serious finance flashpoint, its IF or how Labour forces investment into UK companies (something the Tories spoke about but have got cold feet on).
Eh? I'm very peripherally involved in that. It's moving along fine. It might be that changing an entire savings and investments system takes a while. Whoozit said:
Eh? I'm very peripherally involved in that. It's moving along fine. It might be that changing an entire savings and investments system takes a while.
Is the British ISA investment guidelines done (which is what I'm driving at), I'd heard its getting some internal flak for narrowing choice?OoopsVoss said:
Whoozit said:
Eh? I'm very peripherally involved in that. It's moving along fine. It might be that changing an entire savings and investments system takes a while.
Is the British ISA investment guidelines done (which is what I'm driving at), I'd heard its getting some internal flak for narrowing choice?To go back and answer the initial question, I've ensured that my tax residence isn't in the UK, and have informed my tenants that I'll be selling the property that they rent once they are able to find a new home. I'm going to be moving into colnsultancy work rather than on PAYE, and my contracting company too isn't in the UK.
Maybe they'll be fine, but maybe they'll decide that they need the support of their more left-leaning MPs and voters and go a bit Corbyn.
Maybe they'll be fine, but maybe they'll decide that they need the support of their more left-leaning MPs and voters and go a bit Corbyn.
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