Rachel Reeves refuses to rule out income tax rises at Budget

[Racehorse]

https://www.bbc.co.uk/news/articles/cgr4g89g1x8o

If this is true and she wants to raise income tax rates, Labour Party are a bigger joke than at present. Time to reduce benefits bill and other wastage of money.

[Phooey]

I hope she has the balls to raise income tax.

[Racehorse]

Phooey said:

I hope she has the balls to raise income tax.

Would not be in line with Manifesto.

Labour party bottled the benefits debate.

[Racehorse]

Labour fears of voter backlash grow as Reeves looks at income tax options

https://www.ft.com/content/6c3fbe9f-7607-49ea-8ff3...

[hidetheelephants]

Raising income tax would be really stupid. Pretty much any alternative tax raising would be preferable.

[The Leaper]

Racehorse said:

Phooey said:

I hope she has the balls to raise income tax.

Would not be in line with Manifesto.

Labour party bottled the benefits debate.

You believe what political parties put in their manifesto? You'll get what you deserve! A manifesto has one purpose: to get the party elected, after which it is pretty meaningless, as this government and many predecessors have shown.

As for a rise in income tax rates this budget, it's inevitable IMO.

R.

[Blue_star]

Thing is that if you reduce government debt risk by keeping positive books then interest rates on borrowing fall which means we need to spend less each year.

Part of me wants to stop this relentless speculation what taxes would be i troduced and just sort out the deficit with income tax.

However, it wont make society more equitable.

I would be more in support of dropping tax brackets.

[Saleen836]

Racehorse said:

https://www.bbc.co.uk/news/articles/cgr4g89g1x8o

If this is true and she wants to raise income tax rates, Labour Party are a bigger joke than at present. Time to reduce benefits bill and other wastage of money.

Benefits to increase by around 4% next year I have read

[ChocolateFrog]

They were stupid to rule out raising any of the big 3.

I feel like they need to and it wouldn't bother me if they added a penny or two on to the base rate if it provided tangible benefits.

But Labour feel like a dumpster fire at the moment and those that only see tax negatively will have a fit. They'd be brave to do it now.

[Terminator X]

Phooey said:

I hope she has the balls to raise income tax.

Should be grounds for another election. If they don't need to do what the said they would do then politics is fked.

TX.

[ATG]

Phooey said:

I hope she has the balls to raise income tax.

Same here

[stuthemongoose]

ATG said:

Phooey said:

I hope she has the balls to raise income tax.

Same here

And unwind the stupid employers NI raise she made last time.

[chrisgtx]

Racehorse said:

Phooey said:

I hope she has the balls to raise income tax.

Would not be in line with Manifesto.

Labour party bottled the benefits debate.

Digital ID wasn’t in the manifesto either.

[Actual]

The new imaginative taxation types that Rachel Reeves has made or is rumoured of making including inherited pensions, farms, stamp duty, CGT on primary residence, pension tax free lump sum and more are unfair because they cause a disproportionate tax burden on just a small part of population who are just unfortunate to get caught in the crosshairs and some of the individual tax amounts could run to many £KKKK. And this targeted taxation doesn't even raise much revenue and what is raised arrives very slowly.

An increase of 1p in the basic rate of tax could be more fair as it affects almost everyone but is proportionate to their income and has the advantage to Rachel Reeves of immediately raising a lot of cash.

Better to have a small amount of pain spread wide.

[Mr Whippy]

Racehorse said:

Phooey said:

I hope she has the balls to raise income tax.

Would not be in line with Manifesto.

Labour party bottled the benefits debate.

Lol, nothing else has been in line with the manifesto… except this, to a huge cost to the economy in both worry and uncertainty, and actual impact.


This promise which we all knew was stupid any way, has arguably cost them a strong start to their term.

Had they just done their tweak to income tax it’d be over and done with, but hitting businesses with NI and all the uncertainty has cost us a second round of rises now.


The benefits will never change as it’ll tear the party apart.

They’re ideological nutters and would rather see the country drive over a cliff to the detriment of all, than see benefits cut a bit for the terminally work shy.

[GT03ROB]

Actual said:

Better to have a small amount of pain spread wide.

Far better to have them deal with the cost side of fhe balance sheet

Edited by GT03ROB on Friday 24th October 21:31

[Simpo Two]

Perhaps the underlying problem is the dumbass electorate for giving them a landslide victory. Is Starmer still planning to lower the voting age to 16, thereby giving children the vote? That would probably see the Green Party elected...

[ATG]

GT03ROB said:

Actual said:

Better to have a small amount of pain spread wide.

Far better to have them deal with the cost side of fhe balance sheet

Edited by GT03ROB on Friday 24th October 21:31

That's a long term challenge, not a fix fair the immediate problem. And there's a lot of capital investment that needs to be funded now. We've been letting a lot of physical infrastructure fall apart, and that's like accumulating an off balance sheet debt.

[GT03ROB]

ATG said:

GT03ROB said:

Actual said:

Better to have a small amount of pain spread wide.

Far better to have them deal with the cost side of fhe balance sheet

Edited by GT03ROB on Friday 24th October 21:31

That's a long term challenge, not a fix fair the immediate problem. And there's a lot of capital investment that needs to be funded now. We've been letting a lot of physical infrastructure fall apart, and that's like accumulating an off balance sheet debt.

So how much of our current spend is directed at necessary infrastructure improvements? In business terms our problem is with OPEX not CAPEX, OPEX is dealt with short term

[130R]

GT03ROB said:

So how much of our current spend is directed at necessary infrastructure improvements? In business terms our problem is with OPEX not CAPEX, OPEX is dealt with short term

This. In the private sector it would be the equivalent of asking shareholders for a budget increase next year when your costs are 99.9% run and 0.1% grow/transform ..