27 Aug
9:28pm, 27 Aug 2024
19,944 posts
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NDWDave
Interesting article about the NBA and its links to Rwanda. espn.com Interesting to compare it with the conservative government’s comments on Rwanda |
27 Aug
9:34pm, 27 Aug 2024
6,294 posts
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paulcook
Arsenal still have links with Visit Rwanda and no plans to get rid either.
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27 Aug
9:46pm, 27 Aug 2024
196 posts
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Yakima Canutt
So we're all surprised that Starmer/labour are as disingenuous as the conservatives. Here is the IFS back in May 2924 pointing out the chickens that have come home to roost. bbc.com Here is my predictions and thoughts. 1. Tax relief on Pension contributions are going to get a hammering (no immediate pain here see). I also hope tax free lump sum tax free pension is stopped. Tax free on the way in and a slug of tax free lump sum out is obscene. 2. Capital gains taxed like income. Save the exceptions please for small business owners like my wife whose company is essentially the pension pot please. Hit soft gains like profit from getting planning permission and making a song. Also this won't bring in much value as lots of options to work around and the very wealthy can effectively plan to chose the date tax is paid through planning. 3. A few on this thread seems to equate that we can fund the NHS and everything we think we need if only we taxed the rich 2% or so more. Erm no. Funding for the sort of levels being thought of there means deep tax rises for all including average income households. 4. If tax rates go up it exposes even now more the painful differential between rUK and Scotland then SNP need to reconsider this and will bring home even more just how crap they are are day-to-day financial housekeeping. 5. Wealth tax won't happen. Mainly because it's not actually a tax - it's asset confiscation, comrades! 6. Why doesn't the government just borrow more? 8.5% of government spending 22/23 was on interest. That is half the NHS budget or equivalent to social services (less what is spent on pensioners). An interest rate cut brings in about as much extra spending as a big tax raising announcement. Given that during COVID we splurged spending to save the salary of adults like me and created huge issues for kids going through school I would rather my generation paid that back than lump the cost on my kids and future. Like I said pensions. If the odds in favourite and they break no manifesto pledges in doing it. |
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27 Aug
9:48pm, 27 Aug 2024
197 posts
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Yakima Canutt
And hello again fields. 👋
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27 Aug
10:08pm, 27 Aug 2024
32,961 posts
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Johnny Blaze
I doubt the 25% tax free thing will go, but who knows. The tax on land sale windfalls must be a runner given the house building targets being floated. I think Corbo was keen on this. CGT and non doms plus 2nd homes are my best guess. Transaction taxes on online sales by tax dodging gets like Amazon must be in the frame as well. |
27 Aug
10:22pm, 27 Aug 2024
28,290 posts
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TROSaracen
I’m in the process of pulling my remaining tax free 25%’s. Just in case. I doubt it will go completely; but I think it will get changed somehow. Something along the lines of massively reducing the cap/tiering the % (first £100k pot you can take 25%, next £100k 20% etc) combined with not being available until state pension age which may slow the early retirements. |
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27 Aug
10:30pm, 27 Aug 2024
32,962 posts
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Johnny Blaze
So you can get less than 25% tax free, which presumably means most people could either: Reduce the amount they take out tax free and they would have a bigger pot to be taxed on. Could take a long time to show results? Take out the same amount as before but pay "some" tax on it. Why would I do that voluntarily? Complicated innit? Last I looked there was about 6 trillion in pension pots in the country. A 1% levy would bring in 60 billion quid and of course most people wouldn't see any short term pain at all. But it wouldn't be popular! |
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27 Aug
10:33pm, 27 Aug 2024
32,963 posts
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Johnny Blaze
Probably more like 2 trillion not 6. I may be confusing with total property values.
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27 Aug
10:34pm, 27 Aug 2024
32,964 posts
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Johnny Blaze
8.7 Trill in property. How would the Chancellor get her hands on a slice of that I wonder.
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27 Aug
10:35pm, 27 Aug 2024
4,412 posts
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Cheg
The pension provision in this country is a shambles already. We should be encouraging provision not hammering people who do. £12k state pension isn’t going to cut it and with a pension age of 68 and only going one way we need some private provision.
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