UK budget changes to be the same here?

[P.K.]

10 minutes ago, Cambon said:

We'll, they cut fuel duty earlier this year by about 8%. So, in reality it is just going back to what it was plus an adjustment for inflation, plus the obligatory VAT.  

The real point is that during the gas crisis, there has not been a shortage of petrol or diesel, but the prices have gone up in sympathy. Petrol over here at the moment is £159.9. It should be around £149.9, maybe a touch less. 

The price of fuel is dear to the heart of everyone who has a vehicle.

Not mentioning it is pure populist politics.

Like not mentioning millions of children living in poverty, the damage the totally stupid and completely unnecessary brexit has done to the economy etc etc

[Banker]

48 minutes ago, P.K. said:

What a bunch of f~cking shysters:

OBR: fuel duty going up in March

Jeremy Hunt didn’t mention this in his statement, but the Office for Budget Responsibility says fuel duty is set to rise by 23% next March.

This will add £5.7bn to tax receipts next year, which would be a record cash increase, the budget watchdog says.

It would be the first time that any Government has raised fuel duty rates in cash terms since 1 January 2011.

It is expected to raise the price of petrol and diesel by around 12p a litre, the OBR adds.

Should have started the electric vehicle tax at same time! Alex wiybe happy as several £m in tax receipts 

[Pipsqueak]

4 hours ago, John Wright said:

Actually it’s 23.8% for most employed people. 11% by the employee and 12.8% by the employer. Subject to lower and upper earnings limits. I was rounding for convenience.

ah i see,   i was just thinking from an employee point of view or self employed.  

[genericUserName]

There are one or two sectors here which could pay a little bit of tax (like the banks do) without them throwing the dummy and going somewhere else. Provided the IOM remains significantly more competive than other places.

[John Wright]

23 minutes ago, Pipsqueak said:

ah i see,   i was just thinking from an employee point of view or self employed.  

It was illustrative for the purpose of showing, in stark terms,  that we are highly taxed already. But there are exceptions. The ones I identified plus capital taxation ( capital gains, wealth tax and inheritance taxation ).

And those are non progressive, regressive, from a taxation view point. They mean that the poorest and middle earners pay a much greater proportion of their income in tax than the highest earners.

If we want great, or even good, health and social welfare, and education, and a move to a greener future it has to be paid for. Either by individuals privately ( leaving many without ) or by sharing the burden and benefits through the medium of tax funding and universality of provision.

[Apple]

Presumably we will have to share the burden of the Truss budget. Reports suggest she has cost the UK around £30 billion. 

Will the Conservatives ever apologise or give us an extra Bank Holiday to make up for it? 😀

 

[Gladys]

5 hours ago, John Wright said:

They don’t pay NI. Employers, employees, self employed, nada

Because shareholders are not employed by the company.  Unless they are also directors, or even employees. 

The tricky bit is when a shareholder with no official position in the company still 'runs' it.  It is a part of the "entrepreneurial pysche" to have an adversity to not getting involved. 

ETA to correct. 

Edited November 17, 2022 by Gladys

[offshoremanxman]

6 hours ago, GreyWolf said:

If you can afford a leccy car you can afford to pay road tax.

It will be worth going on Twitter tonight just to read the self-righteous meltdowns from EV owners following this. 

[Banker]

22 minutes ago, John Wright said:

It was illustrative for the purpose of showing, in stark terms,  that we are highly taxed already. But there are exceptions. The ones I identified plus capital taxation ( capital gains, wealth tax and inheritance taxation ).

And those are non progressive, regressive, from a taxation view point. They mean that the poorest and middle earners pay a much greater proportion of their income in tax than the highest earners.

If we want great, or even good, health and social welfare, and education, and a move to a greener future it has to be paid for. Either by individuals privately ( leaving many without ) or by sharing the burden and benefits through the medium of tax funding and universality of provision.

We need to bring in capital gains, wealth/inheritance taxes & higher NI to fund better infrastructure, health, schools etc

[Apple]

46 minutes ago, Banker said:

We need to bring in capital gains, wealth/inheritance taxes & higher NI to fund better infrastructure, health, schools etc

And what impact will that have on the people who live here, or are struggling with their economic situation here at the moment. Will it attract investment and prompt businesses and people to move here? If so, bring it on.

[Annoymouse]

I just wish I had the luxury of a stocks & shares ISA like UK residents do, dividend tax on top of account charges is going to be pretty shit.

[Ringy Rose]

7 hours ago, Nom de plume said:

Unconfirmed reports that they are looking at a money grab from company owners & Directors who take dividends.

You mean "treating dividends the same as other income".

I hope they sort out that gap where you can earn enough to claim full NI contributions without actually paying any NICs. 

[mad_manx]

2 hours ago, offshoremanxman said:

It will be worth going on Twitter tonight just to read the self-righteous meltdowns from EV owners following this. 

I have an  EV as a second car. I think its fair that EV users also pay their share of  tax..Most sensible Ev owners whom I know also don't mind the same .

Obviously there are  few who don't have common sense who whine all the time.. 

Edited November 17, 2022 by mad_manx

[Banker]

1 hour ago, Apple said:

And what impact will that have on the people who live here, or are struggling with their economic situation here at the moment. Will it attract investment and prompt businesses and people to move here? If so, bring it on.

Well if the level of capital gains & wealth tax is set high enough it won’t impact the vast majority of working population & NI should be paid on all earnings not just upto £51k or whatever level is at present 

[2112]

The UK National Minimum Wage is rising from £9.50 Per hour to £10.42 per hour from April 2023. It will rise here. Whether some businesses can sustain extra costs remains to be seen.