>Instead of raising income tax rates,
the chancellor has decided to freeze
thresholds for two years, a move that
economists estimate will raise
£7.5bn.
> The decision comes a year after
Reeves argued against exactly such
a move. She said in her 2024 budget
speech: “Extending the threshold
freeze would hurt working people, it
would take more money out of their payslips.”
>Other likely tax rises include a move
to end tax breaks for salary sacrifice
pension schemes, raising about
£2bn, and a new tax on electric
vehicles, also estimated to raise £2bn.
> Essentially, the bond market is warning the chancellor that she
cannot merely tax the ‘rich’ to fund
her lavish spending pledges. Either
she broadens the tax base or she
cuts spending.”
Envy based politics doesn't improve things. Spend less money and spend it more cleverly. If Starmer doesn't want to get kicked out he needs to stop scoring own goals.
As for taxing electric cars, it was only a matter of time. It's just too much of a cash cow to ignore.
FridayoLeary•2mo ago
> The decision comes a year after Reeves argued against exactly such a move. She said in her 2024 budget speech: “Extending the threshold freeze would hurt working people, it would take more money out of their payslips.”
>Other likely tax rises include a move to end tax breaks for salary sacrifice pension schemes, raising about £2bn, and a new tax on electric vehicles, also estimated to raise £2bn.
> Essentially, the bond market is warning the chancellor that she cannot merely tax the ‘rich’ to fund her lavish spending pledges. Either she broadens the tax base or she cuts spending.”
Envy based politics doesn't improve things. Spend less money and spend it more cleverly. If Starmer doesn't want to get kicked out he needs to stop scoring own goals.
As for taxing electric cars, it was only a matter of time. It's just too much of a cash cow to ignore.