The cost of living... what can we do?

Unfortunately boosting the economy has never done me any good in my lifetime.

So what is doing away with the higher tax rate if its not cutting taxes.

 

I said she doesn't WANT to cut taxes.

 

But she is.

 

Yes, she is. To boost the high rollers. A penny off basic income tax and no increase in National Insurance will annually save me about the price of a gallon of petrol.

 

The latest tax cuts do very little for the majority. And worse than that, for those of us with kids who will want a house in the future, or for young adults waiting to get onto the property ladder, it's a bit of a disaster.

Abolishing the higher rate income tax just means those that earn loads already will suddenly have a lot more money, and seeing as nobody trusts pension schemes anymore, they likely want to invest in property. This is especially true given that the government has just taken away the incentive for higher earners to invest more in their pensions, as now they'll be getting 19% tax relief on their pension savings instead of 45%.

If I were a betting man, I'd wager a significant rise in house prices over the next few years. Great news for those with investment properties. Terrible for anyone just wanting to buy a home to live in.

 

It is only the 45% tax rate they are doing away with. The 40% rate will still be in place.

 

Oh well, I can breathe a sigh of relief there then.

 

Beam me up Scotty....
Jenny namaste
Ref. Star trek

 

The Tories will be toast at the next general election, would Truss have ever been elected PM if not for the mess we are in. Personally, I believe the Tories have no intentions of trying to win the next election.

 

Not really, their only answer is always the same.
A windfall tax on energy producers, but its been proven that would only raise a fraction of what is required.
They just keep saying what needs to be done without saying how.

I think I could do that.

 

The great British pubic showed their true colours years ago when they decided David Cameron was more credible than Ed Milliiband. The former looked good in a suit and was English born and bred, the latter was a very knowledgeable geek with a non British ancestry.

Policy counts for nothing. It all comes down to who tabloid readers find least offensive.