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DT: Theresa May paves the way for tax rises, increase in foreign spending and end of the pensions triple lock

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Telegraph: Foreign aid spending up, taxes could rise and pensions under threat if Conservatives win election

Quote

Mrs May was asked if the Conservatives will commit to the triple lock on pensions.

Mrs May said: “What I would say to pensioners is just look what the Conservatives in government have done.

“Pensioners today £1,250 a year better off as a result of action that has been taken.

“We were very clear about the need to ensure that we support people in their old age and that’s exactly what we have done.”  

Meanwhile, Mr Hammond has hinted that the Conservatives will not repeat promises made in 2015 not to increase tax.

The Chancellor told the IMF spring meeting in Washington that pledges not to increase income tax, national insurance and VAT “do constrain the ability of the government to manage the economy flexibly”.

When asked repeatedly whether the Tories will reaffirm their 2015 tax promises he said the pledges "will be different".

He said: “I’m a Conservative I didn’t come into politics because I believed in higher taxes. I believe in lower taxes. And I want to see Britain as a high skill, high unemployment, high growth, low tax economy. I say low tax, I mean sensibly taxed economy.

Telegraph doing a guardian?

Edited by Fairyland

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I can't help feeling she's too sensible and responsible to be a politician.

The pensions triple lock is unlikely to be affordable indefinitely, but it takes a brave politician to say it.

Something needs to be done about the budget deficit, to make the economy less vulnerable to external financial forces post-brexit. Ruling out tax rises would be irresponsible.

I don't really understand foreign aid, but I assume it serves the dual purposes of winning left-leaning Conservative voters and exerting influence abroad without dropping bombs on people.

 

Edited by BristolBuyer
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....how old do you have to be nowadays to benefit from the triple lock....almost seventy?.......all or nothing.

Taxes on the little income people work hard all week earning in the economy is bad.....taxes on the goods people need and have to buy with that income is unfair......taxes on wealth people gain from assets and wealth that they just happen to accumulate by death and the gamble of putting away spare and excess income is fairer....if there has to be choices, the choice is obvious, clear cut and justified......not difficult.;)

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Great news about the triple lock. 

Goes without saying that taxes will be rising across the board post-Brexit.

If the OAPs are going to vote for something expensive, they should most certainly be involved in paying for it.

 

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18 minutes ago, Futuroid said:

Great news about the triple lock. 

Goes without saying that taxes will be rising across the board post-Brexit.

If the OAPs are going to vote for something expensive, they should most certainly be involved in paying for it.

 

Taxes were rising across the board  pre-Brexit.

 

besides we're already on the hook for UK's banks, I'll pass on the French/German/Spanish/Italian banks...

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'He said: “I’m a Conservative I didn’t come into politics because I believed in higher taxes. I believe in lower taxes. And I want to see Britain as a high skill, high unemployment, high growth, low tax economy. I say low tax, I mean sensibly taxed economy.'

He says "high unemployment", but what does he mean?

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24 minutes ago, 24 year mortgage 8itch said:

Taxes were rising across the board  pre-Brexit.

Haha, only little drips and drops. Look at all the kerfuffle about the 1% NI rise for the self employed?

5 years from now they will be begging for rises as low as that ;)

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Given that war across the globe is more or less baked in for the next 5 years you can bet your sweep bippy taxes are going up.

I expect the pension triple lock, VAT, Income Tax, NIC and House Prices are going to be the least of our worries.

Peak rate of income tax in World War 2 was 99.5 p in the pound.

You have been warned

 

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4 minutes ago, stormymonday_2011 said:

Given that war across the globe is more or less baked in for the next 5 years you can bet your sweep bippy taxes are going up.

I expect the pension triple lock, VAT, Income Tax, NIC and House Prices are going to be the least of our worries.

Peak rate of income tax in World War 2 was 99.5 p in the pound.

You have been warned

 

Happy Friday

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2 hours ago, winkie said:

Taxes on the little income people work hard all week earning in the economy is bad.....taxes on the goods people need and have to buy with that income is unfair......taxes on wealth people gain from assets and wealth that they just happen to accumulate by death and the gamble of putting away spare and excess income is fairer....if there has to be choices, the choice is obvious, clear cut and justified......not difficult.;)

The problem with that is not all taxes are equally easy to avoid paying.

This is an old article but still an interesting read:

https://www.forbes.com/sites/forbesleadershipforum/2012/01/04/what-obama-needs-to-learn-from-china-about-taxes/

 

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Also the Conservatives have indicated that immigration is not about numbers - so Brexiters might be upset when the metaphorical flood gates open.

I say this again, but I'm a life long Conservative voter, and right now I am very unimpressed by the the Conservatives as they have general anti-wealth and anti-business stance.

Whilst I get some businesses will like the increase in immigration that the Conservatives will bring about, my personal issue is that they look set to raise taxes.

 

 

 

Edited by Mikhail Liebenstein

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They should get on with the job of merging income tax and NI. Everybody knows it should be done, now is a good time to do it while Labour are in disarray.

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4 hours ago, Futuroid said:

Great news about the triple lock. 

Goes without saying that taxes will be rising across the board post-Brexit.

If the OAPs are going to vote for something expensive, they should most certainly be involved in paying for it.

 

 

And when all the care workers leave, they can also sit and gently marinade in their own p1ss. Good old Brexit.

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21 minutes ago, malk said:

Do I sense some folks coming to the realisation that the Tories don't give a hoot about anyone but the super rich?

Not really.

Not that many super rich. One man, one vote.

A polotical party will chase the most votes.

Labour seem to be doing the opposite. If theres one thing ive heard from so many people its Ive always vited Labour but Im voting Cobpnservative this time.

Im fascinated what the results will be in the NE.

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3 hours ago, spyguy said:

Im fascinated what the results will be in the NE.

Spotted on the twitters - I take it with a pinch of salt but it rings true.

Quote

Mark Wallace @wallaceme  

Tory canvasser in County Durham last night had a former miner, lifelong Labour, ask for a Tory poster. This does not normally happen.
 
Edited by Lambie

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11 minutes ago, monkeyman1974 said:

Appreciate I live in an echo chamber but does any really support the foreign aid budget? We are borrowing money daily, some of which we give away.

Well done to her on the triple-lock

People with no skin in the game (insulated by wealth) support foreign aid.

 

They care about looking good not doing good.

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13 hours ago, Digsby said:

'He said: “I’m a Conservative I didn’t come into politics because I believed in higher taxes. I believe in lower taxes. And I want to see Britain as a high skill, high unemployment, high growth, low tax economy. I say low tax, I mean sensibly taxed economy.'

He says "high unemployment", but what does he mean?

High unemployment is always preferred by governments as it provides a handy scapegoat, keeps wages down and keeps the work force fearful of losing their jobs so making them more compliant.  Unusual for a politician to be truthful though. 

Edited by StainlessSteelCat

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9 hours ago, Mikhail Liebenstein said:

And when all the care workers leave, they can also sit and gently marinade in their own p1ss. Good old Brexit.

Loves immigration for the cheap labour.

 

What a good socialist......

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14 minutes ago, monkeyman1974 said:

Appreciate I live in an echo chamber but does any really support the foreign aid budget? We are borrowing money daily, some of which we give away.

Well done to her on the triple-lock

Foreign aid budgets are a mixture of subsidies for big business and projection of soft power.  Given the billions wasted on war and it's limited ability to change minds, it's probably quite good value. 

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