Jump to content
House Price Crash Forum
Sign in to follow this  
brownbear

Labour's Tax Bombshell

Recommended Posts

Funny

I hadn't noticed being better off - at all!

Who ever wrote it deliberatley missed the point all chancellors give with one hand and take with another - everyone knows about these trivial give-aways - it is the seriously large amounts of other stealth tax that are the problem

Just one example the average FTB didn't pay stamp duty before 1997 but now the have to pay as very few houses are below 125k

and the average family had to pay 1% stamp duty in 1997 now its 2.5% thus netting the chancellor billions each year

Still my Auntie doesn't have to pay betting tax at the bingo so it's not all bad!

Dont know whop Rodney M Caree or (McAree) is but if he thinks anyone but an idiot will fall for that spin - he must be pretty stupid

CS

Edited by Cornwall Sceptic

Share this post


Link to post
Share on other sites
But wait, Gordon Brown doesn't just raise taxes. He also cuts them. In effect, the 'tax burden' or the average amount we pay in tax is about the same as in 1997, it's just that the balance between the lower earners and higher earners has shifted. 'Middle England' is really not that badly off - How often do we see figures of '£50,000' or '£100,000' as 'middle england' type wages or household incomes, and how many people actually have that kind of money coming in? The Average salary is less than £25,000.

Sort of. Tax credits are a benefit, not a tax cut - people over a certain threshold (i.e. the very wealthy earning a whopping 25K each) won't get very much at all.

Over all of course, the tax burden is definitely up.

But, courtesy of snowflake who got the details from the Treasury, I can list 41 of the tax cuts since 1997 you may not even have noticed! Now we can reveal how that sneaky Mr Brown has been putting money right into your pocket. Do you wonder why you feel better off under Labour, while people around you are moaning...

Thank you Mr Campbell!

1. Cutting VAT on domestic fuel (electicity and gas) from 8% in 1997 to 5% now.

Yes, my fule bills are much lower now, thanks for that! [Paradoxically the tax he receives is probably the same as the bills are higher]

2. Cutting basic income tax from 23% in 1997 to 22%

:lol::lol::lol: Yes, but the bands haven't changed!!! It's a tax RISE you wolly!

3. Introduction of the 10p starting rate of tax (lowest starting rate since 1962) for £2150 of earnings above the personal allowance.

:lol::lol::lol:

4. Cutting large company corporation tax from 33% to 30%
5. Cutting small business corporation tax from 23% to 19%

I don't work in commerce, but I suspect this doesn't make up for the red tape and bureaucracy, and other stealth taxes. Or NI increases.

6. Capital gain tax for long term business assets cut from 40% to 10%

The only business assets doing very well are patches of land. Nice one Gordon!

7. Stamp Duty threshold raised from £60,000 in 1997 to £125,000 now

:lol::lol::lol: Yes, that has done me the world of good!

8. Vehicle excise duty for 38 tonne and 41 tonne lorries cut by 500 pounds; the 40 tonne class lorries rate cut by 1,800 pounds; for all other heavy lorries rates frozen. (2000 budget)
...
11. Abolition of the "stepped" employer N.I. rates, saving companies administration hassles.

Saving the Inland Revenue hassle as well. Well done Gordon.

12. Alignment of the LEL with the Income tax personal allowance. This involved increasing the LEL sharply from £64 per week in 1998 to £87 in 2001 and £97 per week today, which means the exempt threshold has increased by 51% since 1998 (or at a rate of 5.33% per annum, considerably faster than the rate of inflation).
13. Class 2 flat rate of self-employed N.I. reduced from £6.55 to £2.10 per week.

Whatever

14. Freeze on duty on spirits since 1997.

Yes!!! Makes a big difference to my life.

15. Employee shareholders capital gains tax cut to 10%
16. Business investors in new and unquoted companies who invest between 5% and 25% have capital gains tax cut to 10% on investments above 5% held for four or more years
17. For small and medium companies, the 40% capital allowances are made permanent
18. Research and development tax relief introduced for business
19. Tax relief for intellectual property and goodwill introduced (2001 budget)
20. Abolition of withholding tax on payments of interest and royalties between companies in the UK.
21. Abolition of withholding tax on interest paid on international bonds

All very nice but how comes the private secotr is going nowhere fast?

22. Working families tax credit introduced
23. Child tax credit introduced and extended for families who earn £58,000 and below

More chav benefits. Cos let's face it, we have a real shortage of welfare-fed underclass in this country. PLUS he gets to wind up people who just want to provide for their families, rather than take handouts.

24. Introduction of stakeholder pensions which for the first time are available to the unwaged, giving then a tax-free savings vehicle where a contribution up to £2808 also attracts tax relief of 22%.
25. For businesses with turnover of up to £58,000, VAT is not charged at all.
26. To bring disused properties back into use, VAT on residential property conversions cut from 17.5% to 5%
27. For cleaning up contaminated land, an accelerated tax relief, set at 150%
28. To help revitalise high streets, government provided 150% first year capital allowances for bringing empty flats over shops back into the residential market.

More picking at the edges. Some for Gordon to talk about in his budgets.

29. For churchs, for repairs started after April 1st 2001, a new grant, the equivalent of a VAT reduction from 17.5% to 5%. This was further abolished to 0% in the 2004 budget.

They'll be sold offf before long anyway. At least the tax-back for charities was good.

30. Vehicle excise duty abolished for tractors

:lol:

31. Betting duty abolished for pools.

FFS

32. Exemption for companies from corporation tax on the gains from the sale of substantial shareholdings. (2002 budget)
33. Automatic entitlement for business to reclaim VAT on bad debts after six months, introduced for the first time.

---Nodding off---

34. Betting duty abolished for bingo players
FFS As if we need more gambling

Fairly sensible I guess. No substantial effect though.

39. People with disabilities who got back to work entitled to tax credit

How about just low taxes instead, saving the cost of loads of civil servants?

40. Child-care tax-credit introduced for people who place their children in nurseries

nanny state nonsense

41. Vehicle excise duty cut to £0 for cars emitting less than 100 CO2 g/km (saving of £65), cut to £40 for cars emitting between 101-120 CO2 g/km (saving of £35) and cut to £100 for cars emitting 121-150 CO2 g/km (saving of £5).

Yes "green" Britain here we come.

Who knows, that Brown is so sneaky, he could be cutting more taxes AS YOU READ THIS!!!

I f*cking doubt it mate.

Edited by RichM

Share this post


Link to post
Share on other sites

Is brownbear a New Labour mole? He's always putting out these sort of pieces of government trash, designed by a bespectacled policy unit idiot thinking they will spread through the web like wildfire, as everyone suddenly discovers that their hatred of the government is unfounded.

How are you associated with New Labour brownbear?

Just a member now and a not very happy one at that. Used to work for an MP.

Its funny, but when I'm with Labour friends, we spend time having a go about much of Labour policy (its not Left wing enough), but here, where Labour supporters are rarer than icebergs in the Saraha, I feel obliged to point out that the present government is not evil incarnate, and that conservative polocies, where they exist, would make things much worse.

There are a lot of MPs who would support policies that could deflate the housing market, if they understood that it doesn't mean entering a recession (and thus losing an election). I pass on the more sensible comments on here to more influential people than me.

Share this post


Link to post
Share on other sites

Just a member now and a not very happy one at that. Used to work for an MP.

Its funny, but when I'm with Labour friends, we spend time having a go about much of Labour policy (its not Left wing enough), but here, where Labour supporters are rarer than icebergs in the Saraha, I feel obliged to point out that the present government is not evil incarnate, and that conservative polocies, where they exist, would make things much worse.

There are a lot of MPs who would support policies that could deflate the housing market, if they understood that it doesn't mean entering a recession (and thus losing an election). I pass on the more sensible comments on here to more influential people than me.

If you are going to be fair you would have to admit that Gordon Brown was handed the most favourable economic conditions that any chanceller has had in the past 50 years. His has turned this into a good old fashioned boom and bust. I fear that the coming bust may be worse than those of the 70s.

Share this post


Link to post
Share on other sites

Just a member now and a not very happy one at that. Used to work for an MP.

Its funny, but when I'm with Labour friends, we spend time having a go about much of Labour policy (its not Left wing enough), but here, where Labour supporters are rarer than icebergs in the Saraha, I feel obliged to point out that the present government is not evil incarnate, and that conservative polocies, where they exist, would make things much worse.

There are a lot of MPs who would support policies that could deflate the housing market, if they understood that it doesn't mean entering a recession (and thus losing an election). I pass on the more sensible comments on here to more influential people than me.

I am not anti-labour in particular, I am anti Tony Blair.

Following some of his latest facist 'initiatives' such as the removal of jury trial, internment and identity cards I will vote for the candidate most likely to beat the Labour party and reduce Blair's majority.

I cannot understand Labour activists who will still vote for Blair because he is better than the alternative. Blair is the problem, and if voting Tory will get rid of him, so be it.

Share this post


Link to post
Share on other sites
I feel obliged to point out that the present government is not evil incarnate

Right. They only want to turn the entire country into a police state because they love us.

Back in reality, NuLab are the worst government we've had since Labour were last in power, have raised taxes higher than they've ever been since Labour were last in power, and have destroyed more long-standing British freedoms than any other government I can think of.

Evil is too nice a word for them.

Share this post


Link to post
Share on other sites

Evil is too nice a word for them.

Yes, I think there is something demonic about Blair and his vile crew. Mind you, I felt the same way about Thatcher.

Share this post


Link to post
Share on other sites

Just a member now and a not very happy one at that. Used to work for an MP.

Its funny, but when I'm with Labour friends, we spend time having a go about much of Labour policy (its not Left wing enough), but here, where Labour supporters are rarer than icebergs in the Saraha, I feel obliged to point out that the present government is not evil incarnate, and that conservative polocies, where they exist, would make things much worse.

There are a lot of MPs who would support policies that could deflate the housing market, if they understood that it doesn't mean entering a recession (and thus losing an election). I pass on the more sensible comments on here to more influential people than me.

...but let's not forget destroying our education system, uncontrolled immigration, endless public service "targets", non-job creation in the public sector, billions given to pet management consultancies, Laing (PFI), Capita and the like, stealth taxes/increased NI, NHS largely unimproved by the billions poured into it, massive increase in gun and knife crime and alchohol-fuelled violence, obsession with criminalising motorists, debasing the Office of National Statistics so that it is untrustworthy, politicizing the civil service. Oh and a few foreign wars as well...

If it looks like scum, smarms and lies through its teeth and acts like scum, then it is probably NuLab.

:angry:

Share this post


Link to post
Share on other sites

Right. They only want to turn the entire country into a police state because they love us.

Back in reality, NuLab are the worst government we've had since Labour were last in power, have raised taxes higher than they've ever been since Labour were last in power, and have destroyed more long-standing British freedoms than any other government I can think of.

Evil is too nice a word for them.

Charming and reasonable as usual MarkG.

I hope you've been watching Tory, Tory, Tory on BBC2 recently; its fascinating stuff and the riots, mass unemployment (3 million, gizajob mate), flogging off of state assets, creating two dreadful recessions, banning people from travelling in their own country (as were the miners) and helping to create a society that didn't believe in the concept of society (pace Maggie T), well Labour doesn't come close.

Al of the civil liberty and foreign policy calamities - ID cards, Iraq, etc caused by Labour, were whole-heartedly supported by the Tories. I'm glad that the MP I worked for has voted against ID cards, the Iraq war and a whole host of moronic "free market" policies created by Neo cons and implemented by this government.

I suppose my interest in politics is based on karl Marx's quote, "The philosophers (or bloggers as they are now called) have only interpreted the world in various ways; the point, however, is to change it"

Share this post


Link to post
Share on other sites

Evil is too nice a word for them.

If it looks like scum, smarms and lies through its teeth and acts like scum, then it is probably NuLab.

Yes, I think there is something demonic about Blair and his vile crew.

NuLabour summed up quite nicely IMO.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.