| Starmer’s definition of working people. on 18:59 - Oct 25 with 1429 views | Swansea_Blue |
| Starmer’s definition of working people. on 18:10 - Oct 25 by Churchman |
What Starmer should have said is that Labour will rinse all those it doesn’t think vote for them.
Old codgers who don’t matter because they contribute nothing to the economy (presumably Sir Kier Freebie and the crew don’t think old people spend any money), rich people which by definition must include all those living on savings and lastly renters because to buy a house to rent, you must be rich.
Oh, nearly forgot - people who inherit because it isn’t enough that for the deceased parents, for example, paid tax all their lives and saved to leave something to their children. HMG want a big piece of that pie all over again and possibly a third nibble if rumours about CGT from the point of original purchase are true (very doubtful).
This unreasonable rant in no way means the tories didn’t deserve to be thrown out. They did, for at least a couple of generations. That unsavoury shower would be facing charges and long sentences for crimes against the people if I was made Emperor for life - which I of course deserve.
I suspect Labour are shipping out lots of bad news, real and fiction, so that when Reeves burbles on next week people will say ‘oh, that wasn’t so bad’. |
CGT from point of purchase would be madness. We may as well give all our homes to the Govt now. Very doubtful, as you say. |  |
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| Starmer’s definition of working people. on 18:59 - Oct 25 with 1430 views | OldFart71 |
As a pensioner I am worried. Taking away the winter fuel payment was a blow. In reality I can manage without it. But it is just the principle of doing it whilst if you are on benefits you can claim loads of things. I worked from when I was a teenager through to 71 years of age. I have never claimed a penny from the Government. I still pay tax. The Government have stated that the Triple Lock for pensioners will remain. Therefore an increase on the State Pension of around £400. Take away the winter fuel payment it's cut to £200. Then I will pay another £80 in tax therefore my increase next year will be £120. No doubt Council tax will increase by at least £5 a month so that leaves me with £60. Then all insurances, household and car will increase. We have already been told water will increase. Fuel duty that has been frozen may come back again. That is without any further measures of taxation via the backdoor. In order to get Britain working as it should it will take 20 years or more. Our roads are full of pot holes, the water companies are being allowed to raise prices to do a job they should be doing anyway.To produce clean drinkable water and not be polluting rivers and seas. Instead they pay huge dividends to shareholders and board member. Why does Anglian water need to advertise. We have no choice as to whom we receive our water. The NHS is totally broken. They have a computer system where one isn't linked to another so a patients history can't be view. Prisoner in jail have more money spent on them for food than a person in hospital. But they are overcrowded and run down. I sometimes wonder if Marcus Evans has been running Britain for the last 20 or 30 years. |  | | |
| Starmer’s definition of working people. on 19:04 - Oct 25 with 1411 views | BanksterDebtSlave |
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| Starmer’s definition of working people. on 19:19 - Oct 25 with 1386 views | Churchman |
| Starmer’s definition of working people. on 18:46 - Oct 25 by jontysnut |
I don't mind paying a bit more tax in return for investment in better public services and reducing inequality. I'm happy for those who earn a lot to pay a little bit more. It's unfashionably Old Labour but there you go. |
There’s nothing in my post or any other I’ve put on this board that suggests otherwise. |  | | |
| Starmer’s definition of working people. on 19:21 - Oct 25 with 1377 views | Swansea_Blue |
He didn’t precisely conform to the dress etiquette at the Cenotaph though. Swings and roundabouts innit. | |
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| Starmer’s definition of working people. on 19:24 - Oct 25 with 1373 views | redrickstuhaart |
Sounds spot on to me.
People with substantive assets earning them money are surely a fair target for tax? | | | |
| Starmer’s definition of working people. on 19:25 - Oct 25 with 1365 views | BanksterDebtSlave |
| Starmer’s definition of working people. on 19:21 - Oct 25 by Swansea_Blue |
He didn’t precisely conform to the dress etiquette at the Cenotaph though. Swings and roundabouts innit. |
The public gets what the public wants! | |
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| Starmer’s definition of working people. on 19:27 - Oct 25 with 1357 views | redrickstuhaart |
| Starmer’s definition of working people. on 18:59 - Oct 25 by Swansea_Blue |
CGT from point of purchase would be madness. We may as well give all our homes to the Govt now. Very doubtful, as you say. |
CGT has a main residence exemption. If you inherit a house which has increased in value massively, why not pay tax on the gain? | | | |
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| Starmer’s definition of working people. on 19:34 - Oct 25 with 1342 views | bournemouthblue |
| Starmer’s definition of working people. on 18:46 - Oct 25 by jontysnut |
I don't mind paying a bit more tax in return for investment in better public services and reducing inequality. I'm happy for those who earn a lot to pay a little bit more. It's unfashionably Old Labour but there you go. |
For Tories, tax is often a dirty word, even though they have brought us to the highest tax threshold in memory
I know a friend of mine told Ben Gummer on the doorstep that they were happy to pay more tax if the services were better and she said he struggled to compute that scenario
I see Glassers' suggesting this 'working people' thing was a flagship policy, if of course you can suggest anything about their manifesto was flagship, it was all pretty dull and safe in fairness but that was enough to oust the Tories, none of which I'm sure anybody including Tories themselves actually miss if they are honest with themselves
Pinewood sounds like they wouldn't vote Labour even if they gave them policies they actually agreed with
We'll see what the detail of the budget actually is, at the moment it's speculation whipped up by the right wing press |  |
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| Starmer’s definition of working people. on 19:34 - Oct 25 with 1333 views | EddyJ |
| Starmer’s definition of working people. on 18:59 - Oct 25 by OldFart71 |
As a pensioner I am worried. Taking away the winter fuel payment was a blow. In reality I can manage without it. But it is just the principle of doing it whilst if you are on benefits you can claim loads of things. I worked from when I was a teenager through to 71 years of age. I have never claimed a penny from the Government. I still pay tax. The Government have stated that the Triple Lock for pensioners will remain. Therefore an increase on the State Pension of around £400. Take away the winter fuel payment it's cut to £200. Then I will pay another £80 in tax therefore my increase next year will be £120. No doubt Council tax will increase by at least £5 a month so that leaves me with £60. Then all insurances, household and car will increase. We have already been told water will increase. Fuel duty that has been frozen may come back again. That is without any further measures of taxation via the backdoor. In order to get Britain working as it should it will take 20 years or more. Our roads are full of pot holes, the water companies are being allowed to raise prices to do a job they should be doing anyway.To produce clean drinkable water and not be polluting rivers and seas. Instead they pay huge dividends to shareholders and board member. Why does Anglian water need to advertise. We have no choice as to whom we receive our water. The NHS is totally broken. They have a computer system where one isn't linked to another so a patients history can't be view. Prisoner in jail have more money spent on them for food than a person in hospital. But they are overcrowded and run down. I sometimes wonder if Marcus Evans has been running Britain for the last 20 or 30 years. |
"As a pensioner"..."I have never claimed a penny from the Government"
The state pension is a benefit, the same as any other benefit. Disabled, sick and unwillingly unemployed people are not freeloaders, any more than pensioners are. People who are on benefits are usually deserving of said benefits. | | | |
| Starmer’s definition of working people. on 19:41 - Oct 25 with 1330 views | Pinewoodblue |
| Starmer’s definition of working people. on 19:27 - Oct 25 by redrickstuhaart |
CGT has a main residence exemption. If you inherit a house which has increased in value massively, why not pay tax on the gain? |
If you inherit a house it is possible there has already been inheritance tax paid on the estate. Sell the house and CGT only due on any profit after allowances taken into consideration. |  |
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| Starmer’s definition of working people. on 19:44 - Oct 25 with 1325 views | Ryorry |
| Starmer’s definition of working people. on 18:01 - Oct 25 by jontysnut |
What would you have done differently? They've been in for 4 months. It takes me that to get a doctor's appointment. |
In brief on phone -
Would NOT have axed WFA for pensioners on very low incomes (eg £13k p/a) but not in receipt of pension credit - at least graduate the threshold.
WOULD have increased income tax by 1p for services generally instead, fairest form of taxation; would have looked into the possibility of another 1p specifically ring fenced for the NHS.
WOULD have gone after tax dodgers like Google and other large corporations, and said so - woulda been popular and immediately got people on side. |  |
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| Starmer’s definition of working people. on 19:49 - Oct 25 with 1311 views | J2BLUE |
| Starmer’s definition of working people. on 19:44 - Oct 25 by Ryorry |
In brief on phone -
Would NOT have axed WFA for pensioners on very low incomes (eg £13k p/a) but not in receipt of pension credit - at least graduate the threshold.
WOULD have increased income tax by 1p for services generally instead, fairest form of taxation; would have looked into the possibility of another 1p specifically ring fenced for the NHS.
WOULD have gone after tax dodgers like Google and other large corporations, and said so - woulda been popular and immediately got people on side. |
The Tories should be put on trial for cutting NI. |  |
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| Starmer’s definition of working people. on 19:51 - Oct 25 with 1310 views | Swansea_Blue |
| Starmer’s definition of working people. on 19:27 - Oct 25 by redrickstuhaart |
CGT has a main residence exemption. If you inherit a house which has increased in value massively, why not pay tax on the gain? |
Because it’s a personal tax liability and all/most of the gain would have been under the previous ownership. I’ve no problem with CGT on gains made following acquisition of the property. But to have the benchmark as some time back in the 70s or 80s when the house was purchased by someone else for £12k seems perverse. It’ll never happen. | |
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| Starmer’s definition of working people. on 20:00 - Oct 25 with 1291 views | gtsb1966 |
| Starmer’s definition of working people. on 16:56 - Oct 25 by BlueBadger |
Interesting to see so many people already here leaping to the defence of spongers who don’t actually work for a living. |
Yeah bloody pensioners. |  | | |
| Starmer’s definition of working people. on 20:02 - Oct 25 with 1285 views | Pinewoodblue |
| Starmer’s definition of working people. on 19:34 - Oct 25 by bournemouthblue |
For Tories, tax is often a dirty word, even though they have brought us to the highest tax threshold in memory
I know a friend of mine told Ben Gummer on the doorstep that they were happy to pay more tax if the services were better and she said he struggled to compute that scenario
I see Glassers' suggesting this 'working people' thing was a flagship policy, if of course you can suggest anything about their manifesto was flagship, it was all pretty dull and safe in fairness but that was enough to oust the Tories, none of which I'm sure anybody including Tories themselves actually miss if they are honest with themselves
Pinewood sounds like they wouldn't vote Labour even if they gave them policies they actually agreed with
We'll see what the detail of the budget actually is, at the moment it's speculation whipped up by the right wing press |
Tories started the reference to working people when they reduced NI rates.
As for your comment on my likely voting intentions you would be 100% wrong. | |
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| Starmer’s definition of working people. on 20:20 - Oct 25 with 1265 views | redrickstuhaart |
| Starmer’s definition of working people. on 19:51 - Oct 25 by Swansea_Blue |
Because it’s a personal tax liability and all/most of the gain would have been under the previous ownership. I’ve no problem with CGT on gains made following acquisition of the property. But to have the benchmark as some time back in the 70s or 80s when the house was purchased by someone else for £12k seems perverse. It’ll never happen. |
But main residence exemption....
So only if the deceased has sat on it as an asset.
Currently the best way to avoid tax on non residence property assets is to die and hand it over. It also discourages investment or movement on housing markets. If its coming out of the profit on an asset, that you haven't earned, how can you really complain? | | | |
| Starmer’s definition of working people. on 20:27 - Oct 25 with 1258 views | Churchman |
| Starmer’s definition of working people. on 19:41 - Oct 25 by Pinewoodblue |
If you inherit a house it is possible there has already been inheritance tax paid on the estate. Sell the house and CGT only due on any profit after allowances taken into consideration. |
As it stands now that’s the case. One of the alleged proposals that I don’t believe goes as follows.
Abandonment of the £175k additional IHT exemption for children introduced by the tories, £325k raised to £500k per estate.
When the property is sold, CGT payable against whatever the house cost to buy/value now, so no reset at death.
Naturally that would be would mean that any house bought say 20/30 years earlier would be plundered for CGT. The equivalent tax in the articles I read could be anything up to 55%. A triple tax raid given the previous owners would have paid tax on everything including stamp duty on that house.
Another idea is to impose this retrospectively. There is precedence though it’s rare and I’d say very very unlikely as it’d be impossible to administer (though I can think of a way).
I repeat, I don't think I either will happen. IHT thresholds and rates, obviously they’ll tinker with those and try and drag as many as they can into IHT which is at present what, 4% of estates? | | | |
| Starmer’s definition of working people. on 20:29 - Oct 25 with 1249 views | bournemouthblue |
| Starmer’s definition of working people. on 20:02 - Oct 25 by Pinewoodblue |
Tories started the reference to working people when they reduced NI rates.
As for your comment on my likely voting intentions you would be 100% wrong. |
What policies would you like to see Labour implementing? | |
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| Starmer’s definition of working people. on 20:51 - Oct 25 with 1212 views | Pinewoodblue |
| Starmer’s definition of working people. on 20:29 - Oct 25 by bournemouthblue |
What policies would you like to see Labour implementing? |
I would have preferred them to have gone into the General Election with a comitment to increase income tax by 1p. To have made it clear they would fully review income tax & NI, with consideration being given to increasing the number of tax bands.
Not vote winners, well not for those who are only interested in ‘what’s in it for me’.
There was minimal risk of not winning, but it was a no risk approach. Is ths5 enough of an answer for you? | |
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| Starmer’s definition of working people. on 21:07 - Oct 25 with 1193 views | Swansea_Blue |
| Starmer’s definition of working people. on 20:20 - Oct 25 by redrickstuhaart |
But main residence exemption....
So only if the deceased has sat on it as an asset.
Currently the best way to avoid tax on non residence property assets is to die and hand it over. It also discourages investment or movement on housing markets. If its coming out of the profit on an asset, that you haven't earned, how can you really complain? |
I don’t understand what the residence exemption has got to do with it; that applies to the dweller, which in the case of an inheritance is the deceased. The supposed proposals are that even after inheriting a property and paying any IHT due you would then be liable for CGT on top, back dated to whenever the property was bought. It’s a nonsense. I suspect it won’t happen. I’d be gobsmacked if it happens and is applied retrospectively to properties that have already had their tax settled. | |
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| Starmer’s definition of working people. on 21:29 - Oct 25 with 1140 views | redrickstuhaart |
| Starmer’s definition of working people. on 21:07 - Oct 25 by Swansea_Blue |
I don’t understand what the residence exemption has got to do with it; that applies to the dweller, which in the case of an inheritance is the deceased. The supposed proposals are that even after inheriting a property and paying any IHT due you would then be liable for CGT on top, back dated to whenever the property was bought. It’s a nonsense. I suspect it won’t happen. I’d be gobsmacked if it happens and is applied retrospectively to properties that have already had their tax settled. |
The point being that you dont pay CGT on a main residence. So the deceased hasnt accrued any CGT whilst resident. The idea is that this applies to non main residence properties. Its absolutely right. Why should you dodge CGT in investmenet properties by dying? | | | |
| Starmer’s definition of working people. on 21:49 - Oct 25 with 1102 views | DJR |
| Starmer’s definition of working people. on 21:07 - Oct 25 by Swansea_Blue |
I don’t understand what the residence exemption has got to do with it; that applies to the dweller, which in the case of an inheritance is the deceased. The supposed proposals are that even after inheriting a property and paying any IHT due you would then be liable for CGT on top, back dated to whenever the property was bought. It’s a nonsense. I suspect it won’t happen. I’d be gobsmacked if it happens and is applied retrospectively to properties that have already had their tax settled. |
Speculation in the media that it might happen appears to be based on a misunderstanding of the principles underlying IHT and CGT. [Post edited 25 Oct 2024 22:04]
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| Starmer’s definition of working people. on 23:33 - Oct 25 with 1011 views | ArmaghBlue |
| Starmer’s definition of working people. on 16:53 - Oct 25 by gtsb1966 |
I voted Labour because the last lot were so out of touch with reality (and corrupt to the core) that it was the only way to get them out and with the hope that Starmer and the Labour Party might be a breath of fresh air. How wrong was I. |
Thanks |  | | |
| Starmer’s definition of working people. on 10:28 - Oct 26 with 846 views | Zapers |
| Starmer’s definition of working people. on 19:44 - Oct 25 by Ryorry |
In brief on phone -
Would NOT have axed WFA for pensioners on very low incomes (eg £13k p/a) but not in receipt of pension credit - at least graduate the threshold.
WOULD have increased income tax by 1p for services generally instead, fairest form of taxation; would have looked into the possibility of another 1p specifically ring fenced for the NHS.
WOULD have gone after tax dodgers like Google and other large corporations, and said so - woulda been popular and immediately got people on side. |
But have you costed this Ryorry  | | | |
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