Labour’s Rachel Reeves rules out increasing income tax or NI

8 comments

1. I don’t even know what that means. I doubt she’s ruling out freezing thresholds, so it’s a bit of nonsense really.

2. Labour just seem to be ruling out doing anything at all.

   The Tories are kicking themselves in the balls.

   This election’s going to be a fucking disaster isn’t it.

3. Increase it for those who can afford it and there a lot of them!

4. The woman who said Labour wants to be tougher on benefit claimants than the tories. Vile human being.

5. She really reminds me of Nicola Murray. That series was art.

6. I’m expecting a massive U turn on this. Before or after the election, but it will happen. Where do they think funding will come from? Fairies?

7. So I presume they are planning to rely on “fiscal drag” I mean fine I suppose?

8. Taxing income versus taxing wealth is a completely fruitless and regressive idea.

   I’m on 200k/year and I’m not remotely rich. I’ve been on 20/30k and my life has barely changed. An outside observer would genuinely see no difference, and the only difference I see is that number goes up in my pension and ISA faster than it used to (regular, spendable savings are no-go because the tax burden is so oppresive). The broader economic environment is so precarious that lifestyle creep is not safe.

   It’s obviously not going to win any sympathy, but what I’m saying is that unless you have income generating assets, it’s all shades of the same grey drudgery regardless of salary.

   Tax wealth, not income.