Kwarteng tax cut likely to give lowest paid just 63p a month, says IFS | Institute for Fiscal Studies says reversal of national insurance rise likely to benefit richest by £150 a month
Kwarteng tax cut likely to give lowest paid just 63p a month, says IFS | Institute for Fiscal Studies says reversal of national insurance rise likely to benefit richest by £150 a month
22 comments
So the guardian complained the national insurance rise affected the poorest the most and now they are saying a reversal will affect the poorest the least? Which one is it?
>”National insurance rise could mean 1m destitute households in UK, says thinktank”
The Guardian 7 months ago.
Well of course, kwasi is wanting to continue the wholesale looting of the British economy for the benefit of a bunch of tax dodging billionaires who don’t live here that’ve been making this country worse and poorer for the last thirty years.
We’re set to be worse off on a per family basis than Slovenia in 2024 and Poland by the end of the decade. What a fucking embarrassment.
This country sits on the edge of a yawning precipice of societal and economic collapse to a kleptocracy like the USA or Russia, and the only question is do we try and stop the fall, or try to enjoy the ride to the bottom while it lasts.
But I thought the left-wing press had decided the NI rise was evil?
I honestly thought that Kwarteng was the name of a drill rapper
I’m just hoping that the fiscal drag on the 40% PAYE threshold will be addressed but I doubt it.
our public services have already gone to shit, how much worse will it get when taxes are lowered? especially when they’re lowered for the people who should be paying more as it is.
Why is it taxes from The People must be paid, with literally invasive enforcement mandated as the immediate goto for non-payment, but corporate taxes are largely waived, even when those profits leave our economy?
Because this Government is corrupt, and we see it demonstrated here once again.
We’re going full trumpian government now. To quote John Lawrie……Were Doomed! Doomed I tell you…..
If you’re not a millionaire they don’t care about you
The guy that spent the two minutes silence spinning his head around?
A good minimum wage of around £15/hr would benifit the low paid and not the rich. At the sametime lower the lowest income tax rate.
This will put money in peoples pockets meaning they will spend more and get our economy moving.
Also close all the tax loopholes for corperations and very wealthy. Time to get tough on tax aviodance.
No need to raise the upper tax bracket just start collecting it properly.
That’s fair as the rich paid more tax due to the recent increase so naturally they would benefit the most.
Unsurprisingly if you cut taxes, it effects those who pay the most taxes.
Well hey that’s an extra pot noodle from Asda each month, when they’re on sale. And you can put that 3 pence in the bank, save it for a rainy day!
More proof this government doesn’t care about ordinary people. How much longer do we have to put up with these incompetent people?
Nice, cant wait to get 1 extra can of chopped tomatoes from Sainsburys then with my 63 pence windfall, pogchamp.
Seriously why are you guys not in the streets protesting?
Just raise the lower tax threshold from £12570 to £23000 a year. Would help low paid people immediately.
The fact there’s dividend tax benefits coming into this is black and white that these pricks are in it for the rich. If you’re still apologising for them you need to take your head out of the fucking sand.
Between this and my new kettle I am going to be absolutely rolling in it.
Wonder how I’ll spend my 63p, could I even buy a Mars bar with that these days?