This doesn’t surprise me. As soon as the workin class hear “tax cuts” they automatically think its good and we should keep tories in. Cutting business tax’s keeps extremely wealthy companies richer abd more profitable for precious shareholders. Tories have never changed, they are always on the wealthy side, they really do not care about working class people. you are slaves to them.
I am shocked. Shocked, I say. Someone better inform the government of this, because it sounds like a complete accident and not a repeated pattern of behaviour and they surely would be horrified, and not utterly indifferent to gleeful, at the idea they are hurting those most vulnerable in favor of benefitting the most affluent.
Just gonna put this big ‘ol /s here just in case.
Like fuck does it. What am I going to do with £750, £500 of which is just undoing the damages of lowering the 45% threshold, per year? My annual tax liability is £56k.
This tax cut favours nobody.
Haha what?
I’m a higher rate tax payer so assume I’m included in this ‘richest 20%’
I think I’m going to be 40 quid better off from NI. Woop de fucking do. My mortgage is going up 230 quid a month next year. Hardly worth the time.
I mean, we can’t improve the life of the poors. Then how will the rest of us get more yachts?
I’m not sure how the richest 20% benefit when the article says
> However, he left in place £90bn of tax rises over the life of the parliament that the thinktank said remain progressive, with the richest fifth of households set to lose £1,100 on average, while the poorest 20% gain an average of £700.
Maybe this specific budget benefits the top 20% but overall the changes from this government don’t
Any time taxes are cut they will benefit the people who pay the most… aka the people on higher salaries… its basic maths
Isn’t this analysis just nonsense?
> The top fifth will gain £1,000 on average, five times the gains seen by the bottom 20%, who will be only £200 better off from measures that include a 2p cut in national insurance, according to the Resolution Foundation’s analysis.
The top fifth gain more in absolute terms, but what about percentage-wise?
Also, of course the bottom 20% don’t gain much from a tax cut, a lot of them are probably paying no tax at all in the first place
This is just ragebait.
The bottom 80% will benefit more on average than the top 20%
If you factor in the UC rise I’m sure the bottom 20% will benefit more
My household is in the top 1 or 2% and we’re getting enough to basically pay for my PS5 purchase.
In other words I don’t need this tax cut. It is a last-minute cash grab, an attempt to dirty the deck for Labour, and a bribe for voters who are superficial and greedy enough to be impressed by it.
The tax burden in the U.K. has become so fucking mental that even if they dropped income tax by 10% most people would hardly notice. So a few % in NI is a fucking joke and glad to say not an election winning trick.
Buzzing 80 quid a month saved, that can go towards my high electric bills and my mortgage that finishes its mixed term this year
“We send the EU 350 Million a week,
let’s give it to millionaires instead.”
Well according to the calculator I’m going to be £88 worse off next year and that’s assuming I get a 6.5% payrise, which I won’t because we’ve already been told it’s 4%.
So we get a little back with NI but because of the lock on the 40% rate it all goes back in tax.
>*Households will on average be £1,900 poorer at the end of this parliament than at its start.*
That’s the real headline here.
Even for me, with my Uber-salary, £1,900/yr is not nothing, and for two people on minimum wage, it’s a significant amount of money – literally a 2 week break overseas in the sun for two, or food **for the entire year**.
I’m getting £440 more a year, but my rent went up by £40 a month recently so… my landlord is getting £480 more a year.
Says I will be £565/year better off.
Not to be sniffed at, will pay for our weekend to watch the Paralympics in France, but hardly rolling in it.
17 comments
This doesn’t surprise me. As soon as the workin class hear “tax cuts” they automatically think its good and we should keep tories in. Cutting business tax’s keeps extremely wealthy companies richer abd more profitable for precious shareholders. Tories have never changed, they are always on the wealthy side, they really do not care about working class people. you are slaves to them.
I am shocked. Shocked, I say. Someone better inform the government of this, because it sounds like a complete accident and not a repeated pattern of behaviour and they surely would be horrified, and not utterly indifferent to gleeful, at the idea they are hurting those most vulnerable in favor of benefitting the most affluent.
Just gonna put this big ‘ol /s here just in case.
Like fuck does it. What am I going to do with £750, £500 of which is just undoing the damages of lowering the 45% threshold, per year? My annual tax liability is £56k.
This tax cut favours nobody.
Haha what?
I’m a higher rate tax payer so assume I’m included in this ‘richest 20%’
I think I’m going to be 40 quid better off from NI. Woop de fucking do. My mortgage is going up 230 quid a month next year. Hardly worth the time.
I mean, we can’t improve the life of the poors. Then how will the rest of us get more yachts?
[A top 20% income is >= £44,300 before tax](https://www.gov.uk/government/statistics/percentile-points-from-1-to-99-for-total-income-before-and-after-tax)
I’m not sure how the richest 20% benefit when the article says
> However, he left in place £90bn of tax rises over the life of the parliament that the thinktank said remain progressive, with the richest fifth of households set to lose £1,100 on average, while the poorest 20% gain an average of £700.
Maybe this specific budget benefits the top 20% but overall the changes from this government don’t
Any time taxes are cut they will benefit the people who pay the most… aka the people on higher salaries… its basic maths
Isn’t this analysis just nonsense?
> The top fifth will gain £1,000 on average, five times the gains seen by the bottom 20%, who will be only £200 better off from measures that include a 2p cut in national insurance, according to the Resolution Foundation’s analysis.
The top fifth gain more in absolute terms, but what about percentage-wise?
Also, of course the bottom 20% don’t gain much from a tax cut, a lot of them are probably paying no tax at all in the first place
This is just ragebait.
The bottom 80% will benefit more on average than the top 20%
If you factor in the UC rise I’m sure the bottom 20% will benefit more
My household is in the top 1 or 2% and we’re getting enough to basically pay for my PS5 purchase.
In other words I don’t need this tax cut. It is a last-minute cash grab, an attempt to dirty the deck for Labour, and a bribe for voters who are superficial and greedy enough to be impressed by it.
The tax burden in the U.K. has become so fucking mental that even if they dropped income tax by 10% most people would hardly notice. So a few % in NI is a fucking joke and glad to say not an election winning trick.
Buzzing 80 quid a month saved, that can go towards my high electric bills and my mortgage that finishes its mixed term this year
“We send the EU 350 Million a week,
let’s give it to millionaires instead.”
Well according to the calculator I’m going to be £88 worse off next year and that’s assuming I get a 6.5% payrise, which I won’t because we’ve already been told it’s 4%.
So we get a little back with NI but because of the lock on the 40% rate it all goes back in tax.
>*Households will on average be £1,900 poorer at the end of this parliament than at its start.*
That’s the real headline here.
Even for me, with my Uber-salary, £1,900/yr is not nothing, and for two people on minimum wage, it’s a significant amount of money – literally a 2 week break overseas in the sun for two, or food **for the entire year**.
I’m getting £440 more a year, but my rent went up by £40 a month recently so… my landlord is getting £480 more a year.
Says I will be £565/year better off.
Not to be sniffed at, will pay for our weekend to watch the Paralympics in France, but hardly rolling in it.