funding Labour manifesto promises

It’s an uncosted promise at odds with what McDonnell said a few days ago.
It’s quite obviously a wheeze to grab voters .....this fantasy to refund women to the tune of £58b which was not in the manifesto cannot be believed by anyone.
If it had been in the manifesto the means to fund it would have been clear.

We hold different opinions GG13. I don't think people shouldn't inherit wealth, I just believe that they should pay the same tax as those who work for what they get. It appears your children are in both those categories.

Money churns around the economy. Paying tax on each transaction is not exceptional. Thinking we should not pay taxes on each transaction may be.

Lemongrove, you know that is not what I said. You initially said it was not mentioned. You are now wriggling because you know that is untrue. It will be untrue if everything is dumbed down to opinion with not an iota of an attempt made to check the facts. That becomes insulting when attempts are then made to imply the misconstruction is someone else's fault.

In the chapter on "Pensions" the LP manifesto says:

People work hard for most of their lives and deserve a decent retirement free of financial stress and insecurity.

Under the Tories, 400,000 pensioners have been pushed into poverty and a generation of women born in the 1950s have had their pension age changed without fair notification. This betrayal left millions of women with no time to make alternative plans – with sometimes devastating personal consequences.

Labour recognises this injustice, and will work with these women to design a system of recompense for the losses and insecurity they have suffered.

We will ensure that such an injustice can never happen again by legislating to prevent accrued rights to the state pension from being changed.

The Conservatives have repeatedly raised the state pension age despite overseeing a decline in life expectancy. Labour will abandon the Tories’ plans to raise the State Pension Age, leaving it at 66. We will review retirement ages for physically arduous and stressful occupations, including shift workers, in the public and private sectors.

We will maintain the ‘triple lock’ and guarantee the Winter Fuel Payment, free TV licences and free bus passes as universal benefits.

Thanks to automatic enrolment, which was introduced by the last Labour government, record numbers of employees are now in workplace pension schemes. But too many people are still not saving enough for a comfortable retirement.

We will stop people being auto-enrolled into rip-off schemes and seek to widen and expand access for more low-income and self-employed workers. We will establish an independent Pensions’ Commission, modelled on the Low Pay Commission, to recommend target levels for workplace pensions.

We will create a single, comprehensive and publicly run pensions dashboard that is fully transparent, including information about costs and charges.

We will legislate to allow the CWURoyal Mail agreement for a collective pension scheme to proceed and allow similar schemes.

Labour has listened to the NUM and in government will end the injustice of the state taking 50% of the surplus in the Mineworkers’ Pension Scheme and introduce new sharing arrangements so that 10% goes to government and 90% stays with scheme members. This new sharing arrangement will also apply to the British Coal Staff Superannuation Scheme.

We will ensure that the pensions of UK citizens living overseas rise in line with pensions in Britain.

You would not by a house without reading the document so why throw away remarks about our future without doing so?

*GGMk3 my comment was in response to your post of Sat 23-Nov-19 13:16:24

"I can assure you that a “Netflix subscription” is an awful lot less than the extra tax I as an individual will pay under Corbyns Labour."

Not clear to me what other massive tax Labour is proposing the would affect you so much..

This

GracesGranMK3. My money/assets accumulated over my lifetime using my money which has been taxed at source. Should be mine to do/give as I wish.

Labour want to cap gifts/inheritance over our lifetime tax free up to £125,000, which in my opinion is wrong.

How exactly the WASPI women would be refunded was not
In the manifesto, and adding this £58b uncosted amount to the LP’s already incredible ( literally) spending plans tells everyone all they need to know about this wannabe government.They won’t get away with it easily as a promise, it’s already being pulled to pieces by all commentators currently on tv.
They are so far behind in the polls that they are trying every trick in the book.

Callistemon You can find out here. labour.org.uk/manifesto/

GG13, I don't believe you deliberately misunderstand what is said but I am beginning to wonder.

What Maizie said is that your children did not work for the money or assets you pass to them; you did. I can't believe you would not agree that is true.

Inheritance tax dates back to 1894 when estate duty, a tax on land, was brought in to pay off government deficit. So it was originally a land tax. In the last year we have figures for, only 5% of deaths were subject to inheritance tax, so only a very small percent of the population actually have enough to pay it. The new aristocracy perhaps.

This is a tax on accumulated wealth not on earnings. You should not, in my opinion, be able to gain more by the transference of wealth to you than you can by earning the same amount. This is my purely personal feeling but they should be taxed in exactly the same way.

Is there anything in the manifesto about seizing homes which have been left empty for more than six months as proposed in September this year?
Or for the 'garden tax' proposed by McDonnell a while ago?

MaizieD yet another patronising post directed at me!!!!

My Children work exceptionally hard, three of them in our family business, one has their own business and one is an officer in the army.

As for not “understanding” inheritance tax I can assure you I understand it extremely well.

Your comments regarding my “Tory virtues” reveal far more about you and your very narrow minded views, and “reeks” of “typical Labour envy”!!!!

Not all pensioners are doing well. There is one pensioner benefit that has been frozen although I have only seen it mentioned on Money Box and by Money Saving Expert Martin Lewis..

Add to that the fact that the basic pension for older pensioners is lower than the that for newer pensioners although the Tory government obviously believed it was too low to live on as they make it up to the new amount if the pensioner claims a benefit.

One in three pensioners retire with only the state pension to live on. The older pensioners must apply for benefits to give them the same as the newer ones but if a little over the basic they cannot claim so their state pension remains at the lower level. Most of those retiring on only a state pension will have been low-paid workers, people who have suffered life events or carers.

Some Sunday morning reading:

By several measures–public sector debt, public sector borrowing, macro-economic stability, and the value of wages and salaries–successive Tory governments have not only failed to perform better than their Labour counterparts, they have often performed worse. The simple reason is that they disinvest in the real economy in favour of financial markets and give proportional tax breaks to the richest. Yet, despite the facts, Labour’s critics continue to peddle the line that economic Conservatism is the only viable option. Check the facts before swallowing the dogma.

www.thelondoneconomic.com/business-economics/economics/debunking-the-myth-that-tories-are-better-than-labour-with-the-economy/19/11/

Maybe, GG13 because your children haven't worked for what you've earned?

You tory types are full of the virtues of hard work for everyone else, and, indeed, very proud of your own virtuous efforts in that direction, but somehow manage to be extremely tolerant of people who have never had to graft because they've inherited wealth. And scornful, if not downright vicious, about people in the unfortunate position of not having a lucrative occupation or inherited wealth to fall back on. Like it's some sort of moral deficiency in them.

You also seem to have a poor understanding of inheritance tax (especially ironic after your earlier crack about 'gransplaining'). The government doesn't take everything above £125,000 as inheritance tax, which you seem to be implying. The figure is just the tax free allowance. You do understand what a tax free allowance is, don't you?

Jeremy Corbyn seems to be wandering around in a daze. He needs to get his head out of the clouds and face reality.

Why shouldn’t I be able to leave my children, my home and assets. These have been bought with monies I have earned and paid tax on!!!!

£125,000 inheritance tax threshold is ridiculous, you cannot buy a one bedroom flat for that in the South East.

Go after the multinationals, not the hard working employers and business owners.

Pensioners might be doing better- but we still have one of the lowest pensions in Europe. That’s nothing to boast about. We also spend much less on health and welfare per capita than equivalent countries. We may be a rich country but the wealth is in the hands of a tiny minority - we have huge inequality. A bit more tax would hardly cripple the top 10% of earners.

One thing I am very glad to hear is that the Labour Party has promised at least some compensation to the wasps women. I don't know the details though. Does anyone else?

MarthaBeck which facts are you unsure about?
I know this much, that pensioners are doing better than ever before thanks to the triple lock.
You can keep on wondering what my income is.

The gist of it is that the Labour government misspent the money granted to them for post-war reconstruction on other things

Given our position in the world post WWII and our view of the importance of the Empire it is more than likely that a tory government would have done much the same as the Labour government did; attempt to maintain the UK as a 'world power'. Do we have any evidence that they would have done differently? It was a tory government, after all which presided over the Suez debacle...

I think I will, from now on, believe all supporters of liar Johnson are also prepared to lie.

Where are the quotes from M0nica?

I am not sure where lemongrove obtained her so called facts
What Boom?
We have highest number of food lowest pension in 25 EU countries, food banks, homelessness, rough sleeping, child poverty, Care Crisis, Appalling lack of social housing, 1.8 million pensions living below the poverty line. Highest period of deprivation in 26 years. Underfunding for 3 years of the NHS. I wonder what Lemongrove income is compared with the 1.8 pensioners in the poverty trap, living on less than £4,500 per annum. Yet the greed and avarice is increasing whilst other suffer, it sickening the complacency of some Grans.

Whitewave p2, 23.55, this thread. is my reply

monica you rightly point to the way the Marshall Plan was apparently mis-spent if you compared what the U.K. government did with the aid compared to Germany or France, and point to various evidence to support you claim.

However you then go on to suggest that the Labour Party is set to do similar if it gets into government.
However you neither support this assertion nor give consideration to the fact that the Labour proposed spending and economic plan stands up very well when compared to most European countries, in particular the Scandinavian economies.