"Let me tell you about the very rich. They are different from you and me."

PS. The poorer aren't necessarily the least able.

At the moment I'm in the bottom decile for wealth and income and have been for years, but I don't accept that I'm in the bottom 10% for ability or hard work.

PPS. Luckily for me, my life is about to change big time financially, but I won't ever forget what it's like to be really poor.

Allsorts

Who would vote for a government that didn’t believe in free enterprise, in the government imposing 100per cent inheritance tax. Would anyone set up a business, take risks and employ people with such restrictions in place. Look how much the Blair’s have, multi millionaires and their children, Keir Starmer is very wealthy with an estate, so many millionaires in the party. Would you advocate everyone having the same type of house, car, education? What a ridiculous suggestion that’s communism and everyone knows how that failed, with the top ones with their money sorted away abroad in second magnificent homes. If the rules are not fit for purpose, then change them, meanwhile what Rishi did was not against the law, as for his wife she’s not owned by him, women today make up their own minds and not at the mercy of their husbands, it seems as if some people don’t accept that, want to turn the clock back. Tell me one person who don’t want their own money spent as they think it should. Many save for the future don’t spend money they earn on holidays, cars etc. why should the government have it back. Spend money you earn, pay tax on as you wish.

Please get your facts right.

Starmer bought a 7 acre field in 1996 at the back of his parents' home for his mother's donkeys. He apparently bought it because she could no longer walk but it gave her the opportunity to watch the donkeys. So it's not an estate. Some people estimate that it might be worth up to £10 million if it was sold to developers. However, planning permission has not been applied for and since it's green belt
it's not likely to be granted.

His house in Kentish Town (who wants to live there?) is apparently worth £1.8 million but that's what family size homes in London cost these days. A lot more in smarter areas.

growstuff

PS. The poorer aren't necessarily the least able.

At the moment I'm in the bottom decile for wealth and income and have been for years, but I don't accept that I'm in the bottom 10% for ability or hard work.

PPS. Luckily for me, my life is about to change big time financially, but I won't ever forget what it's like to be really poor.

So agree with all those thoughts growstuff and I hope no- one grudges you any good fortune in later life ?

growstuff

PS. The poorer aren't necessarily the least able.

At the moment I'm in the bottom decile for wealth and income and have been for years, but I don't accept that I'm in the bottom 10% for ability or hard work.

PPS. Luckily for me, my life is about to change big time financially, but I won't ever forget what it's like to be really poor.

I’m really pleased for you growstuff. Good news. I don’t think anyone who has really had to watch the pennies and worried about the bills, go without food even, ever forgets. I certainly haven’t (cue for disparaging comments I expect but it’s entirely true).

I’m not well off.
But actually I am. I have a house to live in, a comfortable house. I have enough to eat. I am warm enough. I have a loving family. I have four gorgeous grandchildren. I have my health although I do have asthma and take a tablet for high blood pressure, I have travelled to many parts of the world especially since I retired.
I am well off.
But I’m not rich.

Fi

Maisie, what you do with your income is up to you, don’t judge others doing the same.

Folk like us maddyone who have a comfortable home, a happy family and good friends are indeed rich compared to so many poorer folk in different parts of the world and in this country.

We are not rich by comparison with normal rich folk, let alone the super rich, but if we try to put ourselves in the position of those who are really poor, we would certainly consider ourselves rich indeed.

….we would certainly consider ourselves rich indeed.

Lovely words varian and so very true.

growstuff

I see it Maizie.

Thank you, growstuff.

I'm just loving the indignation on behalf of the super rich.

Dianhmo, My facts are correct. If you think people with millions are a special case because they live in London, that is wealth only dreamt on most of the country, I take it you agree about the other millionaires, in the party. . I haven’t a problem with it, it’s just the fact that you and others seem to think it’s fine for labour but not conservatives. People should not be judged on just their wealth any more than others that are poor.

I'll just leave this here.

when it comes to wealth (valuable assets and items over and above income), the gap is even wider. The poorest half of the global population owns just 2% of the global total, while the richest 10% own 76% of all wealth.

www.weforum.org/agenda/2021/12/global-income-inequality-gap-report-rich-poor/

Pantglas2

Nowhere near inheritance tax limits (alas) DaisyAnne but I’ve seen a few references on GN suggesting leaving anything to kith and kin shouldn’t be allowed due to some parents having nothing to leave!

As for tax avoidance/evasion, I admit to having savings that bring in under £1000 interest limit with ISAs being the next vehicle for avoiding tax. I drive an economical car which has very low tax for the purpose of saving on that and petrol and am always looking to save money (and tax obviously) on all purchases - arguably I’m depriving “society” of funds by doing all of this. Surely that’s ok because the government can just print more...

My thoughts are, we’re all at it, only to different degrees!

No, the reason I suggested it (and I was playing devil's advocate) was not because some have nothing to leave, but so that everybody starts from the same starting point in life.

I actually believe in the Tory values of aspiration, but I don't believe some people should have an unfair advantage the moment they are born. Give everybody the same start, let them make of their opportunities as they will, let them enjoy the fruits of their wealth during their lives, then let the next generation start all over again.

..Rich and richer, the Beckham and Peltz wedding..Peltz richer than Beckhams.. just saying!

Somebody will probably come along and claim those two have worked hard and earned their wealth. Ironically, they'll probably become even richer because people will buy pictures and stories about their not very important lives.

Another question.

It is a fact that with a sovereign currency, such as the UK's, money is issued into the economy by the government.

At the moment that it is issued; before it is used in any transaction, who does it belong to?

Billionaires who avoid U.K. tax but tell us how to vote.

If very rich people live in the UK and thus benefit from all the advantages of our society they should jolly well contribute according to their income through tax like everyone else. Parliament is to blame for the non-dom mess and it needs to get a grip. Laws need to be well structured so that the rich cannot find loopholes through which to escape tax and we need international agreements to prevent wealth and incomes being moved to the cheapest tax country.

Just reading that Angela Rayner, the Labour deputy leader, had written to the Prime Minister asking for Christopher Geidt, the independent adviser on ministers’ interests, to review all of his declarations made by Sunak since he became a minister, just hours before Sunak did himself. [Source: New Statesman Newsletter]

MaizieD

Another question.

It is a fact that with a sovereign currency, such as the UK's, money is issued into the economy by the government.

At the moment that it is issued; before it is used in any transaction, who does it belong to?

Oh, do come on everyone, don't be shy.

Who does this money belong to?

We have lost the connection between capitalism and charity. Previous generations knew that their dosh had to be shared; Rowntree and Guinness Trust housing, and Carnegie libraries still proclaim their founders' philanthropy. Yes, self made men were buying social status; does it matter? Indeed, shouldn't people who make lots of money and then give it away be applauded? But now the super rich seem to think that if one megayacht is good, then seven are better.

It still happens. Remember we only found out about George Michael’s philanthropy after he died? The best charitable giving is that done quietly.

Imnofan of the chancellor however I have to correct the OP in that he DID NOT cut Universal Credit. The uplift was given be ause of Covid to help just like the furlough was. It was always inly temporary. It's goi g up today just like the pension is. Obviously not by anywhere near enough.

God help us, no one else can

Wow. Some keen Tories on this thread. Presumably all well/comfortably off and absolutely certain that it is all down to their ‘hard work and sacrifice’......