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How do you feel about the freeze on your tax threshold and on some benefits paying for giveaway to the wealthiest 1%?

(53 Posts)
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buffyfly9 Thu 16-Mar-23 19:14:56

It's a typical Tory budget, let's look after our cronies first! The free childcare is good but it won't take effect until April 24 at the earliest, not a lot of use to any young mum who wants to go back to work for longer hours. The freezing of the tax allowances is a disgrace in my opinion and is their way of clawing more tax from people working whose wages go up. Will Labour be any better? I'm glad I'm in my late seventies as i think the future for my grandchildren is bleak.

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DaisyAnne Thu 16-Mar-23 19:00:49

I think I should have put this on chat. I just wondered how everybody felt about this - not the political points.

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DaisyAnne Thu 16-Mar-23 17:39:39

By 2025–26, the four-year freeze to the personal allowance will be costing the typical basic-rate taxpayer £500 per year in today's prices, while the freezes to both the personal allowance and higher-rate threshold will cost typical higher-rate taxpayers around £3,000 per year. (Source 1)

Rich people now have no overall limit on how much can be put into their pension pots tax-free, and can pass this on to their heirs with absolutely zero inheritance tax”. This so called "Budget for Growth" has also ignored public services, leaving them facing “implausibly tight spending plans.(Source 2)

Is this really what people want from a government?

1. ifs.org.uk/publications/reforms-roll-outs-and-freezes-tax-and-benefit-system#:~:text=By%202025%E2%80%9326%2C%20the%20four,around%20%C2%A33%2C000%20per%20year.
2. Torsten Bell, chief executive of the Resolution Foundation thinktank.

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