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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)
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.

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.

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.

DaisyAnne Thu 16-Mar-23 19:49:46

Thanks buffyfly. You sound as if you might be in the "what can't be cured, must be endured" camp wine.

DaisyAnne Thu 16-Mar-23 19:59:08

I found this: news.sky.com/story/budget-2023-calculator-see-if-you-are-better-or-worse-off-after-chancellor-jeremy-hunts-statement-12834667

It's the Sky News Budget 2023 calculator which some might find useful.

MawtheMerrier Thu 16-Mar-23 20:28:51

I think this is what is called a leading question
A bit like "When did you stop beating your wife?"
Or "What attracted you to millionaire Paul Daniels, Debbie McGee?"

GrannyGravy13 Thu 16-Mar-23 20:35:49

MawtheMerrier

I think this is what is called a leading question
A bit like "When did you stop beating your wife?"
Or "What attracted you to millionaire Paul Daniels, Debbie McGee?"

Yep 👍🏻

Fleurpepper Thu 16-Mar-23 20:39:14

MawtheMerrier

I think this is what is called a leading question
A bit like "When did you stop beating your wife?"
Or "What attracted you to millionaire Paul Daniels, Debbie McGee?"

It's certainly a very valid question.

Why do you think it is not?

MawtheMerrier Thu 16-Mar-23 20:56:36

It presupposes that the only outcome of the frozen tax threshold etc is to fund this top economic tier of society.
I am not putting myself forward as an apologist for Jetemy Hunt but as I recall there were many other areas of increased government expenditure presumably (like it says on the tin) funded by the budget - the extension of subsidised childcare hours being just one , increased funding fir charities aiming to deter particularly young people from suicide being another.

DaisyAnne Thu 16-Mar-23 21:02:41

I think you mean that you mean you see it as it is a "loaded" question Maw. In other words, one that assumes guilt. However, the answer to "when did you stop beating your wife" is surely "I have never beaten my wife" - end of assumption.

If you feel there has been an assumption made by many in the news, that you disagree with, it is perfectly reasonable to say so, and to let us know how you feel about what is being said.

It would be good to hear some are jumping up and down with glee, especially if you are in possession of exactly how it will affect you (which you don't have to disclose, obviously).

DaisyAnne Thu 16-Mar-23 21:14:48

To add an outsider's view, the New Statesman tells us people are feeling "bleak", that it is a "cross fingers, tough wood" kind of budget and have a sense of instability.

I admit to feeling deeply sad about the next few years for so many people. But not everyone will feel like that, so let us hear that you feel upbeat.

DaisyAnne Thu 16-Mar-23 21:15:12

tough touch

Happygirl79 Thu 16-Mar-23 21:17:09

The freezing of the tax thresholds is devastating for people just above the £12750 threshold. My income is too much to receive pension credit, but I live alone and my income is only £13700 per annum. Not a lot to manage on but I am careful so get by .There will be many others worse off but it does "grate" when I am subsidising the top 1% who don't need the money.

Germanshepherdsmum Thu 16-Mar-23 22:00:22

Why do you think you are subsidising the top 1%, as opposed to paying your way?

winterwhite Thu 16-Mar-23 22:04:15

It seems a bit disingenuous to expect anyone to say they’re delighted. The next GE is our opportunity to make our views known. Mine are despair and despair. Esp at 0 for public services.

Kim19 Fri 17-Mar-23 02:58:50

I think the personal allowance will be increased next year in an attempt to buy votes from an 'appeased' people. Unfortunately some can be swayed by these tactics.

DaisyAnne Fri 17-Mar-23 08:09:47

Germanshepherdsmum

Why do you think you are subsidising the top 1%, as opposed to paying your way?

I think this is one of those cases where having News linked with Politics in one forum confuses what people expect.

GSM, HappyGirl did not say she thought she was subsidising the 1%. HappyGirl felt it. It very descriptively "grated" on her. She was not arguing the political point but answering the question of how she felt.

Much is now (in the things I read and see) being made about how people will "feel" after 13 years of Tory government when we approach the election. I thought that after a budget, it was a good time to ask how people are "feeling" about the analysis of it so far and how they "feel" from their own, not your, perspective.

The 'Political' threads are interesting if we can learn something from them. However, news gatherers and writers are telling us how we "feel" as we vote will also matter. Obviously, this can/will change over the next year, but it would be interesting to begin to understand those "feelings" now.

Germanshepherdsmum Fri 17-Mar-23 08:37:17

What people ‘feel’ is not necessarily reflective of the facts. If enough negativity is spread around - and it certainly is on GN where there is so much vitriol about the government and those perceived to be ‘rich’ (even ‘two homes Urms’ was lumping herself in with the poor yesterday) then that will adversely affect ‘feelings’.

Whitewavemark2 Fri 17-Mar-23 08:52:25

Germanshepherdsmum

What people ‘feel’ is not necessarily reflective of the facts. If enough negativity is spread around - and it certainly is on GN where there is so much vitriol about the government and those perceived to be ‘rich’ (even ‘two homes Urms’ was lumping herself in with the poor yesterday) then that will adversely affect ‘feelings’.

I agree with you there - look at Brexit a massive example of this.

Germanshepherdsmum Fri 17-Mar-23 09:13:43

It should never have happened. At least I can hold my head up there.

Newquay Fri 17-Mar-23 09:16:46

On Question Time last night a young woman raised the point of why not help families allow a parent to stay home with babies up to 2 years? So cruel, shoving such young children into nurseries-which are always short staffed in any event. Young children need one to one care IMHO

MaizieD Fri 17-Mar-23 09:19:52

To answer the question in the OP, it is economically illiterate.

Where on earth is the chancellor expecting economic growth from if a large section of the population have no spare money to spend? There are not enough wealthy people to spend enough in the economy to keep it afloat.

MaizieD Fri 17-Mar-23 09:23:13

Newquay

On Question Time last night a young woman raised the point of why not help families allow a parent to stay home with babies up to 2 years? So cruel, shoving such young children into nurseries-which are always short staffed in any event. Young children need one to one care IMHO

A valid question, but one that has to be set against the fact that for many women the break they take to care for their young children has a seriously poor effect on their career prospects.

That's a whole other can of worms, isn't it?

rosie1959 Fri 17-Mar-23 09:31:14

Newquay

On Question Time last night a young woman raised the point of why not help families allow a parent to stay home with babies up to 2 years? So cruel, shoving such young children into nurseries-which are always short staffed in any event. Young children need one to one care IMHO

I was a little concerned when my granddaughter went into full time nursery care at 6months but my daughter had to return to work. In there young years the care is nearly one to one and she absolutely flourished she is now a very well adjusted 5 year old and her previous nursery nurse now works for a child minder who does he wrap round care for school.
The government could not replace my daughters salary through no stretch of the imagination. And dropping out of work affects your career path.
Throughout this time I have always done one days care a week and ad hoc times when needed

DaisyAnne Fri 17-Mar-23 13:47:48

Facts do matter. However, that wasn't what I was asking. You both believe you understand the facts GSM and WWM2. Yet, from what we read, you are likely to vote for two different parties with contrasting and irreconcilable views. This can only be because your perspectives and those are based on your feelings, not facts.

Many people will vote on those feelings alone. However much you could try to beat people up on GN for not using your preferred facts, it will not change their feelings about what is right and what is wrong from their personal perspective. They each have the same number of votes as you do - 1. Many people will vote in the next election simply by using their feelings about whether the last 13 Tory years have left them better or worse off. That makes "feelings" important, possibly as important or more important, in an election as facts are.