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Stitched up the pensioners etc ,it's now time for the British workers and businesses to get shafted

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victor wrote:Stitched up the pensioners etc ,it's now time for the British workers and businesses to get shafted

Nah, that happened when Boris and the Berksits got Brexit done, and that 'did' for us all, well apart from the super rich and mates of Boris who couldn't care less.

And as a pensioner I have not been stitched up because I still have the triple lock. It is true that I lost the winter fuel allowance, but that was because I was deemed not to need it, that is also true.

Those that did need it still got it and we all still get our free prescriptions, eye tests and bus passes etc..

Pensioners and those in the low income bracket have all been stiched up. The personal allowance has been stuck at £12.750 since 2022 and there are no signs of it changing any time soon.

Anybody retired with even a small occupational pension will be paying tax, likewise the so-called triple lock will be clawing back a share of it in more tax. Not to mention the two tier pension, the old pension and the new pension, where most pensioners who retired before 2016 will be getting a much lower pension than those retiring after 2016 and the gap becoming successively wider as pension increases are in percentages.

Both Conservative and Labour governments are both responsible for keeping the personal allowance at its current value. It my opinion the threshold for paying income tax should be £20,000 and any pensioner with income over that would naturally pay their fair share of tax. Of interest the yearly income for anyone on the minimum wage is now £22,222.

I spent some AI time looking at raising the threshold to £20k. It is a LOT of tax missed.

However it would be possible to raise all the bands and mitigate taxation for those at the lower level. I can't remember the exact numbers but it is something like an additional 6% and because of the ~£8k raise inall three rates, only those on over £150k+ a year pay more even with the higher rates.

Something like that. I believe even at 6% hike of all three rates, with £20k allowance, nobody in the lower two brackets pay more. The cost is levelled out by reducing the gain in the £20k-£150k which allows the £0k to £20k to gain dramatically. Including pensioners.

Something like that. It was a balancing act. But it is something you could actually sell. It fits the Labour mantra of "those who have more can pay more" without hammering those in the middle who may have more but probably have more stress on their income. It fixes the pension issue and it helps those at the lowest level.

Of course it doesn't fit into "Screw the RICH to pay for the poor" mantra and it makes total sense. So there is no way they would do it. Especially raising the base rate even if nobody who has an income totally within that rate would pay any more. In fact actually less.

Of course then they'll ramp the minimum wage to £20 and it will all start again....