Most people are economically illiterate, and it’s destroying Britain.
We think we’re a top-tier rich nation, but on a per capita basis, we’re not even in the top 20.
Instead of arguing and further dividing the country over how to slice a shrinking pie, we need to focus on what actually creates wealth and productivity because taxing wealth won't fix a nation that has stopped producing it.
In the 24 months since Labour came to power, we've seen;
• Employer National Insurance increased from 13.8% to 15%.
• The employer NI threshold cut from £9,100 to £5,000.
• Income Tax and National Insurance thresholds frozen until 2031.
• Capital Gains Tax increased from 10% and 20% to 18% and 24%.
• Business Asset Disposal Relief increased from 10% to 14%, then 18%.
• Investors’ Relief increased and its lifetime allowance cut from £10 million to £1 million.
• Carried interest taxation increased and moved towards the Income Tax regime.
• Dividend tax rates increased by two percentage points.
• Savings-income tax rates increased by two percentage points.
• Property-income tax rates increased by two percentage points.
• Most unused pension funds brought into the Inheritance Tax net.
• Agricultural Property Relief restricted.
• Business Property Relief restricted.
• Inheritance Tax thresholds frozen for longer.
• The non-dom regime replaced with a more extensive residence-based system.
• VAT imposed on private school fees.
• Business-rates relief removed from private schools.
• Stamp Duty increased on second homes and buy-to-let properties.
• The Furnished Holiday Lettings tax regime abolished.
• Pension salary-sacrifice benefits capped at £2,000 before National Insurance applies.
• The Cash ISA allowance cut to £12,000 for most under-65s.
• A 22% charge introduced on interest from cash held inside non-cash ISAs.
• Restrictions introduced on transfers and cash-like holdings within ISAs.
• The Energy Profits Levy increased and extended.
• Investment allowances for oil and gas producers reduced.
• A new Vaping Products Duty introduced.
• Tobacco duties increased above inflation.
• Vehicle Excise Duty increased for many new cars.
• Electric vehicles brought into the Vehicle Excise Duty system.
• A new mileage tax announced for electric and plug-in hybrid cars.
• Air Passenger Duty increased.
• Climate Change Levy rates increased.
• Plastic Packaging Tax increased.
• A new Carbon Border Adjustment Mechanism introduced.
• Making Tax Digital extended to more landlords and self-employed people.
Together they represent one of the biggest transfers of wealth from households and businesses to the Treasury in decades - with no noticeable improvement in public services.
Whether you're a business owner employing staff, a parent paying school fees, a farmer planning succession, an entrepreneur building wealth or simply someone trying to save for retirement...
You keep less of what you earn.
You keep less of what you invest.
You leave less to your family.
Death by a thousand cuts is becoming tax policy.
@AyoCaesar Are you suggesting that he should have held his position, no questions asked? If you wish to push for equity then scrutiny should not be exempt
Basic History for the Uninformed:
1. Before Israel, there was a British mandate, not a Palestinian state.
2. Before the British Mandate, there was the Ottoman Empire, not a Palestinian state.
3. Before the Ottoman Empire, there was the Islamic state of the Mamluks of Egypt, not a Palestinian state.
4. Before the Islamic state of the Mamluks of Egypt, there was the Ayubid-Kurdish Empire, not a Palestinian state.
5. Before the Ayubid Empire, there was the Crusader Frankish and the Christian Kingdom of Jerusalem, not a Palestinian state.
6. Before the Kingdom of Jerusalem, there were the Umayyad and Fatimid empires, not a Palestinian state.
7. Before the Umayyad and Fatimid empires, there was the Byzantine empire, not a Palestinian state.
8. there was the Sassanid-Persian Empire before the Byzantine Empire, not a Palestinian state.
9. Before the Sassanid-Persian Empire, there was the Byzantine Empire again, not a Palestinian state.
10. there was the Roman Empire, not a Palestinian state, before the Byzantine Empire.
11. Before the Roman Empire, there was the Jewish Hasmonean state, not a Palestinian state.
12. Before the Jewish Hasmonean state was the Hellenistic Seleucid Empire, not a Palestinian state.
13. Before the Hellenistic Seleucid empire, there was Alexander the Great's empire, not a Palestinian state.
14. Before Alexander the Great, there was the Persian Empire, not a Palestinian state.
15. Before the Persian Empire, there was the Babylonian Empire, not a Palestinian state.
16. Before the Babylonian Empire, the kingdoms of Israel and Judah were not Palestinian states.
17. Before the Kingdoms of Israel and Judah, there was the Kingdom of Israel, not a Palestinian state.
18. Before the Kingdom of Israel, there was the theocracy of the twelve tribes of Israel, not a Palestinian state.
19. Before the theocracy of the twelve tribes of Israel, there was an agglomeration of independent Canaanite city-kingdoms, not a Palestinian state.
There have been many governments there, but never a Palestine.
The Irish cricket team is about to play 5 one day cricket matches against Afghanistan . Men v Men. Women are banned from playing cricket in Afghanistan. They are also banned from taking their children to a park. They must be neither seen nor heard in Afghanistan.
No Irish campaign to stop or boycott the matches. No journalistic outrage at their taking place. No Irish political activists or women’s groups interested. Why? Afghanistan is ruled by fundamentalist, authoritarian, Islamic misogynists. No one Jewish to blame or demonise.
Irish political activists who speak the language of human rights have no real interest in human rights. Only interested in weaponising human rights language to promote a malevolent, deeply ingrained, indoctrinated, anti semitic agenda.
@David__Osland This is an attack on the idea of possession and ownership. If owing something is to become a taxable event then our economy will cease to function.