Got to the office, like I do every day.
Just to get to work:
Train: £20
Parking: £10.50
£30.50 gone before I’ve even opened my laptop.
That’s over 13% of my daily take-home pay spent simply turning up to work.
Tell me again how the UK incentivises people to graft.
I’d keep roughly £5,030 more a year if UK tax thresholds had risen with inflation instead of being frozen.
The bands would look more like:
Personal allowance: £16,070
40% threshold: £64,270
PA taper starts: £127,860
PA gone: £160,000
45% threshold: ~£191,790
Fiscal drag isn’t invisible. It’s a pay cut.
£1.2M house, £150k a year salary.
To keep repayments at 60% of net take home ~£3k/month (30yr @ 4.5%), I’d need a £600k deposit (50%).
Even saving 60% of my net pay (£36k/year, unrealistic, my current household expense are 60%):
•£600k = 17 years
•£61k stamp duty = 1.7 years
So after nearly 2 decades of extreme saving, I still end up with a £3k/month mortgage… plus bills.
You be the judge.
You can be a top taxpayer in the UK and still be priced out of housing.
But the system can fund multi-million-pound homes for others for decades.
And we’re told this is fair.
There is outrage in the US over $5 / gallon.
That’s £0.98 per litre.
I repeat.
£0.98 PER LITRE.
If trump is to blame, who the hell is to blame for the last 20 years worth of fuel prices in the UK.
Those asking for the maths:
On a £150k salary in the UK (with a Plan 2 student loan):
Income tax: £50,328
National Insurance: £5,011
Student loan: £11,043 (say what you want but an MP has said they use the interest for general government spending)
Direct deductions: £66,382
Then add:
Council tax: £3,600
Road tax: £500
Stamp duty: £10,000
Fuel duty (~£300/mo fuel): ~£1,600
Estimated VAT: ~£11,000
Total tax: ~£93,000
From £150k earned, roughly £57k actually ends up in your pocket.
It then costs me £700/month (£8,400/year) just to travel to work — from post-tax income.
After that, I'm left with about £48k of actual usable money.
Effective tax rate: ~62% (≈68% including cost just to get to work).
I do hope the reason for likely new Covid restrictions today - the plan B we're about to hear about - has been done based on the science, rather than convienient timing to knock the No.10 party out of the news agenda.
Here you can see which MPs voted against free school meals, and how much they have each received from the public kitty in expenses. I hope you're sitting down.
Sterling work by @jacobHeppleston
https://t.co/9Mlc7kplXe