Labour activist and City Councillor recently retired from working with historic churches in West Midlands to create sustainable church & community projects
I'm getting quite a few people getting in touch concerned "The State Pension will start to be taxed" on the back of newspaper articles. I thought it worth making a few simple points to clear up possible confusions...
1. The State Pension is already taxable and always has been in my memory, in other words it counts towards your taxable income. Many State Pensioners who have other income too already pay income tax.
2. The stories are based on the fact the annual personal allowance - the amount you can earn before any tax is taken - is frozen at £12,570 (this is effectively a way of stealthily raising the tax people pay each year)
3. The State Pension annual rise is currently based on a 'triple lock' (ie it rises with the highest of avg earnings, inflation or 2.5%).
4. The stories are about the fact the triple lock means the current headline £11,973/yr State Pension may rise above the £12,570/yr personal allowance in a few years time. So some who's only income is the State Pension would then pay tax on the portion above the personal allowance.
5. The £11,973/yr quoted is somewhat misleading. It's the amount someone on the... FULL, NEW State Pension would get. Yet most pensioners (all who hit State Pension age before April 2016) are on the OLD pensione, which has a lower basic amount. And many don't get the full pension as they don't have enough National Insurance years.
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So overall the fact 'the State Pension alone may be taxable for some', is primarily a function of the fact that personal allowance is frozen, and the State Pension rises significantly each year.
One way politicians could avoid it would be to increase the personal allowance (for everyone or just for state pensioners) yet it's worth being aware another way to do it would be to end the triple lock, so the State Pension doesn't rise as high!
I'm not aiming making any political point here. Just trying to explain how it works as I've had quite a lot of questions.
The Tories are running a fake fact check scam against the BBC debate.
See how they've renamed and rebranded their website to make it look like something it's not.
Spread the word. Don't let them get away with it.
#bbcdebate
Two quotes:
Rishi Sunak: "Independent Treasury officials have costed Labour's policies and they amount to a £2,000 tax rise for every working family"
Treasury Permanent Secretary: “civil servants were not involved in the production or presentation of the Conservative Party’s document”
Thousands came together for a brilliant #SouthamptonPride! Great celebration of our more inclusive society, but also a protest as there’s needless discrimination we still need to fight.
🏳️🌈Southampton - you did everyone proud at Pride, and showed what a great city this is!🏳️⚧️
This is dynamite from Kaveh Solhekol on Sky Sports News. Absolutely nails it. He has the Tories and BBC on toast. Well done!! 👏 Take 2 mins and watch👇#garylineker#ImWithGary#MOTD#ToryFascists
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There's no longer such a thing as the international community.
So said a prominent African leader aware that, along with the UN, the IMF and COP27, the G20 will fail to address the world’s multiple crises.
So what’s the solution?
[Thread]
https://t.co/U9MEff8gTr
They broke the economy, the NHS and the immigration system.
Mortgages are £500 a month more expensive and you can’t see your GP.
Their answer? “We can’t fix it”
It’s time for a Labour government.
Public service announcement for whoever needs to hear it: The United Kingdom isn’t being invaded. Anyone saying it is owes the people of Ukraine an apology and should be ignored.