More Stealth Taxes....

Discussion in 'Current Affairs, News and Analysis' started by Blogg, Oct 22, 2007.

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  1. No wonder just about everybody loathes this Government.

    Two weeks after Alistair Darling's delivers his first boll0x filled pre-budget report the National Insurance thresholds are very silently revised

    Right now NI is charged at 11% between £5,200 and £34,840.

    From 6 April next year the limits are £5,460 (+5%) and £40,040 (+16%!)

    So earn £41,000 and your NI charge will rise from £3,320 to £3,814: a £494 increase.

    No mention of this by Darling of course, despite the fact that it will raise £4.5Bn!
  2. Gremlin

    Gremlin LE Good Egg (charities)

    It was announced in the Budget by GB earlier this year.
  3. Didn't know there was such a thing as a 'tax' spotter....
  4. I don't get it?

    If I earn £37,000 now I have to pay 12% whereas next year I save 1%?

    Those that earn more pay more? Sounds reasonable.

    Am I missing something here?
  5. Wrong.

    The 21 March 2007 Budget announced NI figures for the year running from 6 April 2007 to 5 April 2008 (i.e now). Those had been pre- announced in the 2006 Pre budget Report as usual.

    In the Darling 2007 bullsh!t pre budget report not a word was said. Nix. Nil. Nada, because he knew that it would generate huge adverse press

    So, two weeks after the pre budget statement the vast NI uplift for 2008/9 creeps out, togther with a Treasury paper on "Aligning the Tax And NIC system" which means only one thing despite all the smoke and mirrors:yet more taxes

    Big surprise eh?
  6. So I get hit for another £500 per year, i do hope they spend it wisely....oh, I will go on "5 a day coordinators" to make the feckless eat vegetables and other Grauniad readers job creation schemes.
  7. Quite right. And more to come in terms of foisting a local income tax based on ramped up valuations.;jsessionid=XAVLCBB3CEGZHQFIQMGSFFWAVCBQWIV0?xml=/news/2007/10/22/ntax122.xml

    All being done is secret because they do not want anything like this to be announced this side of the next election. Paying 1% per annum of the "value" of your home, as adjusted for being in a "nice" area sound very much like the hated Wealth Tax that has been a long held dream of Labour for so long: punishes those who dare to live in areas with high house prices.
  8. I find it odd that the Labour party want a wealth tax as it always appears to be the biggest most expensive houses with nice new cars outside that also had the vote Labour signs up.
  9. Not at all. Dennis Healy proposed a Wealth Tax in 1974. Was about to be introduced for real when Labour got kicked out in 1979. Will not be called a Wealth Tax but that is what it is.

    Watch out for huge spin, because if you have Wealth Tax on the living do not need Inheritance Tax.

    Even the Swedish have ditched the idea after nearly 70 years of bonkers left wing rule. They were paying 1.5% annual tax on all "personal wealth" of more than £110K which meant that the bloke who founded Ikea had to go live in Switzerland or go face being bankrupt. The whole economy stagnated because thanks to their huge tax burden little new money would go into the country and anybody with any real dosh held it via offshore.