Tax Rises!

Which taxes should the Government raise?

  • Income Tax

    Votes: 26 23.6%
  • National Insurance Contributions

    Votes: 9 8.2%
  • VAT (including VAT exemptions)

    Votes: 10 9.1%
  • Corporation Tax

    Votes: 52 47.3%
  • Capital Gains Tax

    Votes: 37 33.6%
  • Fuel/Car Tax

    Votes: 16 14.5%
  • Council Tax

    Votes: 0 0.0%
  • Pension Tax Relief

    Votes: 6 5.5%
  • Inheritance Tax

    Votes: 22 20.0%
  • Lifestyle Taxes (e.g. Sugar Tax)

    Votes: 34 30.9%
  • Online Shopping Tax

    Votes: 32 29.1%
  • Tax on Income from Savings (including reducing personal allowance and ISA allowances)

    Votes: 4 3.6%
  • Business Rates

    Votes: 15 13.6%
  • Other Taxes (please specify)

    Votes: 3 2.7%
  • Government should pursue an austerity agenda (public sector cuts / reduced public spending)

    Votes: 13 11.8%
  • Do not raise taxes at this time

    Votes: 26 23.6%

  • Total voters
    110
With inflation going up, then maybe interest rates in response and then tax rises to start paying off the covid debt. things are going to get alot more expensive soon
 
There's going to be pain somewhere and people are going to feel it. Disproportionately of course.

When our public services are already floundering, more severe cuts there are not the answer. Not post-Covid when many are going to be relying on them more than ever.
 
With inflation going up, then maybe interest rates in response and then tax rises to start paying off the covid debt. things are going to get alot more expensive soon

There is no possibility of paying off any debt while there is a budget deficit. Rising inflation means debt interest payments on government index linked bonds have risen substantially.
 
Some sacred cows are going to get slaughtered soon when the spending needs to be paid off.

Services will be cut and taxes raised, new taxes invented.

Tax raises generally affect the middle classes

Service cuts generally affect the working classes

At this point both Conservative voters.

So it will be interesting to see what happens and when.
 
With inflation going up, then maybe interest rates in response and then tax rises to start paying off the covid debt. things are going to get alot more expensive soon

On another forum, people are pooh-poohing the idea of interest rates rising.

I don't share their confidence, tbh. I can't see the Tories letting inflation get out of control and eroding the value of their wealth, so the only way to counteract the inflationary pressures is by reducing demand. And we all know that Tories like to do that by raising interest rates.
 
There's going to be pain somewhere and people are going to feel it. Disproportionately of course.

When our public services are already floundering, more severe cuts there are not the answer. Not post-Covid when many are going to be relying on them more than ever.

The thought of yet more cuts to public services really worries me. They've had 10 years of austerity and many services are struggling to provide the statutory minimum. Friends in areas like NHS, education and social care (both adults and children's) are under horrendous pressure and real term cuts in benefits will hit the poorest hardest of all.
 
The thought of yet more cuts to public services really worries me. They've had 10 years of austerity and many services are struggling to provide the statutory minimum. Friends in areas like NHS, education and social care (both adults and children's) are under horrendous pressure and real term cuts in benefits will hit the poorest hardest of all.

These systems would simply collapse at a time when they're needed most. That's not even really up for dispute. They barely function now, so there's little chance with further cuts.

Tax rises will likely be the way to go, but it's not going to be pretty whatever happens. Why the next few years could see a dramatic shift away from the politics of this current government.

I might be mistaken, but I think Sunak was due to announce something but it's now been delayed. Johnson hates delivering bad news and he and Sunak are supposedly at loggerheads over our fiscal direction, so things could get ugly.
 

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