Social Care

[Derek Hardballs]

This is not an easy problem to solve but is there a better way to finance this than a tax on younger and low paid workers? The mooted NI rise seems to be a very unfair way to solve the problem particularly when the talk is about levelling up. 

Social Care

[Borin' Baggie]

Yes, increase income tax by a penny in the pound.

[Ossian]

NI presently drops to 2% on earnings slightly over £50,000. If the government really thinks NI is the solution that will surely have to change, otherwise a disproportionate contribution will be coming from the lower and middle income groups.

Typically, there is no real strategy here; just a rushed and overdue response to a situation about to cross the threshold from critical to meltdown.

[EastMidsBaggie]

Very difficult subject and, hence, why short term governments always kick it down the road.
Needs some real radical thinking rather than just taking the easy NI route which just taxes income.
What about taxing wealth (so many people are just amassing great wealth from just asset inflation or inheritance without earning it (South East especially gains from this), how do the self employed figure in this ?

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NI presently drops to 2% on earnings slightly over £50,000. If the government really thinks NI is the solution that will surely have to change, otherwise a disproportionate contribution will be coming from the lower and middle income groups.

Typically, there is no real strategy here; just a rushed and overdue response to a situation about to cross the threshold from critical to meltdown.

Yep, if that anomaly continues with an increase in the lower rate then that really would be a kick in the teeth for the 'average Joe'.

[baggy1]

Very difficult subject and, hence, why short term governments always kick it down the road.
Needs some real radical thinking rather than just taking the easy NI route which just taxes income.
What about taxing wealth (so many people are just amassing great wealth from just asset inflation or inheritance without earning it (South East especially gains from this), how do the self employed figure in this ?

Inheritance will already have been taxed upon receipt EM, taxing it annually thereafter because you have it in the bank will simply encourage people to dispose of it which will impact on banks ability to lend (as mentioned on the pension thread).

Agree btw that 1% on NI punishes the lower earners disproportionately and should be a non-starter.

[Derek Hardballs]

Sky Report

[Baggybenny]

Sky Report

The way NI is levied reminds me of the thatcher /heseltine council tax changes to replace rates.   Rates was a pro rata charge so a property worth £1m  was charged 10 times more rates than a house worth £100,000  Now it is a regressive tax with the most valuable properties no longer paying a "fair" proportion.  
Can you really seeing the tories bringing fairness back to property rates or introducing it to NI ?

[Derek Hardballs]

Sky Report

The way NI is levied reminds me of the thatcher /heseltine council tax changes to replace rates.   Rates was a pro rata charge so a property worth £1m  was charged 10 times more rates than a house worth £100,000  Now it is a regressive tax with the most valuable properties no longer paying a "fair" proportion.  
Can you really seeing the tories bringing fairness back to property rates or introducing it to NI ?

But, but, but Boris is trying his best!

[EastMidsBaggie]

The Red Wall love being shafted by the Tories so they'll lap it up even if it's to their cost.

[Derek Hardballs]

The Red Wall love being shafted by the Tories so they'll lap it up even if it's to their cost.

They will find a way to blame the EU