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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am
Posts: 29240
Location: Guantanamo Bay (thanks bobbdobbs)
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_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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| Thu May 13, 2010 7:06 am |
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adidan
I haven't seen my friends in so long
Joined: Thu Apr 23, 2009 9:43 pm
Posts: 5048
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A very easy way of boosting funds, not unexpected.
Our VAT is relatively low compared to many EU countries and, TBH, I didn't notice the drop down to 15%.
The main losers would be those on low wages or benefits. However, when coupled with the increase in personal allowance the blow should be much easier to take for workers and those on JSA who could see taking a lower paid job as beneficial.
I can accept that with the Tory agreement not to give inheritance tax breaks for the uber rich and the taxing of banks.
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Fogmeister I ventured into Solitude but didn't really do much.
jonbwfc I was behind her in a queue today - but I wouldn't describe it as 'bushy'.
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| Thu May 13, 2010 7:15 am |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am
Posts: 29240
Location: Guantanamo Bay (thanks bobbdobbs)
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Agreed, but I would prefer they started to get rid of the myriad of small taxes and roll them all up into income tax. The low paid will suffer even more when the minimum wage does not increase. The Tories have pledged to freeze the minimum wage. So no need to give that domestic cleaner a pay increase. I agree that the tax allowance increase can make Yes but an increase of income tax would have been much fairer. _________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
Last edited by Amnesia10 on Thu May 13, 2010 7:54 am, edited 1 time in total.
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| Thu May 13, 2010 7:43 am |
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timark_uk
Moderator
Joined: Thu Apr 23, 2009 6:11 pm
Posts: 12143
Location: Belfast
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VAT *is predicted* to rise … Yet more sloppy journalism from the BBC. Mark
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| Thu May 13, 2010 7:47 am |
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TheFrenchun
Officially Mrs saspro
Joined: Wed Jan 06, 2010 7:55 pm
Posts: 4955
Location: on the naughty step
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VAT rises... people buy less. Shop close, factory go out of business. More unemployed oh dear!
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| Thu May 13, 2010 8:11 am |
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big_D
What's a life?
Joined: Thu Apr 23, 2009 8:25 pm
Posts: 10691
Location: Bramsche
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19-20% seems to be more typical, in Europe, so it isn't really a surprise.
We also have to pay VAT on pretty much everything - food etc. is covered.
_________________
"Do you know what this is? Hmm? No, I can see you do not. You have that vacant look in your eyes, which says hold my head to your ear, you will hear the sea!" - Londo Molari
Executive Producer No Agenda Show 246
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| Thu May 13, 2010 8:18 am |
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big_D
What's a life?
Joined: Thu Apr 23, 2009 8:25 pm
Posts: 10691
Location: Bramsche
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1.5 - 2.5% more and people buy less?  The 2% increase here didn't affect sales, that said, it was less than inflation increases, so it pretty much disappeared under the radar, after the news programmes played it up for a week or so, then it turned into a non-story.
_________________
"Do you know what this is? Hmm? No, I can see you do not. You have that vacant look in your eyes, which says hold my head to your ear, you will hear the sea!" - Londo Molari
Executive Producer No Agenda Show 246
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| Thu May 13, 2010 8:23 am |
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timark_uk
Moderator
Joined: Thu Apr 23, 2009 6:11 pm
Posts: 12143
Location: Belfast
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It might not be a surprise but it'll be a very unwelcome increase should it happen. People have been on pay freezes for the past couple of years so whilst the overall cost of living has increased the wages haven't. Couple this with the proposed increase in NI contributions and I really can't see there being much benefit in doing this. Mark
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| Thu May 13, 2010 8:27 am |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am
Posts: 29240
Location: Guantanamo Bay (thanks bobbdobbs)
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Well NI is not going up but the next ten years will be austerity years regardless of what the politicians say. The problem is how they spread the pain. If the rich still get huge pay increases when the rest of us are having to deal with higher taxes and lower incomes then expect to see a savage backlash eventually, maybe not like the greeks but more demonstrations and voting out the Tories and LibDems.
_________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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| Thu May 13, 2010 9:36 am |
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Linux_User
I haven't seen my friends in so long
Joined: Tue May 05, 2009 3:29 pm
Posts: 7173
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VAT is an awful tax. They should increase income tax instead.
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| Thu May 13, 2010 9:38 am |
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timark_uk
Moderator
Joined: Thu Apr 23, 2009 6:11 pm
Posts: 12143
Location: Belfast
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I outlined my take on this in another thread hereabouts, but to paraphrase, I don't think the situation in the UK is really that very far away from becoming what it is in Greece/Bangkok. Mark
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| Thu May 13, 2010 9:39 am |
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adidan
I haven't seen my friends in so long
Joined: Thu Apr 23, 2009 9:43 pm
Posts: 5048
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I made my comments with memories of the previous Tory Government.
If there was no coalition I imagine there would just be a VAT rise without a softener of an increase in the personal allowance.
But yes, an increase to income tax would be better but then the LibDems didn't get a majority on their own so I couldn't see that happening.
_________________
Fogmeister I ventured into Solitude but didn't really do much.
jonbwfc I was behind her in a queue today - but I wouldn't describe it as 'bushy'.
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| Thu May 13, 2010 10:52 am |
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Amnesia10
Legend
Joined: Fri Apr 24, 2009 2:02 am
Posts: 29240
Location: Guantanamo Bay (thanks bobbdobbs)
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I was discussing this with my dad today, and we both thought that higher income taxes with the possibility of abolishing as many other taxes as possible, such as insurance tax and all the stealth taxes the Conservatives moaned about when they were in opposition. _________________Do concentrate, 007... "You are gifted. Mine is bordering on seven seconds." https://www.dropbox.com/referrals/NTg5MzczNTkhttp://astore.amazon.co.uk/wwwx404couk-21
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| Thu May 13, 2010 11:35 am |
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okenobi
Spends far too much time on here
Joined: Thu Apr 23, 2009 6:59 pm
Posts: 4932
Location: Sestriere, Piemonte, Italia
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We've all gotta pay for this [LIFTED] somehow. At least with a VAT increase, I can choose to cut down in certain areas. With income tax, I have no choice. Let it go innit. As for this: Whatever you cut, or increase tax on will have a similar effect. No need to be so melodramatic. I see bus loads of EU immigrants flower-picking and cleaning down here because Brits won't do it, because they're too comfy on benefits. They are wider issues here and we could on and on. Fact is, we're in debt. Doesn't matter who's fault it is. We've all gotta chip in.
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| Thu May 13, 2010 12:03 pm |
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pcernie
Legend
Joined: Sun Apr 26, 2009 12:30 pm
Posts: 45931
Location: Belfast
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+1, and it's really starting to bug me  _________________Plain English advice on everything money, purchase and service related:
http://www.moneysavingexpert.com/
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| Thu May 13, 2010 12:16 pm |
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