7 ms·

Don't worry, the Tories will just cut taxes on the rich again and that will fix everything /s

zx85wes 4y ago
Consider yourself lucky you're not across the sea in the Netherlands. Inflation is 14%+ and household purchasing power is below the level it was 20 years ago.
- ChuckNorris89 4y ago
  I mean that's like every other EU county at this point. Is there anything specific to the Netherlands I'm missing?
  - zx85wes 4y ago
    Inflation is 6% higher than the average* , and nominal wages are up <4% * https://ec.europa.eu/eurostat/documents/2995521/15265521/2-17112022-AP-EN.pdf/b6953137-786e-ed9c-5ee2-6812c0f8f07f https://ec.europa.eu/eurostat/documents/2995521/15265521/2-1...
    - ChuckNorris89 4y ago
      According to that, Hungary and the Baltic states are hit far worse than the Netherlands.
  - KptMarchewa 4y ago
    >I mean that's like every other EU county at this point. Poland GDP per capita PPP is twice the amount 20 year ago. Most neighboring EU countries have similar results.
odiroot 4y ago
More probable is raising taxes on middle class.
Justsignedup 4y ago
Hey man, if people would stop buying their mocha lattes, internet, phones, computers, and netflix, they could save so much money that they could upgrade their carboard box in the park to a carboard box mansion! /s
- samwillis 4y ago
  You've not gone far enough, they need to give up the Avocado on toast for any chance of that happing. /s In all seriousness though, I think the current generation of 20-30 yo are increasingly giving up on any plan to buy a house, ever. They are making the decision that even with sacrifices it's unattainable, and so they just want to enjoy themselves. And eat the avocado on toast.
- emptyparadise 4y ago
  Then the mocha latte industry will crash and somehow it will also be the people's fault.
cloutchaser 4y ago
This is such a simplified viewpoint. The UK has never been able to collect more than 39%-40% of GDP in taxes. And that's what the level is at now. Already everyone is paying as much tax as in history. (and the "rich" pay a lot of that, remember you pay £0 tax under £15,000 income per year). You can try and tax more, but it's highly unlikely to work based on past experience. And in these cases, like with corporation tax, usually the government actually collects more tax revenue at 20% than at 30%. So again, I'd prefer factual taxation, not virtue signalling. What's the solution here to get more in taxes?
- Glawen 4y ago
  Remember that everyone is paying VAT, so yes little income are also taxed
  - Moissanite 4y ago
    I feel like we need a progressive VAT, which differentiates necessities from luxuries. Probably too complex to implement though.
    - midasuni 4y ago
      I pay hardly anything in vat other than a few luxuries. Food Rent Public transport No vat on those Electricity is only 5% A few quid a year on vat on toothpaste hardly makes a difference.
    - ChuckNorris89 4y ago
      Many countries have progressive VAT. In my country food is half the VAT of consumer goods while medicine and books have zero VAT. It's definitely not that difficult to do.
    - stu432 4y ago
      We do already, there's several VAT values, necessities are supposed to be VAT free for instance. Has some quirks in it, so you end up with the Jaffa Cake Vs Biscuit debacle - https://www.astonshaw.co.uk/news/jaffa-cake-tax/#:~:text=The%20significance%20of%20the%20borderline,always%20remain%20exempt%20from%20VAT https://www.astonshaw.co.uk/news/jaffa-cake-tax/#:~:text=The....
miohtama 4y ago
After the current term is over, it’s unlikely Tories are going to wield political power for a while.
- akmarinov 4y ago
  Who’s up next - Labour?
  - sgt101 4y ago
    by default. But, if they don't screw things up they have a chance of being in power for 20 years... we will see.
  - chinabot 4y ago
    What a shit choice you have, even the monster-raving-loony-party couldnt have created the circus that exists at the moment.
- samwillis 4y ago
  I'm not so sure, there are more "shy" conservatives than people realise. Moving towards the centre will stabilise the party, and if they do loose the next election there is an inherent culling of the current crop of right wind MPs. The likely hood is that, if Labour win, they will be faced with such a mess that they will struggle to make the necessary improvements. The conservatives, will move towards the centre, and with the right leader could regain power after a single term out. The left is fragmented (party wise), the right is not. Labour will always have an uphill battle unless we have electoral reform.

Consider yourself lucky you're not across the sea in the Netherlands. Inflation is 14%+ and household purchasing power is below the level it was 20 years ago.

ChuckNorris89 4y ago
I mean that's like every other EU county at this point. Is there anything specific to the Netherlands I'm missing?
- zx85wes 4y ago
  Inflation is 6% higher than the average* , and nominal wages are up <4% * https://ec.europa.eu/eurostat/documents/2995521/15265521/2-17112022-AP-EN.pdf/b6953137-786e-ed9c-5ee2-6812c0f8f07f https://ec.europa.eu/eurostat/documents/2995521/15265521/2-1...
  - ChuckNorris89 4y ago
    According to that, Hungary and the Baltic states are hit far worse than the Netherlands.
- KptMarchewa 4y ago
  >I mean that's like every other EU county at this point. Poland GDP per capita PPP is twice the amount 20 year ago. Most neighboring EU countries have similar results.

odiroot 4y ago

More probable is raising taxes on middle class.

Justsignedup 4y ago

Hey man, if people would stop buying their mocha lattes, internet, phones, computers, and netflix, they could save so much money that they could upgrade their carboard box in the park to a carboard box mansion! /s

samwillis 4y ago
You've not gone far enough, they need to give up the Avocado on toast for any chance of that happing. /s In all seriousness though, I think the current generation of 20-30 yo are increasingly giving up on any plan to buy a house, ever. They are making the decision that even with sacrifices it's unattainable, and so they just want to enjoy themselves. And eat the avocado on toast.
emptyparadise 4y ago
Then the mocha latte industry will crash and somehow it will also be the people's fault.

cloutchaser 4y ago

This is such a simplified viewpoint. The UK has never been able to collect more than 39%-40% of GDP in taxes. And that's what the level is at now. Already everyone is paying as much tax as in history. (and the "rich" pay a lot of that, remember you pay £0 tax under £15,000 income per year). You can try and tax more, but it's highly unlikely to work based on past experience. And in these cases, like with corporation tax, usually the government actually collects more tax revenue at 20% than at 30%. So again, I'd prefer factual taxation, not virtue signalling. What's the solution here to get more in taxes?

Glawen 4y ago
Remember that everyone is paying VAT, so yes little income are also taxed
- Moissanite 4y ago
  I feel like we need a progressive VAT, which differentiates necessities from luxuries. Probably too complex to implement though.
  - midasuni 4y ago
    I pay hardly anything in vat other than a few luxuries. Food Rent Public transport No vat on those Electricity is only 5% A few quid a year on vat on toothpaste hardly makes a difference.
  - ChuckNorris89 4y ago
    Many countries have progressive VAT. In my country food is half the VAT of consumer goods while medicine and books have zero VAT. It's definitely not that difficult to do.
  - stu432 4y ago
    We do already, there's several VAT values, necessities are supposed to be VAT free for instance. Has some quirks in it, so you end up with the Jaffa Cake Vs Biscuit debacle - https://www.astonshaw.co.uk/news/jaffa-cake-tax/#:~:text=The%20significance%20of%20the%20borderline,always%20remain%20exempt%20from%20VAT https://www.astonshaw.co.uk/news/jaffa-cake-tax/#:~:text=The....

miohtama 4y ago

After the current term is over, it’s unlikely Tories are going to wield political power for a while.

akmarinov 4y ago
Who’s up next - Labour?
- sgt101 4y ago
  by default. But, if they don't screw things up they have a chance of being in power for 20 years... we will see.
- chinabot 4y ago
  What a shit choice you have, even the monster-raving-loony-party couldnt have created the circus that exists at the moment.
samwillis 4y ago
I'm not so sure, there are more "shy" conservatives than people realise. Moving towards the centre will stabilise the party, and if they do loose the next election there is an inherent culling of the current crop of right wind MPs. The likely hood is that, if Labour win, they will be faced with such a mess that they will struggle to make the necessary improvements. The conservatives, will move towards the centre, and with the right leader could regain power after a single term out. The left is fragmented (party wise), the right is not. Labour will always have an uphill battle unless we have electoral reform.