FabSwingers.com forum: 50p Income Tax rate cut

By *atisfy jane OP Woman
over a year ago

Torquay

So do you think the government should scrap the 50p rate in tommorrows budget?

And what about todays debate about selling major road routes off so private companies can set up Toll booths?

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By *ovedupstillCouple
over a year ago

mullinwire

"So do you think the government should scrap the 50p rate in tommorrows budget?

And what about todays debate about selling major road routes off so private companies can set up Toll booths?"

motorists. easy targets yet again.

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By (user no longer on site)
over a year ago

Never mind all this fuss over 50p, what about all those millions in tax and stuff that we are getting stiffed for?

As for the toll booths, I'm putting a pedestrian one on my drive so all the leaflet droppers have to pay a quid to post take away menus and rammel through my letterbox, this time next year I'll be a millionaire!!

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By *atisfy jane OP Woman
over a year ago

Torquay

The argument from the government seems to be that private companies should take over certain existing major road routes and/or new roads to improve them and take over expensive maintenance....in exchange for making money at toll booths.

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By (user no longer on site)
over a year ago

they won't scrap the 50% tax rate as it's marginally less damaging to the economy than the proposed mansion tax

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By *ovedupstillCouple
over a year ago

mullinwire

wish they would do something to limit the amount of properties can be in soul ownership.

thats why there is a housing shortage. buy to let owners.

if you cant live off the income generated by 2 or 3 properties, then you really need to look at your personal finances and budgetting

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By *abioMan
over a year ago

Newcastle and Gateshead

"The argument from the government seems to be that private companies should take over certain existing major road routes and/or new roads to improve them and take over expensive maintenance....in exchange for making money at toll booths."

not quite...... from what i understand private companies maybe giving money by the government to maintain the roads and to possibly improve them...Contacts like for the railways (so basically cutting out the highways agency)

no existing roads would be tolled... however if the profit from these roads tempted them into building new roads.. these would be chargable (such as the M6 Toll)

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By *iamondsmiles.Woman
over a year ago

little house on the praire

"wish they would do something to limit the amount of properties can be in soul ownership.

thats why there is a housing shortage. buy to let owners.

if you cant live off the income generated by 2 or 3 properties, then you really need to look at your personal finances and budgetting"

and where would all the people who cant afford their own property live. In my street (not my house) i think 90% of them are let by people that buy them. They are either young couples or childless couples that live in them, certainly not ones that are able to get council or housing association houses.

If someone can afford to buy houses why not?

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By (user no longer on site)
over a year ago

i own several properties and consider myself an ethical landlord, the majority of my tenants are DSS or low income, my rent is extremely competitive and i have even got 2 rent to buy deals going on with young couples who couldn't get a mortgage until they could raise a 10% deposit. i work hard, often a 70 hour week and i pay my taxes... why should i have to pay more?

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By *atisfy jane OP Woman
over a year ago

Torquay

Nothing wrong with 'Buy to Let'....nothing wrong with individuals owning a large portfolio of houses that they let out...

Just need to have a national re appointment of the 'Fair Rents Board'...that way private rental can remain affordable for young families and also save the country Tens of Millions (maybe more) in housing benefit.

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By (user no longer on site)
over a year ago

"wish they would do something to limit the amount of properties can be in soul ownership.

thats why there is a housing shortage. buy to let owners.

if you cant live off the income generated by 2 or 3 properties, then you really need to look at your personal finances and budgetting"

lol, people buy houses to rent out as long term investments and not just to live of the rental income from 2 or 3 houses.

If they can afford to buy 50 homes and rent them all out, that's 50 lots of people who can then rent happily in a house the may have no way of actually being able to buy.

Being able to afford 2 or 3 properties to start with shows they are in control of their personal finances and budgeting, so I don't really understand your argument !!!

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By (user no longer on site)
over a year ago

"wish they would do something to limit the amount of properties can be in soul ownership.

thats why there is a housing shortage. buy to let owners.

if you cant live off the income generated by 2 or 3 properties, then you really need to look at your personal finances and budgetting"

Buy to let owners (some) are doing the right thing and see nothing wrong with it myself.

They are taking old properties and renewing them which in turn saves building on new land.

The properties create work for tradesmen to carry out work on the properties.

They also provide shelter for those who can't get a mortgage but can get rented accomodation.

There are hundreds of thousands of properties stood empty, if someone can afford to buy some of these properties and create work and shelter then how can that be a bad thing?

As long as the taxes are being paid and the work carried out on the properties are done to the guidelines then crack on I say

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By (user no longer on site)
over a year ago

just letting you know, i'm just off to dragons den with this one, wanna come?

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By (user no longer on site)
over a year ago

just letting you know, i'm just off to dragons den with this one, wanna come?"

I think you'll find I've beat you to it and I'm now minted!!

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By (user no longer on site)
over a year ago

"So do you think the government should scrap the 50p rate in tommorrows budget?

And what about todays debate about selling major road routes off so private companies can set up Toll booths?"

It's clear that something needs to be done about our road network. I travelled up from Bedfordshire to Newcastle last week and the state of repair of some of the major roads I travelled on was noticable to a year ago. Potholes just aren't being repaired and I'm sure many of us have driven through roadworks where no work seems to be going on. I'm sure many of these private contractors engaged to build new motorways or repair existing ones see government finance as a licence to print money so if they are being paid by a private pension fund to do the same work you can bet the pension funds will have a much tighter grip on what is spent, when and by whom. I welcome the govts proposals and if new motorways are to be toll roads then it makes sense that those who use them should pay to use them.

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By (user no longer on site)
over a year ago

As for the 50p tax rate cut, there's little doubt that it will make a difference in making businesses more competitive and the losses to the treasury from high income earners above £150,000 will be neglible. What is interesting is the possible reduction in corporation tax which as a new small business I will find an enormous help. The big businesses are already evading/avoiding corporation tax anyway so it won't have as much of an impact on them as it will for small traders.

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By *ouple in LancashireCouple
over a year ago

in Lancashire

maybe the roads will be as good for us 'ordinary folk' as the water privatisation has been...

like feck

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By *waymanMan
over a year ago

newcastle

The explanations this government gives for road privatization don't make sense. For a private company to invest in roads it will need a level of ROI higher than it can achieve by loaning the money on the market, not least because it will probably have borrowed the money itself. That means the profit margin for the company must be higher than it would have cost the government to borrow the money itself.

In terms of the alleged efficiencies that would result, frankly, you only have to look at the astonishing rising water bills and the increased frequency of water shortages in the south of England to see how well privatization has worked in the water industry. The same with railways - far from becoming more efficient privatization has made the railways less efficient, and ever more demanding of subsidies.

As for the argument that cutting taxes for the wealthy will make them work harder, why is it that local government workers are expected to become more efficient for less reward (through pay freezes and pension contribution increases) while bankers have to be given more money to encourage them? It's bollocks....

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By (user no longer on site)
over a year ago

Its all well and good putting the roads out to private tender but if that's the case they want to be cutting the price of bloody road tax!

Not enough money being generated to repair roads my arse, its just getting misdirected more like!

XXXX

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By *acreadCouple
over a year ago

central scotland

Well said _wayman, as you say we are told we have to give the Bankers and high flyers lots of money big bonuses etc while Joe Bloggs is paid too much.

Why not just use a little more of the vehicle tax on the roads instead off the fraction thats used just now.

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By (user no longer on site)
over a year ago

"Its all well and good putting the roads out to private tender but if that's the case they want to be cutting the price of bloody road tax!

Not enough money being generated to repair roads my arse, its just getting misdirected more like!

XXXX"

Yeah, straight into the mink-lined pockets of Mrs McAlpine. A fookin road cone doesn't cost £300 and two paddies standing idly by while a third leans on a shovel isn't a hard days graft in my book.

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By (user no longer on site)
over a year ago

I'm really not terribly up on this stuff.. but doesn't privatising things usually go tits up?

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By (user no longer on site)
over a year ago

"For a private company to invest in roads it will need a level of ROI higher than it can achieve by loaning the money on the market, not least because it will probably have borrowed the money itself. "

If the higher level of ROI in the markets is there to achieve at the moment, which I don't think it is, so the equity firms will have to turn to something else and if the govt is opening up a whole new ball park for them to play around in you can be sure they'll find a way of achieving the maximum profits that they'd realise in their normal sphere of business. Pension funds aren't worth billions because the fund managers are crap at what they do. If there is money to be made in digging up roads they'll fund it, you can be sure of that.

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By (user no longer on site)
over a year ago

I'm really not terribly up on this stuff.. but doesn't privatising things usually go tits up?

The govt aren't privatising the roads. The scheme is for new roads only and they govt will pay a tariff to the company that builds the road based upon the amount of people that use it.

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By *acreadCouple
over a year ago

central scotland

I'm really not terribly up on this stuff.. but doesn't privatising things usually go tits up?

Not realy but it does make it more expensive for the punters as the companies that run them then have to give directors millions in wages and then millions more in bonuses whether they deserve or not.

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By *waymanMan
over a year ago

newcastle

I'm really not terribly up on this stuff.. but doesn't privatising things usually go tits up?

The govt aren't privatising the roads. The scheme is for new roads only and they govt will pay a tariff to the company that builds the road based upon the amount of people that use it."

What you;redescribing is shadow tolling which already happens under PFI. Wrong again, I'm afraid. The government have explicitly floated the idea of tolling to pay for new roads, and, given that you;re in Northumbeland, you may hve read the piece in the Northumberland Gazette with various Tories and Libdems debating paying for A1 dualling north of Morpeth via tolls...

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By (user no longer on site)
over a year ago

I like the raising the tax free bit to £10,000, whoop whoop

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By (user no longer on site)
over a year ago

I'm really not terribly up on this stuff.. but doesn't privatising things usually go tits up?

The govt aren't privatising the roads. The scheme is for new roads only and they govt will pay a tariff to the company that builds the road based upon the amount of people that use it.

Don't believe everything you read - we're not in Northumberland, so no I haven't read the article you mentioned. But, having said that, I'm not at all sure the A1 north of Morpeth needs widening, I've been up it a few times and never encountered much more than a tractor that needed overtaking.

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By *abioMan
over a year ago

Newcastle and Gateshead

"I like the raising the tax free bit to £10,000, whoop whoop"

slow down young fella... it will likely go up in stages...

so at the moment the single persons tax allowance is £7475,

from 6th april 2012 that will go up to £8105

then what is being proposed is that from 6th april 2013 it will be £9000

and then from 6th april 2014 it will be £10000

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By (user no longer on site)
over a year ago

"I like the raising the tax free bit to £10,000, whoop whoop

slow down young fella... it will likely go up in stages...

so at the moment the single persons tax allowance is £7475,

from 6th april 2012 that will go up to £8105

then what is being proposed is that from 6th april 2013 it will be £9000

and then from 6th april 2014 it will be £10000

...just in time for Gen Elec May 2015 ... and George will give a few more pennies back in Budget 2014 too. They always do.

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By *ixson-BallsMan
over a year ago

Blackpool

i'm all for the lowering of the top rate 50p...but then the tax threshold of 40p starting at, i believe £43,500 ish should be raised to say £50,000...

along with raising the lower threshold to £10,000...

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By *himanMan
over a year ago

chichester

great make the rich ppl richer totally imoral in present climate

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By (user no longer on site)
over a year ago

Did the rich get poorer and the poor richer (Excluding welfare claimant) under Labour?

That's what politics is about, how do you get to paradise.

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By (user no longer on site)
over a year ago

[Removed by poster at 21/03/12 12:32:08]

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By *acreadCouple
over a year ago

central scotland

"i'm all for the lowering of the top rate 50p...but then the tax threshold of 40p starting at, i believe £43,500 ish should be raised to say £50,000...

along with raising the lower threshold to £10,000...

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By (user no longer on site)
over a year ago

"Did the rich get poorer and the poor richer (Excluding welfare claimant) under Labour?

That's what politics is about, how do you get to paradise.

Well Tony Blair fucked off to his Middle East Envoy job and is now earning millions of squid out there. Gordy the Gaffe will probably have a book coming out soon, soon as he's learned how to write that is.

No, the poor were no better off under Labour - the party of the poor apparently.

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By *acreadCouple
over a year ago

central scotland

The Tories who are dropping the 50p rate which benefits the wealthier taxpayer actualy dropped the 40p threshold from I think $46000 to £36000 last April I dont know how they think it is fair to take money from the average punter one year and give it to the wealthy the next year but hey its the party "THATS ALL IN IT TOGETHER WITH US" isnt it?

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By (user no longer on site)
over a year ago

"they won't scrap the 50% tax rate as it's marginally less damaging to the economy than the proposed mansion tax

"
HMMMM AND DID THEY ???

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