Well heres the truth, the 10% starter tax will be scrapped at the same time, so in effect if you earn 10K a year you will be about £150 a year worse off......Crafty Mr Brown isnt he......!
2007-03-21 04:15:12 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
I'm going to be about £34 a year worse of with this 2% deduction.
The exchequer is set to gain £8,630 from the scrapping of the starter tax and will pay out an extra £9,640 for the 2% deduction. Basically, the rest of us are paying for a few people to get more. (Figures for 2009-2010 indexed)
2007-03-21 04:26:09 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Whatever 2% or 10% income tax is deducted, if that tax is relocated/ imposed on the commonly consumed items (gas, electricity, telephones, etc.), then this is a cheating to the people. We must consider the whole thing all together and not jump up with these sorts of income tax deduction.
No government ever reduced the income (various taxes) from the people; rather they increase that in different techniques. They just reduce some taxes from the sensitive sectors and relocate those to other sectors (most of the times with more percentages) to cheat the foolish citizen.
So, nothing to be happy or unhappy with this income tax reduction.
2007-03-21 11:42:07 · answer #2 · answered by The Falcon 2 · 0⤊ 0⤋
Yes - this was a political move - to appeal to 'middle England' - lower paid will be worse off (although GB tells us benefits will increase for the most vulnerable) - those who pay higher rate tax will be worse off - so there's a band across the middle - the average UK citizen - will be better off (about £10 a month I calculate).
Vote winner, nothing more.
2007-03-24 10:20:51 · answer #3 · answered by Colin S 2 · 0⤊ 0⤋
I would not mind paying more tax if only we got improved services in return. However, this is not the case and services are declining. I can't even get a NHS GP for christ sake! All too full they say or not in catchment area.
2007-03-22 18:01:12 · answer #4 · answered by Paul 2 · 0⤊ 0⤋
Yes, I was surprised also. Those on high pay will gain and those on low pay will lose. If he had money to give away, he should surely have expanded the 10% band.
But as it says in the bible,"to those who have it shall be given".
2007-03-21 18:04:27 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The Chancellor giveth and the Chancellor taketh away. Overall there is no give away just a realignment.
2007-03-21 11:24:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Whats given in one way, is taken in another.....just look at the increases elsewhere in the budget!
2007-03-21 11:35:05 · answer #7 · answered by SunnyDays 5 · 0⤊ 0⤋
The best budget ever!
apart from the 11p on my precious fags, boooooooo
2007-03-21 11:19:33 · answer #8 · answered by Anonymous · 0⤊ 0⤋
This will be a great pity if it affects lower earners.
2007-03-21 11:18:30 · answer #9 · answered by R.E.M.E. 5 · 0⤊ 0⤋
i dont pay tax yet so i have no idea
2007-03-21 11:17:56 · answer #10 · answered by designer 2 · 0⤊ 1⤋