Party manifesto pledges on tax

Conservative: no increase to income tax, corporation tax, or VAT. Gradually phase out National Insurance 😐

Labour: no increase to income tax, corporation tax, or VAT. Extend Energy Profits Levy. Abolish tax relief on private school fees 😐

Lib Dem: restore Bank Levy to 2016 levels; sewage tax on utility company profits; increase Digital Services tax 😕

Reform UK: increase income tax threshold to £20K; inheritance tax threshold to £2 million; abolish VAT on energy bills; reduce fuel duty by 20p per litre 🤪

Green: Wealth tax of 1% on £10 million +, 2% on £1 billion +; equalise corporatiin and inheritance tax; new carbon tax . .

. . plus instructions on how to recycle their campaign leaflet into an "origami hat" 🤣🤣🤣

I think I know where my vote is going 🤠

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ninalanyon · 61-69, T

I'd be more impressed if any of the parties proposed to reform the tax and benefits system so that the effective tax rate increased monotonically with income and that all income were taxable. Doing this could simplify both the tax system and the benefits system and remove the problems that people have when earnings exceed a threshold and a benefit vanishes.

But I suspect that none of the candidates know what monotonicity is.

SunshineGirl · 36-40, F

@ninalanyon Income tax has somehow become a sacred cow and politicians of all colours are terrified to talk about reform.

MommyLucy · 36-40, F

This lovely post was too complicated for me to understand! 😭😭😭 I believe in taxes that go towards welfare, education and healthcare but not unnecessary pointless taxes! 🤗🤗🤗

MartinII · 70-79, M

I think I know where your vote is going too! But both major parties have been mendacious about tax, and have said nothing about what really matters, namely what tax revenue will be spent on and to what purpose.

SunshineGirl · 36-40, F

@MartinII They are evasive about how revenue will be raised for universal healthcare, education, increased defence spending . . they perceive it to be impossible to talk to voters about tax increases while the cost of living rises inexorably. So instead of having a mature debate, the income tax thresholds are frozen until 2028 (which falls disproportionately upon lower income households) and we all have to pretend that this is not a tax increase 🙄

Carbon tax is an excellent way of funding environmental policies that many politicians regard as unaffordable. So would be unfreezing the escalator on fuel duty and introducing road toll charging to fund transport. And inheritance taxes address the inequity of a health system that is mainly funded by those who use it the least.

But income tax is the proper and most efficient way of funding public services.

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SunshineGirl · 36-40, F

@Burnley123 An independent assessment by KPMG concluded that the plans appeared to be "rushed".

From what I can make out, the policy is contingent upon the reversal of recent migration trends. But unless this is accompanied by seizure of wealth (similar to Edward I's expulsion of the Jews in 1290), it makes no sense.

But then I look at the lack of detail in the plans of the two largest parties and these are hardly paragons of fiscal responsibility either 🤪

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