Can someone please explain Rachel Reeves’ economic thinking to me?

Personally I would have gone for 2p in the pound on income tax , it would have hit the higher payed harder.

No increase in National Insurance.

This would stimulate the economy. More entrepreneurship.
And not hit the lower payed.

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SunshineGirl · 36-40, F

They made a manifesto pledge not to increase taxes on "working people", and income tax has been off limits for decades. Freezing the tax thresholds has in any case raised more through income tax at a time of fairly high wage increases, but this probably hits the lower paid hardest.

Not so long ago the Tories practically had a mandate to raise income tax in order to give nurses a decent pay rise. That goodwill was all squandered by the Truss administration.

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SunshineGirl · 36-40, F

@peterlee Exactly. Circumstances change, so should the mandate.

Those with the broadest shoulders should bear the greatest burden. Unfortunately, linking winter fuel payments to income landed so badly that they are unlikely to tackle universal benefits for the retired - by far the wealthiest section of the population - again in the life of the parliament.

peterlee · M

@SunshineGirl Yes, the number of pensioners driving new cars is staggering. Even today I saw eight guys and gals going for a meal at a restaurant at £60. , a head. It is always full at weekends. Just in a sleepy little village in East Sussex. I was out for a run!

SunshineGirl · 36-40, F

@peterlee Lucky them, but I don't bear any grudge . . just so long as there is a decent pension system in place by the time those of us who are working hard to sustain their lifestyles finally get to retire!

peterlee · M

@SunshineGirl you will be lucky 😔