Well it Was Bound To Happen.!!!

[spudulike]

There have been loads of possible ways of clawing back the funding of the furlough scheme. A wealth tax on anyone with £500k of assets including the house (5% of wealth over 5 years), IHT changes, changes to capital gains tax and now hitting the self employed. 

It will become clear in March as to what his plans are!

[Paul in the woods]

12 minutes ago, spudulike said:

A wealth tax on anyone with £500k of assets including the house (5% of wealth over 5 years)

 

Including your pension pot and business assets from what I read.

 

I assume some of these ideas are being deliberately floated about to judge what sort of reaction they get.

[kevinjohnsonmbe]

1 minute ago, Paul in the woods said:

Including your pension pot and business assets from what I read.

 

I assume some of these ideas are being deliberately floated about to judge what sort of reaction they get.

I know what my reaction would be!

[nath]

Like 5 shires, i'm no economist either. Heres a few things that occur to me though.

 

Well over 100,000 dead so far and still rising. Lets say by the end of this that 100,000 of pensionable age are dead. thats 100,000 X 175.20 the government have saved themselves every week, which comes to £17,520,000 a week. Thats got to take the sting off things a little bit. At the rate things are going it could quite easily be double that. Sorry if that comes across insensitive, but its fact.

 

Then you have all the ineritance tax. Good possibility that some of those 100,000 will have a few quid to spare. Whats inheritance tax at the moment, 40%

 

And the money that isn't taxed is all going to be new money for people, who unlike their elderly relatives might well have a bit of a sprending spree, further helping the economy.

 

The more I think about it, the more possible ways I see of the government clawing money back, Im not as pessimistic about the whole thing as I once was.

Edited February 4, 2021 by nath

[skyhuck]

5 minutes ago, Scottish Cleaning Service said:

Vat will rise to 22% then 23% till it reaches 25% like Sweden I think. If you spend your money on equipment to make your job easier, safer and more efficient then you will be quids in.

I would be very surprised if your right.

[Khriss]

4 hours ago, 5 shires said:

So the chancellor is seriously thinking about hitting the Self Employed with higher taxes to try a scrape back some of the Billions he has given out which was always going to happen and will be interesting how he goes about doing that and good luck to him if he can pull it off....don’t be surprised if the fuel price starts to rocket up and road tax....the % of people who work knew this was coming it was only a matter of time and not sure who it will hit the most,the small one man band or the big guns....i’am no money expert and get by as I always have but these are very strange times and it’s not over yet...and you have got to be some kind of idiot if all this money he has loaned out and the grants he has given wouldn’t have to be paid back sooner rather then later....there are more intelligent guys on here who know more about the workings of VAT etc then me and be interesting to hear other views...even though I haven’t claimed for anything I would be happy to pay a little extra as long as i’am earning as I don’t want the country to become bankrupt,it’s bad enough as it is with everything else going on.

..... Thank god fr that 😳 thought you had rolled yr new woodchipper  😯 K

[Khriss]

37 minutes ago, kevinjohnsonmbe said:

I know what my reaction would be!

Independance for Cornwall 🤔 ?? K

[Mark Bolam]

1 hour ago, 5 shires said:

You lost me on “Fronted”🤔

You’re not alone Wayne!

[kevinjohnsonmbe]

44 minutes ago, Khriss said:

Independance for Cornwall 🤔 ?? K

As you’ll know K, there really is an active margin that seek such scenarios in Kernow as well as the better known. 
 

What with all the constant whining, even though I think it’s madness, at some point (when it hits a majority) the ‘people’ should be given what they ask for. 
 

 

[5 shires]

9 hours ago, Khriss said:

..... Thank god fr that 😳 thought you had rolled yr new woodchipper  😯 K

Good one K always rely on you to lighten up the day👌