And that is why you pay no tax on the first £325k of inheritance... and likely pay no tax on the first £650k (if your parents were married).
Those tax free thresholds seem reasonable to me.
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UK General Election 2015 | Conservatives win with an overall majority
- Thread starter langster
- Start date
Those tax free thresholds seem reasonable to me.
Out of interest, what do you count this geographic argument to be?
It does target locations with higher house prices yes but then they've enjoyed 20 years of booking inflation which has increased their estates wealth but more to the point this doesn't impact the benefactor. Or are you saying it unfairly targets benefactors from the South? Which is an odd argument
No one in the south east is sat hoping that their house value doesn't go up in case they're children will need to pay some tax.
How do you work that one out? It wasn't Labour who caused a worldwide recession but global finance - the guys who support the Tories. Cameron and co then impose swingeing austerity to make small businesses and working people pay the bill (meanwhile global finance resumes trousering 7-figure bonuses).
@AshfordLad going all RAWK on usCorrect..austerity never ever works. Making the 98% pay for failed economic policy only exacerbates it. Its been 5 years since the economic downturn and its still the centrepiece of the Tory governments economic policy. Put the little man in the hole and dont give him any opportunity to dig himself out.
Let's hope that's a freak poll!
Discussing the result, Martin Boon, of ICM Unlimited, said: “There is inevitably random variation between different polls, which generally falls within a ‘margin of error’ of plus or minus three points. The movement we’ve recorded since the March survey is within that normal bound, albeit only just.”
Boon said the sample chosen looks “demographically sound”, but acknowledges there are signs in the raw data that this sample “could be a just touch too Tory”. In particular, there are more 2010 Conservative voters than ICM would ordinarily expect, and also more voters from the professional occupational grade.
Boon said the sample chosen looks “demographically sound”, but acknowledges there are signs in the raw data that this sample “could be a just touch too Tory”. In particular, there are more 2010 Conservative voters than ICM would ordinarily expect, and also more voters from the professional occupational grade.
There are presently no sitting Labour MPs in the five constituencies of Somerset or the two which make up Portsmouth.
I'm not necessarily just talking about work drying up, I don't blame Labour for the recession. All I know is they made a lot of changes that affected plenty like me in a lot of areas, and only now is it beginning to recover. I've been fed up for a long while, like most I imagine, trying to delve into the depths of each party and so now I make my voting decisions based on what I know and see.
I've never been a Tory voter, I'm well aware of what they primarily stand for. But as a very small business owner, about to enter the property market for the first time and having two little ones to worry about, I just can't see Labour getting it right at the moment. I'm sure there's realms of stats and figures and opinion on that one, but I honestly don't really believe Labour are in any kind of state to take over again.
Yeah I read that. I think it will be a case of people will wait until the last minute and unless anyone makes a fatal error or pulls a proverbial political rabbit out of a hat, then they will stick with what they know and vote as they usually do. Better the devil you know and all that. The deciding factors could well be how well the SNP do and how many votes they take 9 (or not) from Labour.
The Guardian front page today is crowing about the Guardian taking the lead!I wouldn't take ICM too seriously, they also polled YES 6 points ahead in the Scottish referendum 1 week before it took place. 16 points amiss
Good spot, that's pretty shitty.
Nah, Labour and SNP have pretty much no choice but to do a deal with the other. The election is, as ever, going to be decided by Labour/ Tory swing states.
Who here is in a marginal constituency? I'm in Ealing Central this time round... straight shoot out between the Conservative incumbent and the Labour challenger (I'm assuming the Lib Dems will be irrelevant this time). Could be close.
Labour's got East Oxford wound up. The lib dems used to come in an almost close second but since they fecked the students over they've no chance of even maintaining the gap. Greens have a chance of stealing the lib dems vote though and have been targeting us, but I can't see anything other than an overwhelming Labour majority.
@Silva are you by any chance in Oxford West and Abingdon?
East. Student vote's pretty big here with both universities having thousands of students in the area.
West is conservative, they've got the money and not many young people. West was extremely close last time but I suspect they Tories will win with people abandoning the Lib Dems for either the tories or parties more likely to oppose them.
Perhaps i am misinterpreting Ed Balls' words from the interview, but it reads as if Labour have spent the Mansion Tax revenue twice. I was under the impression that the money was dedicated to the recruitment of nurses, whereas it is now being applied to other uses.
I have no particular local knowledge to bring to bear here, however if any of them were marginals this is going to call for some impressive PR on the part of a prospective candidate (not this sort of thing is unique to Labour but it looks fairly blatant in this case). I suspect that both Labour and the Tories are contemplating further defence cuts, so how much traction exists there must be open to question.
There seems to have been some sort of mix up with usernames there....
You're misunderstanding, he's mentioning the tax as funds raised from it will be put into Scotland through additional doctors and nurses.
On the subject of Scotland and the strong words used by the Labour MPs there, something radical may be needed after the election. Perhaps even a genuine separation of the Labour party in order to form a unionist party that can fight the SNP for the left vote, sort of similar to the CDU/CSU in Germany.
West has a tiny majority and its very much in the balance. Could be a Labour gain if enough people like you go and vote instead of staying at home
I will be voting.West has a tiny majority and its very much in the balance. Could be a Labour gain if enough people like you go and vote instead of staying at home
538 and May2015 forecasting a Labour gain, but looks squeaky-bum close.
According to May2015 I'm in the 13th safest Tory seat in the country. Yaaay... At least Labour have a good chance of taking two of the Brighton seats from the Tories. Hope Lucas holds on to hers.
Where did I say any of that? Wrong poster perhaps?
Why does everyone I know from Ashford talk like this (ignoring the RAWK sections, which on their own make no sense)? What do they put in the water down there?
I think that
It's the reason why Gordon Brown shied away from taxing the hedge funds.
It's the reason why Gordon Brown shied away from taxing the hedge funds.
Eh?
The tax grab will also hit everyday pension funds, although Labour obviously has form for that. Hedge funds are obviously singled out though, being one of the latest social demons.
Agree with this, back in the day when I studied economics it was well proven that increasing tax rates didn't increase tax revenues. Having worked at blue chip corporates for the last 16 years I know that the top rate of tax works into decisions about where talent is located, and the tax on business generally is massive in investment decisions. Labour just smack of soundbites without thinking through the impact, just anti business, yet insist they will grow the economy more successfully, it's a joke, a kid in a sweetshop as far as spending is concerned as well.
No, that's funded by altering rules around pension tax relief on high incomes.The flight of business has already started. Its very slow right now but will start to show up in the bottomline soon enough. The bank I interned with last year was winding down an energy trading desk. The people who used to run the desk had all moved to Dubai, Singapore and Hongkong.
They claim that the will reduce out uni costs by bringing in a "Banker bonus tax", I fear for the lowly paid branch rep at the high street cuz the real fat cats are already hitting the escape button
It does if you stamp out tax avoidance-evasion at the same time.
so Rawkish mate
No, what is known is that eventually if you keep hiking up the tax rate you will start to see a decline in revenues. The question is at what point does this happen. If there was some magic formula that meant you could decrease taxes and see increased tax revenues, every country would implement it because it is win win. The truth is that it only tends to work when taxes are at a higher rate than they currently are in the UK.
You're suggesting you can't tax banker bonuses? Odd, because that's exactly what was done back in 2010.
Of cou
Yep that's why economist study what happens to tax revenue when you raise taxes beyond a certain tipping point, which Labour will take the country beyond.
Yep that's why economist study what happens to tax revenue when you raise taxes beyond a certain tipping point, which Labour will take the country beyond.
"select few" is an odd term to use for the group people that will benefit - it's not like it's the 25,000 richest estates. You'd be hard pressed to identify who will benefit at this point in time. Leaving aside the fact that you don't know who is going to die or who/how wealthy the inheritors are going to be, inheritance tax is easy to avoid. You only need to look at the number of houses there are in the country (owned outright) that are worth more than the threshold (not even taking to account other assets). Do you think it is anywhere near as low as 5%? It is a tax on the unprepared, and the wealthy are scarcely less able to avoid it.
In any case, the tax cut is tapered off so that it has no effect on the truly wealthy.
The top 1% of earners on the other hand (who are paying for it) are easy to identify - the exact set of people that Labour have been calling for to be taxed (when not doing the opposite). It's a transfer of wealth from the very highest earners to the mid-to-high wealthiest. Nothing to do with cutting services.
My constituencies generally always been a very comfortable safe seat for Labour, although it's one which the SNP may take, but Labour also may just hold onto. Difficult to tell who'll take it right now.