Spring Statement: Rishi Sunak vows to cut income tax before 2024 election

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Chippy_Tea

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I doubt this is going to make many of us less worried about the cost of living as it says below Mr Sunak had failed to recognise the impact of the cost of living crisis on families.


Chancellor Rishi Sunak has promised to cut the basic rate of income tax by the next general election in 2024.
He also cut fuel duty by 5p and sought to protect lower-earners from the impact of April's National Insurance increase, in his Spring Statement.
But he said inflation would soar to 7.6% this year, amid uncertainty caused by the war in Ukraine.
Labour said Mr Sunak had failed to recognise the impact of the cost of living crisis on families.
The chancellor said the government would "stand by" people hit by rising prices, with a fuel duty cut due to take effect at 6pm, and other measures.

He rejected calls from the opposition and some Tory MPs to scrap April's 1.25% National Insurance increase for workers and employers, which is designed to raise cash for the NHS and social care.
Instead, he raised the threshold at which workers start paying National Insurance from £9,600 to £12,570.
This would amount to "a £6bn personal tax cut for 30 million people across the United Kingdom, a tax cut for employees worth over £330 a year," said the chancellor.
And, in a surprise announcement at the end of his statement, he said his ambition was to cut the basic rate of income tax by 1p in the pound.
"It would clearly be irresponsible to meet this ambition this year," he told MPs, but official forecasts said inflation would be "back under control" and national debt falling by 2024, making a cut possible.
"I can confirm, before the end of this Parliament, in 2024, for the first time in 16 years, the basic rate of income tax will be cut from 20p to 19p in the pound.
"A tax cut for workers, for pensioners, for savers. A £5bn tax cut for 30 million people. It is fully costed and fully paid for in the plan announced today."
Labour's shadow chancellor Rachel Reeves said Mr Sunak had made an "historic mistake" by pressing ahead with the National Insurance increase.
She told MPs: "In eight days, people's energy bills will be rising by 54%, two weeks today the Chancellor's tax hike will start hitting working people and their employers.
"His national insurance tax rise was a bad idea last September and he's admitted it's an even worse one today."

https://www.bbc.co.uk/news/uk-politics-60848315
 
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Hi Chippy they are talking another 40% on gas and electricity in October and inflation near 9% god help us.
on the plus side this year could see a lot of new members

Home made wine might become more popular as you don't need to boil it. ;)
 
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That man is not based in our world. Just watched him on tv struggle to answer the presenters questions about basic prices for supermarket items like bread and milk and thinking he is doing us a favour by knocking 5p of fuel while leaving home heating oil as it is and rising.
 
The penny off the pound income tax carrot dangle that will take place just before the next election was an insult we need it now.
 
On 5 live this morning one person in full time employment said after paying rent and bills she only has £150 left for the rest of the month, she no longer uses the oven or heating and there have been many similar calls this morning, where is all the millions we were supposed to save when we left the EU and why are we not putting a halt to high speed rail the world has gone mad.
 
We've never had it so good. 😂😂😂😂

You lot who voted this barrel of scum into power are getting everything you voted for and in spades, so stop whining. Those who didn't, where are the demos, marches, taking up of metaphorical pitchforks and weilding of cudgels?

It's YOUR government. If you dont like it, then do something about it!
 
We've never had it so good. 😂😂😂😂

You lot who voted this barrel of scum into power are getting everything you voted for and in spades, so stop whining. Those who didn't, where are the demos, marches, taking up of metaphorical pitchforks and weilding of cudgels?

It's YOUR government. If you dont like it, then do something about it!
Not my government. Mine is worse.
 
A significant part of the problem with our politicians is the fact that most of them are a class of people who think that £82000 a year plus very generous expenses isn’t enough to live on. Several have said as much at various times, which only shows just how out of touch they are with ordinary people.
 
A significant part of the problem with our politicians is the fact that most of them are a class of people who think that £82000 a year plus very generous expenses isn’t enough to live on. Several have said as much at various times, which only shows just how out of touch they are with ordinary people.
I agree with you @TonyT , so why do we elect them? Another significant part of the problem is that they are utterly contemptuous of anyone and everyone outside of their little clique; including the law, including the queen, everyone.
 
I agree with you @TonyT , so why do we elect them?

How are we ever going to change things while we have this bent system in place?


Minority rule
The idea of a minority ruling over the majority goes against our most basic ideas about democracy. But with First Past the Post, it's the norm.
For about 90% of the time since 1935 we've had single-party 'majority' governments, but not one of them had the support of a majority of voters. The Conservatives currently hold a majority of seats with just 43.6% of the votes. In the 2019 election they gained an extra 48 seats despite an increase of only 1.2% of the vote share. Almost since the first general election, politicians who most of us didn't vote for and don't agree with have had the power to govern the UK however they like.

https://www.makevotesmatter.org.uk/first-past-the-post

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I don't see how a democratically-minded voter could object to PR. His or her persuasion might not be majority thinking, but at least it would be represented to the extent that it was representative of the voting population. I'd like to be able to have the luxury to vote Green , if I wanted to, but how is that going to challenge the R-sole in my constituency who brags that he doesn't even need to campaign because his seat is so safe. I've even had to vote Lib-Dem rather than my first choice as I thought they might at least have had a chance. FPTP is a crazy system.
 
British politicians, and the Tories in particular, clearly still believe a cut in income tax is catnip to the Great British Public. There is no economic reason for reducing income tax at all, and if a Chancellor wants to reduce taxes, there are much better candidates. The only reason Chancellors promise to cut income tax is because they believe it will win them votes in the next election.
 
cutting income tax has limited benefit for me. I'd rather the tax thresholds were raised as this would benefit those on lower pay as well as those who planned for their retirement to not require state aid.
 

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