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What taxes do you think will go up to pay for the coronavirus bailout?


HolyCow
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Doesn't look like I'll benefit from the bailout but apparently Sunak is going to increase taxes rather than print (he'll do this too but try and use taxes as much as possible) to pay for all of this. So what taxes do you think will go up/change/be introduced to pay for all this? I am already paying huge amounts and don't claim any benefits. Fuck.

 

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They can't put taxes up, the economy will be on it's knees. They may use it as an excuse to put self employed NI payments on par with paye, but anything more will be self defeating as the best way to generate tax revenue is to grow the economy.

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whitevanman
22 minutes ago, snaga said:

They can't put taxes up, the economy will be on it's knees. They may use it as an excuse to put self employed NI payments on par with paye, but anything more will be self defeating as the best way to generate tax revenue is to grow the economy.

They can and will put taxes up.

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Ok, here's my guess. A new tax which with an official name but will become commonally known as the Corona Tax.

Initially people will accept it, because its to pay for the NHS (insert worthy, moral cause of your choice). We can expect to see lots of virtue signalling from celebs who pay the tax, perhaps a flat rate of £100 per person and of course to the celebs hundred quid is nothing, did anyone say regressive taxation?

It's easy to criticise so twats like Cuntbyn and Brown will pop up from time to time to say (with the benefit of hindsight) what the Tories (Boris) did wrong.

But after the dead cat bounce as we slide into a deep recession and people struggle as the reallity that the universe does not care presents itself there will be corona riots.

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longtomsilver

They'll soak the rich so I see higher rate relief on pensions being taken away and VAT in school fees, elsewhere we won't see more than a few pennies on income taxes but the biggest rise will come via inflation which is a form of tax anyway. I see most offers in the supermarkets have been withdrawn and new ones mask 10% price increases. Take Kellogs Krave for example (always been £3s in the supermarkets and £2s in the pound shops) latest offer is £2 displaying the normal RRP alongside at £3.30 that's 10% and I can see this happening across the board especially with the GBP crashing.

Councils will continue to ramp up the social care charge and use this event as reasonable cause. My council tax has gone up 20.5% for next year just to show we're in it together! The benefits of working my bar job (without being on the UC bandwagon) are so marginal I could stop work at 50 and get my rent paid, council tax paid and take the £317 employment support allowance, that's £800 vs £1000 wages. That said I prefer being in work rather than out so  will opt for the latter.

@null; it will be added to the social care charge which AFAIK isn't capped.

Edited by longtomsilver
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9 minutes ago, longtomsilver said:

They'll soak the rich so I see higher rate relief on pensions being taken away and VAT in school fees, elsewhere we won't see more than a few pennies on income taxes but the biggest rise will come via inflation which is a form of tax anyway. I see most offers in the supermarkets have been withdrawn and new ones mask 10% price increases. Take Kellogs Krave for example (always been £3s in the supermarkets and £2s in the pound shops) latest offer is £2 displaying the normal RRP alongside at £3.30 that's 10% and I can see this happening across the board especially with the GBP crashing.

Councils will continue to ramp up the social care charge and use this event as reasonable cause. My council tax has gone up 20.5% for next year just to show we're in it together! The benefits of working my bar job (without being on the UC bandwagon) are so marginal I could stop work at 50 and get my rent paid, council tax paid and take the £317 employment support allowance, that's £800 vs £1000 wages. That said I prefer being in work rather than out so  will opt for the latter.

@null; it will be added to the social care charge which AFAIK isn't capped.

Great post. Always good when real world examples are given. Regarding inflation, we just ordered a pizza hut (much to my shame) but I'm sure all of the deals have crept up a few pounds in price or the same price but less for your money.

I think inflation is certain although I don't know if it will be short term or long term. The whole economy has suffered a big hit on extra costs and unfortuntely those costs are wasted costs - i.e just an extra cost rather than a spend to improve or buy new equipment. Thats cost and reduction in efficiency will be passed on.

At the moment I really have no idea where its all heading but take comfort from at least getting a heads up from those who post on here.

 

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Why don't they control spending on useless fucks who don't contribute to society.....rather than tax.

 

Mrs Thatcher understood....and was the only PM to really care...IMHO

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One percent
17 minutes ago, Wahoo said:

Why don't they control spending on useless fucks who don't contribute to society.....rather than tax.

 

Mrs Thatcher understood....and was the only PM to really care...IMHO

I think we are gonna find out very quickly who has the resources to stand on their own two feet and who are the useless bennie dependent idiots. 

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Democorruptcy

VAT hits poorer people hardest so they might up it from 20% to 25%

Pension age increase hits poorer people hardest, rich folk retire earlier anyway so increase that from age 67 to 72

 

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2 hours ago, Wahoo said:

Why don't they control spending on useless fucks who don't contribute to society.....rather than tax.

Because we would no longer have a House of Commons or a House of Lords!...next question? :-)

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OurDayWillCome
1 hour ago, Democorruptcy said:

 

VAT hits poorer people hardest so they might up it from 20% to 25%

 

That’s the one I’m going with - but I think they will raise it to 22.5%

2 hours ago, longtomsilver said:

and VAT in school fees

My daughter starts at a private school in September, so that’s a given 😂

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Wight Flight

Online sales tax ' to save the high street' would be my bet.

Except it will make sod all difference to the high street, but will be more acceptable than an increase in vat whilst doing the same job.

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Maybe this virus will push society right wing? It must be making a lot of SJWs realize that life can be absolutely shit even in Europe.

Why should we be bunging £12billion a year to the third world? Why should we allow third worlders into Europe? Why should smackheads get benefits?

Maybe, just maybe this virus will mean that productive members of society get a larger slice of the cake?

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One percent
1 minute ago, Great Guy said:

Maybe this virus will push society right wing? It must be making a lot of SJWs realize that life can be absolutely shit even in Europe.

Why should we be bunging £12billion a year to the third world? Why should we allow third worlders into Europe? Why should smackheads get benefits?

Maybe, just maybe this virus will mean that productive members of society get a larger slice of the cake?

I think this virus will crash the economy and society as we know ot. If it’s real, then the establishment will lose control of it. If it’s made up manipulation, then the reason is for a great reset. They system is beyond fucked and they know this. 
 

fwiw, my money is on the second scenario. 

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Green Devil
2 hours ago, Democorruptcy said:

VAT hits poorer people hardest so they might up it from 20% to 25%

Pension age increase hits poorer people hardest, rich folk retire earlier anyway so increase that from age 67 to 72

 

You are Tory Scum and I claim my 10 cents!

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longtomsilver
1 hour ago, OurDayWillCome said:

That’s the one I’m going with - but I think they will raise it to 22.5%

My daughter starts at a private school in September, so that’s a given 😂

My daughter finishes privates education and goes to a state secondary school in September. Without my knowledge exMrsLTS put an application in for the same school as her best friend. Her name came up last week (off the waiting list) and that was that 🤷🏻‍♂️

I think you're right about the VAT. I remember when it was 15% and like all taxes they only ever seem to go up! 

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OurDayWillCome
18 minutes ago, longtomsilver said:

My daughter finishes privates education and goes to a state secondary school in September.

We have one of the best state secondary schools on our doorstep, it’s for girls only - if you don’t coach the kids for the exam from an early age you don’t stand a chance :-(

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The poor won't pay

The rich won't pay

The man in the middle will.

I can't get fuck all from this give away, but no doubt I'll fucked for being able to continue working

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longtomsilver
13 minutes ago, OurDayWillCome said:

We have one of the best state secondary schools on our doorstep, it’s for girls only - if you don’t coach the kids for the exam from an early age you don’t stand a chance :-(

I understand your reasons and would have wanted my daughter to stay where she is as it's very academic and the small class sizes allow for thr style of teaching/coaching you mention. The six form is tiny, barely 16-18 pupils with some going onto Oxbridge and all to red brick universities. My daughter is academic like her mother so she'll do well wherever she goes 

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OurDayWillCome
4 minutes ago, longtomsilver said:

I understand your reasons and would have wanted my daughter to stay where she is as it's very academic and the small class sizes allow for thr style of teaching/coaching you mention. The six form is tiny, barely 16-18 pupils with some going onto Oxbridge and all to red brick universities. My daughter is academic like her mother so she'll do well wherever she goes 

That sounds just like the school my daughter is going to. Wouldn’t surprise me if it’s the same school!

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