new puritan wrote:
I see the Evening Standard are trying to do a bit of damage limitation on the granny tax, even though it's taking a beating in the other right-leaning papers. They're not quite so keen on the stamp duty hike though, it would seem.http://www.thisislondon.co.uk/news/lond ... 81743.html
If David Cameron has any regrets about economic policy in the past couple of years it may be a nagging suspicion that he and his Chancellor, George Osborne, have been too kind to pensioners. The austerity programme that has been the coalition Government’s hallmark since it came to office has been more even-handed in dishing out the pain than it gets credit for. It is not the rich who have got off lightly because in total they are paying a lot more in tax than they were a few years ago in spite of perceptions to the contrary. Rather the Government has been softest on those at or close to retirement.
For all the talk of the rich apparently paying more tax as a result of this Budget, I've not heard too many complaints from them today. Funny, because the bleating about the 50% rate was relentless even though we're led to believe none of them pay it anyway.
The Standard has a point about pensioners having done relatively well before.
Even some in the Telegraph have noticed that super-rich pushing up house prices isn't good for everyone. The Telegraph at least has pretensions to represent the wider conservative public, not just rich commuters, like The Standard.
The figures about the low take from the 50p rate are a bit of a wheeze. Loads of income was brought forward to when it was still 40p. You can only do that one, so keep the tax at that high level and you should get more coming in. So they cut in, and income gets deferred to when the rate is 45p. So it looks like loads of people who weren't working/ paying tax at 50p are happy to do so at 45p. They might defer a bit more then, till it's 40p.
Take that lefties!