Thread: Budget
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Roger Roger is offline
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The message
from "Dave Plowman (News)" contains these words:

I am not sure whether you are arguing that VED is a good deal for low
mileage drivers on the basis that they would save because other costs
would be so much lower or whether you think that equity has no place in
taxation. If the later you are in tune with NuLabour who have gone out
of their way to penalise those with taxable incomes below £15000 pa (who
don't get tax credits) by abolishing the 10% band.


The overall taxation is a difficult thing to assess. Personal allowances
have gone up as have child allowances etc.
But were you really expecting taxation reductions in the present economic
climate? Oh - don't expect them from the Tories either if they get in at
the next election, according to the news this morning. Only in their
second term. And just how they can predict world economics then...


Personal allowances and band boundaries have gone up by 4% but the
£15000 above is culled directly from a table in The Independent which
seems to ignore the need to compensate for inflation. On that basis most
people covered by The Independents many tables make modest gains but,
being the Independent those on annual incomes below £10,000 and
pensioners too young to receive their OAP are ignored. In the tables on
incomes from £10,0000 to £150,000 the biggest winner is a pensioner
couple aged 65 - 74 in the range £90,000 to £150,000 with a monthly gain
of £132 and the biggest loser a single pensioner aged over 75 on £10,000
with a monthly loss of £36.

--
Roger Chapman