Kwarteng axes higher income tax for top earners and…


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Kwarteng axes higher income tax for top earners and accelerates 1p cut for all
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846
642 shares, 846 points
metallicpearl

35 Comments

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  1. I’m astonished it took Liz Truss like a week to establish herself as the most vile cunt of a PM we’ve ever had

    Fuck that piece of shit

  2. Can someone **please** explain to me what the fuck is happening? Are we in an episode of Black Mirror?

    It seems almost a daily occurrence at this point that more and more bullshit is happening and nobody is doing anything about it.

    Like, can someone, *anyone* step in? Please? Charles?

  3. Tories giving a big tax break for the wealthiest!?

    I’m shocked I tell you, shocked!

    Cake for them, crumbs for the rest of us.

  4. I’m genuinely speechless at this “budget”. No increase of the personal allowance, no increase of the 20% bracket, no increase of the 40% bracket but a removal of the 45% bracket.

    Tax cuts for the rich paid for by extra borrowing. Borrowing the plebs will pay back in future years.

    This makes it very clear that this government more so than any previous Tory government is purely out for big corporations and fuck everyone else. Given that small businesses hire the majority of people in the country, this is going to come unstuck very very fast.

    This is not a budget for growth, it’s a budget for thousands of closed businesses, an increasing unemployment rate and poverty for low earners.

    At this point they have lost the next general election by a country mile. It can’t come fast enough.

  5. Utter cuntery. And I say this as a relatively high earner who may even benefit from this financially.
    But how does that help me when I can’t get to hospital in an ambulance, the police don’t respond to anything short of a riot and public spaces fall apart.

  6. Can you feel that trickle down stream of piss.

    You might not feel the benefits today or tomorrow, but as the weather turns colder that warm piss may be your only source of heat.

    the Tory party

    Here to help^our^mates

  7. Our own people are suffering a cost of living crisis, so they abolish VAT for visitors….surely a reduction of VAT for the British people would make much more sense!

  8. I want to see the costing for this.

    How much money does the treasury loss? Where are they replacing that money from? What is being cut to pay for this? How will we pay for our vital services?

  9. It’s a tough one.

    On the one hand, I will personally benefit reasonably well from this tax cut.

    On the other hand my daughters school can barely afford to pay it’s teachers, it’s impossible to get a doctors appointment, it took me two weeks to see a dentist and the police don’t have the man power to look into my garage being broken into.

  10. So many uses of the word “cut” being used and no real cuts made.

    Oh wait, I lied. My income tax will go down by 1p….. In 6 months.

  11. They know they’re not winning the next election, don’t they? This is just them doing what they’ve always wanted to do in one fell swoop now for the final few years. By the time they lose the next election all of their friends will have made hundreds of thousands of pounds.

  12. Remember when we had 8 years of austerity because ‘balancing the books and reducing debt’ was a national priority ? It was the same government until 4 years ago.

    Now pissing money away with tax cuts, and no thought for tomorrow.

  13. Feed The Rich, Fuck The Poor.

    This country is an walking, talking, living, breathing experiment for the unelected cranks who fund the Tories.

  14. This is of course benefitting everyone and not just the champagne guzzling mates in cabinet and parliament who have high earning friends who will give any extra income to those beneath them like the benevolent and charitable individuals they are.

    If you believe that your name is Rees-Mogg or Truss.

    What a race to the bottom.

  15. You all just need to remember, millionaires and billionaires are ready to invest and create more jobs, they just needed that extra thousands of pounds of tax cut. NOW they can finally invest, thank god they got that extra money to help encourage them to invest and create more jobs in the UK. The millions before weren’t enough, now they’ve got that 10 grand tax cut, they can finally afford it.

  16. This budget is stupid. It will stoke inflation, forcing the bank to raise interest rates further which will stifle investment – creating exactly the opposite outcome the government is after.

    And from a more general point of view, as a top band earner I’m getting a sizeable tax cut in this budget. But what is the point? I was not at any risk of struggling in the coming economic shit show anyway.

    I’d much rather have a properly funded NHS, schools, public transport and a police force that at least turns up to armed burglaries. Or you know, help for the millions of people who legitimately will be struggling over the next few years.

    There are going to be riots in the streets when people are literally freezing in their unheated and uninsulated british homes living off a packet of crisps and a tesco sandwich.

  17. I’ve generally been economically conservative and socially liberal but this to me is way beyond the pale.

    Getting rid of 45% higher rate is hugely regressive compared to the 1% drop in basic rate (which also benefits higher rate taxpayers). Same with the NI decrease, benefits all equally

    The reversal of the rise in corporation tax only benefits companies doing well as those struggling already likely don’t pay corporation tax

    All of the tax cuts either benefit everyone equally or only target well-off people. No targeted support for low earners while there is some for the highest earners is awful.

    Socially, the reversal of the rise in alcohol duty is a terrible message to be sending out and the roll-back on the ban on junk food advertising is horrible. Fracking is not our way out of the energy crisis either

    Absolutely nothing to like so far. Really really depressing

  18. So someone earning 175k will only save 10-11k from this tax cut. I think I’m getting less than 200 quid a year to spend at bingo…

  19. The big one has to be how people who aren’t paying taxes in the UK will no longer have to pay VAT. Given how many of our wealthy are non-dom for tax purposes this essentially means they no longer pay any taxes in the UK.

  20. I earn 78k a year and I can’t see how much this budget would help me, let alone someone on closer to min wage who truly need the help?

    Yet someone who would’ve been on the 45% threshold will now likely save 1000s a year?

  21. A long, cold winter will be the last thing people need to survive but it might just make people realise that the Tories really are here to make the lives of the average person poorer. The Tories are preparing for civil unrest and they are right to do so, I just cannot see it not happening come December or January the way things are going.

  22. Wow, a fully regressive tax system laydeezngennelmen

    This is just a cash grab on their way out the door. Fucking shameless.

  23. I spent the best part of my 20s educating people not to vote Tory, discussing the alternatives and pointing out their long term goals and most if not all have slowly come true. People ignored me and even gloated at me in the last election when BJ got in.

    I’m on a higher tax rate and this will benefit me massively, time to start gloating back at the people who are on minimum wage who did so to me over the last election and Brexit, it’s only fair. /s

  24. BBC report that the energy bill will cost us £60Bn for **six months**.

    All those people who were fucking screaming about how £170Bn over two years in excess profits was ‘bullshit’ – what now? Clearly the scale of profiteering is much, much, much higher than you thought. Where you at now that the cost is out in the open?

    Somebody tell me they’ll only make £5Bn from us in excess profits again. Please, so I can just block you for being profoundly stupid.

  25. So if you earn over £150k (which he does, as Chancellor, incidentally) this is a 5 percentage point cut in tax.