I think as human beings we always attach ourselves to views that mirror our own

Which is not always healthy, it’s important to challenge ourselves with alternative views occasionally!
My personal view on tax is that it is inevitable that tax will have to increase, which is never going to be popular.
RR scored a spectacular own goal before she even took office in declaring she would not raise VAT, income tax or National Insurance rates.
She has instead had to scramble around the back of the sofa looking for soft targets which carry less criticism.
I struggle with wealth taxes as many of my clients (I’m an IFA) have built sizeable assets (and paid lots of tax in the process) having come from very humble beginnings.
Psychologically those who come from little and achieve financially are often insecure about money and like the reassurance of having assets.
There is also the desire to pass wealth to family when often they inherited nothing themselves.
My personal view is income tax is the most transparent route to raising extra taxes - I actually think Labour should axe Reeves and use the opportunity to wipe the slate clean.
A 2p rise in basic rate and higher rate tax thresholds would probably suffice.
This would have to be accompanied by a crackdown on waste in the civil service to make it palatable, and also a benefits crackdown of fraudulent recipients.
Easier said than done!
And as for final salary civil service pensions….

Posted By: JoeyDeacon on June 28th 2025 at 16:43:11

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