10% tax band

[EMDEE]

What do others think about the abolition of the 10% tax band?

This issue is currrently a problem to G Brown. Is it going to contribue to his downfall?

Don't forget that he was chancellor when this despicable measure was announced.

It grieves me greatly to see a Scottish Prime Minister making an arse of it, but I think he was left a poisoned chalice by Tony Blair, who although ethnically Scottish, appeared to conceal the fact!

[bill]

Scottish - English - Welsh - Irish, what's the difference, all politicians are like pigs at the trough.


Maggie alone being the exception.

[ionnsaigh]

Scottish - English - Welsh - Irish, what's the difference, all politicians are like pigs at the trough.


Maggie alone being the exception.

The Scottish Irish and Welsh are Celtic Peoples - the English are not - simple statement of fact.
Of course lets not forget Maggie - the sow - who stole the milk.
The abolition of the 10% tax band is an attack on the working poor. Brown appears ineffective in taxing the super rich and business barons. The tax dodge of the super rich - that transfers assets to their wife's names - would more than adequately make up any shortfall. Another nail in the coffin - makes a mockery out of new labours commitment to lift children out of poverty.

[Govangirl]

The tax dodge of the super rich - that transfers assets to their wife's names - would more than adequately make up any shortfall.

Aye, and all the billions spent on war in Iraq and Afghanistan, the renewal of the Trident Missile system, the bonuses paid to these greedy city slickers, the fight for ridiculous I D cards, and more - the war in Iraq is so far at £5billion. It is unbelievable that Gordon Brown is now poised to take £7billion from the poorest members of our society. He should be supporting those struggling to make ends meet, not knifing them in the back.

[Hume]

For starters, the 10p band has not been abolished. Earned income over the personal allowance will now be taxed at an initial rate of 20% rather than 10% but the 10% or 'starting rate' band still exists for dividends and interest. Not much comfort to lower earners I accept.

I agree it is a disgrace that it is lower earners who will be most affected though, although the effect diminishes are earnings increase. It really was the epitome of political spin that this was concealed behind a 2p cut in the basic rate!

[EMDEE]

What I find puzzling is why there is such a stink about it now that it has kicked in, when a whole year and more has elapsed since Gordon Brown made the announcement. Maybe something could have been done about it in that year. It's a bit like locking the door after the horse has bolted.

[EMDEE]

For starters, the 10p band has not been abolished. Earned income over the personal allowance will now be taxed at an initial rate of 20% rather than 10% but the 10% or 'starting rate' band still exists for dividends and interest. Not much comfort to lower earners I accept.

This is a bit of a turnaround for the Labour Party. The pre-Thatcher Old Labour Government of the 1970s had an Investment Income Surcharge on Unearned Income. If I remember correctly it was at the rate of 10% on Unearned income over £1000pa and over £2000pa it was 15%. This was over and above the Income Tax that had already been charged on this income.

Bearing in mind that at that time, there was a multi-rate tax system with a top rate of 83%, this meant that the effective potential top rate of tax for wealthy individuals was 98%. They allowed them to keep 2p out of every £1.

As I say, a bit of a turnaround.

[Tosh]

What do others think about the abolition of the 10% tax band?

This issue is currrently a problem to G Brown. Is it going to contribue to his downfall?

Don't forget that he was chancellor when this despicable measure was announced.

It grieves me greatly to see a Scottish Prime Minister making an arse of it, but I think he was left a poisoned chalice by Tony Blair, who although ethnically Scottish, appeared to conceal the fact!

People seem to have forgotten that it was Brown that introduced this tax band less than 10 years ago.

[gordon the moron]

People seem to have forgotten that it was Brown that introduced this tax band less than 10 years ago.

Hey, you know what they say? A week is a long time in politics.