"Budget wishlist for a better Britain"
In response to Chancellor Rachel Reeves' recent budget speech, many experts are calling for a more comprehensive and progressive fiscal policy. One such advocate is Phil Tate, who urges the chancellor to prioritize social housing by allocating sufficient funds to expand programs and deliver well-paid jobs. This would not only alleviate homelessness but also reduce the burden on private rents.
However, Tate also suggests that capital gains tax rates should be equalized with income tax rates, which could generate an additional £14-£15 billion in revenue. While this proposal has merit, it is nothing compared to the bold measures proposed by Richard Mountford and Ruth Lister.
Mountford advocates for a tiered-reserve system to save £20 billion per year and restricting pension contribution tax relief to the basic rate, which could raise an additional £15 billion. This would be a progressive measure that wouldn't affect anyone's take-home pay. Lister also emphasizes the importance of addressing child poverty, calling on the chancellor to give due priority to the upcoming strategy.
On the other hand, Tony Samphier criticizes the proposed policies, arguing that clipping the Bank of England's wings in relation to inflation is a problematic idea that would extend the cost of living crisis and disproportionately affect the poor. Instead, he suggests that restricting pension contribution tax relief could be a more progressive solution.
Ultimately, the government must adopt a more comprehensive approach to tackle Britain's financial challenges. By prioritizing social housing, addressing child poverty, and implementing progressive fiscal policies like tiered-reserve systems, they can ensure a better future for all citizens.
In response to Chancellor Rachel Reeves' recent budget speech, many experts are calling for a more comprehensive and progressive fiscal policy. One such advocate is Phil Tate, who urges the chancellor to prioritize social housing by allocating sufficient funds to expand programs and deliver well-paid jobs. This would not only alleviate homelessness but also reduce the burden on private rents.
However, Tate also suggests that capital gains tax rates should be equalized with income tax rates, which could generate an additional £14-£15 billion in revenue. While this proposal has merit, it is nothing compared to the bold measures proposed by Richard Mountford and Ruth Lister.
Mountford advocates for a tiered-reserve system to save £20 billion per year and restricting pension contribution tax relief to the basic rate, which could raise an additional £15 billion. This would be a progressive measure that wouldn't affect anyone's take-home pay. Lister also emphasizes the importance of addressing child poverty, calling on the chancellor to give due priority to the upcoming strategy.
On the other hand, Tony Samphier criticizes the proposed policies, arguing that clipping the Bank of England's wings in relation to inflation is a problematic idea that would extend the cost of living crisis and disproportionately affect the poor. Instead, he suggests that restricting pension contribution tax relief could be a more progressive solution.
Ultimately, the government must adopt a more comprehensive approach to tackle Britain's financial challenges. By prioritizing social housing, addressing child poverty, and implementing progressive fiscal policies like tiered-reserve systems, they can ensure a better future for all citizens.
. If they wanna talk about makin money, lets do somethin about addressin child poverty 1st, you feel? 
£20 billion in reserves sounds like a pretty good start for that. And Tony's got some valid points too, I get why he's worried 'bout inflation, but its not fair on the poor fams 
. Social housing is always the most impactful way to tackle homelessness. It's not just about throwing money at the problem, but about creating real change. And why should we have to choose between paying rent or paying bills? 
so i think we need to visualize this... imagine britain as a puzzle 
let's draw a simple graph:
(less expensive living) 
! I think it's time for the government to get real about tackling homelessness 
. Social housing is not just a matter of throwing money at a problem, but also about creating opportunities for people to build a life without being trapped in the cycle of poverty. Phil Tate's suggestion to allocate funds for well-paid jobs is genius 
! And I'm all for equalizing capital gains tax rates with income tax rates - it's only fair that everyone contributes based on their means 
. It's time for the government to take bold action and not just tinker around the edges 
!
. A tiered-reserve system sounds like a solid idea, but we gotta make sure it doesn't just benefit the wealthy few. I'm all for clippin' the wings of the Bank of England, too - that's just another way of sayin' they're more worried about keepin' prices up than helpin' us common folks 
. We need a gov't that's gonna prioritize our well-bein', not just line the pockets of the elite 
? Just kidding sort of. But seriously, expanding social housing and tackling child poverty is like the UK's financial equivalent of getting a second mortgage... it's long overdue! 
On a more serious note, I think equalizing capital gains tax with income tax is like splitting a pizza - everyone gets a slice, no one goes hungry. And let's be real, £14-£15 billion could buy a lot of new homes and not as much fancy office furniture 
! I mean, £14-£15 billion from equalizing capital gains tax rates? That's peanuts compared to the £20 billion Mountford is proposing, which actually makes sense. And don't even get me started on child poverty – it's ridiculous that we still have people struggling to make ends meet in this country 
. We need more than just empty promises from our leaders. The government needs to step up and provide real solutions, not just a bunch of piecemeal measures that might not even work as planned 
but at the same time, I'm not sure if equalizing capital gains tax rates with income tax rates would be that effective... 
also, Richard Mountford's proposal for a tiered-reserve system sounds like a good idea but is it really fair to restrict pension contribution tax relief at all? 
. I don't know what's wrong with these people in charge, it's like they're trying to make things worse 
.
Social housing is literally the bare minimum, but the more I think about it, the more I'm convinced that we need to get our act together as a nation. And those experts are right – we can't keep relying on piecemeal solutions when we need something more substantial.
But it's like, why not go big or go home? 
And then there's Tony Samphier being the voice of reason, saying that we need to prioritize progressive solutions over clipping the Bank of England's wings.
We need to think about how this will affect the poor and vulnerable, not just the well-off. And let's be real, who gets to decide what constitutes "progressive" policy? It's always a game of politics and power struggles 
... I mean, isn't that just gonna cut into people's retirement savings? wouldn't it be better to actually help them out instead of finding ways to clip their wings? 
! It's like, we need some real change in the way our government thinks about money and how it affects people's lives. I mean, prioritizing social housing is a no-brainer – who wouldn't want to be able to afford a decent place to live without breaking the bank? And equalizing capital gains tax rates with income tax rates would be a huge win for the economy too 