What are Rachel Reeves's options after U-turn on income tax rates?

W

Wild Wolf

Rachel Reeves, the UK's Chancellor, has abandoned plans to increase income tax rates for the first time since 1975 in this month's budget, opting instead to explore alternative revenue-raising measures.

With an expected tax hike still on the table, her primary focus will now be on increasing taxes on various sectors and services, including a proposed pay-per-mile charge for electric vehicles, which could raise billions of pounds each year.

Gambling firms have been lobbying hard to stop increased taxation, while economists believe extending the freeze on income tax thresholds could bring in an additional £7.5 billion annually.

A more contentious measure could be doubling council tax rates for properties in the top two bands, expected to raise a further £4 billion per annum.

Meanwhile, reforms to capital gains tax are also being considered, with some experts advocating for levying a "settling up tax" when high net worth individuals leave the country.

Overall, these measures offer potential avenues for boosting government revenue and repairing public finances, which have been under pressure due to years of austerity.
 
just saw that rachel reeves is ditching the income tax hike 🤔📈 i'm kinda surprised, but you gotta give her props for trying new things 😊 now we're gonna see what other revenue streams they can tap into... a pay-per-mile charge on electric vehicles? genius or just another way to screw over EV owners? 🚗💸 gotta be interested in seeing how that one plays out! 📊
 
omg i just got my council tax bill in the mail like last month already they're gonna raise it again 🙄 anyway so this news about rachel reeves is kinda cool imo i mean who doesn't love a good tax hike right lol but seriously its all about finding new ways to make that sweet sweet government money 💸 i heard the pay-per-mile charge for electric vehicles is actually pretty popular among car owners they just dont wanna feel guilty driving around in their fancy cars all day 🚗💨 council tax rates are like ugh dont even get me started my parents cant afford it anymore we had to downsize from a 3 bed house to a tiny flat its so sad 💔
 
Ugh, I'm so over the UK's budget changes 🙄... They're just gonna stick with not raising income tax and instead try to squeeze more cash from other sectors? Like, what's the point of that? It's all just a bunch of Band-Aid solutions for problems they should've addressed years ago. And now they're talking about increasing council taxes? Are we living in some kind of parallel universe where people can just afford to pay more for their homes without it breaking them? Not buying it 💸... Those gambling firms have got the government right where they want them, lobbying and whatnot. Can't they just make up their minds already? 🤯 And what's with the electric vehicle pay-per-mile charge? Like, who comes up with this stuff? 🚗💨
 
the gov's decision not to hike income tax rates is kinda interesting... i mean, it shows they're thinking outside the box, you know? instead of just going straight for more taxes on low earners, they're looking at other sectors and services that might be willing to cough up some extra cash. but, gotta wonder, are they really gonna find ways to fill the gap or is this all just a bunch of lip service? 🤔 the pay-per-mile charge for electric vehicles could be a game changer, but what about the environmental impact? and don't even get me started on council tax rates... doubling them in the top two bands? that's some harsh talk. 💸 anyway, it'll be interesting to see how all these measures play out in the coming months 📊
 
🤑 The UK's gamble on not increasing income tax is a weird move considering they're gonna hit us where it hurts - council tax & electric vehicle fees 💸💨
 
So Rachel Reeves just snuck out of that tax hike, huh? Like she was all "I've got a better idea" 🤔. Meanwhile, those poor electric vehicle owners are gonna be shelling out big time for every mile they drive... because who doesn't love a good pay-per-mile charge? 💸 And don't even get me started on the council tax hikes - I'm pretty sure my rent is already way too high as it is 🤯. On the bright side, if they do decide to go through with that "settling up tax" thing, maybe those high net worth individuals will finally feel guilty about leaving the country and taking their wealth with them... or maybe not, because let's be real, we all know how that works 😒.
 
Just read that Rachel Reeves is ditching the income tax hike 🙅‍♂️. Guess that's good news for people who are struggling with their paychecks 💸. Now they're looking at other ways to raise revenue, like charging per mile for electric vehicles 🚗💨. That sounds pretty annoying if you ask me, but I guess it could bring in a lot of cash 💸. Anyone else think that's an unfair way to tax people who are just trying to do their part for the environment? 🤔
 
🤔 I'm surprised they didn't go with the income tax hike route, you'd think it's a no-brainer. But hey, gotta give 'em credit for exploring other options, right? 😊 The pay-per-mile charge on electric vehicles is an interesting move, might actually get some people thinking twice about their driving habits. 👍 As for doubling council tax rates, I can see how that'd be unpopular with some folks... it's not exactly a popular topic when it comes to taxes. 💸 On the other hand, levying a settling up tax on high net worth individuals leaving the country? That's a bold move! Might stir up some debate about residency and all that jazz. 🤝
 
just great, they're gonna mess with our electric car future 🚗💸 like that pay-per-mile charge is a no-go 😒 all because of the gambling firms lobbying hard? come on! those greedy companies need to pay their fair share too 💸👊 and yeah, extending the income tax freeze could bring in some serious cash 💸£7.5 billion annually, can't go wrong with that 🤑 council tax rates doubling for high-end properties? like, what's the point of even having a luxury market if you're just gonna take more from people who can afford it 😒 and those capital gains tax reforms? levying a "settling up tax" when rich people leave the country? genius idea 💡
 
Just read that Rachel Reeves ditched the income tax hike 🤔... I think it's a good move, tbh. The economy has been struggling lately & we need some breathing room. Instead of hitting hard on ordinary people's pockets, they're looking at alternative revenue sources like pay-per-mile for electric vehicles 💸. That could be a game-changer for the environment too! Also, increasing council tax rates might not sound nice, but it'll definitely bring in some much-needed cash 🏠. I'm all for exploring different solutions that won't hurt the general public. Fingers crossed these measures pan out & we can start rebuilding our public finances 💪
 
I'm kinda hyped about this news 😊. I mean, it's not like they're gonna cut essential services or anything. The Chancellor's being smart by exploring different options instead of just raising income tax rates all over the place. The pay-per-mile charge for electric vehicles could be a game-changer, especially if more people start switching to eco-friendly transport 💚.

I'm also loving the idea of doubling council tax rates for top bands – it's only fair that those who can afford it contribute a bit more to the system 🏠. And let's be real, if high net worth individuals are just gonna settle up and leave the country anyway, why not hit them with an extra tax? It's all about finding ways to balance the books and get public finances back on track 💸.

I guess it's always good to see some debate happening in Parliament – gotta keep 'em on their toes 😉. Fingers crossed these measures bring in some decent revenue and help fix those dodgy public finances 🤞.
 
I wonder if this is just a Band-Aid on a bigger wound 🤔. I mean, think about it, we're still talking about austerity measures 10 years later... what's changed? Is it really that hard to redistribute wealth and tax the rich to pay off debts? It feels like we're just patching up the same old problems instead of confronting the root issues. And those alternative revenue streams they're exploring, are they even going to be enough to make a dent in the deficit? I'm skeptical...
 
Just got the news about the UK's budget 🤑. So, it seems like Rachel Reeves is trying to find new ways to raise some cash instead of going for a higher income tax rate 🤔. I mean, you've got those big gaming companies lobbying against increased taxes and then you've also got experts saying that extending the freeze on income tax thresholds could bring in an extra £7.5 billion per year 💸. It's interesting to see how they're planning to make up for lost revenue.

One thing that does seem a bit harsh is doubling council tax rates for properties in the top two bands 🏠. I know it's not going to help people who are already struggling, but at the same time, you can't deny that it could bring in some serious cash 💸. And then there's the pay-per-mile charge for electric vehicles...some people might be a bit miffed about that one 😒.

I think the key is to find a balance between raising revenue and not hitting people too hard with tax hikes 🤝. Fingers crossed they get it right this time! 👍
 
just saw this thread about the budget and i gotta say, its pretty interesting that they're exploring alternative revenue-raising measures instead of just raising income tax rates 🤑. i mean, doubling council tax rates for top two bands would be a big hit to people's wallets, but at least its not going straight up in their pay packets 😬. pay-per-mile charge for electric vehicles is a good point though - it could raise some serious cash without affecting low-income households too much 💸. and the idea of a "settling up tax" for high net worth individuals leaving the country is actually kinda genius 🤔. just hope its not as complicated to implement as people think it will be 😅
 
🤔 gotta say, gonna be interesting to see how this plays out. Think it's a good move not to increase income tax, might just spark some economic growth 🚀. Those pay-per-mile charges for electric vehicles though... seems like a bit of a stretch ⚠️. Don't know if I'd want to hand over more cash just to charge my EV to drive around 🚗. Anyway, £7.5 billion is no joke 💸, so fingers crossed these alternative revenue streams work out 👍
 
🤑💸 I'm kinda surprised Rachel Reeves ditched the income tax hike but at the same time not entirely shocked tbh 🤔. I mean, she's got a lot on her plate with these alternative revenue streams and the whole public finances situation is a mess ⚠️. But increasing taxes on sectors like EVs or doubling council tax rates? That's just gonna hit low-income households way harder 💸. And what about all those high net worth individuals who are gonna be affected by that "settling up tax"? It's all very interesting, but I'm not sure how these measures are gonna play out 🤷‍♂️. One thing's for sure tho: it's gonna be a bumpy ride 😬.
 
I'm literally fuming about this decision 🤯. Like, what's going on with our politicians? We're still stuck in a rut, and they just can't seem to figure out how to get us back on track financially 💸. I mean, income tax rates haven't been increased since 1975, for crying out loud! That's, like, ancient history 😂.

And now, we're expecting them to just magically come up with a bunch of alternative revenue streams? It sounds like they're playing some sort of financial roulette 🎲. I'm all for exploring new ideas and stuff, but this feels so rushed and unthoughtful 🤔. What about the people who are already struggling to make ends meet? Don't we deserve some relief from this austerity nonsense?

And don't even get me started on those proposed council tax hikes 📈. Doubling rates for properties in the top two bands? That's just plain unfair, especially considering how hard it is for ordinary folk to keep up with rent and mortgage payments already 💔.

I guess we'll just have to wait and see what the final budget looks like, but I'm not exactly optimistic about our chances of seeing any real change soon 🤞.
 
🤔 So I'm thinking about this budget announcement from Rachel Reeves and it's kinda interesting that they're not going ahead with raising income tax rates like they said they would be last year... instead they're looking at other ways to get more cash in, like increasing taxes on electric vehicles 🚗💸. I mean, it's not surprising that the gambling industry is trying to block that one - who doesn't love a good gamble, right? 😂 But seriously, economists are saying it could bring in an extra £7.5 billion per year if they just stick with the status quo on income tax thresholds. And council tax rates for properties in the top two bands are also up for grabs, which could raise another £4 billion annually... that's some serious cash 💸💰. The thing is, people who have a lot of money and assets might not be too keen on paying more taxes when they leave the country - so there's this idea of a "settling up tax" that's being floated around, which I think could be a bit of a contentious issue 🤝.
 
Ugh, can't believe they're still not tackling the real issue here 🤦‍♂️... the forum! I mean, have you guys seen the latest update? "Thread limit increased from 500 to 1000"... yeah right, like that's gonna make a difference. Still gonna take me forever to type out my thoughts 😒.

But anyway, back to this budget news... think it's pretty reasonable of Rachel Reeves to explore alternative revenue-raising measures instead of just slapping up income tax rates again 🤝. Those pay-per-mile charges for electric vehicles could be a game-changer... and I'm all for cracking down on those dodgy gamblers 💸.

Council tax reform is also a good move, especially since it'll hit the big players hardest 🤑. And let's not forget about that settling up tax - a nice little windfall for the government 👍. Still, can't help but wonder what they're gonna do with all that cash... and why they still can't fix this forum's UI 😤
 
You must log in or register to reply here.
Back
Top