So. Tax on earnings will go up 2.5% (whether the cash is handed over by employers or employees it is still a tax on earnings) and tax on dividends by 1.25% and tax on rents or interest income by 0%. The measures favour those who don't have to work for a living.
The tax taken from regular working people will be allocated in large part to protecting the inheritances of the children of wealthier families through the cap on the amount of your care costs you have to pay: almost the exact opposite of what we should be doing.
We're introducing a new tax which will drive up payroll costs for businesses and administration costs for Government. Our tax code is already almost as long as Encyclopaedia Britannica: there is no good reason to make things worse - but he is.
He has chosen to place the burden of funding social care not on those who had vast wealth before and have seen vast increases during the pandemic - through capital gains tax or inheritance tax or a wealth tax - but on people who earn over £9,568 per annum. Just contemptible.
These choices articulate who this Government is for - the staggeringly wealthy and their children - and who it is against - families struggling to get by on less than £10,000 per annum.
Compared with a tax on inheritance, or capital gains tax, or even income tax, the big winners include the vastly wealthy members of his own Government, people like Rishi Sunak and Jacob Rees-Mogg.
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