the priorities for the government should be 1) reduce the current spending deficit, 2) do what is necessary to get interest rates down in the bond market and for interbank lending and 3) pay off the bill from the banking crisis.
2 = 1 + 3
the priorities for the government should be 1) reduce the current spending deficit, 2) do what is necessary to get interest rates down in the bond market and for interbank lending and 3) pay off the bill from the banking crisis.
.. and keep unions on board (very difficult).
I don't necessarily agree, or at least I don't think it's a 50/50 split. If we can get the current spending under control we will look better to the bond markets and 3 gets easier. It’s the total cost over the period of the loan/bond that counts not it’s face value.2 = 1 + 3
Higher taxes..
Low income earners will be brought into the tax net..
Removing the PAYE Credit would accomplish both of these with little or no administrative overhead or increase in cost of collection.
Can this be put to bed for once and for all? As far as I am aware there is no such thing as tax relief for pension contributions - it's deferred income.4. Reducing the tax relief on pension contribution to 20%. This would reduce the net pay of PS workers on the higher tax rate. If the government also applied this to the pension levy it would surely yield a significant saving.
Is that not what I listed in Post#3! They will go for the quick and easy options, giving time to implement the messy ones.
Can this be put to bed for once and for all? As far as I am aware there is no such thing as tax relief for pension contributions - it's deferred income.
So I'll pay tax on income I don't receive and then 30 years later I'll pay tax on it again? No thanks. I'll give you one guess what'll happen to my pension contributions if that comes into effect.Well whatever it is, it is certainly on the government's agenda to reduce relief at the top rate.
Can this be put to bed for once and for all? As far as I am aware there is no such thing as tax relief for pension contributions - it's deferred income.
Exactly. It would also be very hard, if not next to impossible to administer. They can't take the same tax from you twice. I think this idea came from some green/lefty politician who does not have a clue on how the tax system works.