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politicalbetting.com » Blog Archive » Hammond looks set to reward the young for turning out in such

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  • Sean_FSean_F Posts: 38,527
    rcs1000 said:

    +1
    For example, a very obvious IHT shelter is to shift assets into your business that aren't really needed for that business (there are anti-avoidance rules, but they're ineffectual).
  • BenpointerBenpointer Posts: 35,302
    HYUFD said:

    Social care and the NHS should be funded by social insurance as they are in much of Europe and in Japan not from taking yet more from already previously taxed assets of the deceased and removing the amount left for their family
    Isn't social insurance just another form of tax? On what basis would it be assessed and payed?
  • kle4kle4 Posts: 98,601
    Danny565 said:

    Two Catalan leaders in Spanish custody
    Spanish judge orders detention of two Catalan pro-independence leaders accused of sedition

    http://www.bbc.co.uk/news/world-europe-41646142

    Seems like an odd move to do now when the government has given the Catalan authorities a few more days to clarify their response. Charges for various people were presumably inevitable given what happened with the previous unofficial poll, which was not escalated anywhere near as much, but I guess the detention of these two is part of the pressurising ahead of the new Thursday deadline?
  • HYUFDHYUFD Posts: 127,138

    Government income is fungible, not ring-fenced.
    At the moment, does not mean NI cannot be ring-fenced in future
  • Sean_FSean_F Posts: 38,527
    tpfkar said:

    On topic I think I've confessed before to voting Conservative in my mis-spent youth, and until this year I'd always have second preferences them. But I realised in the GE campaign that I'd have demoted them behind Labour even thinking the same about Corbyn as most Tories. It's the tone-deafness over Brexit first and foremost that means there's a generation who won't even LG I've the Tories a hearing at the moment. While it's important to deal with the intergenerational issues (and as the thread implies it's not about sweeties for the young, but the baby boomers paying their way) their highest priority should be finding a way to talk about Brexit to keep the young on board.

    If it was up to me I'd be organising regular Brexit focus groups with 18-30s and would suggest things like a big apology speech from the PM for 'citizens of nowhere' (utterly devastating) public recognition of the desire to explore he world for a generation who don't know what it is not to be connected,,and policy movement on joining schemes like Erasmus. Not enough for me, but they can't gain from some good ideas on this thread without this kind of shift.

    Yet, I think people become more deeply attached to the place they live in, as they get older, so support for Brexit rose sharply among people from their thirties and upwards.
  • BenpointerBenpointer Posts: 35,302
    HYUFD said:

    At the moment, does not mean NI cannot be ring-fenced in future
    But there's no reason not roll it into income tax now. If we start having ring-fenced taxes we'd be paying a defence tax, a health tax, a security tax, an education tax (ooh - can be exempt from that one as I've got no children?) etc. etc. It would be a nonsense.
  • ydoethurydoethur Posts: 73,575

    That is a remarkable poll, HYUFD. The more so since most voters are never likely to be lucky enough to be affected by inheritance tax.
    A nice way of putting it!

    However, I think it's very much a regional thing too. Round here very few estates would be affected by it - perhaps a handful of homeowners in New Penkridge Road. But in the South East, it's a hot button topic. Maybe that makes more people feel strongly about it than say, fuel duty and that skews the results?

    I'm also guessing that YouGov panellists are likely to be the wealthier end - which may also explain the high ratings for stamp duty and air passenger duty.

    Interestingly though it does affect an increasing proportion of estates:

    https://www.ft.com/content/bb99b10c-b460-11e5-8358-9a82b43f6b2f
  • Sean_FSean_F Posts: 38,527

    That is a remarkable poll, HYUFD. The more so since most voters are never likely to be lucky enough to be affected by inheritance tax.
    Certainly, since Alistair Darling's tax change doubled the amount married couples can leave.

  • Y0kelY0kel Posts: 2,307
    Some kind of multiple stabbing incident at Parsons Green
  • HYUFDHYUFD Posts: 127,138
    Sean_F said:

    Certainly, since Alistair Darling's tax change doubled the amount married couples can leave.

    I think you mean Osborne's tax change
  • HYUFDHYUFD Posts: 127,138
    edited October 2017

    That is a remarkable poll, HYUFD. The more so since most voters are never likely to be lucky enough to be affected by inheritance tax.
    Though an increasing number have been due to rising house prices, hence Osborne's IHT cut was so popular and the dementia tax so unpopular. Stamp duty is the second most unpopular so that should also be a target for a cut which would help young buyers
  • HYUFDHYUFD Posts: 127,138
    edited October 2017

    Isn't social insurance just another form of tax? On what basis would it be assessed and payed?
    Essentially but it still has the word 'insurance' so sounds a fairer way of paying for care
  • Sean_FSean_F Posts: 38,527
    HYUFD said:

    Though an increasing number have been due to rising house prices, hence Osborne's IHT cut was so popular and the dementia tax so unpopular. Stamp duty is the second most unpopular so that should also be a target for a cut which would help young buyers
    Stamp Duty is more difficult, as it does generate immense revenues, is easy to collect, and is a good way of extracting money from the rich.
  • Y0kel said:

    Some kind of multiple stabbing incident at Parsons Green

    Police saying not terrorist related. So guess gang violence, that or another pissed off Uber driver.
  • HYUFDHYUFD Posts: 127,138

    But there's no reason not roll it into income tax now. If we start having ring-fenced taxes we'd be paying a defence tax, a health tax, a security tax, an education tax (ooh - can be exempt from that one as I've got no children?) etc. etc. It would be a nonsense.
    Not totally as NI was originally intended to insure yourself against unemployment, sickness, age etc not to pay for others education or the defence of the realm etc which income tax would largely pay for
  • HYUFDHYUFD Posts: 127,138
    Sean_F said:

    Stamp Duty is more difficult, as it does generate immense revenues, is easy to collect, and is a good way of extracting money from the rich.
    I am not saying abandon it but cut it for cheaper properties which are more likely to be bought by first time buyers
  • BenpointerBenpointer Posts: 35,302
    HYUFD said:

    Essentially but it still has the word 'insurance' so sounds a fairer way of paying for care
    Fine, let's abolish IHT, replace it with a charge on estates and call it 'social insurance' :smile:
  • NigelbNigelb Posts: 76,813
    ydoethur said:

    Every time you think Mariano Rajoy has reached rock bottom, he gets out those jackhammers and goes lower.

    Is there any evidence that he's actually a fifth columnist for Catalan and Basque separatists? He's starting to look more and more like Mrs Iseling in The Manchurian Candidate.
    The legal history of sedition in not a glorious one...
  • ydoethurydoethur Posts: 73,575
    edited October 2017
    Nigelb said:

    The legal history of sedition in not a glorious one...
    Treason doth never prosper - why, what's the reason?
    If it doth prosper, none dare call it treason!

    (Amusing practical example: Washington and Lee were both slaveholders, both traitors and both Virginians. But only one of them is having statues pulled down!)
  • HYUFDHYUFD Posts: 127,138

    Fine, let's abolish IHT, replace it with a charge on estates and call it 'social insurance' :smile:
    You cannot define confiscation of already taxed property on death as an 'insurance' however you want to define it, that will always be a tax. At least with social insurance you are in theory regularly paying in from your wages to insure yourself for future need
  • FregglesFreggles Posts: 3,486

    Of course he does. I would like to be immensely wealthy and hung like a donkey but it is not going to happen.
    To be fair, there was a while when it was less than obvious whether the likes of Kier, Chuka, et al wanted a Labour government, so it's sort of newsworthy. That was when the Tories were seen as competent, though.
  • Sean_F said:

    Certainly, since Alistair Darling's tax change doubled the amount married couples can leave.

    I suppose it is because it hits at the aspiration people have of their children having a better life because of what they have done for them. Even when the actual thresholds mean they will most likely be unaffected there is the principle and the fear that a future government might change things so they are sucked into it.

    Attack an individual through tax and they might become resentful. Attack their children through tax and they will become angry.
  • PongPong Posts: 4,693

    Fine, let's abolish IHT, replace it with a charge on estates and call it 'social insurance' :smile:
    I don't think it'll be up McDonnell/Corbyn's street, but imo, a smart way to get the public to vote for IHT, is to offer "An inheritance for all" out of a ringfenced IHT pot.

    The key is to link IHT to a tangible, politically marketable, benefit.
  • NEW THREAD

  • HYUFDHYUFD Posts: 127,138
    Pong said:

    I don't think it'll be up McDonnell/Corbyn's street, but imo, a smart way to get the public to vote for IHT, is to offer "An inheritance for all" out of a ringfenced IHT pot.

    The key is to link IHT to a tangible, politically marketable, benefit.
    People are not going to vote for higher inheritance tax to pay for increased welfare
This discussion has been closed.