There you go, it’s all working, the take from the taxes that no ‘working people’ have to pay has both ‘jumped and ‘rocketed’. It’s not just Inheritance Tax as, no surprise, Capital Gains tax payments are up around 70%. Not surprising, as the allowance has reduced by a whacking 75% in the past couple of years and investments have gone up – quite a lot. They went up still more last year, so next Jan should bring a further bonanza – and then pensions will become IHT-able in 2027. What a time to be alive – or to die. However, some context. Even this year’s combined bumper receipts will only fund around 12% of the annual cost of the NHS , let alone the extra needed to give us a decent care system and to keep Putin at bay. In the scheme of things, a lot of tiddling for not much gain.
Budget Rumours and Possibilities
The Budget Rumour Machine is not the shambles it was last year. Before Rachel’s Swansong all sorts of stuff was leaked to see what sort of puddle it would create.
