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The next six years will be a real problem. When costs go up with inflation and then salaries go up with inflation (likely not as much), more of that increased income will be taxed, which means like for like, people will have earn more but pay more tax so have less money and things will cost more. Rents will also go up as tax on rental income will not come out of the landlord’s pocket. It’s not just the people who own houses love £2m that will suffer ( and £7k is less likely to be an impact than higher tax and rent for someone on minimum wage wage -
They might not be related. Could your itchy forehead just be from the cold and central heating? -
Historically we don’t pay that much tax compared to comparative countries and current levels aren’t that high https://obr.uk/box/the-uks-tax-burden-in-historical-and-international-context/ and where does the 2031 number come from? Every person complaining about a small amount of tax on homes above £2million is the direct enemy of every voter/government/plan to build affordable housing if any government were to actually build sufficient housing, there wouldn’t be many £2 million houses left and that’s a good thing you can’t have your house value be your pension AND have affordable housing - you have to choose one -
Thread is about our local MP, apologies, should have explained more
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