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Cost of Covid to government estimated at £400 billion Cost to the economy of leaving Europe estimated at £32 billion a year Cost to UK due to Russia invading Ukraine £100 Billion plus Some analyses suggest that by 2018/19, austerity had suppressed the economy by nearly £100 billion, equivalent to over £3,600 per household, and led to a 2% reduction in GDP by 2015. The long-term effects include a weaker economy, lower wages, and a failure to reduce the fiscal deficit as effectively as intended, partly because lower growth reduced tax revenues You can do the maths yourself -
£63,000 in 19698 is equivalent to nearly £1,400,000 today. Don't forget too that the way mortgages work, you pay almost the same amount in interest as you do for the property. So the actual cost to buy a £2m house over 25 years is closer to £4m. Buying a family home to live in wasn't a get rich quick scheme. -
@Cyclemonkey I get where you’re coming from, but I just don’t see this fixing anything.. It’ll just make whoever’s living there now a bit poorer, while the real issue gets ignored. In ED over the last 20 years, loads of pretty average terraces have gone up £500k–£1m without anyone doing anything. If we actually want to deal with unearned housing wealth, scrapping the CGT free pass on the main home would make a lot more sense (or at least cap it ...like in many countries) -
People pay a lot of tax. By 2031, this will be the highest tax paid ever. Coupled with the fact that the amount of debt we have and the amount we pay for that debt is also at an all time high, you can possibly understand why people are against paying more tax
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