1 yr. ago • 96%

Rishi Sunak considers tax cut for top earners after byelection defeats

www.theguardian.com Rishi Sunak considers tax cut for top earners after byelection defeats

Tories may also reduce stamp duty in bid to win back voters and reduce pressure on PM, reports say

41 comments

Wait, wait, wait... The average middle-class voter who is struggling to get by is starting to turn away from the Tories and their leader's suggestion is to reduce taxes on the wealthiest people? Not to improve services or perhaps address the issues that drove former conservative party voters to Labour. No. Cutting the taxes of the elite, further reducing funding for services that the majority of voters use or rely on is the obvious answer.

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- Smash&Grab tactics with... do I smell a hint of Scorched Earth in the mix there?
  
  31
  
  Person 1: Smash n Grab with a side of Scorched Earth?
  
  Person 2: Sounds like a recipe for destruction.
  
  Person 1: but the heat would be so intense
  
  Person 2: (Whispers) I'm a fire starter.
  
  Person 1: (Laughs) I know.
  
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- The Tories are out of touch. Middle class only exists on paper anymore, and the Tories' answer is to cut taxes for the rich?
  
  10
- He wants to increase the threshold of where you start paying 40%. The title of this article makes it sound like it's 45% but it's not. Currently this threshold is at about £50k. So this would make the biggest difference to exactly the middle classes.
  
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- It's probably more to stave off a rebellion from Tory MPs and to keep donations flowing, not as an electoral strategy.
  
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- I am not from the UK do allow me a question: From what yearly income on, do you guys have to pay the „top tax“ and how high is it at the moment?
  
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  £125,140 a year you pay 45% income tax. But it's not quite that simple because you don't pay 45% on everything, just whatever is earned above that and the other thresholds https://www.gov.uk/income-tax-rates
  
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Do the UK old people have lead in their brains too? Stop voting for Tory shitbags.

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- We don't need lead to hate foreigners, it's our God-given right as rulers of the Empire!
  
  Uh.. I mean.. "we value our traditions" or something..
  
  8
- Yes
  
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Blah blah blah

Rats know they're losing so they want to give farewell gifts to their cronies before leaving and punish the poors for not voting Tory.

Also helps to harm economy and national redources as much as possible so that the next administration fails to do anything and Tories can return in a further election cycle.

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How do you look at an election defeat and think: "That's what we need. More of exactly the same."

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- Easy conclusion to reach when you weren't there to help common people in the first place
  
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Tax cuts for votes. They're not even trying to hide it anymore.

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When tf is there supposed to be another election in the UK? It almost feels like a strategy from the Tories to continually have their PMs resign so they stay in power. It would be nice for the UK to have some sanity again

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- The last election was in 2019, so the next one must be no later than 2024.
  
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  Jan 2025 is the latest they can hold it, if I remember correctly.
  
  Though it would be beneficial to evict Starmer from the red Seat before that happens too.
  
  1
- January 1st 2025 assuming they don't call an earlier election.
  
  Waiting until January would be a mistake though because it would mean that your campaigning over Christmas which is a terrible time to be doing campaigning. Everyone's busy with other things and no one wants to be thinking about politics.
  
  3
- There's 5 years between elections unless the ruling party calls one early so a pm resigning doesn't help but calling an election early and winning does. We're still on the clock from Johnson's 2019 landslide win - which he called 3 years early because they were way ahead in the polls. Truss and Sunak didn't call early elections because they already had a big majority and would probably lose seats.
  
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Maybe one day I will be making lots of money and will want to pay less tax. I better start voting tory... Is that how they think people think? Or even worse, are there people who really think like that?

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- I mean, that's the US GOP in a nutshell, that whole "temporarily embarrassed ~~millionaires~~ billionaires" bit.
  
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  I ~~hate~~ love that you had to strike through "millionaires"...
  
  1
- It works on enough people, unfortunately.
  
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What a ghoul.

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Because this way, the Tories will definitely take the struggling middle class on their side during the next elections.

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- They might. 50k threshold is not really all that high.
  
  1
60% of the time it works every time

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Figured it was The Onion for sure...

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This is the best summary I could come up with:

Rishi Sunak is considering a tax cut for the 5 million highest earners and reducing stamp duty in an attempt to ease the pressure on his leadership after two historic byelection defeats, it has been reported.

The Conservatives may raise the 40% income tax threshold after Labour’s victory in Mid Bedfordshire, Nadine Dorries’ former seat.

The Daily Telegraph reported that surveys have been carried out by Downing Street to ascertain which tax reduction could give the party the biggest political pre-election boost with the 2024 spring budget considered the earliest it could be announced.

The Conservatives are also planning to reduce stamp duty for their general election manifesto next year if the economy has strengthened, the Times reported.

A senior Tory told the Times that reducing stamp duty would be “aspirational” and improve the economy in addition to attracting middle-class voters who had left the party.

Official figures showed that public sector net borrowing was £14.3bn last month, lower than the £20.5bn that had been forecast by the Office for Budget Responsibility.

The original article contains 304 words, the summary contains 172 words. Saved 43%. I'm a bot and I'm open source!

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