Could Labour break promises with rumoured tax hikes? £20bn black hole explained | Caroline Wheeler
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- Опубліковано 18 жов 2024
- On Monday Rachel Reeves will release a “blame document” to reveal “the true scale” of Tory “damage to public finances": a rumoured £20bn black hole. The Times's Caroline Wheeler asks whether the announcement will serve as “cover” to introduce tax hikes.
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Stop taking money from poor people in this country to give to rich people in poor countries.
We don't do that
They are going to do the opposite my friend.
LOL! We have just had 14 years of the Tory government taking money from the working classes and giving tax breaks to the wealthiest individuals and corporations. Time that was reversed by taxing the rich and reducing taxes for the rest of us.
Stop taking money from poor people in this country and giving it to rich people in this country, some of whom own newspapers and get you to blame foreìgners, immigrants, anyone but them.
@@JZTechEngineering
Are you kidding? Foreign aid always ends up being mostly siphoned away by corrupt third world leaders. Everyone knows this!
Remember during the election that it was said many many times that Labour's plans didn't add up. How many times was Starmer asked about taxes? And we're how many weeks in?
They repeatedly stated that they would not increase income tax, national insurance, or VAT, and so far, they have kept their word. If they do decide to raise taxes, they will focus on increasing the taxes paid by the wealthiest members of society. At no point during the campaign did they say they wouldn't. You have nothing to complain about. There is one other thing that seems to be confusing you, Times reporters do not make government policy.
@@gio-oz8gftaxing the wealthy doesn’t work, Labour tried it in the past. Wealth moves abroad, including big business. They will raise taxes, they will raid pension funds, we will see a lot of working pensioners like Doctors and teachers throwing the towel in.
@@gio-oz8gf nope, they wouldn't go into specifics and would only give general answers.
If you genuinely think that taxing the 'rich' has any success long term for the economy, then more fool you.
Increasing their taxes, do you have any idea how much they are already taxed?
There are problems because of wastage and inefficiency in the likes of education, health, transport, but yet again people think that throwing more money at the problem is the solution.
The estimated level of benefit fraud 2022 to 2023 was £8.3bn.
HMRC figures for 2021 to 2022 showed a tax gap of almost 5%. Meaning that is what wasn't collected against what was due.
Want to find more money for budgets? Start looking at those areas rather than battering people that already pay.
@@gio-oz8gf "Rachel Reeves rules out surprise UK tax rises" Financial Times May 28 2024
@@SeanHendy yeah 45% is the maximum threshold for personal income tax known as the additional tax rate. during the 50s and 60s the tax rate on the ultra rich was 90%, coincidentally the 50s and 60s were the decades of the largest financial growth in the 20th century...so...
🇬🇧🇬🇧Milliband has just given £11.5 BILLION ( OF OURMONEY) to countries abroad to HELP THEM with renewables and climate change...whilst at the same time attacking the disabled on benefits
Yeah, vote Labour, we have far too much money🙃
They're politicians, of course they are going to break promises.
Now they r riding the same old car 😅
@@Reb00ST29 Yes, the naivety of people who voted Labour is astounding.
Labour voters will not mind paying more tax🙃
Labour break a promise.. no way, who could have seen that coming.
Sunak warned Labour will up £2000 tax! That's why I didn't vote for Labour but Tory!
Good choice, Einstein. The Tories were in power for a decade and a half until a few weeks ago. They caused this problem.
@@uws5604 It's the people who voted Brexit causing the problem.
@@Dan1418 But who crowdsourced a decision on a hugely complex matter? The Tories. Once again.
Labour, we want to help poor people. Labour in power, we will put tax up.
When will the uk people accept their government are just liars.
Who love taxes
They need our taxes ro keep the thousands more illegals they have let into our country.
Who do you think taxes actually go to
The well off will be taxed, deal with it.
@@ECECECECECNo.The well off will simply leave which will mean the poor will have to pay more.
And the idiots that voted for them believing every word they said just made everyone's life harder 😂😂😂
I’ll come back to this comment when Labour increase taxes on the wealthy and not average working people
@@stopthetories so have you heard every one taxes am going up even vat on education 🤣 Labour is a joke.
Why isn't lying to the electorate deemed a crime as it is the electorate lying to a judge or jury?
Because governing requires you to be able to change your opinions dn is highly dependent on the result of it and making a law like that would make any promise impossible
Hold the MPs accountable
Give them 12 month and they will be taxing the air you breath ..Khan already wants to tax peoples private driveways 😂😂😂😂
Of course Labour will take your money!! They start off by being nice and cuddly and then they change the rules - we’ve seen it all before, us older ones, but it sounds good . . .
They haven't even started to be nice and cuddly. From their policies it was obvious we were going to be sc...d
Who did you think was going to pay welfare to the world.
Labor getting ready to be out again in 4 years.
Up my taxes you lose my vote.
You actually voted for them?.....🤣😂🤣
Let’s hope they have a very short stay in power.
Government finances have been in public domain well before labour came in nothing new here and labour know it .
Remember this is what labour supporters wanted
Stop giving it to the Ukraine then
You voted labour in sow what you reap
TOP POST !!
It’s reap what you sow . . .
@@tonydelaney3536 whatever mate at least you understand where I’m coming from
Labour lieing to get more tax money to send Ukraine to help start a war 🤣 England is f*cked 😢
STARMERGEDDON! 👹
"Could Labour break promises....." Of course they "could". The question should be "Will Labour break promises". Of course they will. And who will Reeves blame in her speech on Monday? The Tories, of course. And that's despite the IFS and OBR pointing out, ad-nauseum that Labour, in opposition and during the campaign, had free and easy access to the nations books - as indeed do I. Labour were clever in the campaign by stating that all of their manifesto pledges were fully costed, without ever producing the costings. I know they didn't produce the costings because I asked for them. Why are ministers now spouting lies? In addition to Reeves lying that she was shocked at the state of the finances we've had the Justice Secretary lying that she was shocked by the jails crisis, the Health Secretary lying that he was shocked by the NHS watchdogs performance and the Home Secretary lying that she was shocked by the cost of the Rwanda scheme. If they really are shocked then they are grossly incompetent and utterly unit for office. There is no excuse for them to be shocked. THE STATE OF THE NATIONS ACTIVITIES ARE AN OPEN BOOK. It is the responsibility of the Kings official opposition to be aware of the information and prepare to deal with its contents when in office. And not to enter office and lie through their collective teeth.
Very well said
Giving 84 million of tax pays money away is going to help fill the black hole
Pfft that's nothing - the Tories gave away at least 700 million to send four volunteers to Rwanda - oh and robbed at least 11 billion on PPE to mates that couldn't be used while partying, all during telling others they couldn't see their dying relatives
I have more examples that is merely two of them
Yes tax the rich until there pips squeak 👍🏻
"Everybody had seen that as a red flag....."
The irony is not lost on me.
Comrade Joseph Starmer won't let us down.
Unfortunately UK citizens are overwhelmingly taxed and common people back bone is broken by high taxes and more taxes. Look people are queuing at food banks. Highly skilled people are leaving and low wages salaries for decades. Profiteering culture of corporate by exploiting low wages must be stopped
Capital gains tax and inheritance tax will not affect the people using food banks you absolute weapon.
So why does the state need the cash?
@@adenwellsmith6908 yeah why state needs cash?? When they can print money any times and push inflation to make us poorer
@@knowledgeseeker5499 And the pension debts are inflation linked.
If you double prices you double the existing debt.
This was all know months ago, they knew the deficit when they said they plans were fully funded.
I Voted REFORM my family did tooo ... idiots voted Labour in ...
Be careful what you wish for!
You wanted Labour, now deal with it!!
You all wanted Labour you obviously like being lied to.
After being lied to by the Tories for 14 years, we've obviously grown accustomed to it.
all those turkey liebour voters christmas has come early
We know labor make excuses to put on tax last government bad is cover of tax ,all party is same after take over
They have frozen income tax thresholds so they are getting a massive increase in taxes every year anyway!??
Still got plenty of cash in the war chest.
Instead of penalising the people of the UK by raising taxes or cutting essential services and have our elderly suffer for whatever life they have got left. The first thing we should think about is to stop overseas aid, and stop giving illigal immigrants so much money before sending them back.
That why I voted REFORM UK
Genocide in Gaza? What? According to what definition?
Obviously people did not watch shows like peston where he asked repeatedly how are you going to fund this that and the other starmer never gave an answer that should be enough reason not to vote labour but they did in droves like sheep we will be in trouble as usual with a labour government
True but don’t forget we were already in trouble with Tories.
Like the Tories explained their tax schemes before dropping them on us. Better yet, claiming they lowerd taxes after raising them.
70% of votes weren’t for Labour.
You are right, but remember that the Tories got us here. Labour seems like the least worst option. Doesn't mean they're good but do you really want Sunak as your continuing leader...or worse still, Suella?
@@jaybee4288 I know but he blabbered on in parliament about how bad they were but with no clear plan or solution unless you have a firm solution don’t give the impression you can make everything rite when in reality they have no clue , how long will it be before they borrow their way out of it as labour always do
In the UK the job of the Governments official opposition is to scrutinise what the Government is doing. That is what they are paid to do. It does not sound like Labour were doing that if they did not know the problems. Just a thought.
Labour break Promises ... well , I did not see that coming .......
Labour only in power for 4 weeks? They brought it upon themselves by `hitting the ground running`, only they did not hit the ground they `hit the pensioners!` This was in their `foolish` rush to be seen to be busy and serious about their powers. If your `new in the office` you wait until your `feet are under the table` before taking momentous decisions.
To the surprise of absolutely nobody, except the sheep who voted them in.
So is there nothing that discharges them from duty if they break promises?
They didn't promise not to hike capital gains and inheritance tax.
@evawat2019 they haven't. They were explicit - no rises for the general public (paye, ni or vat)
Out of interest, why are you against taxing the wealthy more? Unless you're very wealthy yourself ofc, then I understand
They made pledges not promises, you don’t have to honour a pledge.
@@hardlines2635 time to introduce pledges into my life!
The subservients starting to realise
Thanks LBC
How about taxing the multi millionaire MPs who have stashed there money away. The conservatives are to blame for labours win
Should ask Dido Harding to get a refund from her unbelievably expensive consultants. You'd have some change left over...
Well they need to rise taxes to pay 7/8 million per day for the refugees sorry FREELOADERS
Don’t know if the Govt audit is a prelude to tax rises in the autumn but think it’s right that they set out the full picture before moving forward. Last Govt already blaming Lab for early release prisoner program even though they created the crisis & Alex Chalk said he’d been raising it for some time & had already released thousands without probation, support etc. Ditto, pay awards, Rwanda costs, Bibby S & hotel costs, HS2, maybe raac in public buildings etc., all apparently higher than Tory Govt had revealed. They left all the compensation payouts to new Govt too - inf blood, post office, waspi, Windrush etc. The last Govt were v slippery on finance & will now blame Lab for high public spending. We should know what to judge them on & the closing balance sheet on last Govt & its spending commitments. This should actually be standard practice on transfer of power between Govts.
How did they complete a full audit of the countries finances in two weeks?
There was no audit. The books were always available for all to see through the NAO. This is just politics to justify reneging on spending promises.
Of course, first thing labour do raise taxes and spend it, bankrupt the country last time.
Starmer doesn’t care if he gets recorded saying lies or contradictions! He literally couldn’t care less! More shame on those that voted his party Labour in …. Shame on you
NEVER!!!!!!!
Not my PM 😡
Oh higher taxes for the working people to keep the grifters coming for a free life.
I have voted both labour and conservative in my time and I am so angry at those people that voted for both parties because this whole discussion we’re watching it’s just a continuation of the same old status quo. Well done to those that can only vote based on their indoctrination. You are to blame for what has happened and what is coming. You have condoned the status quo rather than giving all of the major parties a bloody nose to say, no you have to up your game.
Starma is a lier what a tool
Illiterate gibberish!🙄
Now listen. Be polite. You are commenting in a public forum. Have some dignity. Spell-check your work, and don't use insulting language about a man who is more ambitious and far better-educated than you.
Tax is too cheap now. We take cash spend cash don’t pay tax 😂
My polling card went into the shredder, and I feel better for it.
Life in this country is like playing bingo on the titanic. It doesn't matter what you win, you will lose everything eventually.
WEF puppets one and all.
He's going to release the new arrivals give them benefit money free dental and NHS plus a house, 70, 000 of them... The County is collapsing.. Around us.!!!
Ayatollah Khan has already prepared London for conquest. Mr Burnham has been preparing Manchester for Islamic caliphication. Now is the time, Keir will bring Sharia to the U.K. and all you can do is cry online about it.
Welcome ISLAM
Gibberish!
@@humphreybradley3060 watch and learn. Europe are already taking measures to stop mass Islamic immigration because they know the problems that will come!
The Pensions Increase (Pension Scheme for Keir Starmer QC) Regulations 2013
And he's got a special tax loop hole. Just for him, paid for by us.
Yes it’s what they do, simple
.
Remember Cameron and Osborne putting VAT up from 15 to 20% in the first couple of weeks of his government that's the British people
17.5%. Labour increased it from 15 to 17.5 before torys came in.
@@danielwebb8402 The Tories increased it to 20%, what is your point?
@@gio-oz8gf that the original comment is incorrect
To fund politicians lavish lifestyle... they all need to be followed and monitored... Labour will go out of UK politics forever never come back in power if they make life difficult for the tax payers its saturation point now...
I'd like to see the contents of every MP's hard drive analysed, that's for sure.
Uk is collapsing fast
You're a couple of years too late.
Chances are even Reform would have raised taxes...but THEY pledged a 20k personal tax threshold. Give it these next 5 years of Labour people will be begging for a Reform government in 2029. Labour can easily do the same...but like the tories they just want families to suffer. They both know people are struggling yet both are more than happy to watch society fall.
Like Reform would have a sniff what to do.
The only way they could get away with it would be one or more of these three options:
1. Apply an import tax on goods made in any country with inferior labour & environmental protections to the UK.
2. A tax on moving money out of the country - hitting multinationals and billionaires.
3. A wealth tax on combined worldwide assets in excess of £5M.
4. Cut overseas aid to ZERO.
They will do none of these. They will simply hit middle England with tax increases and got after pensions also
@@markblance8492 Yup. I reckon there should be a "voluntary" tax you can add to your payroll, and lefties encouraged to show they are truly socialist by voluntarily paying it. Then we'll see who really IS a leftie and wants to fund useless eaters sat at home on benefits, rather than just wanting to steal from those who work hard.
Buy gold what next your savings
They knew what they were taking on but ignored question when asked how were they going to fun what they said in their manifesto but constantly wound not answer.
So get on with what you said in your manifesto and STOP saying it's worse than you thought you had the figures as the opposition does receive from the sitting government.
Get on with doing you job what you put in YOUR MANIFESTO
We all knew this, it’s not news. Labour raise taxes' it’s a fact of life. To be fair, the richest ( homes worth >£1m) should be paying more.
YES
The concept of contract law presents an intriguing scenario that seems to have been overlooked: Keir Starmer made a verbal commitment to his voters that he would not raise taxes and would address illegal immigration. While written contracts provide a documented record of these elements, verbal agreements can also fulfil the criteria and therefore be considered legally binding. Acceptance of an offer may be evidenced through words, actions, or conduct. The mere presence of acceptance suggests there was an offer to begin with. By increasing taxes and not addressing illegal immigration, he is in breach of the contract he made with his voters, which could make him liable in a court of law for breach of contract. However, before you argue that he cannot be sued because he is the government, it's important to note that the contract was agreed upon before he became Prime Minister.
Riots
No could about it, guaranteed certainly
Vote lib dems next time
Could 🤣🤣🤣🤣🤣
Taxes are good; they pay for not having a broken health/road/education/justice/benefit/everything system, and after 14 years of criminal mismanagement they're going to be needed. The trick is to tax people who can afford it, ie. the rich and corporations.
Then they move abroad, look at Dyson. Even the truck companies like Stobbart registered truck in Portugal so they pay less tax.
@@hardlines2635 Then you shape the tax laws and international agreements to prevent things like that. Plus the idea the rich will up sticks and leave is an idea largely pushed by the rich and isn't borne out by evidence. Just because it takes work to keep them honest doesn't mean we should throw up our hands and let the rich keep robbing us blind.
I'm happy for taxes to go up. They are good. Oh not to go up for me though. Obviously.
Tax corporations more and they simple move their profit centres, so the government get less taxation. Tax the very rich hard and the simply move their money abroad or move, so the government get less taxation. So neither of those are going to work.
Here’s a novel idea, don’t hand out 5.5% pay increases, half gold plated public sector DB pensions, reduce foreign aid, freeze MP pay and recover debt from France.
@@markblance8492 Wealth flight is largely a myth. Rich people like to live where they already are, where they know the culture and the people and schools and such, just like everyone else, except easier because they're rich. And moving businesses around is between hard and impossible depending on the business, so not something they do except as a last resort.
Derrrrr
Sigh... capital gains and inheritance tax is predominantly going to hit the top 10%, not the 'general public'. They also never said they wouldn't hike capital gains, corporation or inheritance tax. They said they wouldn't hike VAT, PAYE or NI.
Bad journalism from TR.
They also would never answer a direct question about tax honestly would they? Starmer's plans never added up and everyone knew it.
Exactly 👍🏻
It will hit everyone don’t be fooled
@@SeanHendyyea’ should have been straight and not get elected, better off with the last lot, live in la la land🥸
They did say no new taxes liars Labour are Labour Party lie
I would like to point out that you are not obligated to pay any tax the government hand out so just remember that before you pay your taxes
I'll just notify HMRC and look forward to my next PAYE rolling in, because paying taxes is clearly theft, and not paying for services, roads or critical infrastructure that we rely on, yes I agree.
Pipe down in there, Roj, or you'll be put back in seg.
in all the history i have learnt the king puts u tax and this alll started when prince charles became the king
Charles and Andrew need tax money to pay fixers like Epstein. They need kids at the palace.
Correlation does not mean causation, a perfect example of how a little knowledge, really is dangerous.
😂😂😂😂😂Could 😂😂😂😂😂😂😂😂
Liebour 🤥
If the government wants more tax revenue make businesses pay proper wages instead of suppressing wages ?
Then they move abroad, Look at Dyson for an example. The government should be encouraging manufacturing to come back to this country. Also, it’s cheap foreign labour that keeps wages down, I recently had a polish guy write to my boss saying he would do my job for less pay. Thankfully the union got involved.
Our wages are going up quite well. 5-6% as said in the video.
Having to as competing for employees as unemployment still low.
@@danielwebb8402 5/6 percent, when inflation it 16 percent, if this happens year in year out you get poorer like we have done for 40 years of suppressing wages and services, and pensioners are still 5 percent behind when they should have got 8 percent a few years ago they got 3 percent ,
@@hardlines2635 business needs to be fair NOT greedy Bxxxxxxs
@@RoyRushforth
Good job inflation is about 2% then.
Tax the ultrawealthy, not the average person.
@@14dollars that's exactly what is being proposed. High rate capital gains and inheritance tax
25% of Nom Dom's are leaving. When they said 2%would leave..
Just tax the wealth. There's 160ish billionaires in UK. It's a no brainer.
And of course they just won't take their assets a f off to some where that doesn't have the politics of envy 😅
How much of other people's money would sate you?
@@danielwebb8402 sorry I don't understand your question?
@@barrywells4129 lol
You made a mistake in the title to this video: You put the word "Could" at the start
Break the economy, expect the new government to notice. How long did the tories blame Labour for the economic inheritance when they (gained) power in 2010? I still heard people blaming Labour a decade (yes 10 years later). That would equate to Labour MP's still complaining in 2034. Structurally the economy is far weaker today than it was in 2010, so while they may complain, I suspect the Labour party has more integrity and class, and hopefully will fix many of the numerous holes in the UK economy rather than childishly moan and blame others for tory failings.
@@hardlines2635 Er Blue, currently with some white blobs graduating to grey in places.
If it’s a rumour don’t report until it’s actual fact. Otherwise that’s pretty disingenuous and quite slandering when that could be wrong and you know it could be wrong, hence your disclaimer of Rumour in the title.
No tax on working people. Capital gains is income from other peoples work so they will be keeping to their pledge.
And you believe that, FFS I'm lost for words on Labour brainwashing.
if they do have to, then it is the tories fault
She or whatever it is look like labour
Who cares as long as things improve….?
They lied and it won’t improve anything liars labour always over soend
Improve, you're deluding yourself.
@@Hanking-Warry It's been a few weeks, you're deluding yourself if you think this mess can be solved in a snap. We already know what 14 years of Tory rule can do to a country, definitely never, EVER again.
They have too many vulnerable immigrants, needing everything they can get, running for their lives - from France.
Improvement cannot be built on broken promises and lies.
Well I hope so, it’s taxes that are going to make this Country great, I knew, and other sensible people new there would/ will have to be tax rises. Obviously he couldn’t tell the ordinary idiot in the street that.