the fiscal drag brings in more tax for the treasury, that and the fact they are more bothered about Rwanda, EU courts, small boats, homeless in tents and imaginary tax cuts! in other words, red meat!
@@shaun906they also like spending public money and selling cheap government bonds to their mates. Which is probably the biggest scam of all and why they need to cut public spending on services and benefits as there’s more for them to skim off the top.
It's come to something when a member of the public (not just any member of the public admittedly) has to sit down a multi millionaire down and tell him where he is going wrong with our money. Arise Sir Martin Lewis for services to the British people and not 650 freeloaders.
@chrisbowser one rips people off,the other has two sit down a millionaire who rips the people off. 2 millionaires Hunt rips the poor off the other helps the poor
This is utter nonsense. The child benefit for one child is £1248 per year. Why does someone earning £60,000 a year even need it? And how can't you live off that? I live on a quarter of that and wouldn't beg the government to help me with my child. Come on now, take responsibility for yourself and your family.
Children are in freezing classrooms with acro’s holding up the roof. The syllabus is now so intensive that its created a secondary industry in tutors for those that can afford it, for those that cant the syllabus is failing them and the teachers delivering it. University campuses appear radicalised after importing American culture wars. Get a job and your hit by low wages, repayment on loans, unaffordable housing & rental housing stock in freezing conditions / mould / damp conditions. What has happened to social mobility? It’s become a means for wealth extraction on anyone with aspirations.
The problem is that some of those who went to Eton and Oxbridge and now in government seem to think only people from wealthy backgrounds are intelligent, and people from poorer backgrounds cannot possibly be super intelligent. But if you look back in history a very high proportion of people from ordinary backgrounds and outside the establishment made Britain great from Industry the Military through to civil engineering, whereas some of Britains wasters and traitors came from the upper class and establishment. So if we now restrict advanced education to people from poorer backgrounds then Britain will end up at the bottom end of the G20.
@@nicks4934 yes, the point here is that the personal tax free allowance has been frozen for many years despite inflation. So a pensioner who was not paying tax is now paying tax on income that buys no more in real terms than it did back when they paid no tax.
He said that there are many structural unfairnesses in the tax system? Damn, he should find out who's been in control of that tax system for 14 years and have a right go at them then
Britbongostan stirred backwards when Bliar came and sithen, we have lived within his Paradigm. Party matters not; only that we live in Bliars B-R-I-T-B-O-N-G-O-S-T-A-N
As a parent of children who have gone and want to go to university, the funding situation is completely broken and not fit for purpose. There is no way soneone can go to uni without sone sort of additional outside funding, which means either getting a job or getting funding from the family and these days more than ever, there is only so much 'spare' money going round, so university has once again become only possible for the wealthy, not because of tuition fees, but because of inadequate provision for living costs.
It doesn't help matters when there are too few jobs for university students to take part in!There is no structure or help full stop!! University is becoming an upper class system!
@@Cobra1-d8j University has always been an upper class system, who told you it was any different? The whole grant thing (that was pulled in the Blair/Brown era) was just a fad to make people believe that higher education was more accessible than it actually was. If you are getting into thousands of pounds of debt just to get a degree, you've already lost.
In the 90s university was free for working class. Then early 2000s it was £3k plus interest then from 2012 it went to £9k plus interest make it make sense. Even if you don't get a graduate level job, you pay it back for the rest of your life. University is a sham for working class, its a no brainer for Upper class because its basically networking with elites.
There should not be any threshold. All mothers should get child benefit irrespective of earnings. This is a ridiculous and punitive measure introduced by David Cameron and George Osborn making the tax system more complicated. Most tax is paid by higher rate tax payers.
Married couples with a family sturcture of one stay-at-home parent are affected by this also. In this current world the most financially benefical family structure is to never marry and mum or dad to declaring themselves as a single parent. The partner remains independant and unassociated financially. I would love to see changes in the tax systems that fostered and promoted the family rather than working against it financially.
@@doct0rnic0 the person earning the 60k would be the parent who is unconnected and not the parent claiming child benefit. The common arrangement that I see now days is a mother claiming to be a single parent yet having a partner. There is no benefit to being fancially connected. The mother could be working or claiming housing benefits etc. I've heard of arrangements where the father owns the house and rents it to their partner who is claiming employment and housing benefit. I've also heard of people independently being on housing benefit and claiming to be separated. Then living in one property together and renting out the other property themselves. I'm just saying that I would like to see more financial benefits to honesty, marriage and or declaring your family unit.
@@PluralRecursion The issue I see with what you want to see happen, is that it would become very expensive, with HMRC trying prove that a child has two people as parents and that they should be financially linked. Probably people who think about these things keep their name off of the birth certificate. Even as Martin was outlining the problem, I was thinking about how people would side step any new rules and how expensive it would be to enforce them. Easier just to up the threshold.
@@PluralRecursion "the person earning the 60k would be the parent who is unconnected and not the parent claiming child benefit." - ok... but that's not really how life works, is it? It can't be decided in advance who's going to earn what really (I mean, in broad strokes, maybe). "I've heard of arrangements where the father owns the house and rents it to their partner who is claiming employment and housing benefit." - well that just sounds like fraud...as are the rest of the examples. I don't think marriage needs to be encouraged financially. What I would say is that there's benefit to having universal benefits and not having them means tested, because 1. you don't have to waste administrative funds doing the means-testing 2. It doesn't stigmatise benefits 3. It doesn't create a culture of dishonesty, but rather one of social cohesion.
We shouldn't look at individuals for tax or benefits. It should be household. As example household of 2 people earning 40k should have same take home pay as household of one where one person earning 20k and other 60k. Many countries do this and it fair, it also promotes a family unit (something this country currently has issues with.)
100%. Martin is so right in pointing out the unfairness of the tax system for families. Every other country does some amount of re-balancing when a couple has children so these kinds of anomalies don’t happen. Only in the UK do families with joint children get treated the same as a single adult, leading to a huge squeeze on both single parents and couples with children.
Not so. Because unlike Gary Lineker and Carole Vorderman. Martin Lewis is: In touch with and understands the ordinary person. Actually provides a valuable service to ordinary people. Talks actual productive sense. Doesn't just pointlessly, unprofessionally, immaturely and unproductively winge and use foul, insulting name-calling rhetoric on Twitter all day long. Instead communicates directly with the government and opposition in a mature, courteous, productive and useful manner. And actually provides productive, valid and sensible alternative suggested solutions. Gary Lineker and Carole Vorderman could learn a lot from Martin Lewis.
Can’t really compare him with Lineker. Martin actually knows the details of what he talks about. Also helps loads of people. Lineker just posts things that sound like they make him a good person.
Martin Lewis is a respected finance professional - Lineker is a leftist autocue reader who knows nothing about Illegal Immigration, other than he likes it....then again it doesn't affect him, does it so he (like Vordeman) can afford to virtue signal to the hilt !
I had this issue and had to pay back two years of child benefit. If a couple have uneven income, one high, one low, adding to X- then they don't get child benefit because of the higher earner. But a couple with equal salaries adding to the same X, get to keep child benefit despite the hosuehold income being the same. It's daft.
Daft enough for me to leave the UK in 2011. I knew if this was a glimpse of Tory thinking, things were not going to go well. Best decision I ever made.
And two people get taxed less than one person percentage wise, especially when you consider a higher wage might dip into the tax 40% bracket. Two people get £24k tax free.
We don't have that in Canada, We have to put down the family income.. But in our taxes if one spouse works and the other stays home , then the working spouse making lots of money goes into a higher tax bracket and you only get a small deduction for your spouse who doesn't work. You pay less total tax if you both work lower paying jobs.
Another anti-family policy is the hard cut-off (no taper) for tax-free childcare/30 hours free childcare at £100k. So if one parent earns between £100k-£140k with a child in nursery, due to the loss of this assistance they are in fact worse off after tax than someone earning a pound under the threshold. Worse, this doesn't account for the financial situation of the other parent, so a couple with one breadwinner on £100k is *significantly* worse off than two parents earning £50k each (the latter also get full child benefit and no 40p tax). The only way to dodge this trap is to contribute silly amounts into your pension to stay below the threshold. And don't get me started on the hidden 62% marginal tax rate disguised in the personal allowance taper, or the ridiculous IR35 rules, or the fact that public transport commuting costs and health insurance aren't tax deductible like other countries, or the fact that the 40p threshold has been left at a stupidly low level (if adjusted for inflation over the years it should be at £70k-ish by now) dragging people with very ordinary incomes into the "higher earner" band. All of this has happened on the watch of the "conservative" party, the so-called party of "low taxes, limited government and fiscal responsibility". Lol.
@ricequackers yeah the 40p thing is a complete travesty. Especially when you consider the bracket goes all the way up £125000.thats a wide gap. Grand canyon size
50000 is more than enough to live off without any benefits, shows how much taxpayers money goes to those who shouldn't need it, criminal that benefits are given to those on a good wage
Current Govt is only interested in their cronies, mismanaged expenditure, the kind of bizarre schemes a rational person would battle to come up with like Rwanda. By freezing income tax bands (fiscal drag) and reducing deductions/ exemptions in an inflationary environment just means that the average person is poorer in a cost of living crisis.
Britain is a weird anomality, why is beyond me. But then you have this very odd two party system with a one party government sitting for years and in a class society, So how weird is it actually.
Why? For being a multi multi millionaire who refuses to let people tell him money saving ideas because his ego can not bare it? I tried to tell him some ideas I had and his site told me to **** off for no reason other than HIS F-ING ego!
We've been moving backwards relative to the progress of much of the rest of the world for the last decade... The Tories have, yet again, failed this country and must never see power again
Why shouldn't they? You are means testing on the tax side already, if you means tax on the benefit side as well you inevitably end up with unfairness. Just pay everyone the benefits and put up taxes a bit.
But the point is if you have one person in a married cohabiting couple earning 60K and the other earning nothing or less than £50K, child benefit stops. But if you have the same two people on £30K child benefit (which adds up to £60K as well), then child benefit continues. Same income, but a dramatic loss of child benefit entitlement.
@shadowbanned975 Depends what you mean by alot. You can't rent and save for a property. You would struggle to buy a property by yourself without a big deposit. 60k today is like 30k in 2010.
@@spacemonkey200 Two people on 25K only get taxed 20% on just £26K (because of the £12K tax-free allowance per individual X 2). One person on 50K gets taxed 20% of £38K - AND they (start) losing child benefit. Go figure
The trouble is that this lot has seemingly given up on putting any effort into common sense changes because they just await electoral obliteration. Someone put it well saying that Rishi is basically squatting in nr 10. But dont care which the party it is, thats simply pointless and hurting different people the longer it goes on.
Er no, Tories have a legitimate FIVE YEAR MANDATE. Brown never went early in 2009, did he? At a time of bitter recession, thousands of businesses going bust and a million thrown on Labour's dole scrap heap. Not on your nelly, he didn't.
There is another way. Don't let what the tories have done to this country become an inevitable fact of the country's existence - that we will continue to go backwards for the foreseeable future. Vote someone in who will do better, like labour.
i agree but mate... just look at how many MPs are themselves Landlors... it simpley makes no sense for them to make the housing market better... @@ecaeas4439
@@R1ckmister Your evidence for Labour not being better please? History shows that most people are better off under Labour, whereas the Tories only look after the already stinking-rich...
I am a healthcare worker who 2 years ago earned just below 50000. My wife earns around 15000 working part time.. after the NHS pay rise I was taken Over that 50k threshold, and because of back pay, I now owe nearly a 1000 pound to the HMRC. I really feel this is unjust. Our combined income is less than 70000 per year.. and I didn’t even vote to strike!! Also I think it is very unfair that they can charge interest on tax debt.. if they over charge me on tax do I get interest on money owed to me?? I don’t think so
I do not understand how someone as incompetent in government, as Hunt has been proven, can be allowed anywhere near the country's budget. The entire cabinet is terrible. Need to put someone with a proven track record in fiscal/economic matters to fix the country.
@@jjefferyworboys8138 it's not the money it the decisions made that cause the issues and it wasn't a serious suggestion it's just he has the right idea?
If you had a partner on your wage you'd be near £60K household income wise getting tax free £24K and keeping all child benefit...unlike someone on £60K who loses child benefit totally and is taxed partially into the 40% bracket with only 12% tax-free allowance. You win 🏆 🙌
If this government had any common sense, it might want to engage Martyn as an advisor regarding financial social issues and then listen to him. Try to help people for once instead of throwing money away via vip lanes and cancelled infrastructure projects.
Almost all benefits should be household based and not individual based , same is likely true for taxes. Although this isnt a new thing i first mentioned this 30 odd years ago when i could first vote as its so obvious and we have had varuous chancellors from different parties since then
As someone who got next to nothing student loan and had to struggle with next to no money per week whilst other students were able to go on holidays with their money, all students should get the same money. Basing it on parents income does not mean the student has access to the parents money or that the parents have excess money for the students.
@@LittleTommy25 Councils can’t be trusted with something as essential as housing. Truly drastic action is needed to simply increase the number of homes in this country… This is the only meaningful way to fight spiralling housing costs… ‘affordable’ homes in London are a joke… But that requires something truly drastic
It will require the Tories to **** off for good as many are landlords and ANY improvement to the housing market results in loss of wealth for them!@@LittleTommy25
Problem is my nursery fees rise 11 percent a year. The tax free childcare threshold has remained the same. The threshold is less than 3 days of childcare. So not only do you have the 11 percent increases you are also paying more as it's not tax free
The HICBC should be scrapped. If not then at least the threshold move inline with inflation as Martin said to £65k instead of the 50k it has been at for more than 10 years.
My wife claimed it when my basic was £47k. Since 2017 I have gone above the £60k figure. Despite never seeing a penny of this money, HMRC are now taking it out of my tax code. Surely this is sexist. It should be repaid by my wife surely?
Battle me our non politician people got better brain how life work, against this politicians are pure joke haven’t clue of average people life. great on Martin we need more people like him to be in power
I don’t understand why they can’t give a child care to everyone who has children despite how much they earn. All you creating by this is people who are together but claiming to be singel parents getting house of out taxpayers and then selling them and making profit.
The University’s are not selling an education they are selling British nationality. British universities are the most expensive in the world and the government are quite rightly making more difficult for foreign university graduates to get British nationality which is the reason less of them are coming to the UK. As for British university students, they are discovering that going to university is not the route out of poverty it used to be. Now that 30% of people get a degree the value of it has dropped markedly. The Labour plan to increase university places and devalue occupational training is now coming back to haunt us. Young people should only go to university if they are going to study the right subjects at the right university. A better alternative is to do a modern apprenticeship and get a skill that is in demand. We should stop all subsidies for people buying houses as it just pushes the prices up. We need to reduce demand by restricting immigration. We cannot build our way out of this problem when we have 750,000 migrants per year.
Modern apprenticeships pay too low, and they can last upto 7 years. You've got reform occupational training so it pays. And please note, we've had a Tory government for nearly 14 years, and perhaps why they didn't prioritise reform was that they were making too much money from the status quo.
Regarding housing what we need t do is: Get rid of there Tories once and for all and make sure there party is destroyed beyond repair! The Tories are all multi millionaires and a ,to are landlords who own vast amounts of properties so if they fixed the system their values would fall and so would their wealth. Build more homes including social housing on the same scale as the 1950's - 240,000+ a year! Come up with ways to push the cost of housing down and to make sure that half of that cost saving is passed onto the buyer Cap rents in the private sector Give tenants more protection Force ALL landlords to make sure their properties are fit to live in or face 2 year prison term However I can promise that as I say, no Tory will do a F-ING thing to help anyone who is not themselves or their chums!
@@BigHenFor The University issue is all the Labour parties policy. Once it was brought in it is then very hard to change as all the Polytechnics have been closed. The Tory’s have been trying to make changes but there is resistance from the educational establishment (also Labour dominated). Still we are likely to have a Labour government soon which will be very interesting as this is the first time the Tories have not fixed the economy before the Labour Party gains power. Whilst the economy is not as bad as it was when the Labour Party left there is no spare money or lending available to them. We will have to see if they can find a solution to the problem they created. By the way the Labour government taxed the pension system which is why that is failing and they introduced the family tax credits which have proved fatal for the lower paid, we can only hope they can solve those problems as well. All while making it easier for asylum seekers to get to the UK increasing the numbers of immigrants from the 750,000 we get now whilst solving the housing crisis by building only 250,000 houses. If you think things are bad now, just wait and see what a Labour government will do. 😩😩😩😩😩😩😩😩😩😩
@@taefravis Some interesting points you make but can I shatter your illusions with some facts. It does not matter who owns the property so long as it is occupied. Changing the landlord will not change the fact that there is a shortage of housing. Given the fact that we currently have 750,000 immigrants per year building 250,000 house will not change the fact that there is more demand than supply. The only way to reduce the cost of building a house is to reduce the pay of the workers. The rent cap has been shown to only make the housing problems worse as it discourages people from building new homes. Everywhere it has been tried it had failed. I do agree that landlords should be licensed and the properties inspected, but that will add to the cost of renting. I still think it would be a good idea. At the same time it should be easier to evict tenants who don’t pay their rent or are anti social or damage the property. There are only 2 ways to resolve this problem. Either increase the supply which given the land and skilled labour available is never going to happen or to reduce demand by stopping or reversing immigration. Even if you stopped immigration you would still need to build 250,000 houses a year. The problem for the Labour Party is they want to increase immigration and demand for housing. I believe they want that to keep people poor so that they will vote for them.
Graduates should be in high demand. That is also a massive failing on the part of the government. The UK is being eclipsed when it comes to research and innovation due to a lack of support from the government. The amount of graduates we currently have is probably about right if we want to remain competitive internationally yet we haven't built the industries for them. That's a massive failing of the current government.
Interestingly, this same mismatched structure exists here in the Australian system. Hasn't been any substantial votes in it with only tax cuts to the higher bracket getting the attention.
My parents brought up 3 children without any benefits and only with my father working. Also he did not work the whole year because he used to go on long sailing trips.
@@taefravis He built his own house therefore saving money and avoiding having a mortgage. After that he started his own business, so the money he made was money he paid himself. We are talking 1960s time. You could not do the same today, but it is an illustration of how far our people have fallen. Before starting his own business he designed the navigation system for the Blue Streak rocket. Look it up as it is an interesting story and back in a time when Britain was leading space exploration.
Child benefit was paid automatically and wasn't means tested or limited to a set amount of children until 2010's so your parents would have received child benefit from the state.@@Andrew-rc3vh
It staggers me that we have channeller after channeller from which ever party who seem to be totally incompetent. I cannot for example see the cut in NI contributions making any sense when the NHS is in such a state
£50.000, £60.000 £100.000 My pensions total £15.000 per year and I pay tax on it. Maybe if you are earning £52.000 or £1000 a week you should be able to bring up a child without claiming a benefit from the state. I mean the state only pay you £75 a week dole money?
Martin, you talk so much sense. Thank you for what you are doing
Get rid of the useless corrupt politicians and put Martin in charge 👍
Get rid of the politicians,but not sure about getting Martin in.
Martin is already extremely wealthy; very clever man.
Why is it martin Lewis can come up with solutions to these issues yet our own government can't?
They are letting inflation erode the benefit and don't want to look into it as it draws attention to it.
They don't want to.
the fiscal drag brings in more tax for the treasury, that and the fact they are more bothered about Rwanda, EU courts, small boats, homeless in tents and imaginary tax cuts! in other words, red meat!
@@shaun906they also like spending public money and selling cheap government bonds to their mates.
Which is probably the biggest scam of all and why they need to cut public spending on services and benefits as there’s more for them to skim off the top.
The Tories hands are tied by their extreme neolibralist dogma.
It's come to something when a member of the public (not just any member of the public admittedly) has to sit down a multi millionaire down and tell him where he is going wrong with our money. Arise Sir Martin Lewis for services to the British people and not 650 freeloaders.
you know Martin Lewis is a multi-millionaire right? so it's two rich people talking about poor people topics
@chrisbowser one rips people off,the other has two sit down a millionaire who rips the people off. 2 millionaires Hunt rips the poor off the other helps the poor
@@laurencemorgan7488how is Martin Lewis ripping off people?
@intello8953 Read it again. iv edited it.Thats what I was getting at.
You do sound quite 😄 funny
This is utter nonsense. The child benefit for one child is £1248 per year. Why does someone earning £60,000 a year even need it? And how can't you live off that? I live on a quarter of that and wouldn't beg the government to help me with my child.
Come on now, take responsibility for yourself and your family.
we HAVE moved backwards....
Austerity kills, it is and has always been a bloody expensive failure.
Exacty so. Austerity, Brexit, reduced wealth, reduced freedom of movement and protest. The list goes on.
@@willrichardson519what austerity you clown? We are spending record amounts.
Children are in freezing classrooms with acro’s holding up the roof. The syllabus is now so intensive that its created a secondary industry in tutors for those that can afford it, for those that cant the syllabus is failing them and the teachers delivering it. University campuses appear radicalised after importing American culture wars. Get a job and your hit by low wages, repayment on loans, unaffordable housing & rental housing stock in freezing conditions / mould / damp conditions. What has happened to social mobility? It’s become a means for wealth extraction on anyone with aspirations.
@@Billy_the_fish1 Did you help co-author Britannia Unchained by any chance?
@@Billy_the_fish1 Good luck with the next General Election
Way back!! Started with Margaret Thatcher!! Now the rabbit hole is now a sinkhole!! This is seriously bad,!! Expect a poverty riot soon!!!!
Backwards is not an option, homeless people is increasing.We need to get rid of this non democratic leadership.Fareness is not in their vocabulary,
Most of us aren't even getting 20K
This country is in terminal decline. This bunch of Tories make me feel ill.
The problem is that some of those who went to Eton and Oxbridge and now in government seem to think only people from wealthy backgrounds are intelligent, and people from poorer backgrounds cannot possibly be super intelligent. But if you look back in history a very high proportion of people from ordinary backgrounds and outside the establishment made Britain great from Industry the Military through to civil engineering, whereas some of Britains wasters and traitors came from the upper class and establishment. So if we now restrict advanced education to people from poorer backgrounds then Britain will end up at the bottom end of the G20.
You mean they’re not already on the bottom?
I try not to get too depressed so saying we are not already on the bottom means we have a chance at reversing it.😁
Many pensioners are now paying tax on their pension,we never get a break from tax do we.
Fiscal drag has added 420£ to my annual tax bill I like others are on a modest pension
The 20% rate taking inflation into account should be 14350
Every one pays income tax
@@nicks4934 yes, the point here is that the personal tax free allowance has been frozen for many years despite inflation. So a pensioner who was not paying tax is now paying tax on income that buys no more in real terms than it did back when they paid no tax.
Not even in death
Yeah but free travel ,prescriptions .
Britain has been moving backwards in real terms since the Tory government took over some 14yrs ago 🙄
Hang on, someone gets 60k pa and they're moaning about not getting benefits!!
May move back? We're already there! Destitution, malnutrition, rickets and scurvy are all back.
TB
He said that there are many structural unfairnesses in the tax system? Damn, he should find out who's been in control of that tax system for 14 years and have a right go at them then
And who was in charge of it for the previous 14 years then? I remember it being even more unfair then.
Worse, ninety of the last 120 years, they never take responsibility for their abject failure
Britain moved backwards when it voted in the Tories
And will move even further back when Mr Lego Head gets in 😊
@@asmith6647 Trump doesn't qualify.
It moved backwards when it voted in Bliar
Britbongostan stirred backwards when Bliar came and sithen, we have lived within his Paradigm. Party matters not; only that we live in Bliars B-R-I-T-B-O-N-G-O-S-T-A-N
@@asmith6647because he's a conservative, too
Weve been going back for 14 years.
As a parent of children who have gone and want to go to university, the funding situation is completely broken and not fit for purpose. There is no way soneone can go to uni without sone sort of additional outside funding, which means either getting a job or getting funding from the family and these days more than ever, there is only so much 'spare' money going round, so university has once again become only possible for the wealthy, not because of tuition fees, but because of inadequate provision for living costs.
Investing in every child's lifelong education has high returns for everyone.
It doesn't help matters when there are too few jobs for university students to take part in!There is no structure or help full stop!! University is becoming an upper class system!
@@Cobra1-d8j University has always been an upper class system, who told you it was any different?
The whole grant thing (that was pulled in the Blair/Brown era) was just a fad to make people believe that higher education was more accessible than it actually was.
If you are getting into thousands of pounds of debt just to get a degree, you've already lost.
In the 90s university was free for working class. Then early 2000s it was £3k plus interest then from 2012 it went to £9k plus interest make it make sense. Even if you don't get a graduate level job, you pay it back for the rest of your life. University is a sham for working class, its a no brainer for Upper class because its basically networking with elites.
State benefits while on 49k a year, absolute madness, thats the real scandal here
60grand a year, what do you need child benefit for? Even at 40grand a year.
There should not be any threshold. All mothers should get child benefit irrespective of earnings. This is a ridiculous and punitive measure introduced by David Cameron and George Osborn making the tax system more complicated. Most tax is paid by higher rate tax payers.
Why mothers? Are Dad's not as important?
@@kneedown1980they have a better track record
The problem is, Jeremy Hunt is one of those people who is both incompetent and evil.
Hunt is extremely evil
Married couples with a family sturcture of one stay-at-home parent are affected by this also. In this current world the most financially benefical family structure is to never marry and mum or dad to declaring themselves as a single parent. The partner remains independant and unassociated financially. I would love to see changes in the tax systems that fostered and promoted the family rather than working against it financially.
Not the case, given what he described about the single parent who now earns £60k - and that's probably done to prevent exactly what you're describing.
@@doct0rnic0 the person earning the 60k would be the parent who is unconnected and not the parent claiming child benefit. The common arrangement that I see now days is a mother claiming to be a single parent yet having a partner. There is no benefit to being fancially connected. The mother could be working or claiming housing benefits etc. I've heard of arrangements where the father owns the house and rents it to their partner who is claiming employment and housing benefit. I've also heard of people independently being on housing benefit and claiming to be separated. Then living in one property together and renting out the other property themselves. I'm just saying that I would like to see more financial benefits to honesty, marriage and or declaring your family unit.
@@PluralRecursion The issue I see with what you want to see happen, is that it would become very expensive, with HMRC trying prove that a child has two people as parents and that they should be financially linked. Probably people who think about these things keep their name off of the birth certificate. Even as Martin was outlining the problem, I was thinking about how people would side step any new rules and how expensive it would be to enforce them. Easier just to up the threshold.
@@PluralRecursion "the person earning the 60k would be the parent who is unconnected and not the parent claiming child benefit." - ok... but that's not really how life works, is it? It can't be decided in advance who's going to earn what really (I mean, in broad strokes, maybe).
"I've heard of arrangements where the father owns the house and rents it to their partner who is claiming employment and housing benefit." - well that just sounds like fraud...as are the rest of the examples.
I don't think marriage needs to be encouraged financially.
What I would say is that there's benefit to having universal benefits and not having them means tested, because 1. you don't have to waste administrative funds doing the means-testing 2. It doesn't stigmatise benefits 3. It doesn't create a culture of dishonesty, but rather one of social cohesion.
@@PeterHitchmanYT It's not an issue if child benefit is universal though, is it?
We shouldn't look at individuals for tax or benefits.
It should be household.
As example household of 2 people earning 40k should have same take home pay as household of one where one person earning 20k and other 60k.
Many countries do this and it fair, it also promotes a family unit (something this country currently has issues with.)
I assume you mean household as a family unit, not living under the same roof?
100%. Martin is so right in pointing out the unfairness of the tax system for families. Every other country does some amount of re-balancing when a couple has children so these kinds of anomalies don’t happen. Only in the UK do families with joint children get treated the same as a single adult, leading to a huge squeeze on both single parents and couples with children.
We should invest in quality national childcare service, like Nordic countries.
Martin Lewis ........ well on the way to becoming a Daily Mail hate figure , right up there with Gary Lineker and Carole Vorderman, well done sir 👏 👍
Not so. Because unlike Gary Lineker and Carole Vorderman. Martin Lewis is: In touch with and understands the ordinary person. Actually provides a valuable service to ordinary people. Talks actual productive sense. Doesn't just pointlessly, unprofessionally, immaturely and unproductively winge and use foul, insulting name-calling rhetoric on Twitter all day long. Instead communicates directly with the government and opposition in a mature, courteous, productive and useful manner. And actually provides productive, valid and sensible alternative suggested solutions. Gary Lineker and Carole Vorderman could learn a lot from Martin Lewis.
That's good point actually, why isn't he?
Can’t really compare him with Lineker. Martin actually knows the details of what he talks about. Also helps loads of people. Lineker just posts things that sound like they make him a good person.
Martin Lewis is a respected finance professional - Lineker is a leftist autocue reader who knows nothing about Illegal Immigration, other than he likes it....then again it doesn't affect him, does it so he (like Vordeman) can afford to virtue signal to the hilt !
So is it then that anyone who calls out the tories risks becoming a hate figure,
I had this issue and had to pay back two years of child benefit. If a couple have uneven income, one high, one low, adding to X- then they don't get child benefit because of the higher earner. But a couple with equal salaries adding to the same X, get to keep child benefit despite the hosuehold income being the same. It's daft.
Daft enough for me to leave the UK in 2011. I knew if this was a glimpse of Tory thinking, things were not going to go well. Best decision I ever made.
And two people get taxed less than one person percentage wise, especially when you consider a higher wage might dip into the tax 40% bracket. Two people get £24k tax free.
We don't have that in Canada, We have to put down the family income..
But in our taxes if one spouse works and the other stays home , then the working spouse making lots of money goes into a higher tax bracket and you only get a small deduction for your spouse who doesn't work. You pay less total tax if you both work lower paying jobs.
Another anti-family policy is the hard cut-off (no taper) for tax-free childcare/30 hours free childcare at £100k. So if one parent earns between £100k-£140k with a child in nursery, due to the loss of this assistance they are in fact worse off after tax than someone earning a pound under the threshold. Worse, this doesn't account for the financial situation of the other parent, so a couple with one breadwinner on £100k is *significantly* worse off than two parents earning £50k each (the latter also get full child benefit and no 40p tax). The only way to dodge this trap is to contribute silly amounts into your pension to stay below the threshold.
And don't get me started on the hidden 62% marginal tax rate disguised in the personal allowance taper, or the ridiculous IR35 rules, or the fact that public transport commuting costs and health insurance aren't tax deductible like other countries, or the fact that the 40p threshold has been left at a stupidly low level (if adjusted for inflation over the years it should be at £70k-ish by now) dragging people with very ordinary incomes into the "higher earner" band. All of this has happened on the watch of the "conservative" party, the so-called party of "low taxes, limited government and fiscal responsibility". Lol.
@ricequackers yeah the 40p thing is a complete travesty. Especially when you consider the bracket goes all the way up £125000.thats a wide gap. Grand canyon size
I've been saying for years how unfair the system is. Glad this is now more at the forefront of discussions.
It’s designed to be, to keep you poor.
Too many people are sleepwalking through life.
Martin Lewis for Chancellor
We should appoint people who know how to run rather than want to benifit from running
Risk? The uk has gone backwards from austerity and Brexit
We can still be dragged further backwards if obdurate stupidity takes further rooting.
50000 is more than enough to live off without any benefits, shows how much taxpayers money goes to those who shouldn't need it, criminal that benefits are given to those on a good wage
Depends where you live and it's not enough for a single working parent.
Do you know how much childcare costs per month????
Martin and Simon Calder, the two most respected experts in Britain.
Current Govt is only interested in their cronies, mismanaged expenditure, the kind of bizarre schemes a rational person would battle to come up with like Rwanda. By freezing income tax bands (fiscal drag) and reducing deductions/ exemptions in an inflationary environment just means that the average person is poorer in a cost of living crisis.
Britain is a weird anomality, why is beyond me. But then you have this very odd two party system with a one party government sitting for years and in a class society,
So how weird is it actually.
Yet, it is Rishi who said a vote for Labour is a step back to square one (back to when the NHS was fully funded).
There is no 'may' we have gone backwards
Martin Lewis should be made a Sir.
He should be made a peer so he can become Chancellor of the Exchequer.
Why? For being a multi multi millionaire who refuses to let people tell him money saving ideas because his ego can not bare it?
I tried to tell him some ideas I had and his site told me to **** off for no reason other than HIS F-ING ego!
We've been moving backwards relative to the progress of much of the rest of the world for the last decade... The Tories have, yet again, failed this country and must never see power again
To earn that sort of money of 60k who should be getting these kind of benefits
Why shouldn't they? You are means testing on the tax side already, if you means tax on the benefit side as well you inevitably end up with unfairness. Just pay everyone the benefits and put up taxes a bit.
Two people on £30K each, sharing income, outgoings and a bank account also earn £60K that's the whole point
@@bg16162 people on 30 k each will have more money left after tax right due to the 12.5k allowance
Mismanagement for 14 years
Managed for their billionaire boss backers, but not for the common good.
Why should people have children and expect someone else to pay to keep them. Think before you have children.
So the demography works better for us all
I assume this is based London wages as 60k in the north of England is alot of money.
Depends. It ain't a lot in a city.
But the point is if you have one person in a married cohabiting couple earning 60K and the other earning nothing or less than £50K, child benefit stops. But if you have the same two people on £30K child benefit (which adds up to £60K as well), then child benefit continues. Same income, but a dramatic loss of child benefit entitlement.
60k is a lot of money in the Southeast as well.
@shadowbanned975 Depends what you mean by alot. You can't rent and save for a property. You would struggle to buy a property by yourself without a big deposit. 60k today is like 30k in 2010.
@@spacemonkey200 Two people on 25K only get taxed 20% on just £26K (because of the £12K tax-free allowance per individual X 2). One person on 50K gets taxed 20% of £38K - AND they (start) losing child benefit. Go figure
Britain have already moved backwards .not may 🙄
The trouble is that this lot has seemingly given up on putting any effort into common sense changes because they just await electoral obliteration. Someone put it well saying that Rishi is basically squatting in nr 10. But dont care which the party it is, thats simply pointless and hurting different people the longer it goes on.
Please tell me one common sense change since 2010 that helped you
Fishy Sunak is calculated. He and his extended family are making huge profits from his time in No. 10.
Er no, Tories have a legitimate FIVE YEAR MANDATE. Brown never went early in 2009, did he?
At a time of bitter recession, thousands of businesses going bust and a million thrown on Labour's dole scrap heap.
Not on your nelly, he didn't.
Weve been going backwards for the last 20 years.
50 years, we were an incredibly egalitarian country in the late 60s early 70s
The reason so much wrong with all that's unfair is the greed and class obsessed Tories !
Risks?? UK is going full speed ahead backwards for a loooong time 🎉
They can keep it as far as I'm concerned. People need to take hmrc to court
Martin... we are going backwards... there is no other way
There is another way. Don't let what the tories have done to this country become an inevitable fact of the country's existence - that we will continue to go backwards for the foreseeable future. Vote someone in who will do better, like labour.
i agree but mate...
just look at how many MPs are themselves Landlors... it simpley makes no sense for them to make the housing market better...
@@ecaeas4439
Labour? We are in this mess cause of Covid, it would be 10x worse if those lockdown hysterical idiots were in charge
@@ecaeas4439 Better like labour, having a laugh
@@R1ckmister Your evidence for Labour not being better please? History shows that most people are better off under Labour, whereas the Tories only look after the already stinking-rich...
Another point if your single in the uk your discriminated against fact
We’ve been moving backwards for 12 years, day 1, David Cameron and austerity
I am a healthcare worker who 2 years ago earned just below 50000. My wife earns around 15000 working part time.. after the NHS pay rise I was taken Over that 50k threshold, and because of back pay, I now owe nearly a 1000 pound to the HMRC. I really feel this is unjust. Our combined income is less than 70000 per year.. and I didn’t even vote to strike!!
Also I think it is very unfair that they can charge interest on tax debt.. if they over charge me on tax do I get interest on money owed to me?? I don’t think so
Interest is paid on overpaid taxes.
We're already on that march back to the dark ages.freedom is becoming smaller and smaller every year.
Child Benefit should just not be means tested
No Means testing for child benefits in Ireland. The Goverment toyed with the idea of taxing this benefit, but so far have desisted from doing so.
The lesson learned here is don’t have kids!!!
💯
@@AegisKit was said in jest, however to complete the thread I already have one.
Why don't people who don't have kids get rewarded, they save the State millions each year ?
The lesson learned here is for you to stop thinking!
Surely it's don't vote the lying Tories back into power ever again?
I do not understand how someone as incompetent in government, as Hunt has been proven, can be allowed anywhere near the country's budget. The entire cabinet is terrible. Need to put someone with a proven track record in fiscal/economic matters to fix the country.
I am sorry but if you can't live on £60k then there is serious lifestyle inflation at play.
What's 60k in London , Bristol, oxford and few other cities in the UK?
Not much especially for a family of 4.
@@ansut3440 £60k is still a substantial amount of money. People live on alot less every single day in the UK.
Moving? From across the Irish Sea it looks more like tumbling.
It's an accelerating collapse
Moving backwards to where? I thought we were already back to the 1880s. :/
The same is true of income and council tax systems in general which unfairly penalise single and child-free people.
... and let off more expensive properties...
The LHA cap needs to be removed rents have far outstripped it.
No surprise really look what hunt did to the NHS .
Matin Lewis for prime minister
How funny you want someone almost as rich as Sunak as PM ?
@@jjefferyworboys8138 it's not the money it the decisions made that cause the issues and it wasn't a serious suggestion it's just he has the right idea?
No! Martin is a multi multi millionaire who cares for himself only like his Tory chums!
Martin cares for Martin...end of!@@greenfingers26
60 thousand 49 thousand? Im not even on 30 thousand
If you had a partner on your wage you'd be near £60K household income wise getting tax free £24K and keeping all child benefit...unlike someone on £60K who loses child benefit totally and is taxed partially into the 40% bracket with only 12% tax-free allowance. You win 🏆 🙌
We had to stop ours too. My wife is on maternity leave, so no income, and mine is now over the thresholds. So unfair...
Your decision to have kids chum.
If this government had any common sense, it might want to engage Martyn as an advisor regarding financial social issues and then listen to him. Try to help people for once instead of throwing money away via vip lanes and cancelled infrastructure projects.
Oliver Twist,"Please sir can I have some more" ,...
Should scrap the child benefit altogether.
Britain is already moving backwards and it is happening for sime time almost 2 decades since 2008
It started in the late 60s to mid 70s
Almost all benefits should be household based and not individual based , same is likely true for taxes. Although this isnt a new thing i first mentioned this 30 odd years ago when i could first vote as its so obvious and we have had varuous chancellors from different parties since then
Some might suspect this was left in to punish single mothers.
Why not get Martin in as Chancellor?
I'd back him any day,got to be better than the idiot we have now.
But you hate very rich people ? He is worth over £100m !
Martin is an egotistical selfish multi multi multi millionaire!
2 months into the job he will be public enemy number 1 like the rest.
As someone who got next to nothing student loan and had to struggle with next to no money per week whilst other students were able to go on holidays with their money, all students should get the same money.
Basing it on parents income does not mean the student has access to the parents money or that the parents have excess money for the students.
Martin Lewis for prime minister please
The housing market is trashed... all we need to do is to fix the HOUSING BUILDING MARKET
I honestly believe that will require a change in the national psyche.
@@LittleTommy25 Councils can’t be trusted with something as essential as housing. Truly drastic action is needed to simply increase the number of homes in this country… This is the only meaningful way to fight spiralling housing costs… ‘affordable’ homes in London are a joke…
But that requires something truly drastic
I'm very pleased my new home has over 2 acres.
It will require the Tories to **** off for good as many are landlords and ANY improvement to the housing market results in loss of wealth for them!@@LittleTommy25
@@jjefferyworboys8138 Floor space or garden...😂
Problem is my nursery fees rise 11 percent a year. The tax free childcare threshold has remained the same. The threshold is less than 3 days of childcare. So not only do you have the 11 percent increases you are also paying more as it's not tax free
Moving backwards was the will of the people.
Or
Don't means test child benefit at all. Yes millionaires children's are no less or more worthy than someone on 35k or 55k.
I agree. Gordon Brown used to talk about "that little bit of child support always there no matter what".
@@bg1616paid directly to the mother, as she knows best and may not have access to dad's income
@@willrichardson519 Whoever has custody of the child, surely.
Martin Lewis and Alfie Best (the Gypsy Billionaire) could put the UK back together again ! Unlike the politicians.
The HICBC should be scrapped. If not then at least the threshold move inline with inflation as Martin said to £65k instead of the 50k it has been at for more than 10 years.
No one on 60k should be receiving child benefit at all.
My wife claimed it when my basic was £47k. Since 2017 I have gone above the £60k figure. Despite never seeing a penny of this money, HMRC are now taking it out of my tax code. Surely this is sexist. It should be repaid by my wife surely?
The major restructuring of taxes, should be away from earned income and vat to unearned land value tax and polluters
Battle me our non politician people got better brain how life work, against this politicians are pure joke haven’t clue of average people life.
great on Martin we need more people like him to be in power
It’s a nail in the birth rate coffin.
I don’t understand why they can’t give a child care to everyone who has children despite how much they earn. All you creating by this is people who are together but claiming to be singel parents getting house of out taxpayers and then selling them and making profit.
first time I have heard of this 1% mortgages and this just seems pure insanity
The University’s are not selling an education they are selling British nationality. British universities are the most expensive in the world and the government are quite rightly making more difficult for foreign university graduates to get British nationality which is the reason less of them are coming to the UK. As for British university students, they are discovering that going to university is not the route out of poverty it used to be. Now that 30% of people get a degree the value of it has dropped markedly. The Labour plan to increase university places and devalue occupational training is now coming back to haunt us. Young people should only go to university if they are going to study the right subjects at the right university. A better alternative is to do a modern apprenticeship and get a skill that is in demand.
We should stop all subsidies for people buying houses as it just pushes the prices up. We need to reduce demand by restricting immigration. We cannot build our way out of this problem when we have 750,000 migrants per year.
Modern apprenticeships pay too low, and they can last upto 7 years. You've got reform occupational training so it pays. And please note, we've had a Tory government for nearly 14 years, and perhaps why they didn't prioritise reform was that they were making too much money from the status quo.
Regarding housing what we need t do is:
Get rid of there Tories once and for all and make sure there party is destroyed beyond repair!
The Tories are all multi millionaires and a ,to are landlords who own vast amounts of properties so if they fixed the system their values would fall and so would their wealth.
Build more homes including social housing on the same scale as the 1950's - 240,000+ a year!
Come up with ways to push the cost of housing down and to make sure that half of that cost saving is passed onto the buyer
Cap rents in the private sector
Give tenants more protection
Force ALL landlords to make sure their properties are fit to live in or face 2 year prison term
However I can promise that as I say, no Tory will do a F-ING thing to help anyone who is not themselves or their chums!
@@BigHenFor The University issue is all the Labour parties policy. Once it was brought in it is then very hard to change as all the Polytechnics have been closed. The Tory’s have been trying to make changes but there is resistance from the educational establishment (also Labour dominated). Still we are likely to have a Labour government soon which will be very interesting as this is the first time the Tories have not fixed the economy before the Labour Party gains power. Whilst the economy is not as bad as it was when the Labour Party left there is no spare money or lending available to them. We will have to see if they can find a solution to the problem they created. By the way the Labour government taxed the pension system which is why that is failing and they introduced the family tax credits which have proved fatal for the lower paid, we can only hope they can solve those problems as well. All while making it easier for asylum seekers to get to the UK increasing the numbers of immigrants from the 750,000 we get now whilst solving the housing crisis by building only 250,000 houses. If you think things are bad now, just wait and see what a Labour government will do. 😩😩😩😩😩😩😩😩😩😩
@@taefravis Some interesting points you make but can I shatter your illusions with some facts.
It does not matter who owns the property so long as it is occupied. Changing the landlord will not change the fact that there is a shortage of housing. Given the fact that we currently have 750,000 immigrants per year building 250,000 house will not change the fact that there is more demand than supply. The only way to reduce the cost of building a house is to reduce the pay of the workers. The rent cap has been shown to only make the housing problems worse as it discourages people from building new homes. Everywhere it has been tried it had failed. I do agree that landlords should be licensed and the properties inspected, but that will add to the cost of renting. I still think it would be a good idea. At the same time it should be easier to evict tenants who don’t pay their rent or are anti social or damage the property.
There are only 2 ways to resolve this problem. Either increase the supply which given the land and skilled labour available is never going to happen or to reduce demand by stopping or reversing immigration. Even if you stopped immigration you would still need to build 250,000 houses a year. The problem for the Labour Party is they want to increase immigration and demand for housing. I believe they want that to keep people poor so that they will vote for them.
Graduates should be in high demand. That is also a massive failing on the part of the government. The UK is being eclipsed when it comes to research and innovation due to a lack of support from the government. The amount of graduates we currently have is probably about right if we want to remain competitive internationally yet we haven't built the industries for them. That's a massive failing of the current government.
Arent we already moving back? I certainly dont see us moving forward.....
1% mortgages are disgusting
Interestingly, this same mismatched structure exists here in the Australian system. Hasn't been any substantial votes in it with only tax cuts to the higher bracket getting the attention.
Britain is falling apart. They need to look at the republic of Ireland 🇮🇪 model, their economy is
Growing and they have a better standard of living.
Imagine Hunt from the landed gentry setting the countries budget to benefit the whole nation?? It ain't going to happen!
No nation tories, backed by billionaire bosses
I wrote to jeremy hunt on this and he didn't have the decency to reply
My parents brought up 3 children without any benefits and only with my father working. Also he did not work the whole year because he used to go on long sailing trips.
But they got child benefit didnt they?
@@deco2132 I don't think so.
Yes, easy when you get paid enough to go sailing whenever you like meanwhile those if us in the real world...
@@taefravis He built his own house therefore saving money and avoiding having a mortgage. After that he started his own business, so the money he made was money he paid himself. We are talking 1960s time. You could not do the same today, but it is an illustration of how far our people have fallen. Before starting his own business he designed the navigation system for the Blue Streak rocket. Look it up as it is an interesting story and back in a time when Britain was leading space exploration.
Child benefit was paid automatically and wasn't means tested or limited to a set amount of children until 2010's so your parents would have received child benefit from the state.@@Andrew-rc3vh
It staggers me that we have channeller after channeller from which ever party who seem to be totally incompetent. I cannot for example see the cut in NI contributions making any sense when the NHS is in such a state
Martin I've got news for you. We have been going backwards for years. Jeremy Hunt the original hatchet man😡
£50.000, £60.000 £100.000 My pensions total £15.000 per year and I pay tax on it. Maybe if you are earning £52.000 or £1000 a week you should be able to bring up a child without claiming a benefit from the state. I mean the state only pay you £75 a week dole money?