Budget - What would you do?

[DimPrawn]

Armchair economists, what would you do to boost Britain?

Me? Well, glad you asked.

1. Bring dividend tax and income tax inline with each other, but lowering income taxes slightly and raising dividend taxes up. This will benefit most workers, and those relying on dividend income have generous ISA allowances anyway, so can receive divvy income tax free.

2. Reduce VAT to 15%. Everyone should see almost everything 5% cheaper, boosting consumer spending and the economy overall.

3. Bring in a £20K per annum fee for all work permits. So employers using them have to pay the workers wages AND pay the govt £20K pa for the privilege. If they don't like it they can spend £20K p.a. training up or sponsoring a UK worker instead.

4. Stick road tax for all diesels up another £1000 to help on pollution. I don't drive a diesel BTW.

[AtW]

Reducing VAT is the most cretinous thing that can be done.

[DimPrawn]

Reducing VAT is the most cretinous thing that can be done.

So you think Osborne was a genius hiking it to 20%, hitting everyone's pockets, causing the poorest to borrow to survive?

[AtW]

So you think Osborne was a genius hiking it to 20%, hitting everyone's pockets, causing the poorest to borrow to survive?

Yes, it was correct move to increase it to 20% - essential items are VAT free and 2.5% increase is like one off inflation.

When you DECREASE VAT then prices don't drop - it's completely wasted move that only increases margin of retailers.

VAT is one of the most collectable taxes, it should have slowly gone up to 25% over 5-10 years, with income tax slowly reducing to put more money into people's pockets, and THEY can decide where to spend money (including on essential items that are VAT free)

[SueEllen]

Yes, it was correct move to increase it to 20% - essential items are VAT free and 2.5% increase is like one off inflation.

When you DECREASE VAT then prices don't drop - it's completely wasted move that only increases margin of retailers.

VAT is one of the most collectable taxes, it should have slowly gone up to 25% over 5-10 years, with income tax slowly reducing to put more money into people's pockets, and THEY can decide where to spend money (including on essential items that are VAT free)

Thing is most people don't know prepared food and most drinks have VAT on them so it does effect the poorest who often don't have adequate cooking facilities or the time.

[BrilloPad]

Close the tax rules that allow foreigner individuals and companies to use the UK as a tax haven.

[xoggoth]

I was going to give you a Like Dim until until I saw item 4.

I DO drive a diesel BTW.

[AtW]

Thing is most people don't know prepared food and most drinks have VAT on them so it does effect the poorest who often don't have adequate cooking facilities or the time.

More money allocated for edukation purposes, bring back Home Economics to schools and include evening classes for men?

[vetran]

1.clamp down on VAT for imports. Pay the VAT by purchasing HMRC stamps.

2.Close tax loopholes around multinationals exporting profits.

3.Close self employed / LTD loopholes both for wealthy to avoid tax and for companies to avoid employer responsibilities.

4. Join renting deposit scheme to authentication of parties, inspections and property being rented. Failure to register with it to be a criminal offence, share data with councils with Councils & HMRC. End illegal subletting & failing to pay tax.

5. Create a green industry in the UK.
6. Create Electric car industry in the UK.
7. make us independent for food & energy.

[pmeswani]

Cut taxes for the self employed and scrap IR35.

Reduce VAT and tax on fuel.

Temporary reduction in taxes on flights landing into the UK.

Reduction on import duty on certain goods coming from outside the EU.

Get rid of David Davies, Johnson, Gove and Hammond.