Ah, but you're part of the robber baron generation. And now you're getting the rules changed to hang onto even more. Well played.£59k. Well, I can’t speak for Harry but if Nosey thinks that’s a lifetimes savings for both of us he's ****ing miles out on just me alone.
Tax & Spend Tories
- Thread starter SirGalahad
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Nonsense.
Stop showing off, Use plain English
It is useful to note that Income Tax allowances will remain frozen at 2021 levels. This is in effect a reduction by the amount of inflation, which is a concealed increase in tax. This is known as "fiscal drag"
"This measure maintains the Personal Allowance and basic rate limit at their 2021 to 2022 tax year levels up to and including the tax year ending 5 April 2026.
It will set the Personal Allowance at £12,570, and the basic rate limit at £37,700 for the following tax years:
https://www.gov.uk/government/publi...-rate-limit-from-6-april-2022-to-5-april-2026
"This measure maintains the Personal Allowance and basic rate limit at their 2021 to 2022 tax year levels up to and including the tax year ending 5 April 2026.
It will set the Personal Allowance at £12,570, and the basic rate limit at £37,700 for the following tax years:
- 2022 to 2023
- 2023 to 2024
- 2024 to 2025
- 2025 to 2026
https://www.gov.uk/government/publi...-rate-limit-from-6-april-2022-to-5-april-2026
You might be thinking of the late 90s to 2008. 100-110% mortgages were a thing then, but not now.
Used to be oldies were afraid that some young hoodie would mug them coming out of the post office with their pension.
Nowadays some young people want to mug old folks before they even get their pension.
If youngsters want to buy a house, they need to get a proper job.
There are chronic shortages of labour in all sectors of the economy, so employers need to pay higher wages to attract labour, young people should be able to take advantage of the laws of supply and demand.
Nowadays some young people want to mug old folks before they even get their pension.
If youngsters want to buy a house, they need to get a proper job.
There are chronic shortages of labour in all sectors of the economy, so employers need to pay higher wages to attract labour, young people should be able to take advantage of the laws of supply and demand.
£59k. Well, I can’t speak for Harry but if Nosey thinks that’s a lifetimes savings for both of us he's ****ing miles out on just me alone.
The average UK person has very much less.
Older generations, who may have bought a house when prices were lower, may have been able to access a more generous pension scheme, and may have never had a student loan or had a zero hours job, are often unsympathetic to the plight of those less fortunate than themselves.
Retired motor mechanics are particularly self-centered.
Everyone on internet forums (generically, anyway) can and do claim to 'have been poor', therefore can type with authority on 'dragging yourself up by the bootstraps'. They lie about it. In the actual, real world, how does a young singly or couple, renting on min wage, give up work, retrain as a _______ (insert trade, makes no difference), and continue to live and pay bills?
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People in jobs with restricted hours earning less than £184 a week won't pay NI, nor will the employer. If the worker has 3 jobs, each paying £175 a week (£525 total) they will still not pay any NI. Part time or zero working may suit some people, but it is handy for employers to cut out NI payments.
Correct.
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When my parents bought their house it was 10 x cheaper than my house I bought about 25 years later, and now after the same number of years after buying my house, it is not worth 10 times as much as I paid for it. I also had interest rates into double figures to contend with. Young people can and do save and buy houses, but others don't, same as when I got my house.
When I bought my first house, 2500 sq ft Victorian terrace, it was less than 3x my salary before tax. Ex council house now c£120k, needing a salary of £40k to be 'as lucky' as me. £40k round here is few and far between outside very good public sector or high skill jobs.
If that was around 1996 then the average price has gone up by a mere 5x. Salaries have gone up by 1.7x.
It is three times harder to buy a house now than when you did. That some people still do doesn't mean it isn't harder.
Well, once again you are WRONG! I fully understand how it works - My tax and NI helped pay for my parents retirement. Now it is time for my retirement to be paid for. The point I made was that over my working life I have more than contributed my share, now it is time for me to take something back from the system.
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