Here in the UK, the Personal Allowance for Income Tax has gone up from £5,435 p/a to £6,035 p/a, in an attempt to reimburse the poorer half of the nation who got stung by the 10p tax adjustment. For those who don't know, the then-chancellor of Britain made a change a little while ago to the inheritance tax (which most considered unfair since it effectively taxes dead people), and was loved by everyone. Then he revealed that he wanted to make the money up by changing the Income Tax system, which almost doubled the tax levy on some of the most vulnerable households in Britain. So now, most people want to stone him.
Anyway, enough people complained, and the result:
I'm gonna be £10 a month better off than I would be otherwise. Wow. Just wow.
Unfortunately, that ignores the effect of losing the 10% Starting Rate band, which got us into this mess in the first place.
Here's a few figures about my tax bill:
Based on the P/A of £5,435, I would have been £366 worse off this year than last.
Based on the P/A of £6,035, I will still be £246 worse off this year than last.
Yeah, I'm not a political person, heck I don't even vote. But I work in accounts, so I have to give a damn about the 10p tax band thing.
I think so many people are annoyed about it because it's a move that actually targets the poorest people in the country. Even people like me who are generally unpolitical still get upset by it because it's just so utterly harsh. In a time where more Britains are millionaires than ever before, they have to go and tax the 10-percenters?
It could almost be funny, in a twisted kind of way.
The toris and lib-dems jump on the band wagon saying...
If you had any clue about politics you would know about the recent series of policies Labour just went and stole off the Tories. I used to vote Labour but they've really dropped the ball, I mean when are we actually going to vote Gordon into power? It'd also be nice if the middle class wasn't financially raped by our Labour overlords.
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