Labour is doing a wealth tax. But instead of a one-off hit, it’s rolling out a series of measures to make the richest pay their fair share. 5 examples: - ThreadSky

sebastiansalek.com • 12 hours ago

Labour is doing a wealth tax.

But instead of a one-off hit, it’s rolling out a series of measures to make the richest pay their fair share.

5 examples:

Comments

sebastiansalek.com•12 hours ago

Private jets:

Air passenger duty (APD) on private jets is going up by 50%.

Labour is also consulting on expanding the types of aircraft subject to the tax.

sebastiansalek.com•12 hours ago

Stamp duty on second homes:

Since October, buyers of holiday properties or buy-to-lets pay an extra 5% in stamp duty.

Previously, the rate was 3%.

sebastiansalek.com•12 hours ago

Inheritance tax on agricultural estates:

From April 2026, farms worth £1m or more will pay IHT, closing a tax loophole.

Britain’s biggest landowners are among the most affected:

https://bsky.app/profile/sebastiansalek.com/post/3lbcllzgi522v

sebastiansalek.com•12 hours ago

Abolishing non doms:

Labour is scrapping the status, which allows wealthy people to live in the UK but pay their tax elsewhere.

Despite extending the transition phase, the Treasury still expects to raise the same amount – £33.8bn over five years.

sebastiansalek.com•12 hours ago

Private schools:

Labour introduced 20% VAT on independent school fees in January.

It’s also removing business rates relief. Currently, private schools that are charities get a discount of 80-100%.

sebastiansalek.com•12 hours ago

Three big advantages of this approach:

• Much less resistance than a one-off tax
• Secondary benefits (e.g. fewer polluting flights)
• Revenue is recurring for years to come

In tough economic times, I hope to see more of this.

heppy111.bsky.social•11 hours ago

Put it up by 50,000%

Then triple it.

sebastiansalek.com•10 hours ago

Haha yes hard to justify in most cases aren’t they

heppy111.bsky.social•10 hours ago

Impossible, more like.

No-one needs a private jet.

It's yet another way for the wealthy to opt out of society.

Those ways need closing off.

emmaforenvironment.bsky.social•10 hours ago

It's a start but a lot more is needed. How about equalising capital gains tax with income tax.

oldmanrambling.bsky.social•10 hours ago

Really comforting news for all those folks losing their disability allowance and being told to get back to work. I expect they will see a trickle down effect when the cash starts rolling in from all those second homes and the “farms” opened by billionaires.

sixtiessurvivor.bsky.social•10 hours ago

Don't you think those of working age who can work should? Those who can't go back to their former employment should look for alternatives.
Disability allowance for those who can't work are being eroded by those who can but choose not too.

oldmanrambling.bsky.social•10 hours ago

Owned not opened. Naturally none of these so-called farmers will be opening up their land.

juneussell.bsky.social•3 hours ago

The Green Paper (which is a consultation) hasn’t been published yet. Let’s wait see whether anyone is actually losing their disability allowance.

oldmanrambling.bsky.social•3 hours ago

The “wait and see” line has been a feature since Starmer first took over. However, I think we have seen enough already of how he operates to know how this is going to go down. To say the man is untrustworthy is an understatement.

juneussell.bsky.social•3 hours ago

To say ‘the man is untrustworthy’ a stretch.

oldmanrambling.bsky.social•2 hours ago

OK. There are his broken pledges but also his treatment of “his friend” Corbyn. I could go on.

https://labourhub.org.uk/2024/05/30/starmers-broken-pledgees/

wakeylass.bsky.social•8 hours ago

Where is the evidence for this please?

tcsouthbank.bsky.social•10 hours ago

Can I put the heating on then?🤡

hibou2.bsky.social•1 hour ago

Cut out the ketamine and you probably can . 😵‍💫

ianrexhawkes.bsky.social•7 hours ago

These aren't wealth taxes. They're taxes which mostly affect the wealthy, but they are still consumption taxes, which are relatively easy to avoid by just not partaking of that service. The exception is APR, which does away with some exemptions to the UK's only actual wealth tax, namely IHT.

ianrexhawkes.bsky.social•7 hours ago

Don't get me wrong, it's a good thing to tax those who can afford to pay more, but it's very important to realise that these measures are not a wealth tax and will not stop people from hoarding vast amounts of wealth and growing it through investment.

ianrexhawkes.bsky.social•7 hours ago

At the moment we have one wealth tax in the UK, namely IHT. It is notoriously easy to get around, the the extent that it is basically optional once your estate gets sufficiently large. That's the crucial issue that needs to be fixed with a revised wealth tax, otherwise we will never fix inequality.

babshbruce.bsky.social•9 hours ago

The rich paying their fair share??? I don’t think so. Nothing is fair about what Starmer is doing to the old, the sick, the disabled and the poor but hey ho the rich are paying more on their private jets and schools.

sunspec.bsky.social•7 hours ago

Perfectly reasonable to cut allowances from those who don’t need them, having worked for 55 years and supported labour throughout I hope they halt the gravy train tickets funded by the likes of me.

wakeylass.bsky.social•8 hours ago

What exactly is Starmer doing to the old, sick, disabled and poor?
The WFA became means tested, meaning the rich pensioners didn't get the Government handout...
Now do the rest...

joobileejoolz.bsky.social•5 hours ago

If he had raised the cut off point, that would maybe be the case… however he didn’t so some elderly people HAVE lost their heating support payment who needed it.
The levels of fraudulent claims of PIP are so low that they round to zero… and yet billions could be cut in the next budget announcement.

joobileejoolz.bsky.social•5 hours ago

Do you truly think someone who characterises welfare costs, which keep those old, poor, disabled and sick people you mention alive, as "unsustainable, it's indefensible and it is unfair" is supporting them?

https://www.scope.org.uk/campaigns/open-letter-to-the-chancellor-the-cost-of-cuts-to-disability-benefits

wakeylass.bsky.social•4 hours ago

No one knows what's gonna happen.
This is Scope lobbying the government, it's what they are set up for.

joobileejoolz.bsky.social•3 hours ago

So is it ALL lobbyists you have an issue with, or just the ones defending the disabled and vulnerable? Will you change your view when the changes are announced and the cuts are confirmed or will you find a different excuse?

wakeylass.bsky.social•4 hours ago

You reall5 think pensioners need a government handout of £200. That's £4 per week, or 57p a day!
Plus they get free transport.

joobileejoolz.bsky.social•3 hours ago

If they can’t afford to put the heating on and eat every day, of course I do. The real question is why don’t you? You will be old one day, let’s hope younger people are more empathic when it’s your turn.

joobileejoolz.bsky.social•3 hours ago

I notice you have ‘socialist’ in your bio… with this attitude you wouldn’t pass muster in the Haldane Society, just like the ghoul you are defending. 🙄

wakeylass.bsky.social•4 hours ago

They aren't talking about fraudulent payments to PIP, that the RW media causing hysteria.
The system needs overhauling.
Pensioners have had a 25% increase since 2022.
It was correct to means test this Government handout to wealthy people.
The poorest can claim pension credit.

joobileejoolz.bsky.social•3 hours ago

The poorest pensioners, who are often not computer literate and who don’t all qualify for pension credit, should claim it… so if many of them aren’t already, how much more will it cost to pay them all regular pension credits as opposed to a one off payment of a couple of hundred quid?

babshbruce.bsky.social•3 hours ago

What about those who’re not poor enough to qualify for Pension Credit and it’s a very low bar? Estimates think around 2 million people. We have one of the lowest pensions in Europe and 20% of not much is also not much. Govs own impact assessment estimates 4000 extra deaths. NOT a “Labour” party.

pamnashes.bsky.social•11 hours ago

📌

gingerjill.bsky.social•10 hours ago

Thank you again for finding Labours lights under bushes!

gingerjill.bsky.social•10 hours ago

Damn *bushels*

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