A Manifesto for 2024

[Witton Park]

Which suggests to me it should continue to run our wonderful country. Particularly in the absence of any sensible alternative.

That's assuming the current incumbents are sensible - their policy on Rwanda would suggest otherwise and isn't the only red flag.

[MattPo]

That's assuming the current incumbents are sensible - their policy on Rwanda would suggest otherwise and isn't the only red flag.

Blimey, one of the few times I agree with WP!
Merry Christmas one and all.

[Witton Park]

Looks like the last topic put a few folk off, so on to the next.

Work and Pensions

Employment Taxes and allowances, minimum wage and welfare support.

The following to be phased in over 3 years.

The Tax Free Allowance on income will be abolished, currently £12,570 and replaced with a 10% Low Tax Allowance on all income up to Minimum Wage x 40 hours + 20% due to be approximately £28,500.
25% Standard Rate £28,500 to £100,000
40% Higher rate over £100,000.

Introduce an option for full or part transfer of the Low Tax Allowance for married couples where dependent children live at home.

National Insurance to be phased out.

Employees over state retirement age will only pay income tax at the lower 10% rate.

The State Pension Triple lock will be scrapped and the increase will be set at 80% of the inflation rate.

A new Personal Social Insurance (PSI) will be paid on all income up to £100k, with 10% paid by employee and 10% paid by employer, including the public sector with the current system for public sector pensions phased out over the 3 year period.

All new public sector staff will be employed on the workplace pension scheme with immediate effect.

PSI will have elements to cover Workplace Pension Fund, Personal Health and Dental Care Cover, Social Care Cover and a contribution to a National Fund to support a National Safety Net.

A further employer PSI surcharge will be paid at £10 per employee flat rate and at 2% on all income over £100k into a National Fund to support a National Safety Net.

The Minimum Wage will be reformed to include minimum rates of pay for unsociable hours, bank holiday working and flexible working.
For example the working week will be defined as Monday - Friday 7:00am to 7:00pm.
7-00pm to 7:00am will be MW + 20%
Weekends will be +20%
Variable shift patterns will be MW +20%
These are cumulative, so could be up to 60%.
Due to these uplifts, increases in MW standard rate will be capped at 80% of the inflation rate.

A Guaranteed Job (GJ). No one should have to rely entirely on benefits except the most severely disabled/incapacitated and the taxpayer shouldn’t be expected to maintain people at a level of income that is higher than they attain themselves.
There will be a guaranteed job of 37.5 hours per week paid at the Minimum Wage rates.

State retirement age will be fixed and reviewed annually two years in advance based on 80% of average life expectancy.

Unemployment Benefit will be phased out.

Disability Related Benefits will be phased out.

All local authorities will have a statutory obligation to operate a Guaranteed Jobs scheme.

The National Safety Net – there will be people who cannot work at all, or for whom the Guaranteed Job system is not suitable. There will also be some who can fit into the Guaranteed Jobs scheme but may still need additional support on a regular or one-off basis. The National Safety Net will provide a tailored package appropriate to each individuals needs.

[molehill]

I may well have my maths wrong here or be misunderstanding but:

The Tax Free Allowance on income will be abolished, currently £12,570 and replaced with a 10% Low Tax Allowance on all income up to Minimum Wage x 40 hours + 20% due to be approximately £28,500.
25% Standard Rate £28,500 to £100,000
40% Higher rate over £100,000.p

If you earn £99,999pa you have a net of £75000, but when you jump over the £100k into the higher tax bracket (40%) you have a lower net income until you reach £125k gross - which brings you back to the £75k net. Possibly self employed could use it against expenses and benefit?

So nobody will want to have a gross income between 100 - 125k pa as it gives them a lower net income. Leading to people either sticking in the lower tax bracket or seeking a wage increase of minimum £25k.

Have I got that right?

[Witton Park]

I may well have my maths wrong here or be misunderstanding but:

The Tax Free Allowance on income will be abolished, currently £12,570 and replaced with a 10% Low Tax Allowance on all income up to Minimum Wage x 40 hours + 20% due to be approximately £28,500.
25% Standard Rate £28,500 to £100,000
40% Higher rate over £100,000.p

If you earn £99,999pa you have a net of £75000, but when you jump over the £100k into the higher tax bracket (40%) you have a lower net income until you reach £125k gross - which brings you back to the £75k net. Possibly self employed could use it against expenses and benefit?

So nobody will want to have a gross income between 100 - 125k pa as it gives them a lower net income. Leading to people either sticking in the lower tax bracket or seeking a wage increase of minimum £25k.

Have I got that right?

If you earn £99,999 you have income tax of
up to £28500 @ 10%
28501-99999 @ 25%
= 20724.50
so an income of £79274.50 after income tax

If you receive an increase to 105k you then have an additional
£1 @ 25%
£5000 @ 40%
= £1250.25
so an income of £83025.25

[molehill]

That makes more sense - I can accept the pay rise then🙄.

[Witton Park]

That makes more sense - I can accept the pay rise then������.

I wouldn't call it a pay rise. Just the State reducing the amount of money they steal from your hard earned