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The Clubhouse Bar
A Political Thread pt. 2
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<blockquote data-quote="Bada-Bing!" data-source="post: 1102146" data-attributes="member: 70552"><p>And if you're renting from a buy to let landlord their mortgage rate will increase and pass onto tenants. Only savers benefit if banks pass on the interest rate rise, but not by much. </p><p></p><p>Apparently interest rates going back up to 5+ % by Spring if BOE is determined to get inflation back to 2%. It's just under 10% atm.</p><p></p><p>Makes a mockery of not releasing the ONS's summary of how Kwarteng hopes to find these tax cuts. </p><p></p><p>FYI the removal of the additional rate and NI reverting back also means: </p><p></p><p>1. No additional rates on dividends. Was 38.1% and was due to increase to 39.35%. Now back to 32.5%. this goes for basic rate back to 7.5%</p><p>2. Additional rate payers also getting a £500 savings allowance. 40% thereafter. </p><p>3. Employer's NI back to 13.8% as well as employees NI. </p><p></p><p>All NHS funding from the 1.25% social levy now to be funded from existing taxation. Wasn't the point of it because long term it was meant to fund long term investment in NHS and also care because we are living longer. </p><p></p><p>So funding the above price energy cap for homes and businesses, the massive debt built up from Covid pandemic, and waste from the PPE, loans not repaid etc. from what we paid before? </p><p></p><p>And Tories accuse Labour of the living in a dreamland and asking where this magic money tree is? Now the shoe is on the other foot.</p></blockquote><p></p>
[QUOTE="Bada-Bing!, post: 1102146, member: 70552"] And if you’re renting from a buy to let landlord their mortgage rate will increase and pass onto tenants. Only savers benefit if banks pass on the interest rate rise, but not by much. Apparently interest rates going back up to 5+ % by Spring if BOE is determined to get inflation back to 2%. It’s just under 10% atm. Makes a mockery of not releasing the ONS’s summary of how Kwarteng hopes to find these tax cuts. FYI the removal of the additional rate and NI reverting back also means: 1. No additional rates on dividends. Was 38.1% and was due to increase to 39.35%. Now back to 32.5%. this goes for basic rate back to 7.5% 2. Additional rate payers also getting a £500 savings allowance. 40% thereafter. 3. Employer’s NI back to 13.8% as well as employees NI. All NHS funding from the 1.25% social levy now to be funded from existing taxation. Wasn’t the point of it because long term it was meant to fund long term investment in NHS and also care because we are living longer. So funding the above price energy cap for homes and businesses, the massive debt built up from Covid pandemic, and waste from the PPE, loans not repaid etc. from what we paid before? And Tories accuse Labour of the living in a dreamland and asking where this magic money tree is? Now the shoe is on the other foot. [/QUOTE]
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