Rachel Reeves

[dreamwaverider]

Rachel is piling on the pounds. Must be all the stress. Needs to get in a gym.

 

[beak]

Rachel is piling on the pounds. Must be all the stress. Needs to get in a gym.

Stress is normally slimming!

 

[Stirlingsays]

Don’t worry, I work in tax 😎

Get the next round in then.

 

[CPFCSaturn]

This isn’t exactly true as you start losing your personal allowance once you start earning over £100k.

You then have the extra absurdity where there’s an effective tax rate of 60% between that and £125k as you have to pay back 20% as well as pay an extra 40% on every £ earned above £100k.

Then there’s the extra extra absurdity of losing all childcare entitlement (about £8k a year) once you earn £100k.

It’s an extremely ill thought out system.

I stand corrected.

I'm negotiating a deferred bonus with my employer currently to try and avoid losing the childcare hours - it's absolutely nonsensical.

 

[beak]

Don’t worry, I work in tax 😎

I'm happy to pay it but like a legal dodge.

 

[DanH]

I stand corrected.

I'm negotiating a deferred bonus with my employer currently to try and avoid losing the childcare hours - it's absolutely nonsensical.

Yeah it’s crazy. Either do that or whack it straight into your pension.

I’ve had a mate drop down to a 4 day week and sacrifice 20% pay just to qualify for childcare (and have to shell out for a day’s less).

Absolute bonkers system.

 

[DanH]

Get the next round in then.

Anytime, gorgeous 😘

 

[Stirlingsays]

Anytime, gorgeous 😘

You really know how to make a girl blush.

 

[Spindle]

It's not just the billionaire aspect. It's how lower Middle Britain gets f***** to.

I run a small business - employ 4 people.

So to take out £50k (and keep to basic rates) this happens.

Company
Profit before drawings - £60k
Salary - £12.5k (tax deductible - comes off the profit)
Net Profit - £47.5k
Tax due - £9k


Personal
Salary -£12.5k
Dividends -£37.5k
Total income -£50k
Tax due -£3.2k
Take home pay -£46.8k

So my combined tax bill for "earning" £60k is £12.2k and my take home is £47.8k

Someone earning £60k employed can expect to pay £11.4k tax and £3.2k NI and take home £45.4k

So I get all the shite of running my own business for an extra £2.5k.

But what happens if I want to boost my profits and earn another £10k profit in the company I take out as a dividend. If I make over £50k of profit, then my Corporation Tax is 26.5% (Marginal Rate) up to £250,000

Out of that I will lose - 26.5% Corp Tax (Marginal Rate as I'm now above the £50k small profits)
Dividend tax - 34%

so 59.5% of the extra goes to the tax man,

Get £10k as a bonus employed

40% tax
2% National Insurance
42% goes to the tax man.

So where exactly is the incentive to run a business. I get no paternity leave, sick pay. Employees (who I pay well and look after) are about to get more rights from day 1. This won't f*** the big employers, it will f*** us smaller ones.

This is where the Government plain does not understand - small business and big business are not the same.

Sure, you aren't a billionaire though. But I imagine you may well be in that top 10% paying tax, and far more than patriots like Richard Branson

 

[Spindle]

Let's not get facts in the way of a good rant.

Reeves inherited massive govt debt that has doubled in the last decade, only some of which is due to covid.

Clearly it's not going down since, but to put the blame on her is simply deluded.


In 2005 the UK National Debt was less that £0.5 trillion. But then came the worldwide financial crisis of 2008 and subsequent recession. The National Debt increased rapidly and went over £1 trillion in 2011 and over £1.5 trillion in 2016. With COVID, debt exceeded £2 trillion in 2021. At the end of March 2025 the National Debt was £2.81 trillion.

In terms of Gross Domestic Product the UK National Debt in 2005 was about 38 percent of GDP.

But in the last ten years, in the wake of the Crash of 2008 and subsequent recession, the National Debt doubled to over 80 percent GDP, and exceeded 100 percent of GDP after COVID. At the end of March 2025 the National Debt was 97.7 percent of GDP.

Yet somehow the super rich who must be protected gained this sum of money, but heaven forbid paying some back when you can blame Rachel Reeves.

700m of debt AFTER bailing out those f***ing banks. Then, Cameron and Osbourne began the beginning of the end.

 

[Spindle]

Over my lifetime the average person is better off although many would dispute that. The number of benefits and people on benefits has vastly increased in that time period.

The definition of poor has expanded from say the 1960's to today, where someone is poor even if they have a mobile phone and 2 week foreign holiday.

However I think we are heading for a major fall. Politicians and the public don't want to consider the possibility that the good times are coming to an end.

One of the stats not been quoted is job vacancies. In the last 3 years the BBC has reported the number of vacancies has dropped every month.

We have a huge amount of debt and taxation at record levels. At some point we will have to make cuts, where and by how much is up to Parliament to sort out. However my point is that people may have to get use to not doing as well as they have in the past.

The baby boomer generation may well be the peak.

And I've just been made redundant, so great timing.....

 

[Spindle]

Where are you getting that from? 65k isn't much.

Not in the City, but I'm afraid it is. You tried looking at jobs? I'm looking now, can't find things on my previous pay.

 

[cryrst]

It's not just the billionaire aspect. It's how lower Middle Britain gets f***** to.

I run a small business - employ 4 people.

So to take out £50k (and keep to basic rates) this happens.

Company
Profit before drawings - £60k
Salary - £12.5k (tax deductible - comes off the profit)
Net Profit - £47.5k
Tax due - £9k


Personal
Salary -£12.5k
Dividends -£37.5k
Total income -£50k
Tax due -£3.2k
Take home pay -£46.8k

So my combined tax bill for "earning" £60k is £12.2k and my take home is £47.8k

Someone earning £60k employed can expect to pay £11.4k tax and £3.2k NI and take home £45.4k

So I get all the shite of running my own business for an extra £2.5k.

But what happens if I want to boost my profits and earn another £10k profit in the company I take out as a dividend. If I make over £50k of profit, then my Corporation Tax is 26.5% (Marginal Rate) up to £250,000

Out of that I will lose - 26.5% Corp Tax (Marginal Rate as I'm now above the £50k small profits)
Dividend tax - 34%

so 59.5% of the extra goes to the tax man,

Get £10k as a bonus employed

40% tax
2% National Insurance
42% goes to the tax man.

So where exactly is the incentive to run a business. I get no paternity leave, sick pay. Employees (who I pay well and look after) are about to get more rights from day 1. This won't f*** the big employers, it will f*** us smaller ones.

This is where the Government plain does not understand - small business and big business are not the same.

So when you write ‘f***ed too’ you mean the billionaires will pay a lot more tax just to help the thread and those who think they don’t!