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[Sir_Crocodile]

if one of the parties pledged to ensure more amiibo stock for the uk that'd be a real vote winner for me

 

[Yen]

Vote for patrimonial capitalism.

 

[Uzzy]

It must be hard when you are in power to not do that because everyone knows what you are about from the last 5 years so you have to just try to say how that would be better than the other guy.

Well sure, but I have to wonder how effective it really is. Especially when the Tory press were recently banging on about how Ed dated several attractive, successful and intelligent women. Hard to see how that'll damage Ed's image amongst voters.

Leaked Conservative strategy doc sent last week to all candidates. PM mentioned 10 times, Miliband 99, Salmond 8

So, so depressing. I hope that the manifesto launch coincides with some actual positive messages from the Tories, if only to raise the tone of the campaign.

 

[Visualante2]

if one of the parties pledged to ensure more amiibo stock for the uk that'd be a real vote winner for me

I'll rename the M25 the Meta Knight Expressway and I will spend the rest of this afternoon patiently listening to your Amiibo anecdotes.

 

[Humidex]

I hope that the manifesto launch coincides with some actual positive messages from the Tories, if only to raise the tone of the campaign.

You're not going to get that with Crosby around, to be honest....

 

[Miles Quaritch]

Well sure, but I have to wonder how effective it really is. Especially when the Tory press were recently banging on about how Ed dated several attractive, successful and intelligent women. Hard to see how that'll damage Ed's image amongst voters.

Harkens back to a time when promiscuity was seen as a bad thing and could potentially draw in the grey vote even more?

I expect it also resonates with the more religiously devote?

 

[Visualante2]

Throw shit against wall see what sticks really, with the personal attacks. They'll have something else next week. Maybe he was once fired from a job when he was a teenager!

 

[PJV3]

Throw shit against wall see what sticks really, with the personal attacks. They'll have something else next week. Maybe he was once fired from a job when he was a teenager!

There are rumours he has masturbated occasionally as a teenager.

 

[tomtom94]

Vote for patrimonial capitalism.

Are there any taxes which the Conservatives still want? At the moment apart from VAT I'm drawing a blank.

 

[JonathanEx]

There are rumours he has masturbated occasionally as a teenager.

What a wanker.

Are there any taxes which the Conservatives still want? At the moment apart from VAT I'm drawing a blank.

Bedroom?

 

[Colin.]

if one of the parties pledged to ensure more amiibo stock for the uk that'd be a real vote winner for me

Some Gamecube controller adapter stock would be a real winner as well I reckon. I had to give up, and get one of the Mayflash ones recently.

There are rumours he has masturbated occasionally as a teenager.

Scum.

 

[killer_clank]

that inheritance tax pledge is pure core vote strategy. might win back some ukip voters, that's about it.

 

[CyclopsRock]

that inheritance tax pledge is pure core vote strategy. might win back some ukip voters, that's about it.

Ukip bleeding votes to the Tories are the reason why they're doing well in today's polls.

 

[Deleted member 231381]

that inheritance tax pledge is pure core vote strategy. might win back some ukip voters, that's about it.

Won't win back many UKIP, may even push some away. UKIP is mostly C2DE workers, they're not affected by the inheritance tax either way.

 

[killer_clank]

Won't win back many UKIP, may even push some away. UKIP is mostly C2DE workers, they're not affected by the inheritance tax either way.

I'm sure I saw some analysis that UKIP's C2DE voters were shifting back to Labour faster than their ABC1 voters were going Tory. UKIP are a mixture of both I'd say, the C2DE support is a newer thing.

 

[benjipwns]

The NI Conservatives election material will make any DUP-Tory pact fun:

I like their hats, this ad is not working as intended.

 

[Jezbollah]

I like their hats, this ad is not working as intended.

Pretty much like the rest of their campaign.

 

[Humidex]

It's all part of our balanced plan

Unfortunately George, you'll have to try harder to explain how 8bn of extra funding for the NHS will be found.

 

[War Peaceman]

Unfortunately George, you'll have to try harder to explain how 8bn of extra funding for the NHS will be found.

In some ways I don't really mind that these sorts of things aren't explained, because any explanation would be somewhat hypothetical. However, the incumbent party should be better placed than the opposition to assess these costs.

 

[tomtom94]

Chancellor George Osborne has said Conservative plans to remove family homes worth up to £1m from inheritance tax "supports the basic human instinct to provide for your children".

Do most parents give their children homes worth a million pounds?

In all seriousness I'm genuinely curious to know what GAF thinks of inheritance tax. I'm personally of the opinion it's slightly misguided if the intention is for it to be a progressive tax (seeing as homeownership is a pretty good asset when it comes to social mobility) but I do think it's a good little moneymaker, especially at the top end, and I'd certainly be more in favour of it than not.

 

[industrian]

In all seriousness I'm genuinely curious to know what GAF thinks of inheritance tax.

"Your estate will owe tax at 40% on anything above the £325,000 inheritance tax threshold when you die (or 36% if you leave at least 10% to a charity). "

Seems ok to me. But then again I don't live in London, where a cardboard box on a decent street is worth £100,000.

 

[Humidex]

But then again I don't live in London, where a cardboard box on a decent street is worth £100,000.

This one's got a bit of long term potential. Easy access to shops!

 

[Cyd0nia]

Do most parents give their children homes worth a million pounds?

In all seriousness I'm genuinely curious to know what GAF thinks of inheritance tax. I'm personally of the opinion it's slightly misguided if the intention is for it to be a progressive tax (seeing as homeownership is a pretty good asset when it comes to social mobility) but I do think it's a good little moneymaker, especially at the top end, and I'd certainly be more in favour of it than not.

Property and assets should be bequeath-able to relatives and loved ones IMO, for family whats yours is mine and mine is yours -- however, some assets (property and shares) are so valuable, the moment they are sold for profit, it is as though that property has exchanged hands twice with only one levy being paid. We need leaders among the rich elite that can preach the message that actually they're quite fortunate, a lot more fortunate than 99% of the population, and that in all likelihood - their 'legacy' will be a rich family, whether they help lift the society they live in or not. The UK needs more Warren Buffets.

 

[War Peaceman]

"Your estate will owe tax at 40% on anything above the £325,000 inheritance tax threshold when you die (or 36% if you leave at least 10% to a charity). "

Seems ok to me. But then again I don't live in London, where a cardboard box on a decent street is worth £100,000.

Solid Snake should retire to London.

 

[PJV3]

"Your estate will owe tax at 40% on anything above the £325,000 inheritance tax threshold when you die (or 36% if you leave at least 10% to a charity). "

Seems ok to me. But then again I don't live in London, where a cardboard box on a decent street is worth £100,000.

Cardboard box? Luxury, bloody luxury.
When I moved to London I could only afford a disused manhole. Bloody middle class and their cardboard boxes.

 

[Visualante2]

I tell my parents that they can probably expect to sell their house to pay for social care. I don't expect to get shit from them. I would love to be pleasantly surprised but I'm not holding my breath.

 

[kmag]

To put this inheritance tax move in context, it'll affect less than 22,000 families a year. Far far better ways to spend £1 billion a year.

It's a move to pander to the base and to attempt to win some kippers back.

 

[War Peaceman]

...and those 22000 families are not in need of assistance.

It is a bribe to the well off.

 

[industrian]

I tell my parents that they can probably expect to sell their house to pay for social care. I don't expect to get shit from them. I would love to be pleasantly surprised but I'm not holding my breath.

My parents are at that age when they had "the talk" with me.

And by that I mean I'm white and lower-middle class so the talk was basically about what I'm going to get when they die. They paid off their mortgage in 2013 and then they retired. As they're both from Glasgow and have lived Glaswegian lifestyles I'm surprised they've made it as long as they have (they're giving me and my decrepit circulatory system hope!), but it's made me think about generational wealth accumulation a lot more. Or in more basic terms how I will be able to save £150,000-250,000 and not need to plunge myself neck deep in debt in order to get a house to start my own family.

That and I doubt my parents have enough assets to cross that inheritance tax threshold.

 

[Jezbollah]

...and those 22000 families are not in need of assistance.

It is a bribe to the well off.

Hmmm. Sort of. I know a few friends who have had to pay inheritance tax for sales of deceased relatives homes and I wouldn't call them well off.

I think the promise to freeze above inflation train fares over the next five years is a bigger seller though,

 

[War Peaceman]

Hmmm. Sort of. I know a few friends who have had to pay inheritance tax for sales of deceased relatives homes and I wouldn't call them well off.

I think the promise to freeze above inflation train fares over the next five years is a bigger seller though,

For sure. But really we should just renationalise our rails until we have a rail infrastructure that allows for proper competition across the country. That would be genuinely popular and in a diverse set of regions.

 

[Goodlife]

...and those 22000 families are not in need of assistance.

It is a bribe to the well off.

I shouldn't be torn on Inheritance Tax, but I am a bit.

And for a very very selfish reason as well.... it'll effect me.

My parents were / are both very hard working. My mother was a teacher for 30 odd years, my dad owned his own business (pharmacy). They paid a fuckload of tax throughout their working lives.... the amount of tax my dad paid when he sold his business was probably more than I've put into the tax system since I started working 15 years ago. They've never begrudged paying tax, they were both happy to. They also helped out the community a lot, my dad ran after school classes and my mother ran the brownies in the village for a number of years. Now they are retired my dad spends 3 days a week volunteering for various things and my mum still tutors kids for a minimal fee.

They've paid tax on all the assets they have bought and sold, they're still paying income tax now on various incomes.

And they are now in a position where they are well off and are getting to the stage where they are planning for death.
They both feel, given all they have given during their lives, that 40% is just an unfair amount to take from their estate when they die. They really want to give as much as they can to their kids to make sure we don't struggle when they are gone (which I can understand).

So I dunno. £325k just seems like a very low figure to me in today's age. I don't see my parents as particularly rich.

But, having said all that, both us and them are very very very lucky people. Some of the situations people are in in the UK is shocking and we need to spend more money on them. And that's without even thinking about the situations of the people in third world countries.

 

[War Peaceman]

So I dunno. £325k just seems like a very low figure to me in today's age. I don't see my parents as particularly rich.

But, having said all that, both us and them are very very very lucky people. Some of the situations people are in in the UK is shocking and we need to spend more money on them. And that's without even thinking about the situations of the people in third world countries.

£325k is a lot of money.

Nobody chooses the family that they are born into. You were lucky but most weren't. The state should be doing everything it can through NHS/education/infrastructure to ensure that everyone can prosper regardless of their family conditions. Wealthier people shouldn't be able to hoard their assets. Social mobility is one of the biggest issues facing the UK and it just isn't taken seriously enough (Inheritance tax is a tiny part of dealing with that problem obviously).

I'm sure that there will be some people hit a little unfairly but oh well. People in genuine need are frequently punished and ignored - see welfare under New Labour and the coalition.

 

[Jill Sandwich]

Cardboard box? Luxury, bloody luxury.
When I moved to London I could only afford a disused manhole. Bloody middle class and their cardboard boxes.

Lucky bastard, I had to share some space under a hedge with 5 others!

 

[Goodlife]

£325k is a lot of money.

Nobody chooses the family that they are born into. You were lucky but most weren't. The state should be doing everything it can through NHS/education/infrastructure to ensure that everyone can prosper regardless of their family conditions. Wealthier people shouldn't be able to hoard their assets. Social mobility is one of the biggest issues facing the UK and it just isn't taken seriously enough (Inheritance tax is a tiny part of dealing with that problem obviously).

I'm sure that there will be some people hit a little unfairly but oh well. People in genuine need are frequently punished and ignored - see welfare under New Labour and the coalition.

Yep, I agree with everything you said there.
I'm happy to admit I'm only torn on the issue because I'm being selfish.

 

[CyclopsRock]

I flip flop a lot on this issue but where I currently stand is that the person receiving the money hasn't done anything to earn it. This doesn't automatically make it the property of the state but if we take the position that taxing something disincentivises it, there are worse things to tax than death.

Ultimately this would all be less of an issue if house prices were slightly normal.

 

[War Peaceman]

I flip flop a lot on this issue but where I currently stand is that the person receiving the money hasn't done anything to earn it. This doesn't automatically make it the property of the state but if we take the position that taxing something disincentivises it, there are worse things to tax than death.

Ultimately this would all be less of an issue if house prices were slightly normal.

Absolutely. It punishes those in London/SE disproportionately.

On the other hand they tend to have it better in general so, again, not the worst outcome albeit by accident.

 

[kmag]

I flip flop a lot on this issue but where I currently stand is that the person receiving the money hasn't done anything to earn it. This doesn't automatically make it the property of the state but if we take the position that taxing something disincentivises it, there are worse things to tax than death.

Ultimately this would all be less of an issue if house prices were slightly normal.

According to the IFS, the Tories Inheritance Tax policy would push up house prices.

Anything that does something like this that increases the tax privilege associated with an asset like housing will drive the price up in the long run.

 

[CyclopsRock]

http://lordashcroftpolls.com/2015/0...ail&utm_term=0_b70c7aec0a-4b93facb0b-71621757

Parties can’t change in four weeks what they’ve failed to change in five years
Friday, 10 April, 2015 in Elections

By Lord Ashcroft

My most recent constituency polling has found an increase in support for Labour and the Conservatives – and, in their own battlegrounds, the Liberal Democrats – while the UKIP share has drifted down since last year. Even so, neither of the main parties has established a clear overall lead, either in national polling or in the marginals. So while the evidence is that voters may be focusing more on the parties capable of forming a government, they are not finding the choice becoming any easier or more palatable.

The latest large-scale national polling I have conducted on the impact of the campaign helps explain why. Over the last month, most party ratings on most attributes have ticked up a couple of points. But the change is not significant and the overall picture remains as it has been throughout the parliament: the Conservatives lead on willingness to take tough decisions for the long term, competence, and (by a much slenderer margin) clarity and reliability.

Attributes

Attributes2

Labour remain ahead when it comes to values, motivation, standing for fairness and being on the side of ordinary voters.

Worth a read I think

 

[Lucius86]

£325k is a lot of money.

Nobody chooses the family that they are born into. You were lucky but most weren't. The state should be doing everything it can through NHS/education/infrastructure to ensure that everyone can prosper regardless of their family conditions. Wealthier people shouldn't be able to hoard their assets. Social mobility is one of the biggest issues facing the UK and it just isn't taken seriously enough (Inheritance tax is a tiny part of dealing with that problem obviously).

I'm sure that there will be some people hit a little unfairly but oh well. People in genuine need are frequently punished and ignored - see welfare under New Labour and the coalition.

As someone who will be strongly affected by the new policy put forward by the Conservatives (for the better), thanks for putting this point across. I never thought of it like that before, and admit your reasoning is completely logical.

However, I still fundamentally disagree with it, but that is likely down to my admittedly selfish situation. I believe the £375,000 limit is too low (in the south east at least) and a lot of first time buyers rely on inheritance for their first home's deposit. When split across siblings, inheritance does not go far - taxing assets owned within the family, after taxes have already been paid to get said property, seems unfair. But then I was born into a middle class family - I have had a better starting point in life compared to many others.

Around the £600,000 mark seems way more a reasonable value to be exempt from inheritance tax.

It's definitely made me think!

 

[CyclopsRock]

IMO the limit should be per recipient rather than as a whole estate. They'd need to be tight on the regulation to stop it just being temporarily given to others for the sake of the will. But I'm sure it's possible.

 

[pulsemyne]

Wow at Osbornes car crash interview this morning. Andrew Marr actually took it too him.

https://www.youtube.com/watch?v=7VbZ_khbkFs

Yes I know it's a labour supporting uploader but it's the only one I could find.

 

[Deleted member 231381]

IMO the limit should be per recipient rather than as a whole estate. They'd need to be tight on the regulation to stop it just being temporarily given to others for the sake of the will. But I'm sure it's possible.

If they could do it, I also think this is the way to go. Treat it as income or capital gains.

 

[StealthGoblin]

What if there is a property that has been in the families hands for generations or a family business? If the situation switched over to an amount per individual, that individual may not be able to keep that property or business going.

I don't know how the system works, so genuine question.

 

[kmag]

IFS on the the Tory IHT policy. In short, it's a pretty cack handed way of dealing with the 'issue'. A simple increase to the threshold would make far more sense.

The vast majority of estates (over 90%) are not liable to IHT at the moment and therefore would not benefit. The Conservatives estimate that their policy would be a giveaway of about £1 billion. With around 50,000 estates forecast to pay IHT over the next few years this gives an average (mean) gain per IHT paying estate of around £20,000. The maximum reduction in IHT on a couple’s estate is £140,000 which will go to married couples with estates worth between £1 million and £2 million. Since the children of those with very large estates are disproportionately towards the top of the income distribution the gains from this (and in fact any) IHT cut will also go disproportionately to those towards the top of the income distribution.
Many features of the policy are similar to one analysed in a Treasury document that was leaked to, and published by, the Guardian last month. This estimates that, based on Budget 2014 forecasts, the policy would reduce the proportion of estates liable for IHT from 8% in 2015–16 to just over 6% by the end of the parliament, rather than see it rise to just over 10% under current policy.
As this HMT document argues (para 16, page 9) “there are not strong economic arguments for introducing an inheritance tax exemption specifically related to main residences”. The document lists a number of problems with the policy for example the fact that it would encourage investment in owner-occupied housing rather than other more productive investments and discourage downsizing late in life when that might otherwise be appropriate.
The Conservatives’ proposal would further complicate the IHT system. The Figure below shows the marginal rate of IHT faced by an individual with a home worth £175,000 by the size of their total estate, before and after the change (assuming their estate is to be bequeathed to a child or grandchild). The new effective IHT rate of 60% that kicks in at £2 million is due to the tapering back of the new allowance. Why the IHT rate should go 0%, 40%, 60% and the return to 40% is difficult to justify. A preferable policy would have been simply to increase the existing threshold from £325,000, whereas under current policy it is set to be frozen at this level (which is the level it was at in 2009–10) through to 2017–18.

 

[industrian]

What if there is a property that has been in the families hands for generations or a family business? If the situation switched over to an amount per individual, that individual may not be able to keep that property or business going.

I don't know how the system works, so genuine question.

I'm no legal expert, but I imagine that like with any tax it's easy to work the system.

Unless the government are going to do everything in their power to mess with you, I imagine that you could easily just move money around in bank accounts to different people, set up a trust to manage your properties, etc. If you're rich enough you'll find a way.

 

[JonathanEx]

http://lordashcroftpolls.com/2015/0...ail&utm_term=0_b70c7aec0a-4b93facb0b-71621757



Worth a read I think

This was a really interesting piece - not much to add but yeah, well worth a read.

 

[Par Score]

Inheritance Tax is one of the very few taxes on wealth that we have, and is therefore a very good thing in principle. Redistribution of income can never fully tackle inequality, because of centuries and centuries of accumulated wealth, so having taxes on that wealth is essential.

Our current scheme of Inheritance Tax could be improved by introducing a scale similar to Income Tax, but with much higher bands and rates, starting at around 20% on anything above £250k and ramping towards ~100% at a few £million. All index linked of course.

People born into staggeringly rich families get an insane array of truly stunning advantages as it is, without also getting to look forward to a huge lump sum in their middle age. We're talking about a tax that will only ever hit the top ~10%, which mostly hits fixed assets that can't be moved off-shore, it should be an absolute slam-dunk.

 

[kitch9]

Do most parents give their children homes worth a million pounds?

In all seriousness I'm genuinely curious to know what GAF thinks of inheritance tax. I'm personally of the opinion it's slightly misguided if the intention is for it to be a progressive tax (seeing as homeownership is a pretty good asset when it comes to social mobility) but I do think it's a good little moneymaker, especially at the top end, and I'd certainly be more in favour of it than not.

The only people who I want to work my bollocks off for to ensure they don't struggle when I die is my kids.

 

[industrian]

Our current scheme of Inheritance Tax could be improved by introducing a scale similar to Income Tax, but with much higher bands and rates, starting at around 20% on anything above £250k and ramping towards ~100% at a few £million. All index linked of course.

The lowest threshold for Inheritance Tax should be £500k. £250k is basically anyone who owns any kind of property in a city or semi-prosperous area. And 100% tax rates? :lol, good one mate. Nice joke.