Budget 2021. What 1 change would you make?

[KenL]

Abolish tuition fees on

Only problem with that is the rich then use expensive accountants to move their money into offshore tax avoidance schemes, leaving the lower brackets to foot the bill as usual

Ban moving money off shore.

 

[Deleted member 21784]

if people are really apprehensive, which I could understand as jobs are gonna go when the furlough bubble bursts. You could argue that lowering 2.5% would be wrong as it would be encouraging people to spend what they shouldn’t....

Also, unless you’re buying a big ticket item, it’s peanuts you’re saving, but millions that’s taken out of the economy.

It's proven before to boost spending money more comes in rather than people not spending

 

[Papas1982]

It's proven before to boost spending money more comes in rather than people not spending

yes, but your point a second ago was that people would be apprehensive to spend, and on this occasion they would Be right to be so.
do we want to trick peope into spending money as acts all it is, when t
here are likely massive redundancy/sackings around the corner?

 

[rudebhoy]

75% tax on the attendance allowance for the House of Lords.

 

[bobmac]

My change would be to abolish with immediate effect the road tax free status of all electric vehicles.

If the tax rate for ICE cars is dependent on engine size and CO2 emissions, how much tax should the electric vehicles pay?

 

[USER1999]

If the tax rate for ICE cars is dependent on engine size and CO2 emissions, how much tax should the electric vehicles pay?

Rate it on KwH?

 

[IanM]

Make Tax Avoidance illegal.

It is illegal.

 

[Ethan]

Put extra tax on chippers, white belts on golf trousers and iron head covers.

 

[GB72]

Go for the 'short, sharp shock approach'. Work out how much you would need to increase income tax to the middle and high rate bands to repay a good chunk of the covid debt over the next 5 years and apply that. Put in place cast iron laws to reduce it back to current levels when the debt reaches an agreed level.

Oh and move the end date for the stamp duty holiday. I really do not fancy having to deal with that in 3 weeks, especially when many transactions are held up due to delays in local authority searches caused by covid.

 

[ColchesterFC]

It is illegal.

Evasion is illegal. Avoidance isn't.

 

[Deleted member 25172]

Go for the 'short, sharp shock approach'. Work out how much you would need to increase income tax to the middle and high rate bands to repay a good chunk of the covid debt over the next 5 years and apply that. Put in place cast iron laws to reduce it back to current levels when the debt reaches an agreed level.

Oh and move the end date for the stamp duty holiday. I really do not fancy having to deal with that in 3 weeks, especially when many transactions are held up due to delays in local authority searches caused by covid.

This would be the one for me as well.

 

[IanM]

By Was using Avoidance as meaning same as Evasion... meaning mitigation is legal. I may have muddled the words!

 

[chrisd]

Double the state pension

 

[Deleted member 16999]

By Was using Avoidance as meaning same as Evasion... meaning mitigation is legal. I may have muddled the words!

Apology accepted.

 

[3offTheTee]

Reduce Overseas Aid further to Nil

 

[Lord Tyrion]

New tax for online retailers like Amazon to give the high street more of a level playing field.

^^^^^^

This plus somehow closing the loophole which allows major companies to be based and operate here, make major profits here but have a token head office in Geneva, Monaco, Luxembourg etc in order to avoid UK taxes.

(I know the OP said one idea but I'm hoping this colud be merged into one long sentence )

 

[doublebogey7]

Simplify the tax system in all area's, for example equilise tax rates for caital, income, and corporations thus avoiding insentives to move money from one to the other, and remove all tax allowances with the exception of the personnal allowance, pension contributions and genuine business expenses. Costs savings at HMRC could then be invested in more staff to work on tax evasion.

 

[Dando]

This would be the one for me as well.

not for me. I already pay 40% tax and don't wish to pay any more

 

[Doon frae Troon]

Follow the lead of the progressive countries and remove VAT from sanitary products.

 

[Liverbirdie]

Absolutely against that idea.

Last summer the country sold out of home jacuzzis and everyone ate out 3 times a week. When the shops are open people will go.
we have to raise funds, a massive increase to corporate tax needs to come in imo. Any company that used the furlough scheme should pay a massive hike on their profits for the next 3 years, or until their additional taxes exceed 50% of what was paid for them.

The problem with that is that most UK companies costs are go up considerably if they export/import at the moment due to Brexit, new customs procedures, lack of preference on certain products so if we go too high we will not be competitive. The pound has also improved against the Euro and dollar so making it even harder to be competitive.