> Don't you pay something like 60% taxes for this?
Noone pays 60% tax, the UK taxation is at a similar level to the US for most people, they will pay between a 20% and 30% effective rate although there are progressive bands.
Noone pays 60% tax, the UK taxation is at a similar level to the US for most people, they will pay between a 20% and 30% effective rate although there are progressive bands.
To be fair folks in the US also have to pay for college, but to give an example of the typical situation in the UK: £55,000 loan on a 7.3% interest rate (it was going to be 12% but the government decided to reduce it https://www.bbc.co.uk/news/education-61765891) in a country where the average income is £31,722 per year
It’s a very sad situation. The conservative government have been running Britain into the ground since they took power after 10 years of very good governance by labour (reduced NHS waiting times, good economic growth, ability to deliver infrastructure projects in time and on budget, reduced crime, reduced child poverty, etc etc.) that was soured by the financial crisis. Then the conservatives grabbed power and shoved the country into reverse, doubling the national debt in the first four years through “austerity” policies designed to reduce spending that instead caused a double dip recession and negated any savings through reduced tax receipts. Then poverty and crime rose while the economy tanked and the social safety net and police and health services were gutted (my local area lost 1/4 of its police officers, for example). And all of that had to be blamed on Eastern European immigrants and Europe so we had Brexit.
David Cameron has to go down as the worst prime minister in the history of Britain. He’s been a complete disaster on every front. The current clown is just a sick result of Cameron’s incompetence.
The voting majority is completely irrational, however one tries to rationalise their behaviour (it was a protest vote!)
I expect Tories to be voted in again next election.
Honestly I don't think they'll ever write Plan 2 loans off, these people will spend their entire life paying their 9% loan repayments, with no hope to ever pay off the total sums as they climb by 5% a year.
Then add VAT at 20%, fuel duty (approximately 50% tax on the cost of fuel and the duty also has VAT added to it, so you’re taxed on the tax), vehicle excise duty, student loan repayments, council tax, National Insurance (which has just gone up by 25% as well) to that.
https://www.buzzacott.co.uk/insights/exposing-the-60-income-...
48,323/125,000 != 60%
The education systems really is bad that I have to point this out.
The same thing also happens at 50,000 where you lose your child benefit government handouts, but funnily enough its less discussed yet the comparable rate is 65%.