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[News] £10,000 to every citizen under 55....





studio150

Well-known member
Jul 30, 2011
29,553
On the Border
Why the 55 age cut off, given that retirement ages are being pushed up. Should it not be open to anyone who is not receiving nor eligible to receive the state pension.

However, given the comment

Anyone receiving the "dividends" would not be able to claim any tax allowances, which the RSA says would act as a disincentive to wealthier earners wanting to apply for the handout.

does this effectively mean that if you are working, all you are doing is swapping the tax free allowance for this dividend, and are effectively worse off, given that the £10,000 is payable over two years, but you will have given up your tax allowance for two years, and therefore all your wages will be taxed.

Therefore it would seem, the dividend would only benefit those who are not working, and will not be working for 2 years.

If this is the case, the dividend would seem to be pointless.

I assume therefore that either I have totally misread the report, or the report is poorly worded.
 




crookie

Well-known member
Jun 14, 2013
3,305
Back in Sussex
I must have missed something. Where is, and what have we been using this Sovereign Wealth Fund for up to now ? Most oil rich countries have one, but I was under the impression we pi**ed our North Sea Oil revenue up the wall in the 80's and all we have now is a massive Sovereign Debt.
 


BensGrandad

New member
Jul 13, 2003
72,015
Haywards Heath
I have heard of some weird and wonderful ideas but this takes the biscuit. What justification can there be for granting it and anybody have for being given it.
 




Herr Tubthumper

Well-known member
NSC Patreon
Jul 11, 2003
59,198
The Fatherland
Why the 55 cut-off, we've paid a lifetime of taxes etc.,would be nice to get something back.

Free education? Cheap housing? Triple locked pensions?
 


Gazwag

5 millionth post poster
Mar 4, 2004
30,093
Bexhill-on-Sea
Why the 55 age cut off, given that retirement ages are being pushed up. Should it not be open to anyone who is not receiving nor eligible to receive the state pension.

However, given the comment

Anyone receiving the "dividends" would not be able to claim any tax allowances, which the RSA says would act as a disincentive to wealthier earners wanting to apply for the handout.

does this effectively mean that if you are working, all you are doing is swapping the tax free allowance for this dividend, and are effectively worse off, given that the £10,000 is payable over two years, but you will have given up your tax allowance for two years, and therefore all your wages will be taxed.

Therefore it would seem, the dividend would only benefit those who are not working, and will not be working for 2 years.

If this is the case, the dividend would seem to be pointless.

I assume therefore that either I have totally misread the report, or the report is poorly worded.

If you lost the personal allowance you would only be £2,300 a year worse off so a £2,700 net gain a year
 


vegster

Sanity Clause
May 5, 2008
27,867
I'd be using it to buy shares in Gregg's, Pringles and Poundland either that or buy in to a Domino's Pizza franchise....that's our nations future.
 






happypig

Staring at the rude boys
May 23, 2009
7,935
Eastbourne
If they bring this in before June, then I'm 100% in favour but if they bring it in after, I'm 100% opposed.

Oh and I would blow it on cocaine and hookers.
 














Hampster Gull

New member
Dec 22, 2010
13,462
An ongoing monlthy payment to all citizens of the U.K., regardless of age, income, occupation etc. Worth exploring this in depth
 



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