1. Your treating profits from taking risks and/or having an idea, as the same as someone earning money from their time in their vocation whether the latter be a city analyst or a nurse. Even Labour politicians over the decades have never merged the two different concepts.
2. Business owners receive no sick pay, no non-state redundancy pay, no holiday pay, have no employment rights, no guarantee of there being work next week, no pension contributions other than from what’s in effect their money already (not from their unconnected employers). This quid pro quo from all governments is that lower tax is paid, should be they be lucky enough to make a profit.
But the gap was closed, you’d be surprised to know by Osborne, who created dividend tax rates of 7.5%, 32.5% and 38.1%. McDonnell’s attack is largely on tiny limited company owners earning up to £50,000. Taxing them in increased corp and personal tax with an overnight bill of almost £5k per annum.
These aren’t the wealthy we’ve heard your mates at Momentum talk about for 4 years.
3. This also hits heavily 1.9 million old folk who happened to have bought some listed company shares in their lifetime, to supplement their pensions.
Last edited:
