UK election - higher taxes?
What will be the consequences of Labour winning on taxes? Also, will they start to tax carry differently?
What will be the consequences of Labour winning on taxes? Also, will they start to tax carry differently?
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Based on the most helpful WSO content, here are some insights on the potential consequences of higher taxes and changes in tax policy:
Higher Taxes and Economic Impact:
Taxing Carry Differently:
General Tax Policy Changes:
In summary, higher taxes and changes in the taxation of carried interest could have significant implications for consumer spending, business costs, and the financial industry. The exact impact would depend on the specifics of the tax policy changes implemented by a Labour government.
Sources: How will the results of the election affect Wall Street and the overall economy?, The insanity of the US tax code: Bad Laws and Predictable Consequences, You Talkin’ Bout Taxes? | The Daily Peel | 12/2/22
I thought labour have 'said' they won't increase income taxes or NIC. But let's be honest it's too high already
They're looking to get rid of carried interest tax loophole which is huge for the industry if it happens
They're going f**k us one way or the other. There seems to be an acceptance from the political/journo elite in this country that the UK is finished, there is no way to revive it and we should be happy accepting shittier living standards while also carrying an unreasonable tax burden
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