Income tax and NI distribution

REDEFinition

REDEFinition

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Been having a neb on my tax portal today and noticed how my income tax and NI are spent.

I know tax income is only part of the budget the government spends each year however if you were in charge how would you redistribute this?

Health (19.8%)
Welfare (19.6%)
National Debt Interest (12%)
State Pensions (10.3%)
Education (9.9%)
Business and Industry (7.6%)
Defence (5.2%)
Public Order and Safety (4.1%)
Transport (4.1%)
Government Administration (2%)
Housing and Utilities, like street lighting (1.7%)
Culture, like sports, libraries, museums (1.3%)
Environment (1.3%)
Outstanding payments to the EU (0.6%)
Overseas Aid (0.5%)

Would upping the defence budget create more jobs and have a positive impact on welfare?

Our spending on culture looks really low but perhaps these areas are more capable of serving themselves with tourism income for example.

I just think the welfare % looks really high.
 


Goat Eyes said:
I’d put it all on red.
Click to expand...
Ashley Revell was just 32 when he travelled from London to Las Vegas to gamble his life savings on red. Having sold off pretty much everything he owned he marched into the Plaza Hotel & Casino in Las Vegas with £76,840 ($135,300) burning a hole in his pocket and made his way to the roulette table.

Once there only one question remained: red or black?

Ashley later admitted that he'd been 'thinking about putting it on black' but since the viewers voted that he ought to bet on red he followed their lead.

 
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REDEFinition said:
Been having a neb on my tax portal today and noticed how my income tax and NI are spent.

I know tax income is only part of the budget the government spends each year however if you were in charge how would you redistribute this?

Health (19.8%)
Welfare (19.6%)
National Debt Interest (12%)
State Pensions (10.3%)
Education (9.9%)
Business and Industry (7.6%)
Defence (5.2%)
Public Order and Safety (4.1%)
Transport (4.1%)
Government Administration (2%)
Housing and Utilities, like street lighting (1.7%)
Culture, like sports, libraries, museums (1.3%)
Environment (1.3%)
Outstanding payments to the EU (0.6%)
Overseas Aid (0.5%)

Would upping the defence budget create more jobs and have a positive impact on welfare?

Our spending on culture looks really low but perhaps these areas are more capable of serving themselves with tourism income for example.

I just think the welfare % looks really high.
Click to expand...

It does look high but reducing it potentially wouldnt save money.

Desperate people do desperate things and don't live well.

Your NHS, public order and safety bills would all go up proportionally as welfare went down. Society would be worse. Plus some of that welfare spend will end up back into the tax system.

It's a tough one.

I think we will see increased defense spending soon.
 
REDEFinition said:
Been having a neb on my tax portal today and noticed how my income tax and NI are spent.

I know tax income is only part of the budget the government spends each year however if you were in charge how would you redistribute this?

Health (19.8%)
Welfare (19.6%)
National Debt Interest (12%)
State Pensions (10.3%)
Education (9.9%)
Business and Industry (7.6%)
Defence (5.2%)
Public Order and Safety (4.1%)
Transport (4.1%)
Government Administration (2%)
Housing and Utilities, like street lighting (1.7%)
Culture, like sports, libraries, museums (1.3%)
Environment (1.3%)
Outstanding payments to the EU (0.6%)
Overseas Aid (0.5%)

Would upping the defence budget create more jobs and have a positive impact on welfare?

Our spending on culture looks really low but perhaps these areas are more capable of serving themselves with tourism income for example.

I just think the welfare % looks really high.
Click to expand...
Isn’t most of the welfare spending on pensions? Not sure how it’s sustainable in the future as our population ages.
 
REDEFinition said:
Been having a neb on my tax portal today and noticed how my income tax and NI are spent.

I know tax income is only part of the budget the government spends each year however if you were in charge how would you redistribute this?

Health (19.8%)
Welfare (19.6%)
National Debt Interest (12%)
State Pensions (10.3%)
Education (9.9%)
Business and Industry (7.6%)
Defence (5.2%)
Public Order and Safety (4.1%)
Transport (4.1%)
Government Administration (2%)
Housing and Utilities, like street lighting (1.7%)
Culture, like sports, libraries, museums (1.3%)
Environment (1.3%)
Outstanding payments to the EU (0.6%)
Overseas Aid (0.5%)

Would upping the defence budget create more jobs and have a positive impact on welfare?

Our spending on culture looks really low but perhaps these areas are more capable of serving themselves with tourism income for example.

I just think the welfare % looks really high.
Click to expand...

Still paying to the EU? That will upset some people.
 
Select coaches said:
Isn’t most of the welfare spending on pensions? Not sure how it’s sustainable in the future as our population ages.
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It isn’t. I think it’ll be means tested by the time I’m old enough to collect.

I’m hoping the combined private pensions from the wife and me will be enough to see a few years of retirement when we’re in relatively good health but I’m not counting on the state.
 
Jabberwocky said:
It isn’t. I think it’ll be means tested by the time I’m old enough to collect.

I’m hoping the combined private pensions from the wife and me will be enough to see a few years of retirement when we’re in relatively good health but I’m not counting on the state.
Click to expand...
Some of the calculations when the population starts to decline are a bit scary. Supposedly goes pear shaped pretty quick once it turns.

Africa is predicted to have a population of 4bn by the turn of the century whereas china’s will have halfed.
 
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Jabberwocky said:
It isn’t. I think it’ll be means tested by the time I’m old enough to collect.

I’m hoping the combined private pensions from the wife and me will be enough to see a few years of retirement when we’re in relatively good health but I’m not counting on the state.
Click to expand...
State pensions has its own entry in the list.
 
Select coaches said:
Some of the calculations when the population starts to decline are a bit scary. Supposedly goes pear shaped pretty quick once it turns.

Africa is predicted to have a population of 4bn by the turn of the century whereas china’s will have halfed.
Click to expand...
Will solve climate change if there's nee one to ruin the planet left
 
Jabberwocky said:
It isn’t. I think it’ll be means tested by the time I’m old enough to collect.

I’m hoping the combined private pensions from the wife and me will be enough to see a few years of retirement when we’re in relatively good health but I’m not counting on the state.
Click to expand...
If it's means tested so those with a small private pension are penalised it'll be the end of the pension industry.
 
Depends what's covered by the label "welfare".

Interesting that "national debt interest" is so high up. They should have introduced some austerity measures years ago now and got a grip on that shit.
 
Jabberwocky said:
It isn’t. I think it’ll be means tested by the time I’m old enough to collect.

I’m hoping the combined private pensions from the wife and me will be enough to see a few years of retirement when we’re in relatively good health but I’m not counting on the state.
Click to expand...

By means testing state pension, you're then disincentivising putting into a pension and the whole thing becomes counter productive. For any means testing to work, the bar needs to be set very high so it's only those who are well off enough not to miss it.

Or they might do something radical, saying those born after x date won't get a state pension, instead they'll be given a lump sum at birth which is then invested into a pension & allowed to grow for 60 odd years
 
The key is to have more money in the pot to start with, only achievable with a stronger economy. We need to start exporting far more products and services to bring money from other countries into ours.
 
REDEFinition said:
Been having a neb on my tax portal today and noticed how my income tax and NI are spent.

I know tax income is only part of the budget the government spends each year however if you were in charge how would you redistribute this?

Health (19.8%)
Welfare (19.6%)
National Debt Interest (12%)
State Pensions (10.3%)
Education (9.9%)
Business and Industry (7.6%)
Defence (5.2%)
Public Order and Safety (4.1%)
Transport (4.1%)
Government Administration (2%)
Housing and Utilities, like street lighting (1.7%)
Culture, like sports, libraries, museums (1.3%)
Environment (1.3%)
Outstanding payments to the EU (0.6%)
Overseas Aid (0.5%)

Would upping the defence budget create more jobs and have a positive impact on welfare?

Our spending on culture looks really low but perhaps these areas are more capable of serving themselves with tourism income for example.

I just think the welfare % looks really high.
Click to expand...
What do you do if you cut welfare? The costs of dealing with the results will be borne elsewhere, probably multiplied. Culture spending is low because of Barbarians. Correlating defence spending and welfare improvements is quite an unusual link up. Defence budget is massive in relation to the day to day issues people face. What budget does Michelle Mobe's money come out of? What budget does Michelle Donelan's libel money come out of?
 
Select coaches said:
Some of the calculations when the population starts to decline are a bit scary. Supposedly goes pear shaped pretty quick once it turns.

Africa is predicted to have a population of 4bn by the turn of the century whereas china’s will have halfed.
Click to expand...
All them lads and lasses and non bines in Rwanda will be brought back at a schtaggering cost shurely (hic!)
 

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