This is probably not the last word on the Budget, as the row over National Insurance contributions paid by the self-employed gets into its stride.
However, for a definitive comment, we liked this one found on social media by estate agent James Wyatt, of Barton Wyatt, which operates in leafy Surrey including the Wentworth estate and Virginia Water.
“I’m self employed – hammered; Estate agent – SDLT hammered; Letting agent – totally hammered; Landlord – hammered.
“And I voted for them!!”
I heard PMTM on the TV saying that the rise in self employment is eroding tax revenues. Sorry to inform you of this, but the majority of people in recent years ended up in self-employment as a better alternative to unemployment. In many cases they will plough life savings into getting small businesses started in what is currently a relatively difficult climate. Many of these will fail with the loss of a lot of money and cumulation of a lot of debt. Some will succeed and grow…..producing many new jobs.
The PM should be taking her hat off to these people, not criticising the loss of a bit of tax revenue…..I guarantee the overall effect of these ‘entrepeurial risk takers’ on the economy will have been far better than them all depending and claiming from the state as unemployed.
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“Losing a bit of revenue as self employment rises”, well we don’t get sick pay, maternity/paternity pay, pension, holiday pay etc etc so I think it may balance out abit too.
However, I’m certain that hitting the self employed in this way will generate a drop in an ocean compared to what Apple, starbucks, amazon or Richard Branson and so many other super rich companies or people get away with.
Correct the tax payment for just one of these and ‘Hey Presto’ – money to spare. Crack down on them all and clear the debt!
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Couldn’t agree more. If the self employed collectively pooled together and set up an offshore company in a tax haven that charged them licensing fees to work under the ‘collective UK brand’….then syphoned off all profits that they could have been charged tax on into a fund for their own personal later use….there would be total uproar and clampdowns with poiliticians jumping up and down in the aisles of Westminster demanding action with prosecutions.
However if you are a big multi-national….
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If James is starting to squeak, think how the rest of the country are faring. 😉
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