METRO request: What is your one wish for the new Chancellor?

Journalist: Sarah Davidson, Freelance

ended 07. July 2022

Looking for all ideas from all areas of the economy for a feature to run in metro. 

If you had one wish for the next Chancellor, what would it be? 

No more than 100 words please. Include name, company, job title, location. Thoughts welcome from companies and individuals. Be as imaginative as you want.

Email sdavidsonwriting@outlook.com 

4 responses from the Newspage community

Taxes, Taxes, Taxes. Keep corporation tax at 19%, raise the minimum wage to £10.50, bring capital gains tax in line with income tax rates, cut VAT to 15% and, for god's sake, build more houses. Our economy desperately needs a shot in the arm now. Reducing the tax burden on people that work for their money and shifting it to those who simply own and sell assets would be the fairest way to rebalance taxation quickly. On top of that, we need housebuilders to ramp up construction to get more young people onto the property ladder and fast.
If I had one wish for the next Chancellor, it would be a significant cut to fuel duty. Inflation is being driven by high fuel prices and is putting up the cost of everything. We need to attack one of the root causes and that is the price of fuel. Many of my clients with small businesses are saying they are putting prices up directly caused by the cost of petrol and diesel.
Cut corporation tax and increase the individual personal allowance. Businesses have been squeezed with tax increased coming from all directions. This cut would allow them to invest more, increase wages and create more jobs. The cost of living is hitting individuals hard. An easy way to improve the situation is to leave more money in their pockets. A dramatic increase in the personal allowance to £17,500 would have an immediate major impact. This wouldn't effect the amount of tax taken too much as increasing wages have pushed many people into the higher rate threshold and this could be keep at the same limit.
Get serious about tax evasion, avoidance and closing down the various loopholes for U.K. based multinationals to avoid paying tax. If you are implementing the biggest tax grab in modern times , which hits primarily the pockets of small business and individuals you need to balance this out with going after those who don’t pay their fair share . It’s only fair after all .