I didnt say they shouldn't get married I chose not to to protect my assets two equal parters earning equally probably could get married.
This is a sad outlook. Your name isn't Ebenezer by any chance?
And how do you know what a partners income will be. Life is dynamic and work situations change/develop as does earning potential.
There are pros and cons to each not least inheritance tax issues.
I don't think a sole purpose to getting married would be for tax reasons. Although I have to admit I have advised a few clients to have a death bed marriage to mitigate tax, but that was a last ditch attempt to protect family wealth when circumstances took an unexpected turn or people had procrastinated over tax planning.
Likewise kids they are a choice you there is a strong link between parenting and child outcome the state should be encouraging the people likely to produce good offspring to have children and discouraging the others.
Okay, how do you determine who can produce good offspring/bad offspring?
For example, my wife and her brother grew up on a council estate. Whilst their parents have always been decent hardworking people, they were either old fashioned in their opinion of owning their own home or financially it was a stretch.
My wife achieved 10 GSCE a and a* grades. 4 a's at A level , has a Masters in BA and is a hard working, high earning Finance Director. Her brother has a PHD and has a successful career in the US.
Would they have fallen into your "no children" category ? And what if I was not on a comparable earning level to my wife? Should I have got a divorce?
And I know some very clever hard working parents who have produced utter imbeciles.
We need to reindustrialise Britain we need less mobile hair salons and nail bars and low paid service sector economy. We need more manufacturing and export jobs for people to do we need engineers and manufacturers. The post 80's deindustrialisation has been an abject failure leading us into the welfare Britain we are today.
Can't disagree with that. Too much money laundering filtering through many such establishments. But they are still a requirement, so how do you weed out the honest, hard workers?
Personally to ensure there is some element of safety net i would work on the primary focus of meritorcracy and reward work and treat harshly unearned income.
Having just said that you have spent your life sacrificing, it seems a bit odd that you then want to target yourself because you have forged a life of self sufficiency through good investment planning to generate decent unearned income.
I would wack up inheritance tax and do something to remove trusts as avoiding inheritance tax. Morally i don't have a higher limit for inheritance tax and that should include in full primary residence. I expect not a penny from my parents and feel its right that that i should not expect to pass a penny on tax free.
Easy to say when you have chosen not to have children and have no one to leave a legacy to.
But again, I find myself agreeing that too many people have a retirement plan that includes inheritance and I have always advised never to use that as a strategy and aim to provide for yourself.
Then for me its UBI possibly set at a low level possibly about state pension age then ditch all other benefits including state pension. Then if you want more you work and earn more.
Well, I have always maintained that the basic requirement should be roof over your head, food and warmth. Any benefit system that allows for luxuries is flawed.
I have always been a strong advocate for a voucher system that ensures just the living basics. I know of too may people that receive "help" that fritter it away on drugs, cigarettes and drink. One person is too many.
But implementation of any such systems would be frowned upon as taking away basic human rights and dignity. However, if you are getting what you need, I fail to see why it should matter how you receive help.
I would stop pensioners from avoiding NI on pension withdrawals by abolishing NI and moving it into income tax.
This is something that we are moving toward in the longer term, I think.
But again, I can't see why there shouldn't be NI or the like (NHS levy) on personal pension income.
I would remove all employer taxes on employment. So no employers NI.
How do you fund that £100 billion black hole that you have created?
Oh and remove the personal allowance.
Just not workable.
I would rather see personal allowances increased for lower earners to help stimulate spending in the economy and withdraw it sooner than just for those who earn in excess of £100k.
Other suggestions from me :-
Increase stamp tax on share transactions to 1% or 2% (£4 - £8 billion)
Follow through with the 5p on fuel duty (yes, I know we pay enough) but you can drive a matter of a few miles and see huge price differentials and people still queing at the pump. Coincide the rise with hopefully an end to these wars and the impact is absorbed/softened (£2 billion)
Hugely restrict or even abolish HR tax relief on pension contributions. Flat 20% for all (£5 billion)
Really random thought - charge a monthly levy of £1 p/m for all users of social media platforms. Would raise absolutely millions per month.
Phase in the PPM charge on electric cars say 3ppm to 5ppm (£1 rising to potentially £8 billion)
Increase the rate of VAT on purchase above a certain value/luxury goods and decrease it on lower value items - aim to target a net zero revenue adjustment, but instead just try to help stimulate spending in the economy.