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Cap ISA contributions to £100k!
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MBA MBA
Posted: 25 September 2023 19:25:38(UTC)
#1

Joined: 16/12/2012(UTC)
Posts: 1,725
Proposal from richard Murphy…

https://www.taxresearch....o-100000-in-a-lifetime/

In short his argument is: have a lifetime allowance for ISA contributions. Why do people need an incentive to save! They don’t!!it will raise a staggering £100m (which assumes no behavioural change)

I would just over pay my mortgage, and take my child out of the bog standard state primary he’s at and go private; and just stop saving.
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Tim D
Posted: 25 September 2023 20:01:13(UTC)
#2

Joined: 07/06/2017(UTC)
Posts: 8,883
This is just one of Murphy's proposals. He seems to be collecting them at a new site https://taxingwealth.uk/ ( https://taxingwealth.uk/issues-to-look-at/ for a useful intro). So far there have been 12, as summarized at https://taxingwealth.uk/...tra-tax-revenue-a-year/ but I think there's another 12 or so to come.

Presumably all intended to feed into party conference season, or to at least be fodder for the policy defining period before the next GE.
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Taltunes
Posted: 25 September 2023 20:02:31(UTC)
#3

Joined: 15/08/2021(UTC)
Posts: 751
I’m in favour of a cap but even I think the order of magnitude of the proposed cap is too low and a more sensible figure would be of the order of £1m
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SSJ
Posted: 25 September 2023 20:17:54(UTC)
#4

Joined: 13/09/2010(UTC)
Posts: 512

Thanks: 1073 times
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There were 4 pages on this subject a while back :)
https://moneyforums.city...SA-limit-to-PS100k.aspx
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1 user thanked SSJ for this post.
Tim D on 26/09/2023(UTC)
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