A massively broad topic to address. Despite Labour's recent gaffs and reducing support in the opinion polls, the Tories (which is now a social democrat party) were destroyed in yesterdays by-elections. Unfortunately we will almost certainly have a Labour government within twelve months and Labour will be calling the shots.

I believe Labour monetary attacks will centre on the motorist (as per Khan's additional taxes- ULEZ and almost certainly pay-per-mile along with increased fuel duty to further encourage the lemmings to buy EVs) along with unearned income/capital gains taxes.

Any government attempting to benefit the country (which excludes the traditional three UK parties) would recognise the wealth imbalance between the elder generations (over 55/60) and the younger ones (under 40). The former on average hold a considerable majority of the nations wealth while the latter are relying on earnings which with interest rates and inflation prevent them building wealth and security (own homes, pension savings etc)

The inheritance tax threshold is in real terms lower than it has been in living memory at £375k and £125k (family home allowance) per deceased person. Inheritance tax is an abhorrent tax in that it taxes wealth which has already been taxed in one form or another and deprives the younger generations of a meaningful share in their family's wealth! I would like to see the IHT threshold increased to £1m.

Sadly this is a wish not a prediction! It is also a wish to see Income tax and NI merged into a single tax. A second wish would be to reduce the outrageous marginal rate of tax of around 60% between £100k and £120K before it reverts back to 40%. I would also like to see an initial tax free earning allowance increase to 75% of average earnings, and increased tax above £200k per annum to 50% and even higher above £500k.

When uou keep on raising the tax free threshold you get more and more people who pay zero income and NICS. 40% of adults I think pay no income tax. Bottom 50% pay only 9%. Such people then keep on favouring ever higher pubic spending:

The problem is it’s too easy at least for some people to avoid income tax.

VAT is harder to avoid which is why governments like it.

I'm all for closing tax loopholes and it encourages them to spend more in the economy earlier.

As with VAT it is a regressive tax benefit if that makes sense.

Subject ALL income, including every type of benefit (and yes that does
include the state pension) to income tax. Massively reduce the number
of free motability cars handed out. This is one of the biggest scams ever
known.

Scrap employees NI and simply add it onto the tax rates. There cannot
be many people left who haven't realised that NI is a cuddly name for tax.

There would need to be a couple of limited bands at say 10% and 20%
before the new standard tax rate of 32% kicks in and this band could
extend further before the 40% band is reached.

Ordinary workers wont be any worse off because they no longer pay
employees NI.

Rename employers NI back to what it was before Mrs T renamed
selective employment tax as employers NI.

The big benefit is to claw back some of the eye-watering public service
pensions that have arisen thanks to NuLabs massive pay rises for GPs,
Consultants and head teachers back in the early noughties while still allowing
them to contribute a mere 6% (less tax relief) into their schemes. There are
now 6,000 retired NHS staff receiving pensions of 100K+. Plus an even bigger
army of Head teachers, GPs, Judges, MOD top brass, Civil servants etc.

By combining 'ees NI with basic rate tax, all these people will effectively
pay NI on their pensions.