Mum with £120k fears Labour tax rises and thinks there’s ‘no point in working’
A mother of two on a salary of £120,000 has expressed her fears about Labour’s tax rises, believing it is “hardworking people who will be hit the hardest”.
In a major speech today, the Prime Minister laid the groundwork for large-scale tax raids on millions of households.
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Sir Keir Starmer warned that Britons must endure “short-term pain” for the “long-term benefit” of the economy, after arguing that “things are worse than we ever thought.”
Sir Keir said: “There is a Budget coming in October and it will be painful.
“Given the situation we find ourselves in, we have no other choice.
“Those with the broadest shoulders should bear the heaviest burden, and that is why we take strict action against non-dominant individuals.”
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The Prime Minister criticised the Conservatives for causing serious damage to the economy and pledged to tackle the “decay” of public services and growth.
He promised to plug a £22 billion hole in the public finances by creating an economy that ‘works for everyone’.
Sir Keir stressed that creating wealth is his government’s “number one priority”.
But one parent took to an online forum Mothernet and shared her ‘pain’ over the political move.
The mother, who wishes to remain anonymous, wrote in her message: “The October budget is going to be painful.”
The mother continued: “Here we go… I knew it.
“Labour promised not to raise taxes during the election campaign and here we are… apparently in his first weeks in office they have discovered a £22 billion black hole and it is not his fault.
“Let me guess, those of us making six-figure salaries and already paying 45 percent will pay EVEN more and keep even less.
“It’s the hardworking people who are getting hit. What’s the point of working anymore!”
Those with the broadest shoulders should bear the heaviest burden, and that’s why we’re cracking down on non-doms
Lord Keir Starmer
Currently in the UK you pay no tax if you earn up to £12,570. If you earn between £12,571 and £50,270 this rises to 20 per cent and if you earn between £50,271 and £125,140 the rate is 40 per cent.
The final bracket is 45 percent tax and is for Britons earning £125,140 or more.
The parent earns “just over” £120,000 and claims she will pay the same rate of tax “as those earning £500,000.”
She continued in the post: “Before people say they don’t feel sorry for me, I work full time to support my family. As of January I have two adorable children in daycare, plus my mortgage and I get ZERO free hours of childcare, while they keep promising free childcare but I just pay more so everyone else can benefit.
Black hole
“I can’t afford to pay more tax to fix this country, especially when so many people are travelling for free and not paying what they want, from millionaires with tax havens to people dishonestly claiming benefits.”
The post sparked a huge debate among other parents, with many taking to the comments to share their opinions.
“It’s frustrating when you work hard and end up giving so much to the IRS. And there are others who never work a day in their life untouched,” wrote one person.
Another added: “It’s hard when kids are little, you can’t avoid it. But it lasts a few years and it gets better quickly when they’re older.”
It is the hard working people who get hit. What is the point of working anymore?
Anonymous mother of two
However, others disagreed with what someone wrote: “Sorry, but I don’t feel sorry for you.
“You should have planned better and not sent both children to daycare at the same time.
“You could opt for a more modest house and a lower mortgage.
“I also work full time to support my family and earn well above average. I don’t mind paying my taxes.
“You don’t even know what Labour is planning yet. They may just raise taxes on much higher incomes.”
The mother continued her argument in the comments, after many people had mixed opinions about it.
What has Labour said so far?
In a major speech, the prime minister said he needed to see significant tax increases, stressing that households must endure “short-term pain” for the benefit of the economy in the long term.
Gloomy economic outlook: Speaking from No10 Rose Garden, the Prime Minister said: “Things are worse than we ever imagined.”
Sir Keir’s budget warning: Sir Keir warned that there will be a budget in October and that “it will be painful.”
Criticism of the Tories: The Prime Minister criticised the Conservatives for causing serious damage to the economy and pledged to tackle the “decay” of public services and growth.
Promise to make up the shortfall: He pledged to close the government’s £22 billion deficit by creating an economy that ‘works for everyone’.
Priority for creating wealth: Sir Keir stressed that creating wealth is his government’s “number one priority”.
Essential considerations: He acknowledged that life would get worse before it got better and that vital “trade-offs” needed to be made in the October 30 budget to revive Britain.
Speech to key workers: Addressing an audience of nurses, teachers, firefighters and small business owners, Sir Keir said: “Just as I responded to the riots, I will have to turn to the country and make big demands of you too. You will have to accept the short-term pain for the long-term good. You will have to make the difficult trade-offs for a real solution.”
Election campaign promise: The Prime Minister reiterated his pledge not to increase income tax, National Insurance or VAT.
Other taxes at risk: He suggested that other taxes might be less safe and pointed to possible increases.
Capital gains tax and inheritance tax: Finance Minister Rachel Reeves is expected to want to increase these taxes.
Unpopular decisions: Sir Keir is prepared to make tough choices, including abolishing the winter allowance for pensioners.
Long-term benefits: He explained that they have taken the “difficult decision” to restore government finances for long-term benefits, including for retirees.
She wrote: “I just earned this salary and was in debt before that, so no, I didn’t save. I paid off my debts and bought a house, I just don’t see the point of working.
“I might as well save the £4k a month/£48k a year on childcare and claim benefits. After all, I won’t end up with much less.
“That salary is with my bonus, which I worked a lot of overtime for and which is also taxed at 45%. My point is, are we now going to be taxed at 50 percent? 55 percent? Where does it stop?”
