TAC0105

Written evidence submitted by Benjamin Osaka

 

A few points:

1. Most people of my parents age (70`s) think that they should leave something for their children when they die. Even though in reality their children will have already had to survive quite a long time before that happens.

2. I agree any `free money for the government to spend` tax has to include all assets.

3. I do not agree that 500,000 pounds is a good threshold. It is far to broad a base to start with. Looks good for how much can be collected but is incredibly unfair on the decisions people have made during their lives. A house and a pension scheme would easily be enough for this to be met. Both of which have been the sensible norm for generations.

4. I would raise the base to at least 2 million.

5. I agree that it should be a one off as increasing the income of the government prevents it from pushing for better usage of money. A regular payment just expands wasteful use of money.

6. The elephant in the room is the NHS and its institutionalised wasteful attitude to public money. One hospital or medical facility can be very good but another can be very bad. In total the NHS just expands its cost base every year. In the private sector it is always part of any job not to be wasteful even if that is just switching off lights or accounting for stationary.

7. The state pension age has increased because of life expectancy. That is going to fall and any push to increase the age further would be unfair and it is important to prevent successive governments from using this as a way to reduce spending. I am not quite sure if I will ever get a state pension. I have never expected to get it but have paid my NI contributions and each extra year of increase feels like 8 grand being stolen from me.

8. As Sars-2 is considered a 100 year event then any tax increase should be looking at a 50 year recovery.

 

November 2020