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@BorisJohnson A society with vaccine passports isn’t a return to true freedom. It’s discrimination, coercion and immoral
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Dan Tusenton
1K posts
@AaronBastani Credit to Reform for bravely speaking out in favour of the uniparty position of Luxury Boomer Welfarism
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Spending on pensions:
£146 billion
Spending on pensions plus pensioner related benefits:
£170 billion +
Spending on refugee hotels:
£2 billion
There’s a fundamental dishonesty about this rhetoric.
It’s very…’uniparty’!
Robert Jenrick@RobertJenrick
Reform UK will keep the triple lock because we will end the waste on benefits, foreign aid and illegal migrants.
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@gr72020771 @SandyofSuffolk @stephenpollard You get those credits if you’re on Jobseeker’s Allowance, or raise the kids as a stay at home parent.
So, it’s not ‘paid in’
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@SandyofSuffolk @stephenpollard Why do we need 35 qualifying years to get a full state pension if it’s not ‘paid in’?
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No one has 'paid in'. That's a long-standing fiction as you well know.
All you're doing is shattering any credibility when you say Reform is committed to restoring the nation's finances.
Nigel Farage MP@Nigel_Farage
Reform will stand with our pensioners who have paid into the system all their lives.
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@emperorofhind @ReemAmirIbrahim How do you sell a third of a house Arya?
Typical entitled brown woman logic.
I’ll ask my partner’s opinion. Oops…she’s Indian.😆😆😆
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State pension: £146 billion
Asylum seeker hotels: £2.1 billion
Sophie Corcoran@sophielouisecc
Young people Pensioners getting a pension they can live off of after working their whole damn lives - is not an attack on us It is the hotel dwellers and those that can’t be arsed to work - that we have to pay for that are the problem That is the actual unfairness here
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🚨 NEW: Double child killer Ian Huntley is hours from death after his life support was switched off following a prison attack last week
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@wittgenfrog @paullewismoney If a doctor does extra shifts at £100k they’ll be taxed at 71% marginal rates, and that’s before pension deduction
It makes sense to not take extra shifts and keep below £100k and spend that time with their family when the same shift earlier in the week had a higher net pay rate
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@paullewismoney I'd love someone to to explain the logic of this assertion. Even after tax, earn more, get more in your pockets, that doesn't change.
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@LBC He doesn’t believe in anything and relies entirely on legal framework.
We saw this when he could only conclude on the definition of a woman once the Supreme Court had given their verdict.
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@DanNeidle @timleunig @Simon_Nixon There’s never any easy answers, but just seems like the current system doesn’t work for graduates, the government, universities or even the taxpayer.
It’s all a bit of a mess.
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@DTusenton @timleunig @Simon_Nixon Bit harsh on a graduate who’s just paid off their student loan.
All the answers are a bit crap sadly…
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This is a nutty idea. Why would we want to give a bigger tax break to richer graduates? And to make the tax system even more complex?? Nuts!!! @DanNeidle @Simon_Nixon
Simon Nixon@Simon_Nixon
Excellent and surely unarguable letter in @thetimes making the case for making student loan debt tax deductible. One only has to think about this for one minute to wonder why on earth this doesn’t happen already…
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@MerrynSW Perhaps we should start with trying to retain our own talent, who are fleeing in record numbers…
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Who needs all those unemployed UK grads eh?
Financial Times@FT
Home Office advisers launch review of UK visas to attract top talent ft.trib.al/6G5diQS
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@DanNeidle @timleunig @Simon_Nixon Has Tax Policy Associates looked into potential reforms of the student loan system?
I’ve seen proposals of a flat 1 or 2% graduate tax on all earnings suggested as a means of removing the 50%+ marginal rates that we have in the current system.
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@timleunig @Simon_Nixon I really don’t understand it
If you want to reduce the cost of student loans for graduates then why not, you know, reduce the cost of student loans for graduates?
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@LBC @TomSwarbrick1 The smart choice is not to earn under the threshold but instead to leave the UK.
An FOI request showed that the student loans company has never successfully taken legal action against a graduate abroad to enforce repayments.
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“He’s going to make sure he won’t earn above the threshold.”
Caller Geoff joins @TomSwarbrick1 to talk about the toll student loan debt is taking on graduates, including his own son and a friend's.
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@ShehabKhan Young people are less likely to vote so are treated like cannon-fodder by governments.
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It’s always seemed odd that student loan interest is linked to RPI - when the UK Statistics Authority says RPI isn’t a good measure and experts say it overstates inflation.
The pension triple lock uses CPI, yet graduates are charged based on RPI.
Very odd.
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@newjez @LBC @NickFerrariLBC I’m sure it won’t be long until salary sacrifice is watered down or cancelled, which would be my cue to move abroad.
They’ve already started tinkering with ISAs.
The middle classes taking the brunt of the pain as usual.
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@DTusenton @LBC @NickFerrariLBC Salary sacrifice everything you can. Pension, cars, bikes.
My son's is well over £100,000 at graduation. Probably more now. Engineering, working/paying, but he can go overseas. Not aware of anyone having been prosecuted for failing to pay overseas. We will see.
It's ridiculous.
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'Oh my god, I think you've won!'
@NickFerrariLBC hears from caller Sarah, whose daughter has more to repay in student loans than anyone he's ever heard of.
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@paullewismoney Fiscal drag via income tax is wrong and immoral, however we know tax is variable and no one signs a contract for income tax or NI thresholds.
This is the key distinction with the student loans thresholds, for which we did sign a contract.
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Freezing tax thresholds and allowances and repayment thresholds all learned by Labour from their inventors - previous Conservative governments.
David Watson@DavidW63
@APatten97670 @paullewismoney I have no problem with the expansion though. I do have a problem with milking grads with threshold freezes. The ballooning interest is actually mostly a government issue as they should want to avoid the unnecessary 100s of billions of write offs through the 2040s.
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@DavidW63 @paullewismoney I agree the 9% is fair, as unlike the government, I believe the original terms of a contract should be honoured.
But as say, if the threshold had risen with average earnings, it would be nearer £40k, which would materially reduce monthly repayments.
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@DTusenton @paullewismoney 9% is unavoidable though, loans must be repaid. Threshold is key, as Paul says.
While thinking about this too much (!) I have considered an upper threshold to cap repayments which I think would help - rather like NI works.
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Interest rates are only a psychological problem for over 70% of Plan 2 graduates as they will not pay off the loan until it is written off in their fifties bit.ly/4tRJTqB the burden is the extra 9% tax on income. Raising the threshold where that begins would help them all
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@BBCNewsnight Student loans are a tax on aspiration for non-rich kids who dare to get ahead in life.
Possibly the most British tax in our tax system.
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"A system where people from a poorer background are essentially going to have to pay more... for access to the same degree."
Graduate Max, whose student debt is in excess of £100,000, raises his concerns with the Plan 2 student loans.
#Newsnight
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@LBC She doesn’t even understand how the student loan system works.
She says, “because they [the Tories] lost control of inflation, the repayments went through the roof”.
In reality, the rate of inflation has no impact on repayments - which is entirely dependent on the threshold
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Rachel Reeves admits student loans system is ‘broken’ just a month after telling LBC it was ‘fair’ lbc.co.uk/article/rachel…
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@Sonny496 @MartinSLewis @KemiBadenoch @LauraTrottMP Increasing the threshold does help graduates as it reduces the amount they pay, and keeps in line with the contract they signed.
Most will never clear the balance, so it would make no difference if the interest rate was 1000%
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@MartinSLewis @KemiBadenoch @LauraTrottMP Threshold is one thing but that doesn't help the people already paying their loans back. Kemi's proposal of reducing the rate to RPI is the correct one. All funded by stopping the subsidies of Mickey Mouse degrees.
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Interesting meeting and engaged conversation today with @KemiBadenoch, @LauraTrottMP and her team (of Plan 2 loan holders). We chatted for an hour about the system & options and hopefully something positive will come of it. Good to talk to the opposition as most of my meets are usually with ministers.
For me, in the short term the most important thing is the govt reverse its freeze of the repayment threshold.
Kemi Badenoch@KemiBadenoch
Returned the favour and 'ambushed' @MartinSLewis in my office today with a group of graduates suffering under Plan 2 loan repayments! But good on him for coming over to Parliament for round 2 of our debate on my plan to cut interest rates on student loans. Martin and I don't agree on everything - but we know that graduates are being shafted by the current system, and we both care enough to try and change it. And unlike Keir Starmer, Martin is willing to listen. Once again Starmer didn't answer any of my questions on student loans earlier today in PMQs. It's because the PM knows that under his government graduates are getting poorer and job opportunities are disappearing. Labour have no plan for young people. I do.
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@whazell @theipaper They’ve already burned the political capital. Any backdown now won’t see much forgiveness from graduates.
It was a complete disgrace to retrospectively change the terms, entirely to the detriment of the graduates.
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Exclusive @theipaper: Ministers are looking at changing the interest rate or repayment threshold on student loans to defuse graduates’ growing anger over spiralling student debts.
Link in next tweet 👇
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