Labour's War Against The Middle Class

In this video, I explain three tax changes we could expect to see in the October budget, following Keir Starmer's speech in the Rose Garden. I will discuss:

- Wealth tax
- Revaluation of council tax bands
- Land tax
- Stealth tax and fiscal drag
- Capital gains tax rates

TIMESTAMPS:
00:00 - Intro
00:38 - Wealth tax
03:55 - Stealth tax
06:00 - Capital Gains Tax

WHO AM I:
I'm Kiran, a qualified Accountant and experienced tax professional living in the UK. I make videos about finance, tax and investing.

MY FILMING GEAR:

DISCLAIMER:
This content, and the ideas presented in it, are for education and entertainment purposes only. Kiran does not provide tax or investment advice. The information presented does not consider the financial circumstances of any investor, and therefore may not be suitable for all investors.
Although Kiran is an Accountant, no Accountant-Client relationship is established with the viewer in any way.

As an Amazon Associate I earn from qualifying purchases. The product links in the description are affiliate links. This means if you choose to buy something through one of these links, I may receive a commission on the sale, but it makes no difference to you as a buyer.

[daniel-wgu]

I've been an investor in Apple, gold, housing market as well. because I strongly believe in them, I've always believed in the stock, but now I don't know if to re-distribute my portfolio and put some money in Nvidia or Tesla . especially now that we are experiencing a market correction

[nicolasbenson]

Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.

[VanceHorsford]

I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report

[cianog]

The U.K is a middle income country at best. Anyone that wants to improve themselves should leave.

[JonDingle]

How about an annual "Wealth TAX" on ALL politicians and peers, their earnings, expenses and assets. Followed up with a zero foreign aid, zero benefits and costs for illegal immigration and reducing VAT to 10% across the board (no flat rate) that is no reclaimable. The latter would raise £Billions and save company's and the government a fortune in admin.

[themultilingualfamilyhub]

If I didn't have kids, I'd be out of this country TOMORROW!! This government is waging war against the middle class with terrifying speed. Your videos have really helped us prepare ourselves for the upcoming onslaught!! Thanks Kiran!

[keithhooper]

It's time for mass refusal to cooperate with government and their agencies.

[jacque]

The thugs are stealing your hard earned income and threatening to put you in a cage if you say anything.

[GerbertTurco]

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

[ahuman]

I feel motivated to leave the UK and go somewhere with better weather and less 💩 government

[roberthuntley]

Capital gains tax is a tax on nominal gains, not allowing for inflation so you can find yourself paying tax on a real terms loss if you've held an asset for a few years of cumulative CPI growth. If they raise the % rate its only fair to bring back something like indexation allowance.

[adamlaw]

There is no incentive in the UK to work hard and be successful anymore. All labour want to due is take the success of others and share it with the masses. 😡

[Gashinshoutan]

That's why I support Reform uk as they suggest to raise the basic tax rate threshold to 20K and the highervtax band to 70K to get people working and incentives to earn more.

[Vanosphere]

But the middle class are working people.

[UnhingedJessie]

For a lot of us the only chance of ever getting a boost to escape poverty is inheritance. Labour are even robbing us of that. There's going to be a lot more homelessness soon.

[WaleedRizk]

At this point, they do not deserve to be called Labour. They aren't standing for ordinary working people at all.

[sarawilliam]

People are facing a tough retirement. and it's even harder for workers to save due to low-paying jobs, inflation, and high rents. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire in.

[pauls]

Dont try to better your life, start any kind of business, provide jobs. Just be a bum and own nothing

[At_the_races]

There’s a VERY OLD SAYING, dogs bark, cows moo, and labour raise taxes, nothing has changed.

[thetimeisnow]

How can a man who doesn't know what a woman is run our Country.