evidence in the budget that it's going to — evidence in the budget that it's going to generate as much momentum as what— going to generate as much momentum as what it _ going to generate as much momentum as what it was billed as. sue, going to generate as much momentum as what it was billed as.— as what it was billed as. sue, what about the impact _ as what it was billed as. sue, what about the impact of _ as what it was billed as. sue, what about the impact of the _ as what it was billed as. sue, what about the impact of the income - as what it was billed as. sue, what| about the impact of the income tax cut on people earning £55,000 up to £150,000? you cut on people earning £55,000 up to £150,000? ., , , £150,000? you will still benefit. not a huge _ £150,000? you will still benefit. not a huge amount, _ £150,000? you will still benefit. not a huge amount, but - £150,000? you will still benefit. not a huge amount, but from - £150,000? you will still benefit. | not a huge amount, but from the £150,000? you will still benefit. - not a huge amount, but from the cut in basic rate, because once you earn over £12,500, which is the personal tax threshold we all have, once you earn over that the next chunk is basic rate tax, then from around £50,000 upwards is 40% tax, so you will benefit a small amount from the fact that the basic rate has been cut by a penny in the pound from next year. but, of course, the higher earners, the ones earning our hundred and £50,000 or more who will obviously see a big change, because instead of paying 45% tax, they will still be paying 40%, so anyone from
cost of living for many families. they will pay something in the ballpark— they will pay something in the ballpark of £13,000 a year in taxes. that's_ ballpark of £13,000 a year in taxes. that's not— ballpark of £13,000 a year in taxes. that's not a — ballpark of £13,000 a year in taxes. that's not a one average, everybody paying the _ that's not a one average, everybody paying the same. if we want to look at how— paying the same. if we want to look at how the — paying the same. if we want to look at how the government can do something about the cost of living, the first _ something about the cost of living, the first thing we should do is look at the _ the first thing we should do is look at the individual tax burden, and the second — at the individual tax burden, and the second thing is looking at the vast range — the second thing is looking at the vast range of regulations that increase _ vast range of regulations that increase the cost of living for families _ increase the cost of living for families. things like childcare regulations. families. things like childcare regulations-— families. things like childcare regulations. families. things like childcare reuulations. ., ., ., regulations. your response to that, is that a viable _ regulations. your response to that, is that a viable route? _ regulations. your response to that, is that a viable route? well, - regulations. your response to that, is that a viable route? well, look, l is that a viable route? well, look, the fact of — is that a viable route? well, look, the fact of the _ is that a viable route? well, look, the fact of the matter _ is that a viable route? well, look, the fact of the matter is, - is that a viable route? well, look, the fact of the matter is, it's i the fact of the matter is, it�*s those people who are most vulnerable, and less than the tax threshold. so cutting their tax will not make any difference to how much money they have in pocket. as for sam �*s point that we are already taxing companies too much, as i said, we have paid out billions to these companies in recent years. you may say that oil and gas companies pay more tax than other industries,
conservative newspapers. tte: tectonic plates of politics in the uk are moving at a stick to that view at the moment. even though, it is fragile and the opposition has an awful long way to go before any general election. but you are right, these are very extraordinary times but this is an extraordinary, we live in extraordinary times and no government in my lifetime has had to live through anything like the pandemic. so, it is understandable that there are problems but these sorts of issues are coming home to roost in a big way.— roost in a big way. turning to the other generation, _ roost in a big way. turning to the other generation, the _ roost in a big way. turning to the other generation, the working i other generation, the working people, the telegraph says that they are going to be dragged into the higher rate tax span because the chancellor is not going to raise the tax threshold and so the wages are rising and more people will be dragged into it. t
rising and more people will be dragged into it.— dragged into it. i think this is auoin to dragged into it. i think this is going to be _ dragged into it. i think this is going to be one _ dragged into it. i think this is going to be one of— dragged into it. i think this is going to be one of those - dragged into it. i think this is - going to be one of those incidents. we are _ going to be one of those incidents. we are losing your line there will try to reestablish that. pick up on that point for me, if you would. to idea that younger workers are going to be pulled into the tax bracket because the tax threshold will stay the same this because the tax threshold will stay the same , , , , the same this is the biggest cost-of-living _ the same this is the biggest cost-of-living prices - the same this is the biggest cost-of-living prices for - the same this is the biggest - cost-of-living prices for generation cost—of—living prices for generation and that�*s why a wide range come it�*s very difficult to find unity amongst economists, but on the subject, you well can. and yes, there is the decision to freeze income tax thresholds is a major part of it. boris is already stepped back and is already getting
petrol will the chancellor follow suit? we'll have to see. it's not just petrol when you look across the place so many commodities are goin up in price. have a look at this. this is showing you lots o different things, from wheat prices - this is just since the start o the year fertilizer, nicole, a lot come from russia. that goes into electric ou batteries. platinum, maze, all of these things adding up to the fact that prices are likely to go u and that cost of living crisis is only just beginning i'm afraid, the chancellor has made it worse. why is he made it worse? well, because in april, ther are further tax increase coming remember the national insuranc increase, that health an social care levy that is going to push down peoples disposable income. that's the blue slide, and we're just going from th poorest due to the richest the blue slide is there, that' national insurance on top of that, income tax, th change in the tax threshold,
paying that, and the point at which we pay more, are being frozen for four years. as prices go up, the amount we pay is more. so this month, you will see, in cash terms, you will see your take—home pay go down as a result of the national insurance increase. you won't see your take—home pay go down as a result of the freezing of the tax threshold. but as your pay hopefully goes up over the year, more of your pay will be taken in income tax because that income tax threshold has not been increased in line with inflation. you need to increase it every year in line with inflation to keep the tax burden the same. the fact it is not being increased is a tax rise even though it won't take any more, you won't feel it in your pay packet in the same way this month as you will feel the impact of the national insurance change. all of this comes at a time of rising energy, water
The Dodgers had the highest payroll in Major League Baseball in 2021 at over $285 million, and were levied the largest penalty for exceeding the highest competitive balance tax threshold, totaling $23.65 million.
it is now up to league commissioner rob man fred and the union executive and their teams to negotiate a deal that so far has made very little progress with virtually no budging from either side. major league baseball wants are expanded playoffs and no increase in salaries. the players association wants a higher luxury tax threshold, more money for younger players, and an end to tanking. that's when teams trade away their high-paid star players to reduce player payroll and bring in younger prospects. players and owners had come to four agreements without the work stoppage but heading toward a clash for more than two years. the owners chose to wait until the-off season to trigger the lockdown not to cancel any games nor more importantly alienate the fans. there are 30 teams in baseball including the marlins who play right here. there hasn't been a work