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@bobble
One thing that I always look for in announcements is how they treat people with student loans from a tax perspective. I asked Keir in person about this last year and the answer I got was "we need to look at it". Not seen anything from labour on it.
Graduate finishing this summer, assuming they start on 25k, will pay a 41% marginal rate of tax (20% income, 9% student loan, 12% NI) for 40 years and their interest bill growth will outstrip capital repayment, unless they start on triple that.
Get to 51k, and this jumps to 51% (40% income, 2 higher rate NI, 9% student loan). With greens proposed changes, person on 51k pays 6% more and their marginal rate gets to 57%.
Saw reform offering to scrap interest. Won't do much as most people don't repay it, so total balance irrelevant and the amount you pay back is unaffected. Interesting that it is on their radar.
At 100k with student loan and child benefit, you could be at 70-77% marginal rate.
See https://taxpolicy.org.uk/2024/06/06/tories_accidental_70_percent/ and https://taxpolicy.org.uk/2024/03/10/infographic_marginal_rates_2024/