In a time where most businesses and people are struggling greatly, the constant introduction of new tax laws might do more harm than good. Apart from the regular VAT and net income tax, there are many others that the government has in place. However, not all of these taxes genuinely benefit the people.
This discourse emerged after introducing a new “toaster tax.” At first thought, many wondered what it could be and how the government hoped to regulate it. Will they charge you by the slice for each toast you make?
Or will it be a cumulative net amount? Even funnier, would one have to report how much toast you eat on a yearly self-assessment form? Without a doubt, the name leaves a lot to the imagination.
However, it is much simpler than what most people think. It charges ships to accept any small electrical item for recycling, regardless of whether it was purchased from them. Therefore, they will have to pay for the cost of safely disposing of old toasters by passing them on to hard-pressed customers. Without a doubt, this is a huge burden on high street shops.
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They are already struggling to survive, and this extra tax burdens them. Moreover, the idea of a “boiler tax” still hovers over the citizens. This levy states that plumbers not installing enough heat pumps may be fined heavily.
This is quite tricky as people do not really want them. Furthermore, the plumbers will have no choice but to add an additional charge on each conventional heating system they install.
These seemingly “little” fees may become considerable problems in the future. The citizens are getting tired of paying extra fees for almost everything, making the prices of things skyrocket. Therefore, a tax as fickle as a toaster tax only sounds frustrating.
POLL—Should the Government Increase Taxes on the Wealthy To Reduce Economic Inequality?
This also begs the question of what’s next. What new tax will the UK impose soon? Would there be a new car tax? Would they implement the rumored “import tax,” too? Or would every single item or service have its own little tax?
The answers to these questions do not look promising. The people will suffer for it, and the economy will take the impact. Eventually, they will get tired of these taxes, and loss of businesses, migration, and high crime rates may occur.
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Furthermore, the new taxes will affect anyone and everyone equally. From automobile sellers to importers to your local grocery stores, a net increase in taxes will cause an increase all around. For those who are struggling already, it could throw them into abject poverty.
Therefore, the government might want to rethink these “little” taxes that keep springing up randomly. There are better ways to regulate things without adding an extra financial constraint on its citizens. Moreover, if most citizens are below the poverty line, what’s the use of the taxes? Will the UK still be a prosperous country?
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