Budget week is coming, and I’m struggling to see how any of it helps people like me trying to build a life in Britain
It is a challenging time to live in the UK, inflation remains high, and many are grappling with the out-of-control cost of living.
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To add insult to injury, the Labour government is likely bringing tax rises, further punishing those who are trying to make a living in this country.
It’s no wonder that many working people are feeling let down by Labour and disengaged with the upcoming Budget.
If you are a young, hard-working person in the UK, the future doesn’t feel bright. Even if you manage to make more money, you will pass a higher tax threshold, be taxed more and be worse off.
These policies punish ambition, driving workers to aim low to reduce their tax burden.
As an entrepreneur living in the UK, I myself have experienced these challenges when it comes to running my business. The government doesn’t support small business owners, discouraging people from going it alone and creating more barriers to success.
Rather exacerbating existing challenges, the government should encourage people to be entrepreneurial and take risks, which in turn would give our economy a much-needed boost.
As widely reported, many people are taking these ongoing measures as their cue to leave the UK for warmer, more tax-friendly countries like Dubai.
Unfortunately, this exodus is an indication that people no longer see a future for themselves in this country. There are not the same options here as there were for previous generations.
It’s almost impossible to start a successful business, get onto the property ladder or even comfortably raise a family. So what is left in the UK for us?
Realistically, if the government wants to engage with younger voters and create optimism in the UK, they need to make drastic changes.
They should create an environment where it is easier to be successful, giving us hope and optimism for the future.
Right now, working and earning money in the UK feels like an uphill struggle and the average person under 40 is likely to be asking themselves, ‘Why bother?’
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Eamon Shahir is the founder of Taxd
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