The Times They Are A Taxing?

Dominic Thomas
Oct 2025 • 3 min read

The Times They Are A Taxing?

Tax is one of those hot topics that can be fairly divisive along political lines. Few of us relish the idea of paying tax, but nearly everyone loathes the idea of our taxes being wasted on vanity projects or things that seem out of line with our values or needs.

I recently had the pleasure of seeing Nye, a production at the National Theatre about the Welsh Labour MP who was responsible for creating the NHS. Given how many doctors I have met and advised over the years and how committed they are to their work, I was surprised to learn how few doctors in the late 1940s were initially supportive of his plans. I am, probably like you, extremely grateful for the NHS and the treatment and care that I have had over the years. Of course it has many faults and flaws, but like all great things it is a work in progress.

Whilst the play, starring Michael Sheen, has now concluded its sell-out run, it is still available to watch on the excellent streaming service from the National Theatre (very good value at £100 a year).

You may remember the fabulous opening ceremony of the 2012 Olympic Games in London, created by Danny Boyle, a time when being English made me rather proud and flags were welcoming. There was a great segment honouring the NHS with giant beds and dancing doctors and nurses, a real celebration of one of our best institutions.

It took courage, passion and compromise to create the NHS – agreeing to make doctors the highest paid professionals, whilst retaining their independence and ability to work outside the NHS. It also took tax – at a time when Britain and the world was being rebuilt brick by brick, street by street. Rationing hadn’t even ended – not officially ending for another six years after the NHS was born (4 July 1954).

Today the NHS has approaching 1.4m members of staff with a budget approaching £200bn and serving 66 million of us. Most Americans (the sensible ones) recognise just how lucky we are to have our NHS, a medical problem in the US may well see your family bankrupted without sufficient private insurance.

Tax can be used extremely well and it’s clear that different nations have alternative views and approaches. It would seem that the majority of politicians have given up on trying to do difficult things, instead opting for pat answers and deferring decisions (or indecision). The NHS is regularly a political football and the media coverage that it often receives can only leave a discerning mind questioning the motives of billionaire media owners who live abroad (well maybe simply drawing obvious conclusions). In the pandemic we saw the incredible bravery of medics as they tackled an unknown virus without the right equipment, we clapped and thanked and then many forgot.

So I am hereby giving my heartfelt thanks to those of you who work within the NHS, as GPs, Junior Doctors, Consultants, nurses, psychologists, psychotherapists, OTs and managers (I hope I haven’t missed any of you out). Whether you are retired or still fighting the good fight, THANK YOU! My family, friends and I have all benefitted from your collective wisdom, care and the pursuit of good medicine and good science.

So let us remember that our taxes, as painful as they may sometimes be (and I would be the first to suggest that the tax system is desperately broken) are doing tremendous good, every minute of every day. The NHS should not be for sale.

References:

2012 Olympic Ceremony video: https://www.youtube.com/live/4As0e4de-rI?si=VwY32f_03psef0F0

Nye: National Theatre Trailer: https://nye.ntlive.com/trailer/

National Theatre at Home: https://www.ntathome.com/

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More thoughts on Brexit

Solomons-financial-advisor-wimbledon-blogger

More thoughts on Brexit

I have spoken to a number of clients, all of whom expressed great sadness at the outcome of the EU referendum. I’m sure that some of our clients voted to leave for very good reasons (such as the EU being a huge bureaucracy that seems unwilling to change its ways). If you could cut through the bile of the media and politicians, then there was a debate to be had. Sadly, many are ill-informed about the actual issues, facts, experts, historical context and any sense of idea about what the impact really might be.

Many are still deeply distressed about the result, because it feels wrong. It feels as though something has been stolen from us all. Our nation, which is one of the most tolerant and safest places for anyone to live, has appeared to give the impression that we simply don’t care about others any more. We have had enough… “we want to take our country back”.

I am one of those that is deeply angry. At times, I have lost the internal conflict and said some things which probably doesn’t help. I apologise. I have been fed up that most of the commentary within my sector is written by white men, who are fairly wealthy and have little experience of racism in person and because they don’t see it, assume its not very bad.

Another stereotype – give me a badge

I am deeply concerned about the way that the far right appear to have been given permission to behave in a manner which feels like a threat to the core of this country, or what I think this country is. I have watched and read in dismay at stories and videos of some horrible incidents. There is an air of menace, interrogation and intimidation. As a large, bald, white male, sadly I appear to match the general stereotype of a thug. I feel the need to wear a badge that says the equivalent of “I didn’t vote for this, I don’t want you to leave, you are safe with me”. What I still fail to understand is why so few seem so unwilling to recognise that this was always the likely outcome. People that I respect and admire greatly, of all creeds and ethnicity.

I know full well that Westminster has condemned racist acts in the past, and did so again yesterday (Monday) but to be blunt, lots of white middle class men (largely) invariably move their lips to a soundtrack that seems at odds with their actions. However “good” a Prime Minister David Cameron has been (which is of course subjective) he was the one that agreed to run the referendum and its result has created this deep state of unease.

We have clients from all backgrounds. We have friends, colleagues and neighbours. Many are deeply worried for their future because of the newfound “courage” that fascists have been handed with a vote to “leave” for which they read – tell everyone to go (it seems). We have to stand up against this, not afterwards, but in the moment, during. If that is a frightening prospect, well that’s the practice of standing in another’s shoes and what it means to stand against racism.

Yes there is a reason…

I understand that most of these people are poor, often poorly educated, a product of their circumstances and if they are constantly told that they are worthless they tend to believe that lie until someone else, proclaiming nationalistic values, provides a form of antidote with a sense of identity. However this is no excuse, just an explanation.

So however you voted, the reasons why those of us that voted “remain” were invariably beyond the mere numbers of costs, economics and bureaucracy. We know that immigration needs careful controlling, we know that integration could and should be far better than it is. But we also know that we are all lucky to be born here, which is all it is, a random roll of the dice.

Business is more than money, its also community

Perhaps this is not the place to talk about “my feelings” after all, I run a business designed to serve you to make better financial decisions. However to be candid again, the financial planning I do, that works best is all about personal values – yours (and mine) and invariably the money is the least important bit. If my job is simply to protect your wealth, then frankly this is also a part of that.

and here is an oldie… The Power of One.

Dominic Thomas
Solomons IFA

You can read more articles about Pensions, Wealth Management, Retirement, Investments, Financial Planning and Estate Planning on my blog which gets updated every week. If you would like to talk to me about your personal wealth planning and how we can make you stay wealthier for longer then please get in touch by calling 08000 736 273 or email info@solomonsifa.co.uk