UK budget gives HMRC power to raid your bank account

[Anarchy in the UK]

http://blogs.telegraph.co.uk/techno...c-power-to-raid-your-bank-account-like-wonga/

Holy smokes. I shouldn't be surprised by this, but I am. It's all out in the open now. The governments will continue to rob us until there is nothing left.

Props to DRK for giving us a potential escape route.

It's time to abandon the old system.

 

[ErrorId]

Cyprus was the test run, I'm pretty sure this was already passed in many of the western countries but was buried deep in some other legislation.

 

[TanteStefana]

Can you explain what it is a little? Sounds like a European issue, and I haven't kept up there? (though I should!)

 

[ErrorId]

Can you explain what it is a little? Sounds like a European issue, and I haven't kept up there? (though I should!)

Basically I believe it's in regards to debt, should the government decide that you owe them any money they will take it right out of your bank account. Before this change they would have to take you to court and win to collect. With this now on the books a couple letters and/or phone calls and they will go into your account and take it.

And we all know the government never makes mistakes.

Personally I think it's a cover for something more sinister like for example should another financial meltdown occur the government will get it's bailout for the banks right out of citizens bank accounts directly.

 

[HammerHedd]

Really, just another reason that banks aren't really any better or safer than keeping your money in cash in a can in your back yard (figuratively). Consider that 50 years ago, no one in their right mind would pay a bank a fee to hold on to their money - today you have fees to put your money in, fees to take your money out, fees if you don';t leave enough money with them, etc. It's pretty insane that it seems OK to pay tomeone to let you use the money you earned.

 

[hiddendark]

They're not the first country to do this. I know people who have had money taken out at really inconvenient times by the tax department.