stuart1974
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Post by stuart1974 on Aug 29, 2020 22:23:29 GMT
Some of the headlines stand out from Sunday's papers. Firstly that the poll lead Boris had has gone, although it is incidental to his majority,it will make backbenchers jittery even this far from a GE. Secondly, The Sunday Times has listed some tax changes proposed which may (or may not, these things tend to be trailed ahead to test the water) be in the November budget; CGT to rise to the relevant income tax bracket; Corporation tax to rise from 19 to 24%; Overseas Aid raided; tax relief on pensions changed too. Estimated to raise £30bn a year, these were opposed by Conservatives at the last election when Labour proposed some of them. Thirdly, the Mail on Sunday is following up the suggestion Boris will step down early, "many think Mr Johnson might step down in 2023 to give his successor time to settle in to No 10 before the 2024 election. Friends of Michael Gove, the Cabinet Office Minister, say they expect him to run for the party leadership then, despite the formidable threat posed by Chancellor Rishi Sunak." www.dailymail.co.uk/news/article-8677671/amp/Michael-Gove-Rishi-Sunak-square-Boris-Johnsons-heir.html?utm_medium=referral&utm_source=upday.samsung.browser |
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Post by peterparker on Aug 30, 2020 6:35:18 GMT
Corp Tax is interesting. Obviously the Government needs to claw back some money, but it doesnt jive much with them wanting to attract business when we have left the safety net of the transition period.
Will be interesting what other countries do with their relevant tax
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Post by Deleted on Aug 30, 2020 7:06:39 GMT
They definitely need to claw back from somewhere, I think everyone should realise the furlough and other bailouts have to be paid for somehow. Whatever route they take will draw criticism. Good luck to them!!
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Post by Deleted on Aug 30, 2020 7:27:58 GMT
Corp Tax is interesting. Obviously the Government needs to claw back some money, but it doesnt jive much with them wanting to attract business when we have left the safety net of the transition period. Will be interesting what other countries do with their relevant tax Raising tax on declining earnings is never a good look. |
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Post by trevorgas on Aug 30, 2020 7:43:35 GMT
Corp Tax is interesting. Obviously the Government needs to claw back some money, but it doesnt jive much with them wanting to attract business when we have left the safety net of the transition period. Will be interesting what other countries do with their relevant tax Raising tax on declining earnings is never a good look. All governments have an obsessional need to be seen to be balancing the books over the lifetime of a Parliament. The context of the borrowing to sustain the economy during Covid should be seen as similar to the borrowing undertaken to fund the 2nd World War,we made our final repayment on that I think in 2007!!. A significant hike in taxes will damage the economy,there is almost an argument to cut taxes to stimulate growth. |
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Post by Deleted on Aug 30, 2020 7:51:34 GMT
Raising tax on declining earnings is never a good look. All governments have an obsessional need to be seen to be balancing the books over the lifetime of a Parliament. The context of the borrowing to sustain the economy during Covid should be seen as similar to the borrowing undertaken to fund the 2nd World War,we made our final repayment on that I think in 2007!!. A significant hike in taxes will damage the economy,there is almost an argument to cut taxes to stimulate growth. Clive Good morning. Oooh, you unrepentant Keynesian you🤗 Quite right. It's an act of utter stupidity to raise taxes and cut spending in a recession. As you say, the opposite should occur. |
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Post by trevorgas on Aug 30, 2020 7:55:41 GMT
All governments have an obsessional need to be seen to be balancing the books over the lifetime of a Parliament. The context of the borrowing to sustain the economy during Covid should be seen as similar to the borrowing undertaken to fund the 2nd World War,we made our final repayment on that I think in 2007!!. A significant hike in taxes will damage the economy,there is almost an argument to cut taxes to stimulate growth. Clive Good morning. Oooh, you unrepentant Keynesian you🤗 Quite right. It's an act of utter stupidity to raise taxes and cut spending in a recession. As you say, the opposite should occur. Morning Les a beautiful sunny day in North Wales. That's what happens when you do A level economics in the late 60s!! |
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Post by matealotblue on Aug 30, 2020 8:26:56 GMT
Clive Good morning. Oooh, you unrepentant Keynesian you🤗 Quite right. It's an act of utter stupidity to raise taxes and cut spending in a recession. As you say, the opposite should occur. Morning Les a beautiful sunny day in North Wales. That's what happens when you do A level economics in the late 60s!! Thought everyone was doing wacky baccy back then.....? There’s always one eh!........😀 |
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Post by Deleted on Aug 30, 2020 8:50:31 GMT
Clive Good morning. Oooh, you unrepentant Keynesian you🤗 Quite right. It's an act of utter stupidity to raise taxes and cut spending in a recession. As you say, the opposite should occur. Morning Les a beautiful sunny day in North Wales. That's what happens when you do A level economics in the late 60s!! Indeed. Sun over the Severn looking lovely also. Politics and Economics in the late 60s' Halcyon Days 😂 |
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Post by Deleted on Aug 30, 2020 8:51:29 GMT
Morning Les a beautiful sunny day in North Wales. That's what happens when you do A level economics in the late 60s!! Thought everyone was doing wacky baccy back then.....? There’s always one eh!........😀 Whacky Baccy? How tame.😜 |
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Post by peterparker on Sept 1, 2020 7:33:22 GMT
so talk of a 5p hike on fuel duty.
That'll encourage people back to work.
What about are Hauliers and the B word?
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Post by Deleted on Sept 1, 2020 7:52:46 GMT
so talk of a 5p hike on fuel duty. That'll encourage people back to work. What about are Hauliers and the B word? Interesting one that. Oil prices being what they are there is more than even chance that this 5p could be absorbed without a price increase on the forecourt....maybe |
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Post by Deleted on Sept 1, 2020 9:47:57 GMT
so talk of a 5p hike on fuel duty. That'll encourage people back to work. What about are Hauliers and the B word? This is what I expected. Every mention of any tax increase will create some form of backlash from anyone who dislikes the current government. They have an impossible task. |
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Post by Deleted on Sept 1, 2020 10:19:16 GMT
so talk of a 5p hike on fuel duty. That'll encourage people back to work. What about are Hauliers and the B word? This is what I expected. Every mention of any tax increase will create some form of backlash from anyone who dislikes the current government. They have an impossible task. I don't think that's quite right Eric A lot of us call for tax rises when there is a period of economic expansion. It's at that point people start screaming about left wingers wanting to tax and spend... |
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Post by peterparker on Sept 1, 2020 10:36:34 GMT
so talk of a 5p hike on fuel duty. That'll encourage people back to work. What about are Hauliers and the B word? This is what I expected. Every mention of any tax increase will create some form of backlash from anyone who dislikes the current government. They have an impossible task. We are talking about the biggest downturn since... We need to re-grow the economy. people keep saying get back to work, get back in the office etc, etc. Taxing now could well stifle that. We want to encourage people out like the 50% eat out scheme. Squeezing people's disposable income, plus larger unemployment tis not going to encourage recovery I would say that is basic economics. Yes things need to be paid back, but lets get back on our feet first |
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Post by Deleted on Sept 1, 2020 10:58:39 GMT
so talk of a 5p hike on fuel duty. That'll encourage people back to work. What about are Hauliers and the B word? This is what I expected. Every mention of any tax increase will create some form of backlash from anyone who dislikes the current government. They have an impossible task. People are generally happy to pay tax if it is invested, but it's only fair if the wealthy are taxed properly too. We know the Tories will tax the poor and the wealthy less so, in order to keep the 'free market'. The Tories mantra is low tax, but it seems to be low tax for the rich and screw the little guy. |
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Post by Gassy on Sept 1, 2020 11:18:21 GMT
This is what I expected. Every mention of any tax increase will create some form of backlash from anyone who dislikes the current government. They have an impossible task. We are talking about the biggest downturn since... We need to re-grow the economy. people keep saying get back to work, get back in the office etc, etc. Taxing now could well stifle that. We want to encourage people out like the 50% eat out scheme. Squeezing people's disposable income, plus larger unemployment tis not going to encourage recovery I would say that is basic economics. Yes things need to be paid back, but lets get back on our feet first Yeah you're right on this. The eat out to help out scheme was great, it encouraged my partner and I to eat out about 3/4 times and build our confidence into venturing out of the apartment again. However, a TV advert and Michael Gove telling me to go back to work, just isn't going to entice me to get on the tube every day. I don't mind going once a week or every other week (as I am now), but not regularly. Especially when you consider that parliament isn't going back yet, but we're all told we should be? For me to go back to work 3+ days a week then really I'd expect: - Cycle lanes on every road in London - Free public transport - Electric scooters set up (I understand they're now legal to rent, but councils still haven't approved businesses to have e-scooters in London) (private hire would be better) - The electric scooters need to be either free or heavily subsidised (it would cost me about £5 each way) - A 'eat out to help out' scheme for working day lunches At that point I might consider going in more often, but as it currently stands I'm really not motivated to go in regularly as it's just not worth the risk/they aren't doing enough to entice me. On tax, I don't mind paying a bit more - but only providing everyone does fairly or the rich get a larger increase. If my tax goes up, but the rich & corporations tax doesn't then I might just leave for Croatia tbh. I can work from home there and pay my taxes to the Croatian government instead, see how they like it. |
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Post by baggins on Sept 1, 2020 11:20:55 GMT
This is what I expected. Every mention of any tax increase will create some form of backlash from anyone who dislikes the current government. They have an impossible task. People are generally happy to pay tax if it is invested, but it's only fair if the wealthy are taxed properly too. We know the Tories will tax the poor and the wealthy less so, in order to keep the 'free market'. The Tories mantra is low tax, but it seems to be low tax for the rich and screw the little guy. Midget tax? Harsh. |
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Post by matealotblue on Sept 1, 2020 11:27:53 GMT
People are generally happy to pay tax if it is invested, but it's only fair if the wealthy are taxed properly too. We know the Tories will tax the poor and the wealthy less so, in order to keep the 'free market'. The Tories mantra is low tax, but it seems to be low tax for the rich and screw the little guy. Midget tax? Harsh. Guess they are not going after the Ewok vote then......🤔 |
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Post by inee on Sept 1, 2020 14:15:33 GMT
Guess they are not going after the Ewok vote then......🤔 I misread Bags post there and thought he said midget sex, had flashbacks to the 70's and having a thing fer the midget in the great rock n roll swindle |
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