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Post by supergas on Oct 26, 2024 6:08:03 GMT
The economic competence of the Chancellor is incredibly important. We are coming up to the most important Budget for years and there are huge warning signs that the mainstream media is also studiously ignoring... The expected increase in capital gains tax and cuts to business asset disposal relief have led to twice the number of businesses voluntarily liquidating this October than did in October 2023 - 1600 and counting with a week to go, way more than any single month in the last thirteen... Borrowing is now £6.7 billion more than the OBR forecast so far this financial year and the OBR point out that's due to Labour's spending since the election. In what *sounds* like positive news, Capital Gains Tax receipts are up 16% in the third quarter - but that's people taking profits before the proposed increase. Even HMRC predicts a 10% CGT hike would lower tax revenues by £2 billion but it's widely expected to happen. The most interesting one is 10-year gilt yields have hit their highest level since Labour came to power and 0.03% higher than after the Truss budget. No media hysteria over it this time, I guess because it's not a Conservative government... All whilst Reeves has confirmed she’s rewriting how she calculates UK debt to allow her to borrow more money - something she specifically ruled out last year. If you think any of these are also "...non-stories..." we can review them in 12 months time... Shane you didn’t speak up when Hunt cut national insurance 3 times in his scorch the earth policy for the incoming gov. Or Brexit ( that you still think is a good idea) that’s cost this country billions. So forgive my raised eyebrows at your deep concern. It’s frankly laughable 🙄 This might surprise you but I and others still think Brexit was a good idea. Trouble is too many people panic about the short term and ignore longer-term. Speaking of the short term, I also fully supported Hunt's NI cuts - with the UK having the highest tax burden since the 1960s any reduction is a step towards growth. Why is this budget different? The Conservatives are supposed to give us a low-tax and low-government spending economy. Because of various factors (some under their control, others completely not) they are handing over to a traditionally high-tax and high-government spending Labour government at the point a Labour government normally hands the economy back to the Conservatives to fix. Do I trust Starmer and Reeves to fix it? Absolutely not. Then again I don't trust either leadership candidate in the Conservative Party to fix it either. Potentially the UK is just screwed for a few years... |
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Post by stuart1974 on Oct 26, 2024 6:25:29 GMT
Shane you didn’t speak up when Hunt cut national insurance 3 times in his scorch the earth policy for the incoming gov. Or Brexit ( that you still think is a good idea) that’s cost this country billions. So forgive my raised eyebrows at your deep concern. It’s frankly laughable 🙄 This might surprise you but I and others still think Brexit was a good idea. Trouble is too many people panic about the short term and ignore longer-term. Speaking of the short term, I also fully supported Hunt's NI cuts - with the UK having the highest tax burden since the 1960s any reduction is a step towards growth. Why is this budget different? The Conservatives are supposed to give us a low-tax and low-government spending economy. Because of various factors (some under their control, others completely not) they are handing over to a traditionally high-tax and high-government spending Labour government at the point a Labour government normally hands the economy back to the Conservatives to fix. Do I trust Starmer and Reeves to fix it? Absolutely not. Then again I don't trust either leadership candidate in the Conservative Party to fix it either. Potentially the UK is just screwed for a few years... Well if we didn't disrupt our economy with such a hard Brexit, then maybe the UK wouldn't have been so screwed. |
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Post by gashead79 on Oct 26, 2024 6:33:27 GMT
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Post by yattongas on Oct 26, 2024 6:56:26 GMT
This might surprise you but I and others still think Brexit was a good idea. Trouble is too many people panic about the short term and ignore longer-term. Speaking of the short term, I also fully supported Hunt's NI cuts - with the UK having the highest tax burden since the 1960s any reduction is a step towards growth. Why is this budget different? The Conservatives are supposed to give us a low-tax and low-government spending economy. Because of various factors (some under their control, others completely not) they are handing over to a traditionally high-tax and high-government spending Labour government at the point a Labour government normally hands the economy back to the Conservatives to fix. Do I trust Starmer and Reeves to fix it? Absolutely not. Then again I don't trust either leadership candidate in the Conservative Party to fix it either. Potentially the UK is just screwed for a few years... Well if we didn't disrupt our economy with such a hard Brexit, then maybe the UK wouldn't have been so screwed. Exactly 🙄! Just remember though those good days are just around the corner with our beloved Brexit about to bare fruit in abundance 😂 The future is bright |
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Post by Gassy on Oct 26, 2024 6:57:52 GMT
Not sure what you’re trying to prove here? From this graph, since the UK left the EU our GDP has slowed compared to the EUs and they’ve now overtaken us. Reality is that we actually had it pretty good, we shot ourselves in the foot for 20/30 years so that there’s hope in 50/60 years we might get back to the same conditions we originally had. And in the meantime, we all have to put up with a worse economy, taxes, infrastructure, services etc. Some plan, that. |
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Post by supergas on Oct 26, 2024 7:58:01 GMT
Well if we didn't disrupt our economy with such a hard Brexit, then maybe the UK wouldn't have been so screwed. Exactly 🙄! Just remember though those good days are just around the corner with our beloved Brexit about to bare fruit in abundance 😂 The future is bright I'm sure both you and stuart1974 know I was referencing covid but I will assume you're just forgetful.... |
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Post by trevorgas on Oct 26, 2024 8:08:28 GMT
This might surprise you but I and others still think Brexit was a good idea. Trouble is too many people panic about the short term and ignore longer-term. Speaking of the short term, I also fully supported Hunt's NI cuts - with the UK having the highest tax burden since the 1960s any reduction is a step towards growth. Why is this budget different? The Conservatives are supposed to give us a low-tax and low-government spending economy. Because of various factors (some under their control, others completely not) they are handing over to a traditionally high-tax and high-government spending Labour government at the point a Labour government normally hands the economy back to the Conservatives to fix. Do I trust Starmer and Reeves to fix it? Absolutely not. Then again I don't trust either leadership candidate in the Conservative Party to fix it either. Potentially the UK is just screwed for a few years... Well if we didn't disrupt our economy with such a hard Brexit, then maybe the UK wouldn't have been so screwed. I would also factor in our poor Productivity which has been endemic for decades and is worsening. Question,do we spend more on total Public Services per capita than other Countries.? |
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Post by yattongas on Oct 26, 2024 8:22:36 GMT
Not sure what you’re trying to prove here? From this graph, since the UK left the EU our GDP has slowed compared to the EUs and they’ve now overtaken us. Reality is that we actually had it pretty good, we shot ourselves in the foot for 20/30 years so that there’s hope in 50/60 years we might get back to the same conditions we originally had. And in the meantime, we all have to put up with a worse economy, taxes, infrastructure, services etc. Some plan, that. Their egos wil never ever let them admit they were wrong on Brexit and boy have a few got a high opinion of themselves 🙄😂 |
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Post by supergas on Oct 26, 2024 8:36:07 GMT
Well if we didn't disrupt our economy with such a hard Brexit, then maybe the UK wouldn't have been so screwed. I would also factor in our poor Productivity which has been endemic for decades and is worsening. Question,do we spend more on total Public Services per capita than other Countries.? That could be measured 100 different ways so you might have to refine the question. Productivity is the key and I can't see any evidence UK public services are efficient... |
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Post by trevorgas on Oct 26, 2024 9:02:10 GMT
I would also factor in our poor Productivity which has been endemic for decades and is worsening. Question,do we spend more on total Public Services per capita than other Countries.? That could be measured 100 different ways so you might have to refine the question. Productivity is the key and I can't see any evidence UK public services are efficient... My point is that since the evisceration of Manufacturing in the UK in the 60/70/80s are we more heavily invested in Public Services which has an indirect effect on Productivity but not as much as Manufacturing which has a direct effect. Our Economy is unbalanced and every additional pound we spend on Public Services is a pound less we spend in delivering better overall productivity. It is a very challenging and complex problem to resolve ,needs long term planning, investment and strategic thinking which we have lacked for decades. |
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Post by gashead79 on Oct 26, 2024 9:18:31 GMT
Not sure what you’re trying to prove here? From this graph, since the UK left the EU our GDP has slowed compared to the EUs and they’ve now overtaken us. Reality is that we actually had it pretty good, we shot ourselves in the foot for 20/30 years so that there’s hope in 50/60 years we might get back to the same conditions we originally had. And in the meantime, we all have to put up with a worse economy, taxes, infrastructure, services etc. Some plan, that. I was giving you a graph to play with. The way you lot are carrying on, you'd expect to see an expanding triangle. But what you actually see is matched trending. Also, as someone who travels a fair bit-currently sat in a European country-its hardly all roses in the garden for our European friends on comparison to us is it? Brexit was ambushed by the EU(understandably) and played on massively by the media and self serving politicians who continually try to undermine the will of the majority. |
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Post by stuart1974 on Oct 26, 2024 9:28:05 GMT
Exactly 🙄! Just remember though those good days are just around the corner with our beloved Brexit about to bare fruit in abundance 😂 The future is bright I'm sure both you and stuart1974 know I was referencing covid but I will assume you're just forgetful.... Your opening paragraph to the post I was commenting on was about Brexit. Imagine the scenario where we either didn't vote out or the country stayed within the single market like Norway. Imagine all that government time and effort spent getting ready for sudden events like covid or Ukraine and not cutting back on pandemic planning or leaving gas tanks empty. Rather than fighting themselves, they actually ran the country. |
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Post by stuart1974 on Oct 26, 2024 9:34:45 GMT
Not sure what you’re trying to prove here? From this graph, since the UK left the EU our GDP has slowed compared to the EUs and they’ve now overtaken us. Reality is that we actually had it pretty good, we shot ourselves in the foot for 20/30 years so that there’s hope in 50/60 years we might get back to the same conditions we originally had. And in the meantime, we all have to put up with a worse economy, taxes, infrastructure, services etc. Some plan, that. I was giving you a graph to play with. The way you lot are carrying on, you'd expect to see an expanding triangle. But what you actually see is matched trending. Also, as someone who travels a fair bit-currently sat in a European country-its hardly all roses in the garden for our European friends on comparison to us is it? Brexit was ambushed by the EU(understandably) and played on massively by the media and self serving politicians who continually try to undermine the will of the majority. Ambushed by Farage, Boris and the ERG, looking for a fight and the hardest of hard Brexits. May tried to keep them sweet for party unity but that backfired on us all. If the terms were known before, do you think we'd still have voted out? |
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Post by trevorgas on Oct 26, 2024 9:44:00 GMT
I'm sure both you and stuart1974 know I was referencing covid but I will assume you're just forgetful.... Your opening paragraph to the post I was commenting on was about Brexit. Imagine the scenario where we either didn't vote out or the country stayed within the single market like Norway. Imagine all that government time and effort spent getting ready for sudden events like covid or Ukraine and not cutting back on pandemic planning or leaving gas tanks empty. Rather than fighting themselves, they actually ran the country. Steady on Stu,we don't want folk actually running the Country 😮 |
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Post by stuart1974 on Oct 26, 2024 10:01:47 GMT
Your opening paragraph to the post I was commenting on was about Brexit. Imagine the scenario where we either didn't vote out or the country stayed within the single market like Norway. Imagine all that government time and effort spent getting ready for sudden events like covid or Ukraine and not cutting back on pandemic planning or leaving gas tanks empty. Rather than fighting themselves, they actually ran the country. Steady on Stu,we don't want folk actually running the Country 😮 I don't think there is any danger of that. 😇 |
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Post by stuart1974 on Oct 26, 2024 10:20:47 GMT
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Post by yattongas on Oct 26, 2024 10:29:57 GMT
Think someone owes me a fiver 🤪 |
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Post by stuart1974 on Oct 26, 2024 10:36:01 GMT
Think someone owes me a fiver 🤪 Probably already donated via PayPal to Stephen's holiday fund. Perhaps you should draw a line, it's not to be sniffed at. 😎 |
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Post by gashead79 on Oct 26, 2024 10:58:21 GMT
I was giving you a graph to play with. The way you lot are carrying on, you'd expect to see an expanding triangle. But what you actually see is matched trending. Also, as someone who travels a fair bit-currently sat in a European country-its hardly all roses in the garden for our European friends on comparison to us is it? Brexit was ambushed by the EU(understandably) and played on massively by the media and self serving politicians who continually try to undermine the will of the majority. Ambushed by Farage, Boris and the ERG, looking for a fight and the hardest of hard Brexits. May tried to keep them sweet for party unity but that backfired on us all. If the terms were known before, do you think we'd still have voted out? Not sure, and this is part of the issue. The terms, the agreement, the risks and benefits were are clouded. Different people and certain business also had different desires and preferred outcomes. Has it affected my family negatively? No. But out circumstances will be different to somebody else's, so it's not a flat argument. The decision was made and voted on. It would be better if all parties cracked on, accepted the democratic result and made the best of it. What we have is sore losers, crybabies, resistors and sh** stirrers on both sides. |
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Post by yattongas on Oct 26, 2024 14:02:17 GMT
Ambushed by Farage, Boris and the ERG, looking for a fight and the hardest of hard Brexits. May tried to keep them sweet for party unity but that backfired on us all. If the terms were known before, do you think we'd still have voted out? Not sure, and this is part of the issue. The terms, the agreement, the risks and benefits were are clouded. Different people and certain business also had different desires and preferred outcomes. Has it affected my family negatively? No. But out circumstances will be different to somebody else's, so it's not a flat argument. The decision was made and voted on. It would be better if all parties cracked on, accepted the democratic result and made the best of it. What we have is sore losers, crybabies, resistors and sh** stirrers on both sides. Absolute a word salad ! 🙄 When you make a mistake , you own up and rectify it . Your family will be paying for it along with the rest of us…..your taxes will be going up . Like I keep saying , some peoples egos just won’t let them admit they backed the wrong horse. |
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