Do you want to discuss boring politics? (17 Viewers)

[MalcSB]

They could have whacked the 2p back on NI that the previous government put on. Shot themselves in the foot promising no tax increases but even then they could have, with ONS backing, used the 'black hole' as an excuse. Say it was totally uncosted and they have no choice.

Sure people would be mad but as has been said if it works out we're only in year one. It would be long forgotten as long as people feel better off when the next election comes around.

Did you mean OBR, not ONS?

 

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[MalcSB]

Got things the wrong way round. Needed to focus on growth first, if successful then tax revenues rise anyway which may have mitigated some of the requirements to increase some taxes. Instead implemented tax rises first which are likely to suppress growth, especially employer NIC*

Also as has been said numerous times before, it was a massive error to try to talk down the economy following the election, which sucked all the post election momentum out of it. Shouldve just focussed on lack of public services investment etc under the Tories messaging and the requirement to fix this which will cost everyone unless we improve growth and productivity

*this was only required due to silly pre election promise not to increase main tax generators

That would have been a very Tory way of going about things though.

 

[Nick]

They could have whacked the 2p back on NI that the previous government put on. Shot themselves in the foot promising no tax increases but even then they could have, with ONS backing, used the 'black hole' as an excuse. Say it was totally uncosted and they have no choice.

Sure people would be mad but as has been said if it works out we're only in year one. It would be long forgotten as long as people feel better off when the next election comes around.

Tenner says Im not better off.

 

[duffer]

That would have been a very Tory way of going about things though.

And hence, would almost certainly not have worked.

If we want better services then we're going to need to pay for them.

And you're not going to get growth by sticking your thumb in the eye of our biggest and nearest trading partner based on a total fiction (oven ready deal, oh dear).

I don't want to redo the Brexit argument, but Labour's absolutism on Europe is madness, and a milquetoast, centrist approach to redistributive taxation isn't going to work either.

No one votes for the OBR or the Bank of England; we need a more imaginative and braver approach to economics and taxation than we're going to get from either the Tories or Labour, if we're going to dig our way out of this hole, imho.

 

[duffer]

Tenner says Im not better off.

You certainly won't be if you keep sticking a tenner on things that you can't be sure about.

It's a reasonable bet, that said...

 

[fernandopartridge]

Provide better services first and make people feel more willing to pay for them. You can't put taxes up today on the promise of better services tomorrow.

 

[Sky Blue Pete]

No chance the press and twotterati won’t give the country a chance

 

[MalcSB]

Provide better services first and make people feel more willing to pay for them. You can't put taxes up today on the promise of better services tomorrow.

It appears they can,

 

[MalcSB]

Bailey warns employer tax hikes may delay interest rate cuts

Bank of England Governor Andrew Bailey warns that employer National Insurance hikes could delay future interest rate cuts, as businesses face rising costs and potential job losses.

bmmagazine.co.uk

 

[MalcSB]

Let’s grow the economy

https://www.theguardian.com/business/2024/nov/18/budget-tax-rise-insol