Generally people are. If you target a tax and say for example "we are going to increase ni by x amount but all extra money raised will be spent on the nhs and adult social care" the public is supportive of this.I was up for paying more tax if it goes to the right places before this and I will be after.
Yep the multipliers show that the jrs money is a form of stimulus as well.It really doesn't - the way the 'cost' of the JRS has been described is utterly misleading. It is spending money directly in to the economy and a lot of it will come back to the treasury in any case (people pay income tax on the 80% subject to thresholds for a start). I think it's reasonable to live with it, this is an unprecedented crisis akin to a war type impact on the economy. We need solutions similar to the postwar consensus to stimulate the economy, not the tired austerity orthodoxy of post financial crisis.
It's quantitative easing at a consumer level where it really ought to have been after the financial crisis, it's funny but I don't hear anybody crowing over the QE to banks which has so far cost £645bn to very little economic benefit to the majority (look at the stagnation of wages across the public and private sector) . The headline (misleading as described above) figures for the JRS are chicken feed in comparison.
Not that it really matters but millennials were born between 1981 and 1996 and I left school in 2000.
I didn't think I was a millennial? More gen yThought the early 80s was more Gen X? No worries
I didn't think I was a millennial? More gen y
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Yep morally bankrupt but the loans were only finally repaid recently
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Pass me the avocado toast thenYou are. Lap it up.
It really doesn't - the way the 'cost' of the JRS has been described is utterly misleading. It is spending money directly in to the economy and a lot of it will come back to the treasury in any case (people pay income tax on the 80% subject to thresholds for a start). I think it's reasonable to live with it, this is an unprecedented crisis akin to a war type impact on the economy. We need solutions similar to the postwar consensus to stimulate the economy, not the tired austerity orthodoxy of post financial crisis.
It's quantitative easing at a consumer level where it really ought to have been after the financial crisis, it's funny but I don't hear anybody crowing over the QE to banks which has so far cost £645bn to very little economic benefit to the majority (look at the stagnation of wages across the public and private sector) . The headline (misleading as described above) figures for the JRS are chicken feed in comparison.
What's wrong with them raising tax to pay for it?
Pass me the avocado toast then
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Pass me the avocado toast then
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If the tax rate keeps public spending up, that works anyway.
Nearest waitrose is in Kenilworth and everytime us cov folk go to Kenilworth the towns folk bring out the pitchforksWaitrose Heston brand for me
Thought the early 80s was more Gen X? No worries
Nearest waitrose is in Kenilworth and everytime us cov folk go to Kenilworth the towns folk bring out the pitchforks
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Im 81 and was originally Gen X, as Millenial originally meant “not 18 at the turn of the millennium”, then they changed it to 1980. I still class myself as Gen X cos it sounds cooler
They couldn’t find the right balance for the “lockdown” as over 40,000 deaths prove. What gives you the confidence that they’ll get the next phase right? Especially given that they’ve already failed by jumping the gun and starting relaxing the lockdown much earlier in the curve than countries with better figures than us.Which is why we have to find the right balance as being locked down forever will be much worse in the months to come
Im 81 and was originally Gen X, as Millenial originally meant “not 18 at the turn of the millennium”, then they changed it to 1980. I still class myself as Gen X cos it sounds cooler
So does Gen Z but I teach them
Good innings that. 81.
Anyway who's up for a drive to Skegvegas.
Not you astute
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The club that used to be in LeamI was hoping for a night in Smack
The club that used to be in Leam
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Who are we going to pay it back to this time?Yes and wasn't our war debt to the Americans only paid off fairly recently too?
We can take time to pay these things back. Tories just choose austerity instead.
Will interest rates remain as they are ?You’re robbing Peter to pay Paul though. We’re about to have TWO of the biggest recessions in our history back to back FGS! Taking money out of people’s pockets to meet some arbitrary timeline for paying back debt that’s cheaper to service than any point in history is downright insane.
Seems like the penny is finally dropping
The address to the nation at 7-00pm on a Sunday evening was a flagrant grandstanding excercise attempting to avert scrutiny and appear presidential.He makes some good points. Unfortunately Cummings is running a PR exercise and has no interest in parliamentary process or scrutiny.
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Most of that will be owed to the bank of england who are owned by the uk government.
You can slowly pay it off as per the slavery reparations which we have only just paid off.
Also if you actually stimulate the economy you increase the tax rate more.
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Thought the early 80s was more Gen X? No worries
He’s right. You had to be growing up in the 80’s to be gen X rather than born in the 80’s. The millennials received such a bashing during the culture wars that nobody thinks they’re a millennial.
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The address to the nation at 7-00pm on a Sunday evening was a flagrant grandstanding excercise attempting to avert scrutiny and appear presidential.
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