The welfare cuts stinks, it's terrible.
Until then, they were doing fine. Not great, just alright - some good, some bad.
Do you want to discuss boring politics? (9 Viewers)
- Thread starter mrtrench
- Start date
The welfare cuts stinks, it's terrible.
Until then, they were doing fine. Not great, just alright - some good, some bad.
He could gain
Brighton Sky Blue
Well-Known Member
Sky Blue Pete
Well-Known Member
Reform are the guys to unite the country
Minimum wage increase
Planning reform/more houses
Ended the doctors strikes
Free school breakfasts
Cancelled Rwanda
Workers rights
NHS waiting lists down
Brighton Sky Blue
Well-Known Member
Mucca Mad Boys
Well-Known Member
SBAndy
Well-Known Member
It would effectively be making the person ‘adding the value’ responsible for the VAT. Interesting concept, if you then did away with VAT then we’d see major inflation but the difference to peoples’ incomes would cancel out a lot of that.
A thought that I’ve had today is round the idea of a wealth tax (either directly or via CGT/IHT/etc), but then offsetting it against lowering income tax. Wondering where the ‘sweet spot’ is there.
Sky_Blue_Dreamer
Well-Known Member
If pay keeping up with inflation is unsustainable then you've got a failing country. That should be the minimum expectation, not be considered an over the top demand by unions.
Mucca Mad Boys
Well-Known Member
That isn’t how the real world works. The first priority should be keeping inflation in check because that’s the biggest tax on people and businesses. Which often means controlling government spending…
Mucca Mad Boys
Well-Known Member
Wealth taxes are not a new idea and haven’t raised the sums expected wherever they’ve been implemented.
Labour were elected in 1970s to introduce a wealth tax and backed out because it’s administratively difficult and politically poisonous. It almost definitely will not raise the oft quoted £24bn.
All it will do is force out more of our highest tax payers and considering the top 1% lays around 30% of our tax revenues… it’s not a good idea to drive these people out because the burden needs to be filled by ordinary people.
Gary Stevenson is the big champion of wealth taxes in this country and here he is in action in debate:
Sky_Blue_Dreamer
Well-Known Member
So keep inflation in check by effectively paying workers less. Which means they can't by as much stuff as before. So businesses either sell less or have to reduce prices (which admittedly would control inflation) to maintain the number of sales, both of which really hinder growth.
Good plan!
Sick Boy
Super Moderator
At this point, Starmer should do what’s best for the country and aim for the UK to have a deal with the EU that’s as close to the Swiss model as possible.
Of course he won’t do that though because his own political ambitions are more important. A proper leader would highlight the benefits and face down those against it.
Instead, he’ll probably end up signing a one-sided trade deal with Trump that has next to no benefit to the UK.
Of course he won’t do that though because his own political ambitions are more important. A proper leader would highlight the benefits and face down those against it.
Instead, he’ll probably end up signing a one-sided trade deal with Trump that has next to no benefit to the UK.
CovValleyBoy
Well-Known Member
Bring back the Romans.
HS2 would have trains on it by now.
HS2 would have trains on it by now.
Just get the Chinese or Japanese on it, who'd have thought Byng was right.
SBAndy
Well-Known Member
The ‘top 1% pays 30%’ reference is to do with income tax, hence why I posed whether that could be reduced if we increased other areas of taxation.
Ian1779
Well-Known Member
Jobs available for Lee provided by the Labour governmentLee you don’t understand. This government respects your desire to work and become self sufficient. Be grateful and welcome to a world of opportunity.
‘I could end up homeless’: weighing the damage after Rachel Reeves’ welfare cuts
A disabled man considers the potential impact that losing disability benefits could have on his lifewww.theguardian.com
Immediate draft into Zelensky’s army
Organising all the minister freebies - may require 2 people to keep on top of
chiefdave
Well-Known Member
Kind of feels like you've just woken up from a 15 year coma and think you've come up with a plan that hasn't just been implemented for decades and gutted public services and caused a considerable drop in the standard of living for the majority.
What makes you think more of the same will have the desired result?
MalcSB
Well-Known Member
Inflation isn't a tax, is it?
Sky_Blue_Dreamer
Well-Known Member
The fact that this is the case shows exactly where the problem is. There is far too much inequality and the government (and increasingly voluntary organisations) have to try in vain to sort out the mess this inevitably leads behind for the vast majority of society.
If I have a massive banquet for myself and a tiny number of select friends yet there are thousands outside who are starving, the starving people aren't the ones causing the problem.
rob9872
Well-Known Member
Bollocks, they'd take some pleasure away from me enjoying my Foie Gras, Caviar and bottles of Crystal. Peasants.
It's Cristal, pauper!
I think it is unfortunately.
Mucca Mad Boys
Well-Known Member
Then just increase income tax/capital gains, which imo is also a bad idea.
With wealth taxes, you’re taxing something intangible because ‘wealth’ is unrealised. For example, how would homeowners cope if they were taxed on their property ?
It also does not consider things like stocks and shares (the is including in the £24bn figure) which go up and down so how can you tax it? In my own portfolio, the value of my US stocks (S&P 500) went down around 15-20% from late Feb to mid-March. Logistically, how would you even tax that?
Not literally a tax.
MalcSB
Well-Known Member
In the context of government finances, I would take a tax to be this definition (Oxford Languages)
1) a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions.
"higher taxes will dampen consumer spending"
Similar:
levy tariff duty toll excise impost contribution
There is an alternative definition which is not so related to government taking money of citizens to fund state functions
2) a strain or heavy demand.
"a heavy tax on the reader's attention"
A filter then, simplistic possibly but a method that propels wealth to the top of the pile which is then used by those at the top to purchase more assets?
MalcSB
Well-Known Member
Arguably homeowners are taxed on their property - council tax. Plus Stamp Duty when buying a new property as well as VAT on estate agents, solicitors and surveyors fees.
If the value of stocks and shares go down, either the amount of tax paid goes down proportionally - or no tax is paid as a loss has been incurred.
If inflation isn't literally a tax, don't call it one. There will always be some pedantic arsehole like me who will pick you up on it.
Inflation and pay rises are a bit chicken and egg - which comes first.
Increases in energy costs, broadband, mobile phone tariffs are not really a result of pay rises in those industries.
Increases in train fares may well be if large pay awards are made without compensating increases in productivity being part of the agreement.
Captain Dart
Well-Known Member
In effect it is. Inflation benefits those owning physical assets. Keeps the hoi poloi in their place.
MalcSB
Well-Known Member
How does a tin of baked beans costing £1.40 benefit someone with physical assets?In effect it is. Inflation benefits those owning physical assets. Keeps the hoi poloi in their place.
They don't buy that rubbish, that's fodder for the hoi poloi.🫣
MalcSB
Well-Known Member
Lidl baked beans are ok and a lot cheaper than Heinz.