Super Steve Earle
Well-known member
- Thread starter
- #1,641
Spending power goes down. Economy suffers.
[Politics] The Labour Government
- Thread starter Super Steve Earle
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- Jul 10, 2003
- 27,748
Super Steve Earle
Well-known member
- Thread starter
- #1,643
Like saving, investing and actually planning their retirements when they were 'the others'?
It's a fair point. Maybe a means tested state pension like the means tested heating allowance?
Only if you put up taxes on the wrong people. Give money to poor people, they spend it. Give it to rich people they just send it to the Caymen Islands.
Payback time then, for voting Tory?
KZNSeagull
Well-known member
Everything should be means tested but properly done, not a "you don't claim this so you cannot have this" type thing.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,013
can maybe clear this simple misunderstanding. an event occurs that reduces GDP, then GDP growth (numbers you cite) is relative to that lower number. we dont lose that amount of GDP every year due to brexit, the total GDP is offset by that amount if compared to scenario it didn't happen.
Tubby Mondays
Well-known member
If it helps, as someone that works in the NHS, and did so in 2010 when the mantra of ‘difficult decisions need to be made’ was repeated robotically as an excuse for doing what a newly political party was also always going to I.e throw public sector workers under a bus to pay for tax cuts for people that didn’t need them; give it 14 years and you might be able to stop worrying.This Government have laid down their markers where wages are concerned and I have to say I’ve been shocked.
Nothing that the previous Government did has ever stressed me out as much as I am now, as a business owner in anticipation of the upcoming budget and in particular Angela Raynor’s workers rights bill.
I read an article this week where a Labour supporting CEO of big business said if the Labour Government increase the Minimum wage to £15 then it will be devastating. I couldn’t believe that was on the table…. then I thought about what’s happened in the last few weeks and realised it could be. It really could be.
Add in the proposed increase in minimum wage for under 21’s to match over 21’s and that will be game over for me I’m afraid. I have toiled relentlessly for 12 years- even took a £280k divorce settlement on the chin but I don’t think I will survive the first Labour budget. The lads I’ve got on 20% over minimum wage now will be expecting £18ph if that comes to pass. We just can’t possibly do that.
Who would have thought that after the sheer incompetence of the last Government that it would be the guy I voted in who would potentially destroy me in under 6 months.
I’ve never been so worried.
Maybe it won’t happen but let’s be honest it sounds pretty likely doesn’t it.
Anyway, I’ve enjoyed the political banter on here HWT WZand I will still follow the Albion on here as always
Quite an effective way of means-testing though, as it only needs doing once. What other way had you in mind?
KZNSeagull
Well-known member
HMRC informs all government departments regarding everyone's means. I call it the "rich bastard" indicator. All they would need to give each department is name, address, NI number and "rich bastard" indicator, each department can then decide how to use that information. I would use it for pretty much everything including benefits, state pensions and the NHS (some people won't pay anything, some will pay a little, some will pay a bit more etc depending on how much of a "rich bastard" you are). It will be particularly useful the next time there is a pandemic and the government is handing out money like confetti.
beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,013
it has been floated. rather courageous politically, breaks the whole structure of NI. more obvious and fairer approach will be reducing the considerable tax relief for higher tax rate payers. still be able to save and get a decent pension, just without the full 40-45% bump from the treasury.
- Jul 10, 2003
- 27,748
Source ?
mejonaNO12 aka riskit
Well-known member
I preferred the people before who told us it was all fine. They seemed fun. Who does this guy think he is trying to fix stuff. Booooooo
dsr-burnley
Well-known member
- Aug 15, 2014
- 2,625
The practical difficulty is that to get an inflation proof annual pension of £12k, you need about £250k in your pension pot when you retire. If that amount is reduced by means testing, it's a hard sell persuading people to save for their pension, not because they will be better off, nut because it will save the government money.
They could start means testing state pensions at much higher levels, say a gradual reduction for people with pension pots over say £1m, but then again they already tax them (or are planning to) at 55% so it's already being "means tested" in a different way.
Weststander
Well-known member
According to Goldman Sachs, cumulative over 8 years UK GDP is 5% smaller than without Brexit.
Is it PotG?
Thrifty non-licker
No more illegal migration then, it's now irregular migration he's going to stop by SMASHING the gangs.
Next it will be alternative or slightly quirky.
Hell in a handcart.
Next it will be alternative or slightly quirky.
Hell in a handcart.
pocketseagull
Well-known member
- Dec 29, 2014
- 1,360
Starmer is using the preferred term of the audience he's addressing. Took literally seconds to look this up. We're an outlier by criminalising asylum.
Is it PotG?
Thrifty non-licker
FTSE shares in banks took a mauling after the hints that Starmer & Reeves are going to enhance the autumn chill with CGT and IHT hits.
Happy days.
Happy days.
There is absolutely stacks of money floating around. The crime is that governments of both colours have allowed the mega rich to transfer it from the working and middle classes and now hoard it over the last 15-20 years. They will now have the audacity to tax us even more to cover the fact that they've let the mega rich snaffle away all the cash, leaving gaping holes in the budget whilst the mega rich will continue to suck up even more of the countries assets.