Unless you own a small business, or work in one, in which case it is a terrible budget
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[Politics] The Labour Government
- Thread starter Super Steve Earle
- Start date
Unless you own a small business, or work in one, in which case it is a terrible budget
Right Brain Ronnie
Well-known member
Yep working class party, my arse.
3% less, while boosting the public sector incomes by millions or is it billions, 9.4Billion I believe and without a quibble.
Personally, I don’t feel direct experience of running a business is overly important in the role of chancellor. What’s important is a deep understanding of economics and fiscal policy with an understanding of how policy can influence outcome….which she has in spades and which was demonstrated today.
“I really don't think the Government have thought this through and I fear unemployment will rise as a result.”
I’m pretty confident both they and the OBR have thought this through.
The Clamp
Well-known member
House goblin Sunak, whimpering from the sidelines
“You broke your promises”
Silence!
Now, go and see if your wife needs anything doing in the kitchen before she gets home from the office.
Good girl.
“You broke your promises”
Silence!
Now, go and see if your wife needs anything doing in the kitchen before she gets home from the office.
Good girl.
- Oct 17, 2008
- 15,023
He’s busy representing the lollipop guild, the lollipop guild, the lollipop guild
It is clear now that this is an anti business government. Full employment rights given on day one, inflation busting increases in the minimum wage, increased emp NI, etc make great headlines and the negative impacts will take time to filter through.
However, many businesses will go out of business, whilst the remainder will either reduce wages, reduce numbers employed and/or increase investment in labour saving technology. Perhaps the most obvious sign of Starmer’s contempt is how people who work their balls off starting and running SMEs, often remortgaging their homes many times, are not working people.
To quote someone on here, I was happy (ecstatic in fact) with the election result. I am equally appalled by the direction of travel that we are now on.
However, many businesses will go out of business, whilst the remainder will either reduce wages, reduce numbers employed and/or increase investment in labour saving technology. Perhaps the most obvious sign of Starmer’s contempt is how people who work their balls off starting and running SMEs, often remortgaging their homes many times, are not working people.
To quote someone on here, I was happy (ecstatic in fact) with the election result. I am equally appalled by the direction of travel that we are now on.
Is it PotG?
Thrifty non-licker
A shambles, and a total gamble.
I've no real issue with the tax rises, it was inevitable and I think any sensible Chancellor would have had to do the same. What does scare me is the extra borrowing.
I'd much rather we were paying down our national debt than increasing it. Our annual spend on debt interest is about the same as we spend on Education. That's terrifying.
I'd much rather we were paying down our national debt than increasing it. Our annual spend on debt interest is about the same as we spend on Education. That's terrifying.
Bold Seagull
strong and stable with me, or...
I remember the days when you could announce a budget, wipe £60bn off pension funds, triple interest rates overnight, and have the markets reaching for the toilet paper.
Then the budgets where you could just hide billions from the OBR so they didn’t report how bad it was. Miss those days.
Is it PotG?
Thrifty non-licker
You obviously know more than the respected City retail analyst I was at the game with last evening.
Whilst I accept the 'shambles' is my input, he clearly feels that this IS a big gamble costing small businesses and only time will tell if it pays off.
Still, I'm sure you know better.
Bold Seagull
strong and stable with me, or...
Budgets always rely on an element of growth forecasting - in that respect every budget gambles on what the economy will do.
Clearly you’ve heard a take at a football match then extrapolated that in your own unique way - and I’m the one who knows better even though I wasn’t making a definitive comment on it either way.
For me the budget was better than expected. The VAT on school fees was the equivalent of a 4K pay cut which is a lot of avocados to cut back on. I suppose I break even if I drink 4,600 pints a week though.
But my biggest fear was a slashing of the Inheritance tax allowances which could have had utterly dire consequences ( worst case ) for me at some point. So it was nice that worry has been taken away until 2030.
But my biggest fear was a slashing of the Inheritance tax allowances which could have had utterly dire consequences ( worst case ) for me at some point. So it was nice that worry has been taken away until 2030.
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Is it PotG?
Thrifty non-licker
I didn't 'extrapolate' anything, the chat we had over dinner emphasised the unnecessary risk element.
Thanks anyway.
You are talking about a country which voted for Brexit, which wipes billions off the GDP each month, weakened the pound, pretty much stopped foreign investment in it's tracks, made thousands of business close, relocate or endure additional red-tape or foriegn businesses simply not bother with the UK, has led to sectors having roles which they now cannot fill. If I had to point an 'anti-business' finger at anyone it would not be RR it would be the people who voted to leave.
Bold Seagull
strong and stable with me, or...
I remember people saying ‘back Britain’ and all that, and yet a budget that does actually back Britain, one that can invest in schools, healthcare, transport, one that backs itself that businesses want to be here, that value the talent and business they can do here, and one that backs us to catch up with other countries already investing in themselves.
Cuts and austerity and leaving the EU was never a believe in Britain set of policies. Quite the opposite. The Chancellor by contrast is backing Britain to invest and to grow.
In the private sector successful companies invest in their buildings, their infrastructure, their staff. They’re not happy to be in delapidated property, with ageing infrastructure and lack of investment - which is what people seem to think the country should be operated on.
Qiite. PwC have been releasing some interesting articles recently. There is an article about what businesses need in a country to thrive; tax is just one consideration. A key one was stability: political, economic and other. The UK has absolutely failed on the stability front over the past few years what with the ludicrous number of PMs, chancellors, the ever changing trading envoronment with Brexit. The simple act of stability alone will ensure some growth.
Can’t argue with that!