[Politics] The Labour Government

Giraffe · 2024-12-18T10:17:22+0000

As a result of the announcements in the budget our company has done the following:

Cut back the planned pay increase
Increased prices to customers
Cut back additional recruitment

I am sure that in large companies at least this will be happening across the board leading to higher unemployment, inflation and poor economic growth.

A smaller business, sole trader, may take the view that they absorb the extra National Insurance and suffer more themselves, but in the big corporate world that isn't an option. That's your problem.That's what a good Government would have realised and not done this.

The Ers National Insurance increase was foolish. They'd have actually been better putting it on corporation tax.

It was a poor budget and this is now being proven out.

Uncle Spielberg · 2024-12-18T11:10:32+0000

2029 general election
Con 6 to 4
Lab 7 to 4
Reform 9 to 4
Lib Dem 50 to 1

abc · 2024-12-18T12:36:25+0000

Mustafa II said:
Not really bad or good news, just news.

Surely as a result of the minimum wage increase and employer NI contributions. This, coupled with the wage growth news, will mean that interest rates will not go drop again immediately... which can also be seen as a positive thing.

It's bizarre having a government who is being sensible with the economy, something that we haven't experienced in decades under Tory leadership.

The bizarre thing is your post! This is like saying, a year or two go that, Liz Truss was a misunderstood economic genius and Boris Johnson was ousted due to his honesty and integrity

Kinky Gerbil · 2024-12-18T12:37:08+0000

Bozza said:
On semi-related news, did anyone see the start of the ITV News at Ten last night?

Before I'm judged too harshly, I'll briefly say that I rarely watch any TV news, let alone the ITV version. I'd had the Fred and Gino programme on in the background, and hadn't got round to turning it over when the news started.

The WASPI controversy was the lead story - frightful look for Starmer and Rayner, BTW - and Peston was in the studio to provide some commentary.

Was he drunk? After rambling along a bit, he finished by saying something like, "What next from this Labour government - promising to drown all puppies and kittens for Christmas?" The newsreader nearly lost it just as he had to transition to some serious story involving death or something/

He seems annoyed by it

Bozza · 2024-12-18T12:43:31+0000

Kinky Gerbil said:
He seems annoyed by it

I was hoping I could find a video of it - I assumed someone would have shared it by now - but I can't find anything.

However, others have mentioned it. so at least I know I wasn't imagining it!

Herr Tubthumper · 2024-12-18T13:05:12+0000

Giraffe said:
I work for a business backed by Private Equity as most large businesses are. In short we have to maintain or grow our profit. That's the model or the investment doesn't continue and getting new investment will be difficult.

When the budget was announced in October we were preparing our budget for 2025. As a result of the announcements in the budget we have done the following:

Cut back the planned pay increase
Increased prices to customers
Cut back additional recruitment

I am sure that in large companies at least this will be happening across the board leading to higher unemployment, inflation and poor economic growth.

A smaller business, sole trader, may take the view that they absorb the extra National Insurance and suffer more themselves, but in the big corporate world that isn't an option. That's your problem.That's what a good Government would have realised and not done this.

The Ers National Insurance increase was foolish. They'd have actually been better putting it on corporation tax below the EBITDA line so that it was a cash hit more than a profit hit. Suspect that would have led to less of an impact.

It was a poor budget and this is now being proven out.

And one of my former UK clients announced a 450 million investment program in the UK a few weeks ago. They're quite big, and well known, in the 'big corporate world'. The budget is not stopping them. I'm merely pointing this out for some balance.

As for passing on costs to customers......your company said in a communication this was due to the new rent reforms...not the budget?

Chicken Run · 2024-12-18T13:12:12+0000

Herr Tubthumper said:
And one of my former UK clients announced a 450 million investment program in the UK a few weeks ago. They're quite big, and well known, in the 'big corporate world'. The budget is not stopping them. I'm merely pointing this out for some balance.

As for passing on costs to customers......your company said in a communication this was due to the new rent reforms...not the budget?

This is good news particularly with the landscape post Brexit!

Is it PotG? · 2024-12-18T13:12:24+0000

https://www.theguardian.com/busines...s-in-budget-for-decision-to-close-some-stores

portslade seagull · 2024-12-18T13:16:57+0000

Herr Tubthumper said:
And one of my former UK clients announced a 450 million investment program in the UK a few weeks ago. They're quite big, and well known, in the 'big corporate world'. The budget is not stopping them. I'm merely pointing this out for some balance.

As for passing on costs to customers......your company said in a communication this was due to the new rent reforms...not the budget?

Probably the only company which seems a bit odd that you know them. Everyone and I mean everyone I've spoken too are now tightening their belts and increasing prices. The honeymoon period for Labour is well and truly over

Bozza · 2024-12-18T13:20:09+0000

Herr Tubthumper said:
And one of my former UK clients announced a 450 million investment program in the UK a few weeks ago. They're quite big, and well known, in the 'big corporate world'. The budget is not stopping them. I'm merely pointing this out for some balance.

As for passing on costs to customers......your company said in a communication this was due to the new rent reforms...not the budget?

AstraZeneca?

That was announced in March, under the Tories:

Liverpool: New £450m vaccine manufacturing hub announced in Budget

The plans will strengthen the UK's resilience for future health emergencies, Jeremy Hunt says

www.bbc.co.uk

Now on hold due to lack of concrete support from the Labour government:

AstraZeneca: 450 million pound investment in UK under review amid talks with govt

London-listed drugmaker AstraZeneca said its plan to invest 450 million pounds ($576.7 million) in Britain for vaccine research and development, announced in March, is under review while talks with the government over incentives continue.

uk.finance.yahoo.com

Herr Tubthumper · 2024-12-18T13:31:12+0000

Chicken Run said:
This is good news particularly with the landscape post Brexit!

It's very good news and comes with a wide range of jobs as well. It's a UK HQed company and they have also announced significant investment in the US as well.

Chicken Run · 2024-12-18T13:40:05+0000

Herr Tubthumper said:
It's very good news and comes with a wide range of jobs as well. It's a UK HQed company and they have also announced significant investment in the US as well.

It’s not all bad news right

Chicken Run · 2024-12-18T13:41:44+0000

Bozza said:
AstraZeneca?

That was announced in March, under the Tories:

Liverpool: New £450m vaccine manufacturing hub announced in Budget

The plans will strengthen the UK's resilience for future health emergencies, Jeremy Hunt says

www.bbc.co.uk

Now on hold due to lack of concrete support from the Labour government:

AstraZeneca: 450 million pound investment in UK under review amid talks with govt

London-listed drugmaker AstraZeneca said its plan to invest 450 million pounds ($576.7 million) in Britain for vaccine research and development, announced in March, is under review while talks with the government over incentives continue.

uk.finance.yahoo.com

Oh

Chicken Run · 2024-12-18T13:43:12+0000

UK inflation rise - what does it mean for me? https://www.bbc.com/news/articles/c6230y85k06o

Rdodge30 · 2024-12-18T13:45:11+0000

portslade seagull said:
Everyone and I mean everyone I've spoken too are now tightening their belts and increasing prices. The honeymoon period for Labour is well and truly over

Exactly this.

In fact NSC is the only place where I have heard anyone speak in favour of the budget

BLOCK F · 2024-12-18T13:52:33+0000

Rdodge30 said:
Exactly this.

In fact NSC is the only place where I have heard anyone speak in favour of the budget

No surprise there!

nicko31 · 2024-12-18T14:02:06+0000

Uncle Spielberg said:
2029 general election
Con 6 to 4
Lab 7 to 4
Reform 9 to 4
Lib Dem 50 to 1

Easy to forget LD's have 25 times more MP's than Reform, yet our insane media give Reform 25 times more coverage.

Bry Nylon · 2024-12-18T14:06:17+0000

nicko31 said:
Easy to forget LD's have 25 times more MP's than Reform, yet our insane media give Reform 25 times more coverage.

LDs have got 125 MPs...?!
Where did you get that number from? Rachel Reeves?

LamieRobertson · 2024-12-18T14:09:09+0000

nicko31 said:
Easy to forget LD's have 25 times more MP's than Reform, yet our insane media give Reform 25 times more coverage.

Of course 25 times more coverage is a figure plucked out of the air to suit …but maybe part of the issue is down to the LD’s themselves…who are they ..what do they stand for ….whos the leader, a bungee jumper?

BLOCK F · 2024-12-18T14:18:38+0000

nicko31 said:
Easy to forget LD's have 25 times more MP's than Reform, yet our insane media give Reform 25 times more coverage.

Possibly because very few people are interested in what they have to say and as Lamie said, who are they and what are they all about?

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