aah. the triumvirate of eclecticism!
Three in a bed. Full of roaches, singed photos of The Margaret, and untested hypotheses? Christ. It would all go up in smoke in seconds. Lovely smoke initially. Then the stink of regret and ambition.
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[Politics] Liz Truss **RESIGNS 20/10/2022**
- Thread starter Ethelwulf
- Start date
Three in a bed. Full of roaches, singed photos of The Margaret, and untested hypotheses? Christ. It would all go up in smoke in seconds. Lovely smoke initially. Then the stink of regret and ambition.
Weststander
Well-known member
Bang to rights. I'll come quietly guv. Just don't put me in a cell with one of those rough working class types
Elvin Crescent/Foredown Drive to a millionaire.
Rab Butler’s edukacion system served you well.
- Apr 5, 2014
- 25,900
As a business owner employing 30+ people, I have to say:
What great announcements for businesses - finally from a proper Conservative administration!
Cut in the basic rate of income tax to 19%
45% higher rate of income tax abolished
Reverse rise in National Insurance
Cancel U.K. wide rise in corporation tax that was due to increase from 19% to 25% tick
Regulation changes so pension funds can increase U.K. investments
In Liz we trust
We're all in this together
Steve Foster
Well-known member
Think you are missing the point of the Mini Budget. It’s main focus was to help businesses which will hopefully stimulate the economy, that will then allow the Government in the Spring to put meaningful fiscal measures for the general public.
How do any of the points you raise help businesses ? Many small business owners I know have the same concerns about this winter as they did last week.
Seasider78
Well-known member
- Nov 14, 2004
- 6,011
On the TV yesterday was someone very pleased with the stamp duty measures as it will help him expand his ‘portfolio’
Why did they not raise stamp duty for 2nd home purchases and make it free for 1st time buyers to ease pressure on the young getting on the ladder.
The cut to the £150k tax rate and bankers bonus cap removal is just a dog whistle to the rich that they have their backs and coupled with the measures for those out of work shows again what this government is all about.
Why did they not raise stamp duty for 2nd home purchases and make it free for 1st time buyers to ease pressure on the young getting on the ladder.
The cut to the £150k tax rate and bankers bonus cap removal is just a dog whistle to the rich that they have their backs and coupled with the measures for those out of work shows again what this government is all about.
How does scrapping the 45% tax bracket help businesses ? Corp tax I get but personal income tax I don't.
Bold Seagull
strong and stable with me, or...
It’s based on borrowing, a lot, when interest rates are only going one way. This is what a developing country might do in panic, not a long standing stable economy. Your ‘hopefully’ is borrowing some chips you can’t really afford and putting them on red. It’s also the wrong message when low income families are genuinely panicked about getting through the winter that you just chuck a load of money at business and the wealthy in the hope they spend it to stimulate the growth. It’s certainly not stable economics.
Let us not forget we have an inflation problem that the BoE are trying to tackle by raising interest rates to curb borrowing and spending to get inflation under control.
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Bold Seagull
strong and stable with me, or...
The theory being those on higher incomes will spend their gain going out and buying stuff I guess.
schmunk
Why oh why oh why?
Good old "trickle down economics"...
Great for them, eh ?
What is wrong with the poorer being given money to go out and spend instead ?
1) But it’s highest in the U.K. when viewed against comparable nations.
https://www.reuters.com/markets/europe/uk-inflation-hits-91-may-2022-06-22/
https://www.newstatesman.com/chart-...lation-rate-2022-vs-europe-g7-other-countries
2) Not true. The pound has also slumped against the euro, just not as much as the dollar. it’s currently 1.11. It dropped another percent last night.
3) What exports? And to where? U.K. productivity is rock bottom and removes competitive edge a collapsing pound might bring.
https://www.bloomberg.com/news/arti...iveness-is-another-catalyst-for-pound-sellers
The U.K. also imports a lot of raw and processed materials which a weak pound increases the cost of. And then there’s the huge drop in exports of goods and services to the worlds biggest trading block and the US not being interested in a trade deal.
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That's not a theory, it's a delusion at best. Money put in the pockets of lower earners on the other hand is guaranteed to be put back into the local economy but in the twisted world of Truss and Kwarteng that would be inflationary.
Horses Arse
Well-known member
Nail on head and they know it- this is about power and who they have to please to remain in power. It is the way of the Tory party, it is only ever about their power.
Until the thickos that voted for this despite suffering the impact realise that and change their ways it will continue and the country will be broken, never to return.
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Horses Arse
Well-known member
You and many like you are missing the point. This is all about rewarding those that keep them in power. It is about the few, not the many. They care nothing about the country, just their own pockets. How much harm does the country have to suffer before this is realised?
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beorhthelm
A. Virgo, Football Genius
- Jul 21, 2003
- 36,014
something that shows is everyone is a bit better off, albeit unbalanced. way some of the commentary is framed, we're all losing money except the top bracket. as the upper tax braket is 150k, also shows distribution of the NI increase, it wasnt the regressive tax everyone claimed.
Half Time Pies
Well-known member
Well I'm a business owner who employs over 50 people and the biggest issue currently thats affecting my ability to grow is that we are struggling to recruit because of high inflation, a tight labour market and the resulting upwards pressure on wages.
Corporation tax wasn't due to go up until April anyway, and I wont need to pay corporation tax for the financial year 2023/24 until 1st Jan 2025! If you think measures like this are going to result in significant business growth between now and the spring then I think you will end up being very disappointed!
Well said.
- Jul 10, 2003
- 27,755
I’ve personally worked with large Sussex based firms of IFA’s.
Their clients are never ‘little people’ or the man on the street. There’s immense wealth in Brighton, Hove and wider Sussex. The average BTL landlord owns 7 let properties, there are 10,000’s folk with the best part of £1m or far more in funds with wealth managers (IFA’s). Many are stinking rich pensioners, think of all the vast homes in the city and county. People write huge cheques to settle their kids student loans, or pay their kids school fees years in advance or gift £300k as a deposit to get their son or daughter on the property ladder.
It’s a different world, far detached from Sussex’s Joe Public.
Ironically, both [MENTION=12697]Steve Foster[/MENTION] and [MENTION=396]WATFORD zero[/MENTION] live in that elite wealthy category
Whhoooaa !
Somebody carried on drinking and posting way past the point of accuracy and common sense last night
As I have pointed out before, I'm no longer in even the traditional conservative's target audience (and haven't been for a significant number of years) and I'm certainly not close to the group that benefited from yesterday's swivel-eyed cabal announcements. But what I really object to is being grouped in with [MENTION=12697]Steve Foster[/MENTION]'s multiple accounts. All the SME's I was involved in actually produced things that were sold and maintained, unlike the aforementioned who basically just runs a bookies dressed in shiny, ill fitting suits
And if I was still in business, I would have judged these announcements as being exceedingly shit for business because of what it will do to the already tanking economy that every business has to operate in.
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As referenced about, this story is starting to bubble up.
https://www.bbc.co.uk/news/uk-england-norfolk-63006755
https://www.itv.com/news/anglia/202...reign-office-spent-1841-at-football-club-shop
What exactly was the foreign office doing spending £4,333 on two trips to the hair dressers and £1,841 at the Norwich Club Shop ?
[tweet]1572986506867888129[/tweet]
Good thread ! A coincidence I am sure