[Politics] The Labour Government

[beorhthelm]

The hospitality industry is already on its knees, this is hardly going to help…..is it?

seem busy enough despite the high prices everywhere i go.

 

[Machiavelli]

Really?

Sitting here watching the ITV early evening news (don't judge - my mum has the remote control), and there seemed to be a long list of business groups condeming the now-expected rise to employers' NI.

I've just typed "CBI NI rise" into google and it led me to this BBC piece which looks broadly similar...

National Insurance fears spark business backlash

The government is facing criticism by businesses over a potential tax rise that would fall on employers.

www.bbc.co.uk

I said that they were relatively level-headed about the government.* Of course they're going to whinge if their NICs increase but they're also happy about a stable environment and a government with an agenda and plan for growth -- all of which was evidenced by yesterday's investment summit where there were pretty big commitments made. On the whole, they've been relatively supportive. I actually take the point made by @Is it PotG? and there are certain sectors within hospitality (eg music venues) that can ill-afford increases in taxation. But there might be certain offsets that come in the budget.

Good luck with your mum and enjoy the fireworks with the remote control. FWIW, I witnessed my Dad die over c9 months recently and it's obviously a really difficult experience. I also think he had dementia, but the medics wouldn't diagnose it. He definitely had delirium, which was vivid. I found speaking less about day-to-day life and just being more physical, eg holding hands, etc worked better.

Edit: *I didn't say they were chill about it either.

 

[amexer]

It’s amazing how so many people on here feel such sympathy for billionaires, private schools and large corporations. Then express surprise that a Labour government might pick on them.

What next, I wonder, siding with the racist rioters because it was EVIL STARMER who locked them up?

I dont think anybody has sympathy for billionaires. Just points made that they make an important contibution to total tax revenue. Not sure but think top 10% of earners contribute 60% plus of total tax revenues

 

[Randy McNob]

When they gonna start prosecuting those who profitted from Covid contracts?

 

[Chicken Run]

seem busy enough despite the high prices everywhere i go.

Well if they keep giving out all the freebies to the Labour Cabal then the bubble is bound to burst

 

[Randy McNob]

I dont think anybody has sympathy for billionaires. Just points made that they make an important contibution to total tax revenue. Not sure but think top 10% of earners contribute 60% plus of total tax revenues

No they don't you're conflating top rate tax workers with the super rich. pro rata or % of wealth they pay sod all tax especially when hey have more money than they would ever know what to do with it, so they hoard it and squirrel it away in tax havens. Money that should be recycled back into the economy

 

[Bry Nylon]

I suspect that once the budget takes place, the focus on Labour will shift towards their policies, the growth agenda and where they can start delivering on repairing public services

Yes. That’s exactly what will happen

 

[chip]

I would also reinstate the two panic NI cuts that the previous Government introduced a few months back in January and April of this year as they failed completely in the objective of keeping them in powr.

That's worth over £10B a year straight on the bottom line. Seems fair, sensible and simple

I agree with that. Wasn't there a plan by the last lot to raise NI further to pay towards adult social care?

 

[WATFORD zero]

I agree with that. Wasn't there a plan by the last lot to raise NI further to pay towards adult social care?

No, they just kept cutting it

 

[BenGarfield]

It's all very well saying that, but it's not like these billionaires won't be leaving behind Talk TV, GB News and Fleet Street in the country, plus it'll only hand more power to the super rich who do stay.

Well introduce policies to ensure that there are a variety of media outlets as suggested in Corbyn`s 2019 Manifesto






;’p more diversity in the media as suggested in Corbyns 2019 manifesto

 

[BenGarfield]

Huh?
She didn’t know anything about politics. She is a f***ing catastrophe. A calamitous dumpster fire of a human that in a few weeks managed to trash the economy for years.

She needed to be stopped.

Withstood the machinations of the city? Are you on glue!

Take a look at this interesting discussion berween two professors of economics which backs up my view - presumably they are on glue too?



The summary of the above is:-

1. The issue was fiscal and monetary policy not working in tandem
2. The outcome could have been predicted by an MMT framework
3. That eventually the UK government through the central bank intervened to keep interest rates low
4. The Central bank would have been forced to follow government policy if Truss et al hadn't "blinked first"
5. Highlights that this could be a false flag for policymakers worried about spending

People​

 

[Bozza]

I would also reinstate the two panic NI cuts that the previous Government introduced a few months back in January and April of this year as they failed completely in the objective of keeping them in power.

That's worth over £10B a year straight on the bottom line. Seems fair, sensible and simple

But having painted themselves into a corner with their manifesto, they can't/won't, can/will they?

They can argue semantics on the expected employer NI raise, but pushing employee NI back up - and they probably should, as you say - would be a direct breaking of a manifesto promise.

 

[PILTDOWN MAN]

The hospitality industry is already on its knees, this is hardly going to help…..is it?

Some people only see big business not the major employers in this country, small businesses. Those that have struggled for years.

 

[PILTDOWN MAN]

seem busy enough despite the high prices everywhere i go.

Blimey

 

[LamieRobertson]

But having painted themselves into a corner with their manifesto, they can't/won't, can/will they?

They can argue semantics on the expected employer NI raise, but pushing employee NI back up - and they probably should, as you say - would be a direct breaking of a manifesto promise.

Would they care?

 

[beorhthelm]

Take a look at this interesting discussion berween two professors of economics which backs up my view - presumably they are on glue too?



The summary of the above is:-

1. The issue was fiscal and monetary policy not working in tandem
2. The outcome could have been predicted by an MMT framework
3. That eventually the UK government through the central bank intervened to keep interest rates low
4. The Central bank would have been forced to follow government policy if Truss et al hadn't "blinked first"
5. Highlights that this could be a false flag for policymakers worried about spending

People​

MMT economist and conclusion its a conspiracy... yep, sounds like they're on glue.

a bond price crisis in response to uncosted fiscal policy is exactly what normal economist predict: spend too much, the cost of government borrowing goes up. funny how MMT goes, oh we knew that would happen too, but you can still spend as you please, because *handwaving* reasons.

 

[The Clamp]

Take a look at this interesting discussion berween two professors of economics which backs up my view - presumably they are on glue too?



The summary of the above is:-

1. The issue was fiscal and monetary policy not working in tandem
2. The outcome could have been predicted by an MMT framework
3. That eventually the UK government through the central bank intervened to keep interest rates low
4. The Central bank would have been forced to follow government policy if Truss et al hadn't "blinked first"
5. Highlights that this could be a false flag for policymakers worried about spending

People​

I will have a look at that. Genuinely. Thank you. Happy to see another viewpoint.

 

[Weststander]

But having painted themselves into a corner with their manifesto, they can't/won't, can/will they?

They can argue semantics on the expected employer NI raise, but pushing employee NI back up - and they probably should, as you say - would be a direct breaking of a manifesto promise.

So won’t do it. Haven’t heard one commentator say they will.

 

[Weststander]

I agree with that. Wasn't there a plan by the last lot to raise NI further to pay towards adult social care?

In 2021 a 1.25% levy from pay was proposed. Labour/LibDems/FSB/GenerationRent wenf apoplectic, saying it would unfairly cost 25m workers.

So abandoned.

Carrying on a now 27 year timeline of commissions and reports on social care, all then effectively ignored by governments on cost grounds and/or politically unpopular.

 

[Machiavelli]

In 2021 a 1.25% levy from pay was proposed. Labour/LibDems/FSB/GenerationRent wenf apoplectic, saying it would unfairly cost 25m workers.

So abandoned.

Carrying on a now 27 year timeline of commissions and reports on social care, all then effectively ignored by governments on cost grounds and/or politically unpopular.

Yup. Dilnot is rightly apoplectic about how this has been continuously ignored by most politicians and parties (there are honourable exceptions). If Labour are serious about addressing the long-term challenges this is one that they need to tackle in this parliament.