Politics, politics, politics (so long and thanks for all the fish)

Silly McSilly Face said:

I was 8 years old when Thatcher left office, although most of that time wasn't spent in the UK (i was also born abroad). I think its pretty well established and agreed that Thatcher presided over probably the biggest economic and societal change the country had seen since the industrial revolution. She closed down traditional British industry and focused growth in services. Whether what she did was a good thing is obviously still a matter of fierce debate. My parents can't stand Thatcher: Dad's been a pretty much life long member of the Labour Party and Fabian Society so definitely didn't learn it from them

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Yes indeed, a topic of fierce debate. I was a teenager. I remember it very, very well. I agree with what you've said in this post 100%. As you said (and to repeat myself LOL) this is a topic of fierce debate, and probably best left alone here (at least for the time being ). Thanks for answering BTW, I was genuinely interested as I think it is an important factor with regards to how one might hold their opinion.

markysimmo said:

and Net Zero and Illegals and we're quids in !!

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Have you ever met an Illegal? Do you know what they look like?

My uncle was an Illegal. He was a WASP. He was a Desert Storm war hero. He could have been an EDL poster boy. He fell in love. He overstayed his tourist visit. He spent a decade working bloody hard in black market roles. Fixing you car. Doing your gardening. One day his heart seemed a bit funny. He wouldnt let anyone call an ambulance or take him to hospital, because he knew he'd be arrested. The next day he died of a heart attack.

That's what Illegals look like.

Le Pen is a thieving Cnut then.......

So much for the right being the truth and for the people. Wonder if Musk caught out the thievery etc.....*sniggers

Nothing sums up the sh** show of British government than the letter from energy companies and campaigners today pointing out that the reason Heat Pump boilers are proving unpopular is their higher cost, due to.....wait for it....."Green levies".

monkeybarry said:

Historic highs?! Do you write for the mail?

Our taxes are higher than the US, but lower than EU 14 and G7avg.

Interestingly, most western type economies have had a steady increase in tax rates post WWII.
The UK has a seriously volatile rate.
The current rate are similar to all rates since WWII, except for the 90s. The lower tax periods all look like reactions to recession, but built on debt.

The UK’s tax burden in historical and international context - Office for Budget Responsibility

In our March 2023 Economic and fiscal outlook, we forecast that the UK's tax burden was set to rise to a post-war high. This box considered the UK's tax burden in international and historical context.

obr.uk

We have to accept that the current societal set up is no longer possible. It's built on post war economics and then boomers era economy. As are the fiscal rules we create.

Look at many of those factors for "living standards" - they are financial. They don't focus on happiness, they focus on wealth being the measure of living standards, with housing being a core part of it - you can't use equity in Tesco.

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Never came back on this. You can't really compare the UK's overall tax burden with those other economies as the UK is the world's no. 1 processor of offshore transactions. We still clear the majority of euro-denominated transactions in the world, despite not being in the EU anymore, just for example. Many international free-trade zones are governed by English law and therefore you get these huge international transactions and deals being done that contribute to UK GDP in terms of activity, but aren't really occurring here and therefore aren't producing direct tax revenue. The article alludes to the similar factors contributing to Ireland's low "tax burden" ratio.

Direct and indirect taxation of British people and businesses is, however, rising and one factor is that wage growth has pushed many into the high income tax bracket, which hasn't been adjusted according to wage growth and inflation.