parklane1
Tony Galvin
I can assure you my friend that it is reality, and i am neither left or right in my thinking just talking about experience. One of the reasons i have heard put forward by the patch work government is exactly that.
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The Budget
- Thread starter southstand1882
- Start date
I can assure you my friend that it is reality, and i am neither left or right in my thinking just talking about experience. One of the reasons i have heard put forward by the patch work government is exactly that.
parklane1
Tony Galvin
One of the reasons for dropping the rate i have heard both ministers and the so called rich analysts put forward is that it would encourage the better off to pay what they owe. As i said earlier from my own experience it will not encourage anything like that.
inkpenspur
Allan Nielsen
I think another reason is that the 50% tax rate has been wholly ineffective in bringing in additional revenue... certainly nothing like the amount that Chancellor in place at the time expected
Labour knew that the 50% rate wouldn't raise any money. They knew it would cause huge political problems for the Conservatives when they replaced them.
http://danieljmitchell.wordpress.com/2011/11/06/a-lesson-on-the-laffer-curve-for-barack-obama/
inkpenspur
Allan Nielsen
Just another cynical political legacy dropped onto the incoming government by Labour then? We'll do this because it will cause political problems in the future, not because it is economically sensible and beneficial...
parklane1
Tony Galvin
Of course it has to lead to a hiding of money to avoid the 50% rate i have not said anything different, my point is that dropping it to 45% is not going to encourage those who have found a way around it to all of a sudden pay what they owe, as some ministers have said it will.
Leeds Spur
Banned
=D>=D>=D>=D>
Wayne Rooney, and most Spurs players probably, pay fudge ALL TAX. It's all image rights and loans from shell companies that are offshore these days....just look at Rangers! But they are feited....whilst people who play by the rules and work hard to earn a decent salary, (they aren't anywhere near millionaires!!!) are the enemy?
brick c*nt country full of envious w*nkers.
Leeds Spur
Banned
Someone should ask the Labour front bench who is a higher rate tax payer, and who are millionaires......they are equally as 'posh' as the Tories!!
David Milliband the latest **** to have a company and only paying corporation tax on dividends and not full PAYE, all whilst lecturing on the greedy bankers, (who as ppeople have said is any higher rate tax payer)
We ARE all in the together....I pay 10 times the income tax as the average UK earner, but only earn 4 times the average.....I don't mind it to be honest.....but lets stop this flimflam that the poor are paying for the mistakes of the rich.
David Milliband the latest **** to have a company and only paying corporation tax on dividends and not full PAYE, all whilst lecturing on the greedy bankers, (who as ppeople have said is any higher rate tax payer)
We ARE all in the together....I pay 10 times the income tax as the average UK earner, but only earn 4 times the average.....I don't mind it to be honest.....but lets stop this flimflam that the poor are paying for the mistakes of the rich.
Leeds Spur
Banned
We had the highest tax rate in the G20...the countries we are competing against to create a new export led economy.
They are targeting ?ú1 TRILLION in exports by 2020, a target that requires exports to grow by 10% per annum from now until then, this is something we HAVE acheibed in the past 2 years, so it's possible.
In order to do this we need to attract foreign direct investment....the like of Nissan, Jaguar Landrover, Glaxo and BAE who have all been in the news recently, to either invest in UK factories or commit to staying here. That's why corporation tax is coming down.
Why are Facebook and Google based in Ireland and not London, which would be much more sensible for companies such as theirs? 12% corporation tax, that's why!!!
We need to make the UK an internationally competitive country to trade with and in....this government is addressing this issue.
We led the world in FDI under the last Tory government and we will do so again.
The Tories didn't kill our industrial base, Labour did.....the statistics prove it. They fudged off the corporations at the expense of a massive client state built on welfare and debt.
Well the money has run out and I for one am excited that we finally have a chancellor who doesn't give a fudge about the headlines and does what's right.
We do not have a Tory Government, we have a Coalition that is effectively Continuity Labour: Public spending up, borrowing up, supine kowtowing to the EU, obsession with "Climate Change" scam etc.
Leeds Spur
Banned
Borrowing is down actually.
And you can't stop an oil tanker on a dime.......what the government is doing is the most sensible approach, otherwise we'd crash into a severe recession.
Debt will peak at 76% of GDP.....well below most G20 countries.
The green agenda has been quietly dropped IMO.....that's not to say wind energy isn't a useful mix to have in the long term.
It seems you're one of the hardcore 10% that puts ideology above pragmatic results!
Danishfurniturelover
the prettiest spice girl
It really is great to have him back his posts are so bang on every time.
Borrowing is a tricky one as it depends on whose figures you are using.
I agree with the oil tanker analogy, though after 2 years I'd expect the wheel to have turned slightly!
Wind farms are still being approved, despite the fact that are, by any objective measure, useless.
The PM's father-in-law gets ?ú1,000 per week in subsidies for his windmills.
The contribution of wind power to the world's power generation, to the nearest 1%, is 0%.
Danishfurniturelover
the prettiest spice girl
I agree welfare is to high but the EU does not just cost us money in what we pay in but it costs us money by making us uncompetitive and by having regulations that have a negative impact on business.
inkpenspur
Allan Nielsen
I'm torn as to whether the EU is on the whole good for UK PLC or bad... some of the regulations do have an impact on our global competitiveness outside of the EU, however, I also believe we should attack the 'low hanging fruit' (to coin a cliche).. by far the biggest proportion of the tax take gets spent on welfare, and can be addressed more quickly, and therefore have a faster impact than renegotiating EU treaties/pulling out which would take years. Now that I've twigged the change of user name I should have realised you'd have a bit of a downer on the EU
yiddo2786
Steed Malbranque
I've missed you. And New Labia made me laugh out loud.
Leeds Spur
Banned
Before the 1950's the % of global energy produced by Nuclear was less than 1%!!
The UK has the best offshore wind potential in the world, we would be mad not to use it!! Same with tidal barrages......these are my preferred methods but the environmental lobby would never have it on the Severn Estuary!!
The budget deficit will be ?ú90 billion this year, down from ?ú150+ Billion 2 years ago!! 2011-2012 was the first full tax year we've actually have with this government!
What do you expect?
We will get rid of the structural deficit by 2014 and will be paying down debt by 2016.
The 76% rate excludes bank liabilities....they cannot be counted as they are just theoretical.....
parklane1
Tony Galvin
spursman17
Stephen Kelly
I suggest some of you read about a guy who turned a small fishing harbour into one of the Worlds global financial centers, known today as Hong Kong;
http://en.wikipedia.org/wiki/John_James_Cowperthwaite
This guy was a genius in my books and he believed in a society of minimal tax.
It was the foundation of his plan. A society not afraid to take risks and one that pushed people to take chances and to be ambitious because of the rewards.
The Hong Kong system was based on the British system during the industrial revolution. The tables of today however have changed and it is now us who can learn a lot from our friends in the Far East.
As for cigarette tax increase I disagree with you Leeds. Smoking no doubt increases the risk of cancer but smokers also already pay their fair share for each packet bought.
In 2010 the UK government received ?ú10.9 billion through taxable tobacco sales:
http://www.the-tma.org.uk/tma-publications-research/facts-figures/tax-revenue-from-tobacco/
It is predicted that smokers cost the NHS around ?ú5 billion:
http://www.independent.co.uk/life-style/health-and-families/health-news/smoking-costs-nhs-pound5bn-a-year-1700509.html
Smokers are not the problem. A society based on benefits (our biggest taxable cost) is the problem.
I know some girl I used to go to school with who at the age of 19 fell pregnant with her short term bf. She had no qualifications, no money and lives in a nice new flat. She and the guy got back together for a few months around a year later and guess what... pregnant again and he has done another runner. Do you know how much scum like her and her ex cost people like me? I get up at 6am each morning and work a hard day while fat ****s like her sit at home on facebook commenting about her kids taking their next brick.
People have choices in life. People have the right to free education, free libraries and all the resources needed to build a future. I don't see why I, who pay more than my fair contributions in this country, should feel that my hard work benefits me LESS than these types who deserve fudge all. If I smoke then thatÔÇÖs my choice. I pay far more than my costs and I contriute in every sense.
This country prefers however to hit the working man to pay for the shortfalls elsewhere because we have turned into a society that REWARDS FAILURE.
http://en.wikipedia.org/wiki/John_James_Cowperthwaite
This guy was a genius in my books and he believed in a society of minimal tax.
It was the foundation of his plan. A society not afraid to take risks and one that pushed people to take chances and to be ambitious because of the rewards.
The Hong Kong system was based on the British system during the industrial revolution. The tables of today however have changed and it is now us who can learn a lot from our friends in the Far East.
As for cigarette tax increase I disagree with you Leeds. Smoking no doubt increases the risk of cancer but smokers also already pay their fair share for each packet bought.
In 2010 the UK government received ?ú10.9 billion through taxable tobacco sales:
http://www.the-tma.org.uk/tma-publications-research/facts-figures/tax-revenue-from-tobacco/
It is predicted that smokers cost the NHS around ?ú5 billion:
http://www.independent.co.uk/life-style/health-and-families/health-news/smoking-costs-nhs-pound5bn-a-year-1700509.html
Smokers are not the problem. A society based on benefits (our biggest taxable cost) is the problem.
I know some girl I used to go to school with who at the age of 19 fell pregnant with her short term bf. She had no qualifications, no money and lives in a nice new flat. She and the guy got back together for a few months around a year later and guess what... pregnant again and he has done another runner. Do you know how much scum like her and her ex cost people like me? I get up at 6am each morning and work a hard day while fat ****s like her sit at home on facebook commenting about her kids taking their next brick.
People have choices in life. People have the right to free education, free libraries and all the resources needed to build a future. I don't see why I, who pay more than my fair contributions in this country, should feel that my hard work benefits me LESS than these types who deserve fudge all. If I smoke then thatÔÇÖs my choice. I pay far more than my costs and I contriute in every sense.
This country prefers however to hit the working man to pay for the shortfalls elsewhere because we have turned into a society that REWARDS FAILURE.