General Election June 8th

[Chippy_boy]

When Ireland dropped corporation tax rates to 12.5%, they had inward investment of $277 billion from American companies using Ireland as their EU base of operations.

More than the US invested in Brazil, Russia, India and China combined.

The 700 US companies now employ 130,000 Irish men and women. Lowering corporate tax has been an absolute boon for the Irish economy.

Staggering that people cannot grasp this.

I suspect it's more that they refuse to grasp it, since increasing corporation tax underpins the entire Labour manifesto bribe-fest. If people actually admitted this was a fucking stupid idea, they effectively fess up that the manifesto does not add up, which of course it doesn't.

We are being asked to assume that the foreign businesses in the UK at the moment will all stay and all stay just as profitable. Neither of these is of course true. First, Labour are proposing remaining in the customs union and the single market. Unless they plan on ignoring the referendum result, and allowing us to continue to be bound by Brussels rules and having no immigration controls, this is impossible. And second, raising corporation tax will reduce inward investment into the UK and drive some busunesses off shore. Finally, increased labour costs caused by an unaffordable minimum wage will make businesses less competitive, reduce employment levels, reduce profits and yet further reduce tax receipts.

Another Labour downward spiral of reducing tax revenues, increasing debt, reducing competitiveness and inevitable recession.

 

[Chippy_boy]

Basically a load of bollox.
Tories inherited an economy from Labour.
They assessed it.
They said they would eliminate the deficit by 2015.
They failed.
They crashed the economy in 2012.
Deficit elimination has now been put back to 2025 i.e.mañana.By then the total debt will be at least two trillion and will be a structural problem for the UK. If interest rates we will really be in the shit regarding repayment.
The Tories through their unnecessary referendum ( to solve their internal party problems) have caused an existential threat to the British economy, just at the same time our economy has become the worst of the advanced nations.
Same old Tories.
Nuff said.

Weak response. Very weak indeed.

 

[hilts]

Staggering that people cannot grasp this.

I suspect it's more that they refuse to grasp it, since increasing corporation tax underpins the entire Labour manifesto bribe-fest. If people actually admitted this was a fucking stupid idea, they effectively fess up that the manifesto does not add up, which of course it doesn't.

We are being asked to assume that the foreign businesses in the UK at the moment will all stay and all stay just as profitable. Neither of these is of course true. First, Labour are proposing remaining in the customs union and the single market. Unless they plan on ignoring the referendum result, and allowing us to continue to be bound by Brussels rules and having no immigration controls, this is impossible. And second, raising corporation tax will reduce inward investment into the UK and drive some busunesses off shore. Finally, increased labour costs caused by an unaffordable minimum wage will make businesses less competitive, reduce employment levels, reduce profits and yet further reduce tax receipts.

Another Labour downward spiral of reducing tax revenues, increasing debt, reducing competitiveness and inevitable recession.

 

[Len Rum]

When will the defecit cease under labour?

Had Labour won the election in 2010 then Darling had a sensible plan to manage the economy and reduce the deficit sensibly which didn't involve crashing the economy. So by about now under Labour the deficit would have been eliminated.
Also note there would be no Brexit and existential crisis.
If Labour were to win this election then they would inherit the pile of shit the Tories have created so I would think that they would probably aim for 2027 which is probably the same as the Tories ( mañana plus two).

 

[geoff clipp]

Absolutely spot on Chippy. There are people in the country who actually understand the reason the Tories make the tough decisions they do. To suggest that Tories have this heart of stone who actively look to put people in poverty, or deliberately look to ruin the NHS is preposterous in the extreme.

We (tories) just have a fundamentally different view on how you make people's lives and the country better. These socialists seem to want to give their lives over to some all powerful, all seeing government and if anyone happens to live in poverty that has to be the government's fault. What about free will, what about perhaps not injecting yourself with heroin or not gambling or ending up in prison. There are a myriad of reasons why some people may end up on the streets and it might have absolutely nothing to do with govt policy.

My parents had next to nothing growing up but they weren't living in poverty because they possesed decent standards and principles. They had a council house, but their parents looked after it. They didnt drink to excess regularly, smoke or do drugs. The money they did have, went on the right things and they will tell you they had a happy childhood and upbringing despite not having a proverbial pot to p*ss in.

In the main, in the UK, we don't really kmow the meaning of the word poverty. I remember an African chap, from I think Sierra Leone, ringing up 5 live and saying that Brits don't know true poverty - that is the nearest clean water being 5 miles away, going with out proper food for days on end. Most of the people I see living in poverty have in my opinion impoverished themselves by sh*t lifestyle choices. Poor, yes but having to live In poverty, I don't think so.

Seriously, is that our standard now, not having to walk 5 miles for water? What a time to be alive. How many times does it need to be said that we have record numbers of people using food banks? Working people using food banks. Not people making shit choices in life, nurses using food banks. 60% of people classified as living in poverty in this country now come from working households. You talk about levels of employment being at an all time high, but what good are employment figures when they mask the numbers of people working poor or people forced into zero hour contracts that they can't survive on. I couldn't care less about the statistics people want to throw out there about employment or GDP, you only have to use your own eyes to see it's the shittest it's been in this country for the most number of people than it's been in the last 30 years.

 

[Blue Mooner]

I'm not talking about the ones that are already there, I'm talking about the ones we are supposedly ripping off. Ireland CT is the lowest why are all companies not based there ? There must be a reason.

How would I know I'm not the CEO of these major corporations. Some of it I'm guessing is based on history. If you're someone like Thales you're a French global corporation who's loyalty is to France, same with someone like Ikea that is historically Swedish.

It's mainly the large US hq'd corporates setting up operations in EMEA that have based themselves in Ireland due to the low corporation tax, therefore it becomes a logical choice. When a business has no particular loyalty to a region it's very logical that a business will look to how they can make themselves as tax efficient as possible and there will be a point at which those taxes will become punitive and force a change. That said it's the new investment that you will miss out on more, the kind of inward investment that helps to grow your economy.

 

[Hamann Pineapple]

How would I know I'm not the CEO of these major corporations. Some of it I'm guessing is based on history. If you're someone like Thales you're a French global corporation who's loyalty is to France, same with someone like Ikea that is historically Swedish.

It's mainly the large US hq'd corporates setting up operations in EMEA that have based themselves in Ireland due to the low corporation tax, therefore it becomes a logical choice. When a business has no particular loyalty to a region it's very logical that a business will look to how they can make themselves as tax efficient as possible and there will be a point at which those taxes will become punitive and force a change. That said it's the new investment that you will miss out on more, the kind of inward investment that helps to grow your economy.

What will happen to Ireland's economy when they inevitably raise CT ?

 

[hilts]

Seriously, is that our standard now, not having to walk 5 miles for water? What a time to be alive. How many times does it need to be said that we have record numbers of people using food banks? Working people using food banks. Not people making shit choices in life, nurses using food banks. 60% of people classified as living in poverty in this country now come from working households. You talk about levels of employment being at an all time high, but what good are employment figures when they mask the numbers of people working poor or people forced into zero hour contracts that they can't survive on. I couldn't care less about the statistics people want to throw out there about employment or GDP, you only have to use your own eyes to see it's the shittest it's been in this country for the most number of people than it's been in the last 30 years.

You're looking in different places than I am, fucking moaners everywhere

 

[worsleyweb]

Had Labour won the election in 2010 then Darling had a sensible plan to manage the economy and reduce the deficit sensibly which didn't involve crashing the economy. So by about now under Labour the deficit would have been eliminated.
Also note there would be no Brexit and existential crisis.
If Labour were to win this election then they would inherit the pile of shit the Tories have created so I would think that they would probably aim for 2027 which is probably the same as the Tories ( mañana plus two).

This all boils down to prestwich blues theory that spending money boosts the economy etc - my personal opinion is that history shows that each time labour try this the economy ends up in a mess. One of the biggest problems in this country is the ridiculous house prices and I say that as some one who earns a living from it. The fact that people have to pay a quarter of a million pounds to live in an average detached house in a reasonable area. I would implement a plan which prevents mass inflation in prooperty prices. In regards to your response I am highly dubious that by spending more we would have had nil deficit by now but no one can know for certain not even you. I must admit the passion of labour supporters and the good intent they are showing has impressed me. As a natural conservative I just can't trust what is being said though. If someone more credible than Corbyn was in charge I think they would have a better chance. I will be physically sick if that Scottish cow ends up with any say in our government.

 

[west didsblue]

has she ordered her Ed Stone for the number 10 garden then?

She's probably ordered a May pole. Have to say even Ed was more convincing than her.