the economy.

[Len Rum]

See the National Grid are flogging off 61% of it's UK gas distribution business to foreign investors.
Every little helps!

 

[Hart of the Matter]

What's so funny but Oh dear, here we go:

1) you're not arguing with my figures (I'd have thought a simple "well done swp for a very in depth and comprehensive apresal on various tax year's income amounts" was the least you could have managed).
2) do you think the lower wage earners were better off in 2006/07 before the crash (crash starting in 2007, crescendoing in 2008 and continuing through 2009)?
3) you'd think the 50p rate of tax would mean higher wage earners paid more in 2008/09 & 2010/11 than in 2016/17 no? You getting confused old buddy of mine? They pay more now than they ever did under Labour, 50p tax rate or not (mainly as they don't get the same allowances), you knew that right?
4) Lower total borrowing, higher deficit, do you want me to explain the whole debt/deficit thing again for a 50th time? It's just at some point you will either understand it or I really should start charging you $1,000 an hour to repeat myself.
5) tax is theft, commie.
6) do you disagree that wage earners of £1m plus are worse off now then they were under Labour? If so, back it up with figures and sources and vice versa, do you agree or disagree that those earning under national mean average wage pay less tax now than they did under Labour?

Very interesting and a lot of food for thought. Thanks for the information (genuinely).
Two questions -
1. Would households on lower salaries have seen a negative impact on benefits in the same period, if so by how much?
2. What is the net impact of inflation so we can compare like for like as many people in this bracket have had wage frozen over same time span?

 

[SWP's back]

Very interesting and a lot of food for thought. Thanks for the information (genuinely).
Two questions -
1. Would households on lower salaries have seen a negative impact on benefits in the same period, if so by how much?
2. What is the net impact of inflation so we can compare like for like as many people in this bracket have had wage frozen over same time span?

1 and 2) We are talking about tax on specific incomes. Tax is less for lower wage earners now than it was and is higher for people earning more.

I was only comparing people earning the exact same amount on different years to show that their tax burden has decreased so any talk of inflation is really moot and it's not for the government to force employers to ensure above inflation wage increases. They have no power to do that. What they can do is increase personal allowances, which is what they have done.

 

[Hart of the Matter]

1 and 2) We are talking about tax on specific incomes. Tax is less for lower wage earners now than it was and is higher for people earning more.

I was only comparing people earning the exact same amount on different years to show that their tax burden has decreased so any talk of inflation is really moot and it's not for the government to force employers to ensure above inflation wage increases. They have no power to do that. What they can do is increase personal allowances, which is what they have done.

I agree but they have imposed wage freezes on public services. Do not forget these people are also paying a higher proportion of salary in VAT (also part of taxation) Not wanting to quibble as you make salient points in your post.
Personally I think the left ( I find it increasingly difficult to define the divide) should take a hard look at its core values around taxation. Simple tax more spend more does not always add up. A radical look at maximising tax yield including ditching old dogmas is what is needed. A stimulated economy with tax set at the most efficient point to maximise yield is in everyone's interest. A flat rate tax rate with higher allowances for instance?

 

[Len Rum]

Bad news for all you JAMs who benefitted from the 40% tax threshold being lifted from 43k to 45k, box office Phil has taken half of your gain away by raising the 12% national insurance payment threshold also from 43k to 45k.
Nice one Phil.

 

[Thaksinssoldier]

I had a chat on Wed with one of the biggest commercial property developers on the FTSE 100 and they reckon it's bad times afoot for you guys for the next 20 years I'm afraid.

Currently stripping all their assets in the UK and sending their investment capital to Dublin, Frankfurt and Amsterdam, which are all projected to boom as a result.

What's even worse for you is all the mess with be initially hidden this year thanks to a major boom in tourism. Apparently mainland Europe will be arriving en masse this year to the UK before borders close....that's what the consensus fear is. So they are doing their UK tourism in the next year before it might become difficult.

Your leave voters have dug you a serious hole.

 

[inbetween]

I had a chat on Wed with one of the biggest commercial property developers on the FTSE 100 and they reckon it's bad times afoot for you guys for the next 20 years I'm afraid.

Currently stripping all their assets in the UK and sending their investment capital to Dublin, Frankfurt and Amsterdam, which are all projected to boom as a result.

What's even worse for you is all the mess with be initially hidden this year thanks to a major boom in tourism. Apparently mainland Europe will be arriving en masse this year to the UK before borders close....that's what the consensus fear is. So they are doing their UK tourism in the next year before it might become difficult.

Your leave voters have dug you a serious hole.

There is no evidence of the above. Why would the largest companies in the UK do all of this at huge cost when they have absolutely no idea of the trading relationship we will have with the EU? I am not saying it won't happen but I really do dispute that it already is happening because we have not left the EU - currently the status quo and a level of uncertainty prevails over the markets.

Put it this way, what happens if we negotiate a free trade relationship, do they all then come back? All of the countries/cities you mention are within the Euro and that is not the hottest currency you seriously want to tie your business up in. The costs and risks far outweigh what inevitably at worst could be WTO rules.

Of course anyone in commercial property will want this, less competition is a very nice trading environment to be in.

None of these companies are going to do anything either way because they operate internationally and will have to continue to do so. It is the small-medium sized businesses that we need to watch because they employ the most people and are at the biggest risk.

 

[squirtyflower]

I had a chat on Wed with one of the biggest commercial property developers on the FTSE 100 and they reckon it's bad times afoot for you guys for the next 20 years I'm afraid.

Currently stripping all their assets in the UK and sending their investment capital to Dublin, Frankfurt and Amsterdam, which are all projected to boom as a result.

What's even worse for you is all the mess with be initially hidden this year thanks to a major boom in tourism. Apparently mainland Europe will be arriving en masse this year to the UK before borders close....that's what the consensus fear is. So they are doing their UK tourism in the next year before it might become difficult.

Your leave voters have dug you a serious hole.

Commercial property development has been on the slide for a couple years now as its far too over priced. Moving to backward third world shitholes like Dublin isn't the answer
Neither is Europe the answer. Since the crash in 2007 its overall economic growth has been a big fat zero.
The US of A has grown 15% in that time whilst plucky downtrodden Blighty has gone up 8%. Just imagine how high that figure would have been without the millstones across the water holding us back.

 

[Thaksinssoldier]

There is no evidence of the above. Why would the largest companies in the UK do all of this at huge cost when they have absolutely no idea of the trading relationship we will have with the EU? I am not saying it won't happen but I really do dispute that it already is happening because we have not left the EU - currently the status quo and a level of uncertainty prevails over the markets.

Put it this way, what happens if we negotiate a free trade relationship, do they all then come back? All of the countries/cities you mention are within the Euro and that is not the hottest currency you seriously want to tie your business up in.

None of these companies are going to do anything either way because they operate internationally and will have to continue to do so. It is the small-medium sized businesses that we need to watch because they employ the most people and are at the biggest risk.

There's a level I can talk about, and then there's a level I'm told and have to take people at their word, with no understanding of their why's. But my business operates in a venue purchased for close to 2 billion, and my previous post alludes to the why.

2 billion is a lot of cash if you weren't sure.

 

[SWP's back]

Bad news for all you JAMs who benefitted from the 40% tax threshold being lifted from 43k to 45k, box office Phil has taken half of your gain away by raising the 12% national insurance payment threshold also from 43k to 45k.
Nice one Phil.

JAMs?