The Labour Government

hampshireblue said:
I agree that 2031 seems along time off. But don't forget we are still in the period that the Tories froze the thresholds for and so not a single personal tax rise until 2028 is down to anything actively imposed by Labour.
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2031 is six years away - forget the vote by then we will have left the EU for over a decade - surely we will all be on the sunlit uplands by then?????
 
hampshireblue said:
I agree that 2031 seems along time off. But don't forget we are still in the period that the Tories froze the thresholds for and so not a single personal tax rise until 2028 is down to anything actively imposed by Labour.
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You are Alistair Campbell and I claim my commons subsidised pint:-)

I actually believe you shouldn't be able to use this blag of freezing things for years and then adding length to it.

The Tories froze it, Labour are continuing with it. We are all adults and are aware either of them could have changed this. Its in effect a tax increase on everyone done for the easily fooled.

Dishonest optics from both parties if we are being honest.
 
Yep. But they could have changed it and I wish they had because if only for optics, paying tax on any of the state pension is just mad. But all parties don't tinker with unpopular bits that they moaned about at the time of introduction. I was reacting to someone saying this government in out of control with a direct regard to freezing the thresholds.
 
Brewster's millions said:
That's right.

Why would anyone want to care or question what's happening in bond markets, when the circus surrounding the government over the past year has been driven in large part by, er, bond markets?

Anyway, the good news is that the estimate for gilt interest payment costs for the forecast period has only increased by £41bn since last year's Budget.

I'm sure we'll agree that an extra £41bn is an irrelevance to taxpayers. And as you've pointed out previously, the UK can't go bankrupt with the FTSE at these levels.
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Are you still suggesting the country will go bankrupt?
 
WRicko said:
So let’s ignore mansion tax the fiscal drag affecting the rich. The NI for employers, the changes to interest property and dividend tax, of salary sacrifice or even EV which will all affect the rich more than the averages

Still no specifics from you
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You''re either willfully ignoring my point or we're arguing at cross purposes. At no point have I ever said the current government isn't doing anything or ignoring what they've done; I've said I can't see how it's sufficient to arrest and reverse the huge levels of wealth inequality and continued erosion of nation state control versus wealthy elites and he doesn't have the political capital, skills or will to go further. If this current 'don't scare the horses' incremental approach wins the day, things improve for ordinary people and that results in him then creating a large enough political consensus behind him to embolden him to move further forward then I'll (happily) be wrong. I suspect it's more likely it'll just result in continued discontent and a one term government with lord knows what comes after. Same with the tech firms, its not unreasonable to suggest that some of the people running them actively want to replace government as the primary unit of policy making and execution. To put these people back in their box is a herculean task which will require a level of broad political support there's no evidence he can generate. I'm not sure anyone can tbh but I see nothing in him that says he's the man to do it.
 
bluethrunthru said:
and in the media. People with expensive houses, who drive EV's, holiday abroad a lot and earn a lot of money through investments will be crippled. I know that because Kirstie Alsopp tweeted it. Says more about her circle of friends really.
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Kirsty Alsopp opposes it you say? Probably decent then.
 
jimharri said:
So; what's the general feeling about the budget among the Labour supporters on here?
Good?
Bad?
Meh?

Has she pulled a Haaland, or a Savinho?
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I think it's an adult budget. A budget developed by adults, living in the real world. Pragmatic and shows an understanding of the limited room for maneuver the Government has. There's no significant idealogical aspect to it. The sort of budget you see in most European countries.
The 2 child benefit cap going is a good thing, and most of that money will go straight back into the economy as it will be spent immediately.
 
west didsblue said:
Are you still suggesting the country will go bankrupt?
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You’ve already said that the UK can’t go bankrupt with the FTSE at these levels. How could anyone question logic like that?

£41bn extra on debt servicing. £29bn extra on welfare. The borrowing forecast for this year alone has been increased by £21bn from the figure they published as recently as March, purely because this government has lost control of spending.

And in a desperate attempt to make the figures add up, they’re asking people to believe that they’ll be a real terms freeze on departmental spending just ahead of a general election. It’s actually forecast to decline in per capita terms.

Given that cuts like this caused you so much distress under the last government, I assume you’ll hopping mad about what’s scheduled to follow the next couple of years.
 
Scottyboi said:
Well that's where you're wrong as it is nothing to do with child benefit, it is Universal Credit and the top up you get per child. So you it's all linked to one payment you get a month, which is then reduced depending on how much money you earn as a family.

And like Rachel pointed out, currently the only exemption for 3rd child or above was proving you had been raped and didn't plan for the 3rd or above child. Disgusting rule.

Least the parents luxury benefit goes back into the economy.
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Eh ? It's the same money that taxpayers would have put back into the economy anyway had they not lost the additional tax to pay for it. Same money, just different people spending it, that's all.
 
Am interested in the 6 months paid work placement for NEETs (young people not in education, employment or training). Sounds a bit like the Kickstart scheme introduced by the Tories just after the first Covid lockdown.
Pity it only starts after 18 months of looking for work, but I think it's a good move.
 
stan bowles said:
Eh ? It's the same money that taxpayers would have put back into the economy anyway had they not lost the additional tax to pay for it. Same money, just different people spending it, that's all.
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Not hard to figure out Stan, the poorest who get blamed for our economy always spend their meagre income in our economy. Whereas these big corporations and elites siphon off into tax heavens instead. I have a far bigger problem with them kind of people than the poor.
 
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