Politicians fault.
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Where’s the money gone?
- Thread starter Fred_Quimby
- Start date
Politicians fault.
Saddleworth2
Well-Known Member
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- 27 Jan 2014
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We are suffering because of the depth of the recession 10 years ago coupled with a slower than expected recovery from that. The devaluation of the pound over the last couple of years has pushed prices up. Real wages are not much above what they were before the recession. That’s why most of us are feeling the pinch. If you couple all that with the impact of ‘austerity’ policies on public services, it is the less advantaged in society that have suffered most. We are carrying the 6th largest national debt of any developed nation. All in good shape ready for Brexit really.I have been meaning to post this for a while.
Where has all the money gone? We pay our taxes and VAT went up ‘temporarily’ a few years ago to 20%. So where has all the money gone. Just about every public service is short of money. Councils will get nothing from the government next year, our local police force have been asked to make major savings of £20m, the local NHS cannot afford the staff with A & E departments closing in some of our towns and a reduction in child services which entail some parents having to travel to Lincoln some 30+ miles away. We now pay for some refuse collections, old people’s services have been cut, mental health issues are not being addressed, homelessness has risen astronomically etc, etc, etc.
So where has all the money gone? We were able to pay for everything before so why can’t we pay for it now?
http://www.nationaldebtclock.co.uk/
Interest > tax minus public services cost
Fuck the bankers, the government should have let those go under, it's the politicians fault.
We'll be a third world country in 50 years. China will rule everything.
I’m not convinced by that
Fred_Quimby
Well-Known Member
VAT could be 50% and we’d still be short. No matter how much tax we pay, it’ll never be enough, such is the frivolous way that money spent by all politicians, parties and local authorities.
Yes, but where is it going.
I’m not convinced by that
Which bit and why?
ChicagoBlue
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- 16,516
https://www.ukpublicspending.co.uk/breakdown
Just in case you REALLY wanted to know.
64% (approx TWO-THIRDS!!!) goes to NHS, public pensions, social security and state education...and has remained at that level for the past 5 years.
Debt PAYMENTS amounts to 6.6% (1/10th of the other things I noted) of tax revenues...and has remained at that level for the past 5 years.
Of note, however, is that public debt payments are now greater than the cost of protecting either the national defense or state security!!
On the flip side, VAT is currently 19.3% of tax revenues, with Income Tax being 25.4% of revenues.
Conversely, you could blame politics, of course.
Just in case you REALLY wanted to know.
64% (approx TWO-THIRDS!!!) goes to NHS, public pensions, social security and state education...and has remained at that level for the past 5 years.
Debt PAYMENTS amounts to 6.6% (1/10th of the other things I noted) of tax revenues...and has remained at that level for the past 5 years.
Of note, however, is that public debt payments are now greater than the cost of protecting either the national defense or state security!!
On the flip side, VAT is currently 19.3% of tax revenues, with Income Tax being 25.4% of revenues.
Conversely, you could blame politics, of course.
Last edited:
https://www.ukpublicspending.co.uk/breakdown
Just in case you REALLY wanted to know.
64% (approx TWO-THIRDS!!!) goes to NHS, public pensions, social security and state education...and has remained at that level for the past 5 years.
Debt PAYMENTS amounts to 6.6% (1/10th of the other things I noted) of tax revenues...and has remained at that level for the past 5 years.
Of note, however, is that public debt payments are now greater than the cost of protecting either the national defense or state security!!
Conversely, you could blame politics, of course.
How much does the UK collect in tax?
Total UK public revenue will amount to £775.8 billion in 2019. Of this 42 percent will be in indirect taxes, 33 percent in income taxes, 18 percent in national insurance contributions, and 7 percent in business and other revenue.
ChicagoBlue
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- 10 Jan 2009
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Latest numbers I saw are 2016-2017, as 2018 not over, but figure was $716Bn. Can’t have a number for 2018 yet, let alone 2019!How much does the UK collect in tax?
Total UK public revenue will amount to £775.8 billion in 2019. Of this 42 percent will be in indirect taxes, 33 percent in income taxes, 18 percent in national insurance contributions, and 7 percent in business and other revenue.
Latest numbers I saw are 2016-2017, as 2018 not over, but figure was $716Bn. Can’t have a number for 2018 yet, let alone 2019!
https://www.ukpublicrevenue.co.uk/current_revenue
ChicagoBlue
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Yes, that’s same website I got latest numbers from, but revenues are generally considered more economically sensitive than expenses, most of which are baked into the pie...hence the deficit problems that consistently cause political problems! Future revenues are always subject to recalibration, albeit probably only on the margins absent a decent depth recession.
I tried to use numbers that could be compared, hence my use of percentages to assist in any comparison.
I hope that helps. I have no dog in the political fight.