General Election 2017 | Cabinet reshuffle: Hunt re-appointed Health Secretary for record third time
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I'm sure when the Tories raise VAT that will really help the economy..
Have you tried raising VAT and killing all the poor?
Do I have to do this a second time?
How much were we actually bringing in at the old rate?Interesting, but you'd have to net that off with additional investment from businesses, eg R&D, and potentially increased employment, as companies invest more here, with the subsequent benefits of additional income tax and other revenue streams. No idea how you calculate that though...
Remember, the apple doesn't fall far from the tree, Nick.
We weren't previously on the brink of leaving the world's biggest trading bloc though, I guess.
Not sure cutting it by a third helped it either
Hopefully sorted now - was for logged into old uni account. No disrespect taken
If you could that would be great, should only take a second or two to enter again. I will check the other one before the deadline and collate any responses not brought over. So no worries if you don't, would just make it easier for me!
We can talk about a growing economy all we like but what good is it if the poorest in society and those who need it most see none of it and find their own situation worsening?
I'm fairly sure any fruits of a successful economy under a Conservative Government will go where they always do... to the already well off.
I wouldn't judge an economy but how wealthy the richest are... we should judge it by how those at the bottom end are coping.
That was the coalition, not the Tories themselves
I dunno, but like-for-like comparisons must be difficult, given the vagaries of economic growth and corporate profitability in different years. If you have a year, for example, where both say Vodafone and RBS have multi-billion pound writedowns, that must hit in the tax intake?
I'm lucky that my Mum isn't voting Tory.
Trying to change the opinion of stubborn people is very difficult though, especially those who take everything the media say at face value.
I do actually agree- raising the income tax threshold and upping the minimum wage must have helped, but I guess benefit freezes are the big issue in the bottom cohorts. It's a balancing act ensuring benefits are fair, but not a deterrent to getting a job, and one that all governments have struggled with him too tbf.
Equally though, I've known people with crappy lives in shithole areas that will vote Labour regardless of how their lot never changes under them any more than it does the Tories.
"UK comes bottom of G7 growth league"
I'm generally curious on how our economy is growing, because it's not and our national debt isn't being reduced either.
Voting Tory won't help them though Jippy and if Labour isn't working either then they're basically utterly screwed.
Me either. The thing is, I don't believe that attracting highly mobile multi-national companies to temporarily set up shop here does *that* much for the economy in the long haul.
The UK has some serious economic problems. I think there are whole classes of companies that we are missing:
- Car manufacturing; where is are our Fiat/BMW/Mercedes/Audi/Peugeot/Skoda/etc?
- Large Technology; where is our Apple/Microsoft/Google/etc
- The Internet; where is our Snap Chat/Twitter/Amazon/eBay/Netflix/Uber/etc
- Computers/TV/Phones; where is our Sony/Samsung/ASUS/Nokia/LG/HTC/etc
And that doesn't really even touch on wider manufacturing.
There are a couple of sectors where we do indeed punch above our weight; Banking for one, but in general the UK economy worries me.
You need home-grown companies to get the economy going. It's not enough to say "we are going to reduce corporation tax to 7% so that Apple open up a news-agents over here". That doesn't help as much as we'd like. Apple paid $15.8bn in Corporation Tax in the USA last year. I make that as 0.25% of the total US Goverment receipts last year, and that doesn't include workers wages (in every stage of production of their goods), sales tax, etc.
For many countries the larger home-grown companies are hugely important for their economy. We are sorely lacking a few modern giants. Many of our largest companies are formely state owned (BT, BAE, etc)
I don't know, I just don't think cutting corporation tax solves much. But equally, im happy to keep it at 20%
The IFS was against any party ruling out certain tax rises, cos it is so restrictive- if we have some form of financial crisis mkII, the government may have to take drastic measures to fill the coffers. Plus, if you don't raise VAT, you only have to put the squeeze on elsewhere.
Tbh, they need a broad review of VAT cos it isn't meant to be on essentials, so it's a joke tampons, sun cream etc...face VAT. Fine if it's on luxury goods because they are discretionary.
All this vid made me do is go on spotify and play Mo Money Mo Problems
I'm looking for the video of that senior police officer criticising May's cuts to police numbers last week - can anyone help?
Yeah I found a recent piece by the IFS which is good - https://www.ifs.org.uk/publications/9207That was the coalition, not the Tories themselves
I dunno, but like-for-like comparisons must be difficult, given the vagaries of economic growth and corporate profitability in different years. If you have a year, for example, where both say Vodafone and RBS have multi-billion pound writedowns, that must hit in the tax intake?
So we're actually taking in about the same level of onshore receipts now as we were in 2010, but external factors have played a big part in this and isn't representative. Also clear though that funding the bulk of your ambitious (to say the least) spending programme through a tax like this is dangerous and likely to result in a funding shortfall.
Both my parents voted Tory. My dad basically just said they're all dishonest and 'well this area is a Tory stronghold anyway'. My mum just said she likes what she heard about Labour's manifesto but she didn't think it would happen and wasn't keen on Corbyn as a leader.
I think labour would have had a chance if it wasn't for that daft woman making them look like a complete joke. Still, hope I'm wrong.
An increase in VAT at a time when inflation is creeping up would be an assault on the poor and a struggling high street.
Brilliant, ta mate.
Jokes on him. It turns out the real reason is that the people in this country have too many rights.
Nice deflection, great comment, feck the discussion eh, you know best, basically like all left wing social media, hyperbole all the way. Counter terrorism needs more funding not police on the street, look at the crime rates, the ones that new labour defined. I'm not fighting for anyone, the only thing that I challenge is the stupid assumptions that people like you mate.
This deserved a
That's a three month measurement ffs- we were top last year. Looking at quarterly or even annual figures is pretty short-termist in economic terms in all honesty. Wait til Brexit comes along...
Fair point in many ways, but it kind of reminds me of my in-law's family and how they keep praying at the holy lake, basically asking Ganesh(?) for money. Despite the fact they never get any weird windfalls, they keep doing it in blind faith.
I dunno if we're attracting them to 'temporarily set up shop' tbh- with the likes of Nissan, we want them to stay committed post-Brexit, for example, same with the banks.
We do have skews in our economy, but not sure about the classes of companies missing that you mention:
-Car manufacturing- we don't have large manufacturers any more, they were squeezed out. We do have large manufacturing plants though, eg Ford and Nissan, and expertise in specialist areas like F1.
-Large tech: The companies you mention -Apple/Microsoft/Google/(you could add in Amazon and Netflix, I guess) are virtual monopolies and no other European country has a direct rival. All I can think of to put in that bracket is Alibaba, Tencent and Samsung in Asia.
-The internet: We do actually have some good tech companies, eg computer games companies and biotech in both Old Street area ('silicon roundabout' and M4 corridor).
-Computers: Yeah we have little- Sage is one example. Sony has made massive losses in something like five of the last seven years!
Some of our largest companies are formerly state-owned. Most aren't though, eg Barclays. HSBC, Vodafone etc...
Yeah, Labour have had a reasonable campaign apart from Diane Abbott. She doesn't instil anyone with confidence.
She is very much out of her depth to the point where I feel sorry for her, and that isn't a good thing to feel towards a politician..
That's why I said the whole VAT regime needs reviewing.
Yeah those external factors, eg raising income tax and VAT, will naturally push down corporation tax's overall percentage input. They make a good point about things beyond government's control, such as the oil price too. It goes to show how little control a government has over vast swathes of the economy, eg currency, oil price, ECB stinging backs with charges on deposits etc...
Don't think Corb has the Sun's backing
Wow, Murdoch is really shitting himself.
I’ve admittedly moved further left, from being somewhat centre left in the last few years since the 2015 GE, so I know I’m biased in that regard.
I’m just not convinced it’s going to be so cut and dry on election night, I have faith in my fellow young voters to get out there and put pen to paper.
I know there is a lot of people out there like me, in a similar situation to me and most importantly wants to have their say.
Call it delusion or just blind bias but I’d love to be proven right.
I’m just not convinced it’s going to be so cut and dry on election night, I have faith in my fellow young voters to get out there and put pen to paper.
I know there is a lot of people out there like me, in a similar situation to me and most importantly wants to have their say.
Call it delusion or just blind bias but I’d love to be proven right.
Both my own parents and the inlaws will vote Tory. Mine aren't the smartest and a bit racist, hers are typical southerners and don't understand why since im on decent wage id vote Labour.
I'll probably buy them both Das Capital if Corbyn wins just to rub it in.
Wait are Jihadis communists now too?
He's also a pacifist, don't forget.