We are actually seeing a whole bunch of asset management jobs moving to Dublin, Luxembourg and other jurisdictions now, due to the upcoming loss of passporting. It's more moving parts of the business, rather than uprooting the company as a whole, but we are still losing high-earning jobs and the subsequent tax take cos of Brexit.
General Election 2017 | Cabinet reshuffle: Hunt re-appointed Health Secretary for record third time
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Which doesn't paint even half of a full picture when you consider the resources corporations use in order to make a profit out of which they pay that tax.
Take the four biggest industrial countries in Europe and the UK's rate of corporation tax is about 7% lower than the average. With a Tory proposal to reduce it by a further 2%.
Is the Tory Brexit team really preferable though?
We are talking David Davis, Boris Johnson and Liam Fox. Career politicians who will be looking to score political points and spouting jingoistic and nationalist crap at every turn. Together they repeatedly made hostile statements directed at the EU members last summer which will no doubt have got their backs up. Lead by Teresa May, who can't think on her feet and whose face falls apart every time she's put under pressure.
The Labour team on the other hand will be lead by a well regarded lawyer who will have experience in negotiating and is only entering politics towards the end of his career. He'll will be backed up by career politicians who may have supported Remain but who are likely to get a warmer reception at the negotiating table.
On top of that, supposedly Corbyn wants to remove himself from the negotiations and instead direct the team from London taking out the 'Macron/Merkel vs Corbyn' angle. Surely that's far more appropriate than the bullsh!t show of strength May and her team will be looking to put on.
Because they've outright refused to give a figure for absolutely anything. You can criticise Corbyn for not knowing the numbers for his social care policy, but at least they're out there and in the manifesto. The Conservatives financial plans amount to 'lol who cares?'.
That was always inevitable with Brexit, and freedom of movement restrictions, uncertainty, etc, not necessarily a pure tax issue.
Numbers don't matter - just sell the message. Oh sorry, that was the other lot.
If you think someone earning 70k should pay more than a nurse, then I'd agree with you. But it would be missing the big point - the real wealth lies in the people owing the capital, not those trying to accumulate some to get on the ladder. It is the single biggest obstacle to social mobility in the UK and the biggest change from the 60s and 70s.
To be fair the Tories manifesto is not that removed from what is already policy. Many of the policies stem from the last budget and are already costed. Deficit targets aren't being met as fast as they would like but they are going in the right direction. The economy is still growing even against the backdrop of Brexit. On the other hand Labours manifesto is full of massive new spending commitments. Therefore the onus is on them to tell us how they will be costed. Corporation tax and the high earners won't do it. The IFS say so.
When you say 'when' which cut are you referring to as that isnt true for all of them
Doesn't tax take always go up anyway? And the comparison is between years that were in the middle of a financial crash - i.e, not a sound comparison.
So basically, as you mockingly described Labour's manifesto, "numbers don't matter - just sell the message".
It's a pure passporting issue, nothing to do with tax. I feel I may be leaping into a convo that's midway through and will butt back out!
You can have long periods of stagnation though, like we've seen with next to no wage growth over multiple years.
Not only is IHT a totally flawed tax due to the geographical issues, but it is duplication too. A property has already been subject to tax, both at the time of purchase and every month since.
My point isn't about social media psychology. It's that there seems to be the same level of Tory bell-ends who're talking shit as previous elections; but there appears to be a huge increase in left wing morons who believe others aren't entitled to their own views without ridiculous levels of condescension and abuse.
This large increase that many people are seeing will in my view lead to a larger portion of "shy" Tory voters and could well cause the polls to be significantly wrong.
It's why I was considering putting a few quid on 390 - 419 Tory seats which would be a majority of over 100 seats.
Aye that wasnt the point discussed. I've yet to hear any of our clients moving to Dublin for passporting reason as most already have a EU presence to cover it off. Thats probably more to do with our product base than anything.
I think there's a danger when this is discussed to paint a picture of the entire city moving.
We got our first tory leaflet yesterday, I'm not entirely sure how they managed to find a volunteer in this constituency.
They put it down to 19% a couple of years back and the take went up. This is because lower rates attract inward investment which creates more companies that employ more people. This is why we have the highest rate of employment for decades. There are problems with wage growth that given time should be addressed. But if you think that the answer to those sorts of problems is to turn it all upside and vote in a tax and spend government then you are wrong. It's been done and it has failed. I'm not saying the current model is perfect but it is far better than this proposed populist rubbish. It's nice and cosy and very humane but it's pie-in-the-fecking-sky. Don't be duped.
This is nothing more or less than traditional Tory mantra. I know this, because I used to vote for them. I stopped when I realized that their entire basis of economic theory is complete bullshit.
Without a healthy working/middle class with disposable income to spend, the economy is fecked basically. Companies from the tiny shop to the sprawling multinational corporation rely on a huge number of people spending money. If you condense the money to a few people at the top end, then the economy slows to a crawl. They've tried to get around that in the UK by increasing the opportunities for banks and lenders to allow the poor to go into debt so they can keep spending. Now we have a country full of people heavily in debt and with wages that are barely high enough to service that debt, let alone consume at a healthy rate.
As for companies going abroad, we've been hearing that since I was a child, and wierdly it never happens.
But go on, cast your vote for the people who have been running Britain into the ground on the basis of economic theory that doesn't work but just coincidentally happens to make them all millionaires.
Yeah, people on zero hours contracts or interns who are paid such shit wages you also need benefits or even foodbank handouts in order to survive, just give the Tories time. Stop with your pie-in-the-fecking-sky nonsense about being paid a wage that means you can live rather than just survive, they'll get around to fixing it eventually. Luckily there is absolutely no big political decisions just around the corner that might put your genuine concerns down the pecking order.
'Honest' John. It's like a George Orwell wet dream
You may be right, you may be wrong....
What I was saying is that the only way Corbyn can be PM is in a coalition - with LibDems and SNP.
As half the Labour Party would still opt out of BREXIT if there is a chance, and ALL the LibDems and SNP would still opt out of BREXIT if there is a chance, there would be an enormous risk of the UK's negotiators being able to say little more than ' Yes, sir..No,sir..How much do you want, sir' to the EU's negotiators if their Political Leaders and Political Parties back home see a chance to reverse BREXIT...Or even worse, cave in to EU demands and come back with ' We told you so...'
Got a leaflet through from this fella yesterday, thinking of voting for him:
http://www.maidenhead-advertiser.co...-stand-in-maidenhead-at-general-election.html
Not sure about the 3rd runway thing, I don't actually have a problem with that.
http://www.maidenhead-advertiser.co...-stand-in-maidenhead-at-general-election.html
Not sure about the 3rd runway thing, I don't actually have a problem with that.
That the sort of morons who are more than willing to see their rights and privacy taken away just in case it might help 'combat extremism' found their champion.
ICM has remained fairly consistent. Their last poll showed an 11% gap.
The Sun and Opinium show 4% and 7% respectively from 4th-6th June. Yougov's final poll will be worth keeping an eye on tonight. If they show a widening gap, then I'd take that as meaning bad news for Labour as Yougov has been consistently optimistic.
Nothing. Just a load of silly polls that surely by now people should know to ignore (the Yougov ones being especially worthless).
Nope. That has been consistent (the brackets denote the change in % from the last poll).
Polls don't mean much these days but the percentages will probably be something like that.
Has there ever been such a wide gap between the various polls before?
I dont remember there being these kind of gaps in previous elections.
Maybe the people clued up on polls have an answer @Ubik
I dont remember there being these kind of gaps in previous elections.
Maybe the people clued up on polls have an answer @Ubik
The number of candidates (13). Didn't know Laud Hope was standing there.One of the other candidates is an activist https://www.givemebackelmo.co.uk
I'm not sure on the "take it in the face" quote. Brings up uncomfortable mental images.
Agree, inheritance tax is a scandal and should be abolished.
After Brexit and other elections of late, some of the pollsters are experimenting this election with different methods to see what might end up reflecting reality.
If you had to pick one, which polls would you trust the most.
Eww.
Every tax is at least a duplication, though. I pay income on money I've already paid corporation tax on. I then pay Fuel/Alcohol/Property/Inheritance/VA tax on money I've already paid both income and corporation tax on. Then there's NI tax of course.
If you're paying a tax that is only a duplicate then you're doing pretty damn well.
Jesus christ, do you actually believe that?
Do I believe that people whose only vested interest is getting elected want to do the most amount they can for the most amount of voters they can? Naturally. People are inherently self serving so a Government's only goal becomes the attainment of more power (vote share) for themselves and people with a similar opinion.
The reality of Government means that any party in power only ends up with one real goal: increasing tax receipts as much as possible so that they can then spend this tax receipt (inefficiently) on the most amount of people in order to get re-elected. Their goal is for as many voters as possible to say "party X is fantastic because they've done Y for me". Therefore the Tories are already trying to get the most amount of tax out of the economy as they can. This is illustrated by the tax to GDP ratio being at about 38% which apart from times of recession/depression is about as high as you're going to extract from our current economy.
This is why when anyone says to me "increase taxes" to spend on x, I laugh. Taxes are already at damn close to a maximum level for the UK economy. If they weren't near maximum then they'd have already been increased in order to pay for something which would make a party look better to the electorate. Every single Tory minister would tax the top 1% another £50b and spend it on the NHS if it were possible - it would be the biggest gain of votes for any party ever at the cost of an inconsequential minority.
Taxing the richest few % is fantastic as you get the maximum amount of money for the minimum amount of offended parties. Do you know the problem though? You can't tax them at a higher level than they already pay; you either tax fewer of them more, or a greater number of them less (the 1% particularly pay the level of tax that they decide is fair and suitable for them).
Likewise the bottom 20% tend to vote in far fewer numbers, so there is a reduced incentive for any party to create policies that take from people who do vote and give to people who don't. An illustration of this is Labour's policy on tuition fee's. The bottom 20% don't tend to go to university so don't benefit from it, but they don't vote so who cares. The taxes from this are supposedly taken from the top 5% but we know they aren't going to take a drop in lifestyle; so consequently they either a) maneuver their taxes so they don't pay anymore; or their companies increase the cost of their goods which is essentially a tax on everyone else.
Scenario a) creates a black hole in finances which has to be paid by someone. Again the middle classes vote so you don't want to piss them off too much so some of it will fall on the non-voting bottom 20% inc young people who also don't vote. Scenario b) taxes the purchasers of goods which is essentially the same as increasing VAT which is seen as a regressive tax.
This is the reason why the only way the poorest will be better off is through private initiatives and private technological advances; because there is a huge disincentive from taking money from voters and giving it to non-voters.
Hows this then? Does a council tax not pay for council services? Didnt realise it paid for the upkeep of the house.
Of course IHT is a duplication. You think other taxes arent??
You earn a wage. You pay income tax and national insurance, but keep the remainder (say 60%)
Of that 60% you buy something and pay vat of 20 %. Or you purchase some shares and pay capital gains tax on profits (lets say 20%). Or you buy a house and pay stamp duty (lets say 10%).
Pretty much all taxes are duplications.
But inheritance isnt earned. No one is born better than anyone else. If there is anything fair in the world, its taxing inheritance
Edit - or if you are a business owner, pay corporation tax on profits (19%) then dividends tax (7.5% - 38.1%), then vat/stamp duty/ etc as you go to buy stuff.
All tax is duplicated. Rich folk complaining about being rich
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I'd trust the ICM one over the YouGov and Survation ones.
Ok, that's handy to know.