TangerineBayern
Well-known member
And you mateAbsolutely yes. Going home for my tea. Have good one TB.
And you mateAbsolutely yes. Going home for my tea. Have good one TB.
So every other country went into recession for the reasons stated but not the UK. Astounding.Which happened because of the poor way that the Tory Government dealt with the economy, both before Truss/Kwarteng, during their pitiful tenure and subsequently. You don't want to listen directly you? Our economy tanked because of the Tories. If you don't want to listen to me then at least listen to the voters of Kingswood and Wellingborough. Or do you have your head firmly in the sand?
You pay capital gains tax.Rishi has paid 23% of his two million from last year.
I pay a higher rate of tax on substantially less.
well i managed o level . in 1977. enjoyed the subject.A few months ago I posted on here that all the Bank of England interest rate increases would probably lead to recession. I'm no Economist but got A Level Economics.
The problem is with such high tax rates (70%) or to some degree a lot lower people leave the country and go to more favourable tax places.My view is that increased wages must be recognised with a change in the tax structure. I would reintroduce the 10p rate to help those at the lower end. I would move the standard rate up to £50k. I would then have an intermediate rate of 35p up to £100k. Above that, I would have a 50p rate up to £250k then a 70p rate above that.
I would not begin to question your standards as an employer and, of course, there have to be incentives in order to encourage inward investment. But these can sit alongside the structure for income tax that I have briefly summarised above. I have made no mention of Corporation Tax, CGT or bonus structures. All of these fiscal implements must be designed around the encouragement of investment and jobs growth. Only a fool would punish investors for wanting to grow the economy and employment.The problem is with such high tax rates (70%) or to some degree a lot lower people leave the country and go to more favourable tax places.
Take me for example, I was investing significant money in the UK and employing a lot of people (100 plus) and paying a lot of tax.
I looked at the tax situation and the offers from other countries made in order to get me to invest in them and not the UK.
So I still grew the UK business at a much lesser rate BUT invested the big money where they gave me loads of incentives and zero CGT and zero dividend tax.
Is that good for the UK economy? - probably not, and I know many people who have done the same.
Now you can quote all the research you like about higher tax rates and people leaving or not leaving - the reality is I did and many others do as well.
I was a very good employer and recognised by the Sunday Times as such, nobody was on min wage and nobody on zero hour contracts - we had a low staff turnover as we treated people fairly.
In my entire business life I was NEVER taken to an employment tribunal (which I am proud of) as I was fair.
So if you think higher rates don’t hurt the economy you are mistaken - and if the country is driving investors like me away - then god help it!
I wasn’t offshoring though - I wasI would not begin to question your standards as an employer and, of course, there have to be incentives in order to encourage inward investment. But these can sit alongside the structure for income tax that I have briefly summarised above. I have made no mention of Corporation Tax, CGT or bonus structures. All of these fiscal implements must be designed around the encouragement of investment and jobs growth. Only a fool would punish investors for wanting to grow the economy and employment.
However, what we have witnessed over the last thirty years had been a mad rush to 'off-shore' (horrible expression), which has put our economy at the mercy of some rather dodgy regimes and threatened our security into the bargain.
No, the risks of off-shoring are now fully acknowledged, whilst the benefits of on-shoring - quality, long term jobs, stable communities, improved infrastructures and a more harmonious population - are only just becoming widely recognised. In order for our country to prosper then the vastly rich must recognise their responsibilities to the nation as well as benefiting from the advantages it has bestowed on them.
The need for recognising investment with rewards is highlighted in my last post.I wasn’t offshoring though - I was
Investing in new business in different countries.
Anyone suggesting a tax of 70% need to understand that it pushes people away.
Hell, the real tax rate between 100k and 120k is circa 66% already in the UK.
The UK needs to encourage investment by rewarding entrepreneurs with low taxes.
It creates jobs after all!
The left need to also understand the risk v reward argument.
If you take risks, you need to be rewarded for them otherwise why would you?
After all , how many employees have had to drive to the bank to put their house up for security to make the wage bill - I have!?
I wasn’t offshoring though - I was
Investing in new business in different countries.
Anyone suggesting a tax of 70% need to understand that it pushes people away.
Hell, the real tax rate between 100k and 120k is circa 66% already in the UK.
The UK needs to encourage investment by rewarding entrepreneurs with low taxes.
It creates jobs after all!
The left need to also understand the risk v reward argument.
If you take risks, you need to be rewarded for them otherwise why would you?
After all , how many employees have had to drive to the bank to put their house up for security to make the wage bill - I have!?
Other countries that have better infrastructure and a better educated population - offer better opportunities, and MUCH better incentives.You are able to make money in the UK because we have an educated work force, a reasonably good infrastructure, access to capital, a generally business friendly environment and generally stable, pragmatic governance [until recent years]. This all costs money and businesses should pay their fair share of the bill. Of course this needs to be done without choking investment. We are in many ways a great country.
The need for recognising investment with rewards is highlighted in my last post.
It’s a global economy and companies have to succeed within that competitive environment. Governments have to support that reality. They also have to ensure Maverick governments cannot subsidize industries for example electric car batteries to corner the market by putting everyone else out of business. Responsibilities to the nation are a two way street, and until government has business literate people who understand business, entrepreneurs out of necessity will continue to off shore their enterprises.I would not begin to question your standards as an employer and, of course, there have to be incentives in order to encourage inward investment. But these can sit alongside the structure for income tax that I have briefly summarised above. I have made no mention of Corporation Tax, CGT or bonus structures. All of these fiscal implements must be designed around the encouragement of investment and jobs growth. Only a fool would punish investors for wanting to grow the economy and employment.
However, what we have witnessed over the last thirty years had been a mad rush to 'off-shore' (horrible expression), which has put our economy at the mercy of some rather dodgy regimes and threatened our security into the bargain.
No, the risks of off-shoring are now fully acknowledged, whilst the benefits of on-shoring - quality, long term jobs, stable communities, improved infrastructures and a more harmonious population - are only just becoming widely recognised. In order for our country to prosper then the vastly rich must recognise their responsibilities to the nation as well as benefiting from the advantages it has bestowed on them.
And further expand the wealth gap??Not really - what would you do?
I would abolish CGT, Dividend Tax and IHT
It’s a matter of principle.And further expand the wealth gap??
Can you name these places? Singapore imo wouldn't be a reasonable comparison for all sorts of reasons which I think you would accept.Other countries that have better infrastructure and a better educated population - offer better opportunities, and MUCH better incentives.
Edit to add: a much more friendly business environment as well.
I wouldn’t actually accept that - as someone who lived there 10 plus years and knows the place - it’s an incredible growth story of how to obtain foreign investment and milk it for the benefit of the masses.Can you name these places? Singapore imo wouldn't be a reasonable comparison for all sorts of reasons which I think you would accept.
Business before country, business before citizens. We've had 24 years of Governments following the creed of private is best and individualism trumps society. Time for a change I say. So do lots of others.It’s a global economy and companies have to succeed within that competitive environment. Governments have to support that reality. They also have to ensure Maverick governments cannot subsidize industries for example electric car batteries to corner the market by putting everyone else out of business. Responsibilities to the nation are a two way street, and until government has business literate people who understand business, entrepreneurs out of necessity will continue to off shore their enterprises.
No they are not the same. We have an NHS which is a brilliant thing. Alcohol and tobacco are addictive substances with no health benefits (don’t say wine and reservatrol as still in that format benefits don’t outweigh negatives) so they should pay an extra tax to offset burden to NHS.by your reckoning, VAT, stamp duty, the duty on alcohol and tobacco should also go as they are taxes on income already taxed.
Government has privatized to avoid having to run their institutions properly. This was done out of cowardice and ignorance as they had no idea how to modernize and be efficient.Business before country, business before citizens. We've had 24 years of Governments following the creed of private is best and individualism trumps society. Time for a change I say. So do lots of others.
But they are secondary taxes, immaterial where the tax revenue goes.No they are not the same. We have an NHS which is a brilliant thing. Alcohol and tobacco are addictive substances with no health benefits (don’t say wine and reservatrol as still in that format benefits don’t outweigh negatives) so they should pay an extra tax to offset burden to NHS.
That’s utter rubbish. They are choices to buy, not taken from you.by your reckoning, VAT, stamp duty, the duty on alcohol and tobacco should also go as they are taxes on income already taxed.
I think you’ve missed the point.So every other country went into recession for the reasons stated but not the UK. Astounding.
Thats a very good point, you could add in business before the environment and survival in general, and I have a question for all those who do singularly prioritise business or profit or growth. What is the point of business?Business before country, business before citizens. We've had 24 years of Governments following the creed of private is best and individualism trumps society. Time for a change I say. So do lots of others.
When you pay VAT on essentials then its not choices. Its also a choice to invest and / or risk capital.That’s utter rubbish. They are choices to buy, not taken from you.
Great question. The point of business is the same as the point of government. To provide a safe environment and improve the quality of life for all whilst ensuring the continued progress of the human race. They are both responsible for different facets of the common objectives. Now you may scoff at that and understandably so but that’s because greed, ego, and no accountability has eroded hope somewhat and obscured some peoples vision.Thats a very good point, you could add in business before the environment and survival in general, and I have a question for all those who do singularly prioritise business or profit or growth. What is the point of business?
That's a good answer; I often get to make profit, or growth or something similar that omits the humanistic aspect. We're seemingly on a similar page, which is surprising based on many of your posts.Great question. The point of business is the same as the point of government. To provide a safe environment and improve the quality of life for all whilst ensuring the continued progress of the human race. They are both responsible for different facets of the common objectives. Now you may scoff at that and understandably so but that’s because greed, ego, and no accountability has eroded hope somewhat and obscured some peoples vision.
Look at the U.S. for example does any sane person think Trump or Biden are the best people to be president? And how can it be called a democracy and the land of the free ifyou cannot vote for none of the above.
That said you have been born British the little island that never gives up. You are from Blackpool which means you have to have hope to survive and if you are like me you are a parent so even when you might not feel it you have to be brave, lead by example and do your job with what you have to make the world you are custodian of, better for those that follow you. That is your highest choice and the difference between living and existing.
All for risk and reward but business has to accept failure when it does not come off and not expect the state to bail them out, to many corporate failures without anyone taking the hit either in jail or in the pocket.I wasn’t offshoring though - I was
Investing in new business in different countries.
Anyone suggesting a tax of 70% need to understand that it pushes people away.
Hell, the real tax rate between 100k and 120k is circa 66% already in the UK.
The UK needs to encourage investment by rewarding entrepreneurs with low taxes.
It creates jobs after all!
The left need to also understand the risk v reward argument.
If you take risks, you need to be rewarded for them otherwise why would you?
After all , how many employees have had to drive to the bank to put their house up for security to make the wage bill - I have!?
I think you’ve missed the point.
It was raining on all the houses on the street, I agree.
But in one particular house there were some passing visitors (two of whom were called Liz and Kwasi) who decided to rip off all the roof tiles and smash all the windows to let the rain in and cause more damage. To the detriment of the people who lived in the house.
Most people can see that. Hence the by election results.
Yes, even despite the best efforts of the zombie Tory Government, GB still has a bit of life in it. Just think how much better it will be once the Labour Government is up and running.The UK's economy grew by a stronger than expected 0.6% in the first three months of 2024, the best among G7 countries, thereby ending its so-called technical recession. The March growth was four times faster than the growth forecast by economists published in Reuters.
Yeah lets hope and pray with fingers and toes crossed that Labour do better than they did last time they ran the country into the ground with illegal wars and the like that put the country on high alertYes, even despite the best efforts of the zombie Tory Government, GB still has a bit of life in it. Just think how much better it will be once the Labour Government is up and running.
The UK's economy grew by a stronger than expected 0.6% in the first three months of 2024, the best among G7 countries, thereby ending its so-called technical recession. The March growth was four times faster than the growth forecast by economists published in Reuters.
Just think, you now have a good reason to convince yourself to vote Labour.Yeah lets hope and pray with fingers and toes crossed that Labour do better than they did last time they ran the country into the ground with illegal wars and the like that put the country on high alert
Maybe the recent right wing recruits can help them along a little
I'm sure Rachel Reeves will be the first to claim credit for any recovery.Yes, even despite the best efforts of the zombie Tory Government, GB still has a bit of life in it. Just think how much better it will be once the Labour Government is up and running.
I think Rishi's got there already.I'm sure Rachel Reeves will be the first to claim credit for any recovery.
I can never vote Labour given I've had to live under a Labour government for the last few years,Just think, you now have a good reason to convince yourself to vote Labour.