Politics Election 2019

[Scouse]

Not sure if serious.

Basic maths.

If you raise the bar where you start paying income tax from (for example) from 10k to 15k then then for a person on 15k that means they pay no tax at all. Big benefit for them as a % of their earnings.

Of course, it's only as a % of their earnings - but it does "lift" the taxation line, so the biggest difference made is for lower income earners.

Higher income earners would barely notice it, but then they already pay a bigger % of their earnings as tax.

 

[Embattle]

Chancellor announces largest tax cuts in 50 years, driving a £411 billion borrowing surge that will break the fiscal rules • Resolution Foundation

www.resolutionfoundation.org

 

[Gwadien]

Basic maths.

If you raise the bar where you start paying income tax from (for example) from 10k to 15k then then for a person on 15k that means they pay no tax at all. Big benefit for them as a % of their earnings.

Of course, it's only as a % of their earnings - but it does "lift" the taxation line, so the biggest difference made is for lower income earners.

Higher income earners would barely notice it, but then they already pay a bigger % of their earnings as tax.

I meant not sure if he's serious that the current government would do that

 

[Scouse]

Chancellor announces largest tax cuts in 50 years, driving a £411 billion borrowing surge that will break the fiscal rules • Resolution Foundation

www.resolutionfoundation.org

Trying to buy the electorate with inflationary policies.

They did the same in the 1970's and it was possibly the worst budget ever. They're repeating the same mistakes.

Edit: Ah. Clicked link and saw this: " Anthony Barber’s ill-fated 1972 Budget ".

It's a bonus to them if they get left in power, but I suspect they feel they'll get kicked out, so they're trashing the economy in time for labour so people like Bodhi can go "fucking tax and spend labour"...

 

[SilverHood]

On the bright side, I'm looking forward to my next trip to the UK. A 5 quid beer will be $4-5!

 

[Wij]

Markets absolutely hating this budget:


View: https://twitter.com/david_milliken/status/1573261238636879874

 

[Embattle]

So we've got growth in the debt, gilt yields, interest rates.

 

[Scouse]

It's not incompetence. It's deliberate.

 

[Wij]

It's not incompetence. It's deliberate.

View: https://twitter.com/Cavalorn/status/1573320199578783744

 

[Gwadien]

Liz Truss's Foreign Office spend at Norwich City questioned

Foreign Office asked why it made two payments to the Canaries when Liz Truss was foreign secretary.

www.bbc.co.uk

So it begins...

 

[Wij]

View: https://twitter.com/ChrisGiles_/status/1573333193842892801

 

[Raven]

View: https://twitter.com/ChrisGiles_/status/1573333193842892801

To be fair, he was shit vs Italy.

 

[caLLous]

 

[Tom]

What's next, fox hunting returning?

 

[Wij]

What's next, fox hunting returning?

Probably. The joy in most of these policies is the idea that the part of the population they despise will hate them. They love it.

 

[Embattle]

Probably. The joy in most of these policies is the idea that the part of the population they despise will hate them. They love it.

It is a rather big part of the population that will hate them.

 

[Raven]

They know their public support is fucked, they don't care. They know they have 2 years to do as much damage as possible, that will take Labour years to fix, by which time they will have swung back into power. Placing thick-Lizzie in charge is deliberate, she is very expendable.

 

[Embattle]

I tend to think it is party navel gazing, in essence it is the reason she won against Rishi.

 

[Gwadien]

Liz Truss's top aide Mark Fullbrook paid by his own lobbying firm

Opposition parties demand investigation into possible conflicts of interest over "shocking" arrangement.

www.bbc.co.uk

Next please.

 

[Wij]

They just don’t care any more.

 

[Raven]

The Daily Mail will trot out something like "saving taxpayers money"

 

[Scouse]

I'll quite happily vote Tory next time round tbh, seems like they're quite keen for everyone to keep more of their money in their pockets.

Pound hits record low after tax cut plans

Sterling sinks close to $1.03 as global markets react to the UK's biggest tax cuts in 50 years.

www.bbc.co.uk

Record low $1.03 against the dollar. Bank of England openly talking of convening an extraordinary meeting so they can raise interest rates again - which means that everybody is going to have a LOT less money in their pockets as their mortgage rates are going to go up again, rents are going to go up etc. etc.

Come on @Bodhi - you know Labour are going to win the next election because only the most rabid of fanbois can justify what the Tories are doing now (although, I will admit - this sort of stuff has already started from Labour - which is sort of why so many people hate them - they tell people what to think rather than get on with economic management). But regardless - the Tories are trashing the country right now, because they know they've got two years left and making everyone feel like shit under labour probably gets them back in.

How can you vote for a party like this?

 

[Bodhi]

Pound hits record low after tax cut plans

Sterling sinks close to $1.03 as global markets react to the UK's biggest tax cuts in 50 years.

www.bbc.co.uk

Record low $1.03 against the dollar. Bank of England openly talking of convening an extraordinary meeting so they can raise interest rates again - which means that everybody is going to have a LOT less money in their pockets as their mortgage rates are going to go up again, rents are going to go up etc. etc.

Come on @Bodhi - you know Labour are going to win the next election because only the most rabid of fanbois can justify what the Tories are doing now (although, I will admit - this sort of stuff has already started from Labour - which is sort of why so many people hate them - they tell people what to think rather than get on with economic management). But regardless - the Tories are trashing the country right now, because they know they've got two years left and making everyone feel like shit under labour probably gets them back in.

How can you vote for a party like this?

Quite easily - as the alternatives are still worse.

Labour - After much wailing and gnashing of teeth, we find the only things they would have changed about the Fiscal Statement are a) Energy prices would only be capped for 6 months (helpful), and b) the 45% tax rate would be reinstated. So fairly standard politics of envy stuff from them (given how little that tax bracket brought in and the fact it was left by Gordon Brown as a banana skin for the incoming government). However it's all good as they would somehow completely decarboinise the energy grid in just over 7 years, using technologies which don't currently work and haven't been deployed at scale. Unless they find a way to accelerate building nukes this is pie in the sky fairy unicorn stuff.

Lib Dems - Biggest NIMBYs known to man and our current energy crisis can be laid at their door after their time in the coalition.

Greens - Lol, no.

And I see no other reasonable party to vote for.

 

[Scouse]

Lib Dems - Biggest NIMBYs known to man and our current energy crisis can be laid at their door after their time in the coalition.

I do love that you're a parody of yourself.

Tories have been in power for more than a decade? Done nothing? Lib Dem's fault.

 

[Zarjazz]

Bank of England openly talking of convening an extraordinary meeting so they can raise interest rates again - which means that everybody is going to have a LOT less money in their pockets as their mortgage rates are going to go up again,

And guess what I did last week? Finally going to move out of my rented flat because I decide to buy somewhere and put in an offer on a new place, which was accepted. My timing, as ever, is flawless

 

[Embattle]

Seems the money markets are predicting an interest rate of 6% by next summer.

 

[Scouse]

And guess what I did last week? Finally going to move out of my rented flat because I decide to buy somewhere and put in an offer on a new place, which was accepted. My timing, as ever, is flawless

You got a longer fixed term on your mortgage?

Either way you're better off m8 - so cashflow short term might be tighter - but now you're no longer throwing away money, and instead at least some of that monthly cost is going into a big brick savings account.

 

[Scouse]

Quite easily - as the alternatives are still worse.

So, the Tories bring in ELMS, and the Tories scrap ELMS. Almost as if they never were really going to do it, but it was a nice soundbite that placated an electorate, and when push comes to shove (i.e. they know they're losing the next election) - they show their true colours and trash everything.

Government review of ELMS farming subsidies stokes anger

A major overhaul of farm subsidies that would pay public funds for environmental work is in doubt.

www.bbc.co.uk

So you're going to get paid free money from the public purse based on how much land you own. Rather than that money being dependent on you doing good stuff with your land.

This is just one example of hundreds Bodhi. Hundreds.

But just for this one - how do you justify this?

 

[dysfunction]

Seems the money markets are predicting an interest rate of 6% by next summer.

yep just when my mortgage fixed rate ends. I might have to do the early repayment charge and remortgage early

 

[Embattle]

Labour certainly saying the right things.