News Pre Budget Report Day!

[rynnor]

Dont expect any real details on how they will drag the country out of massive debt - too close to an election

Looks like they will hammer the bankers somehow - this seems a bad idea to me (I'm not a banker btw) - its nothing compared to the national debt and could backfire very badly if the good investment bankers flee the UK.

We own a fair chunk of UK banks so we have a vested interest that they make a decent profit so we can flog em off - if we are left with underperforming Investment banks we could lose many times what is gained through the tax grab.

 

[Raven]

I am expecting a bunch of unworkable headline grabbers, nothing more.

Edit, I don't have a problem with some bankers getting a decent bonus when they perform, if they make 6 billion profit then they should get a share of that, like any other business. Its when they epic fail and still get a bonus that there is a problem.

Taxing the bonuses more could help as it will be a fairly large sum of money, though it will be pissed up the wall on some pointless eco quango I imagine.

 

[dysfunction]

I don't think bankers will flee the country. There is too much money to be made here.

Also, the government wouldn't be that stupid to kill off the only proper industry the country has left.

I don't have a problem with the banks paying out big bonuses as long as they have long term growth and stability...which is what the government wants.

You can't have a bank paying large bonuses from the money used to prop them up. That is not right...

 

[Furr]

Salaries will just go up hugely and be backdated to summer or something like that, the whole thing is headline grabbing. Problem is that the PBR is going to be hugely political to gain headlines but will shy away from the really tough measure needed to sort things out.

 

[cHodAX]

Limit bonuses to 10% of profit, job done. £600 million is more than enough to be shared between the staff.

 

[Jiggs]

Get rid of the royals and become a republic, should save a few pennies^^

 

[Raven]

No it wouldn't.

 

[Jiggs]

Yes it would.

 

[Furr]

No it wouldn't!

 

[Jiggs]

*falsetto*

Yes it would.

 

[Raven]

He's behind you.

 

[Chilly]

bbc stream broken.

no movements on inheritance tax, bankers bonuses taxed at 50% where over 25 grand, that's about it.

 

[Jiggs]

I can't hear you!

 

[Furr]

quote stolen from Vince Cable via Twitter - "This is a good budget for bingo and boilers"

 

[dysfunction]

bbc stream broken.

no movements on inheritance tax, bankers bonuses taxed at 50% where over 25 grand, that's about it.

Also National Insurance will go up by a further 0.5p

Household boiler scrappage scheme
1p rise in corporation tax for small firms scrapped
Tax rebates for electric cars and wind turbines
Bingo duty falls from 22% to 20%
State pension to rise by 2.5% next year

 

[Scouse]

could backfire very badly if the good investment bankers flee the UK.

Y'see, I disagree with this. They're not special or anything. There's probably a few hundred thousand British people who could do just as good a job given the opportunity...

But yes, they should just tax the profits of the banks.

(Or, rather, cut the heads off each of the central banks worldside and steal them off the private individuals who own them)...

 

[Scouse]

Get rid of the royals and become a republic, should save a few pennies^^

Tourism is our 3rd biggest industry, thanks largely to having a bunch of symbolic sausage eaters sitting on big chairs in nice buildings...

 

[MYstIC G]

Was an absolute waste. I don't much like the Tory candidate for chancellor, he looks like a weasel. However on BBC News this morning he was perfectly correct when he essentially said "how does this deal with the debt and the fact this country is a greedy piggy when it comes to borrowing money". It doesn't.

The general public in this country are stupid, I mean we only paid off the WWII US lend-lease facility in 2006. How long do they think it will take to pay off all the bullshit huge figures the Labour government have borrowed.

 

[rynnor]

It was a non-budget - the Public Sector is too big to be able to reduce the budget deficit without cutting back on it.

Instead they raised taxes and cut nothing - Labour seem constitutionally incapable of cutting back on its own excess.

 

[MYstIC G]

It's because they can only get to power by spending too much.

 

[Furr]

Yup, it was a total fail budget. Raising the NI tax is a tax on employment, which tends to be a bad thing in the middle of a mega huge recession, They couldn't resist trying to make it out they were going to spend loads of money on us making it all better, but its all a smokescreen, they didn't even bother to try to tackle the massive shit storm we are in even though credit rating agencies are screaming at us to sort the out the countrys finances. Labour is going to wreck the country to try a save a few seats come the election, yay...

 

[SilverHood]

More pandering to the electorate, and long term moves that will sink the Tories when they win the next general election.

The bonus tax is just stupid (yes I work for a bank, IT contractor though, so no bonus for me), there's loads of ways to dodge it. All it does is annoy the bankers. The ones who can move probably will.... traffic between UK and USA is largely one way.

It doesn't solve the real problems the UK is facing:
People spending money they don't have.
Obsession with owning a property
Cutting social benefits for slackers, discouraging child birth if you cannot support your self.
Bloated national and local government
Dumbing down of primary / secondary education, narrowness of college education
MOD wasting money on custom shit it can buy wholesale from India / USA.
NHS money black hole

Fix just half of those and the UK will be on its way to recovery. But that would be too easy.