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@Victor-Meldrew said in British Politics:
@Catogrande said in British Politics:
@Victor-Meldrew said in British Politics:
Big takeaway from the Budget: Hunt wants to abolish National Insurance "as it's an unfair tax". Makes a lot of sense and would simplify no end of stuff, but just think it'd be pretty hard to actually achieve.
Besides, he won't be around in 6 months or so's time.
When you add up income tax, employees NIC and Employer NIC, that’s a hit of around 40% for a “basic rate” tax payer. Paradoxically Employee NIC reduced to 1% (I think) just as you get to higher rate income tax. So yeah it is unfair. However, his giveaway reduction in NIC does nothing for retirees who do not pay NIC after having paid it for 40 years to qualify for certain benefits which keep getting devalued. Would have been more equitable to reduce basic rate income tax, but that would either cost more or not be such a grandstanding figure as a 2% cut.
I like the ambition though. I can see NI and Tax being combined alongside some sort of over-60 tax allowance being put in place
For retirees, the link between contributions and benefits vanished years ago and people who paid into the State Second Pension have been royally screwed. Another Gordon Brown masterclass in short-term thinking.
Oh for sure, however notionally it is still there, hence when you reach state pension age, you cease paying NIC.
Gordon Brown did so much stupid stuff with unforeseen and sometimes quite foreseen repercussions. Hated Advanced Corporation Tax so abolished it and in a stroke made pensions investment management into a taxable environment. Then altered the rules for liability managent. Cue overnight black hole in funding and the demise of the final salary schemes. Selling off a large chunk of our gold reserves and giving notice in advance that he was doing it. Huge dip and subsequent spike in gold price. The former before he sold, the latter afterwards.
Prudent my arse. Gordon Brown = one eyed scotch fluffybunny.
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@Catogrande said in British Politics:
Prudent my arse. Gordon Brown = one eyed scotch fluffybunny.
An economic charlatan with the real-world intellect of a 1st year LSE student. An utter tosser with the interpersonal skills of diseased hedgehog.
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Fuck me. Speechless.
https://www.mirror.co.uk/news/uk-news/headteacher-sacked-tapping-sons-hand-32297395
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@Tim Caught in the headlights of the mess that's been created - mainly by themselves.
IFS reporting today crunch time between debt servicing, tax and public sector spending is coming in the next few years. Parties playing pass-the-parcel.
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@Victor-Meldrew said in British Politics:
IFS reporting today crunch time between debt servicing, tax and public sector spending is coming in the next few years. Parties playing pass-the-parcel.
Sometimes I wonder what it would be like to live in a country that had honest conversations about this area.
Denmark had them, as far as I can tell, but that makes it the outlier in Europe. And just real discussion about removing barriers to growth. Would it be so bad to fast track electrical grid construction, or even fracking? I post because I care (for my relatives and friends in the UK).
While we're at it - remember when the BBC found their perfect Syrian refugee victim of xenophobia, who was actually a child rapist. Yikes!
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@Tim I was heavily involved in HS2. What an eye-opener - and an exemplar of lies and waste to the tune of £60Bn+ A combination of business ripping off the taxpayer and Civil Servants lying to ministers.
And yet it was so open and obvious and ignored by everyone. Too inconvenient.
https://www.thetimes.co.uk/article/hs2-billion-pound-coverup-cost-files-investigation-skzv2nxwj
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@Tim said in British Politics:
While we're at it - remember when the BBC found their perfect Syrian refugee victim of xenophobia, who was actually a child rapist. Yikes!
I couldn't resist posting this.....
https://www.spectator.co.uk/article/who-fact-checks-the-bbcs-fact-checkers/
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Let me explain. The Government has been in dispute with the Government about the Government charging the Government for parking on Government land. But now the courts have ruled the Government cannot levy a tax on the Government for parking on Government land.
I hope that's clear.
https://www.thetimes.co.uk/article/hmrc-news-nhs-car-parking-court-case-news-6lxzcj9bm
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Be fair. They are way too busy arresting people for carrying signs pointing out official UK government policy.
https://www.telegraph.co.uk/news/2024/03/09/palestine-march-israel-counter-protest-hamas-war-london/
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@Catogrande Very much so.
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@Catogrande I think it's a group account that some UK media people use to parody a certain type of smug liberal.
British Politics