advertisement


General Election 2024

Ponty said:
He was talking in the context of inflation. He supports growing GDP to help the poorest in society. I’d have thought that’s a pretty good thing.
Click to expand...

That is code for trickle down and it's also jam tomorrow. Classic neoliberalism and what the Tories have been locked into for decades. He just thinks (rightly) that the Tories are so chaotic and incompetent that his wealth is safer with Labour.
 
I listened to some of it. He’s still dancing on eggshells. One of this article’s comments likens voting Labour to Brexit. We don’t know what’s coming. Others here will argue that point! Sunak’s turn today. I wonder how much he’ll bang on about tax?!

 
Jubal said:
I listened to some of it. He’s still dancing on eggshells. One of this article’s comments likens voting Labour to Brexit. We don’t know what’s coming. Others here will argue that point! Sunak’s turn today. I wonder how much he’ll bang on about tax?!
Click to expand...
His paymasters want to damage the economy further with more austerity - so austerity is what we'll all get. There have only been two periods of lasting damage to the economy since the war. Thatcher's monetarism period and Austerity 1 (let's call it) They are out of ideas in the City I'm afraid.
 
gez said:
I've tried doing the maths on this idea before. The issue is trying to find the subsequent tax bands that then allow:

a) the government not to be losing revenue from tax overall
b) doesn't significantly alter the take home pay of middle earners in a negative way.

I was attempting to come up with a tax regime that had a high PA but then applied a flat tax for everyone after that. In the end I realised that purely from a maths perspective it wasn't really viable (well it would work but if the gov was to maintain their income a lot of people would need to be significantly worse off, particularly those of average earnings). So you still end up wtih a tiered tax regime, just with a smaller gap between "lower" and "higher" rate taxes. Either way, it's doable and in my view would be a fairer tax regime. But it goes against some peoples ideology, so the left at least will never implement such a scheme. Which is ironic as there is zero doubt that the people would benefit the most would be those who earn below the national average, especially the lowest earners (or part time workers).
Click to expand...

Of course, it’s unlikely reform will be the next govt, so to some extent they can be ambitious without having to execute policies. It’s always the same issue with tax though, to raise lots of it, you need the vast majority to pay it. Whacking a few outliers is political rather than effective tax raising policy. I’d support a £20K personal allowance but that will mean a higher tax rate for most. There’s no free lunch. I think we all agree though it would help the lowest earners.
 
  • Like
Reactions: gez
Ponty said:
John Caudwell talking much sense on Newsnight.
Click to expand...
Yes. As Caulwell says, Starmer has ‘ditched the left and come out with a set of ideas and values are in complete alignment’ with his views as a “commercial capitalist”.

Someone who backed Liz Truss is now looking forward to “influencing Labour.

He was also impressed with the “empathy” shown to him and others like him by Rachael Reeves .

Much sense of empathy for the hard right, not so much sense or empathy for child poverty, low wages, the NHS or social and environmental justice
 
Last edited:
Del monaco said:
Self interest, nothing else. If he’s that bothered he could give half his wealth to supporting the closure of the poverty gap…
Click to expand...
That the Labour Party is showing such “empathy” to his naked self interest might be of some concern.

It is also one of the reasons that the poverty gap will continue to rise under Labour
 
ks.234 said:
Yes. As Caulwell says, Starmer has ‘ditched the left and come out with a set of ideas and values are in complete alignment’ with his views as a “commercial capitalist”.

Someone who backed Liz Truss is now looking forward to “influencing Labour.

He was also impressed with the “empathy” shown to him and others like him by Rachael Reeves .

Much sense for the hard right, not so much sense or empathy for child poverty, low wages, the NHS or social and environmental justice
Click to expand...

What additional % of his post tax wealth would you seek to take off him?
 
You must log in or register to reply here.


advertisement


Back
Top