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General Election 2024

Interesting numbers:

Income tax - 28%
NICs - 18%
VAT - 17%

Company taxes - 10%

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ifs.org.uk

Where does the government get its money? | Institute for Fiscal Studies

The Government raises around £1 trillion in revenue each year. Most comes from the three biggest taxes: income tax, NICs and VAT.
ifs.org.uk ifs.org.uk
 
mandryka said:
It's the last nail in the coffin, though there is a week or so to go, who knows what new horrors will come to light.

They have self destructed - killed off by their decadence.
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The important thing is we must never forget. The behaviour of this government makes the ‘Expenses Scandal’, the sleaze of the Major government etc etc look like forgetting to ring up a Mars Bar at Tesco. This is full-on multi-£billion organised crime and it has happened entirely at our expense. We paid our tax in good faith for hospitals, schools, social care, utilities and transport infrastructure. The Conservative Party stole the money and handed it to their corrupt backers, owners and friends. They laughed at us all whilst doing it.

No matter what happens over the next decades we must keep shining the spotlight on this disgusting criminal oligarch owned party and allow them nowhere to hide. If that means crowdfunding investigative journalism and legal challenge then that is what we must collectively do. Never forget what they did. Never allow anyone else to forget what they did.
 
Linear said:
I seem to remember the UK's addiction to borrowing started during the Blair era.
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Not popular here but Blair has been our best PM for decades.

Anyway, from whom did Labour 'borrow' and do you think borrowing for investment in infrastructure and public services is a problem? It's not the same as 'borrowing' to give handouts to tory donors, their mates and big companies.

With historically low interest rates for virtually 13 years , why did the tories not 'borrow' to invest and build the economy, favouring instead austerity and under investment in public services?

If you are referring to the general population 'borrowing'. That became a problem under the Thatcher debacle. I wore a suit when attending an appointment at the bank for my first loan ~1977/78. By the early 80's I was getting a leaflet through the letterbox almost daily offering me a loan just by phoning some number of a lender such as Alliance and Leicester, is one I recall.
 
Spraggons Den said:
This is an extract from The Frogs interview reported in today’s Graun.


“I stood up in the European parliament in 2014 and I said: ‘There will be a war in Ukraine.’ Why did I say that? It was obvious to me that the ever-eastward expansion of Nato and the European Union was giving this man a reason … to say: ‘They’re coming for us again,’ and to go to war.”

He added: “We provoked this war. Of course it’s his fault, he’s used what we’ve done as an excuse.”
west’s errors in Ukraine have been catastrophic. I won’t apologise for telling the truth”…

He added: “I am not and never have been an apologist or supporter of Putin. His invasion of Ukraine was immoral, outrageous and indefensible. As a champion of national sovereignty, I believe that Putin was entirely wrong to invade the sovereign nation of Ukraine.

“Nobody can fairly accuse me of being an appeaser. I have never sought to justify Putin’s invasion in any way and I’m not now..”


As far as I can discern his position correlates exactly with yours. Just sayin.
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https://twitter.com/x/status/1804791005020930066



global.ilmanifesto.it

The truth about corporations taking over Ukrainian agricultural lands - Il manifesto global

A text has recently spread on social media (including on the Facebook page of Il Giardiniere) alleging that “three large U.S. multinationals bought 17 million hectares of prime land from … Continued
global.ilmanifesto.it
 
Brian said:
Not popular here but Blair has been our best PM for decades.
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In my memory (1960's onward) the Blair years were probably the best for working classes. Whether he was right or wrong to run the economy in deficit is open to debate. I could even be a Blair supporter if it were not for the war.
 
Linear said:
In my memory (1960's onward) the Blair years were probably the best for working classes. Whether he was right or wrong to run the economy in deficit is open to debate. I could even be a Blair supporter if it were not for the war.
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Take a look at the ONS data about the deficit and debt.
 
Although it has taken a few years, Gove has eventually come to the realisation that’s it’s one rule for them and another rule for everyone else. Interesting, a few years ago they were trying to deny, deflect and mitigate the most venal corruption. Now, seemingly apart from Cleverly, they realise the game is up. “It wasn’t me, I’m as shocked as everyone else.” F*cking cretins.
 
tuga said:
No reply and a question... Who does the Government borrow money from?
Is tax revenue sed to pay debt
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I wasn’t sure if the debt creditors comment was sarcasm or not, so merely being cautious.

When government “borrows” it issues bonds to for example, pension companies. So this borrowing is someone else’s savings. Government instructs it’s bank to sell the bonds and the bank pays back the bond at the agreed rate from money creation

Tax, borrowing and spending are accounting terms, when tax is paid it is chalked off the spreadsheet against the spending column. It has then done it’s job. It has no further existence. It doesn’t go anywhere.

If you get a loan from your bank, they add some numbers into your account. Those numbers have not come from anywhere, the bank has created your money at a computer keyboard.

When you pay the loan back, your debt just disappears, it doesn’t go anywhere else.

www.bankofengland.co.uk

Money in the modern economy: an introduction

Quarterly Bulletin 2014 Q1
www.bankofengland.co.uk www.bankofengland.co.uk
 
Farage is so upset with The Mail calling him a Putin stooge he's bringing legal action for defamation.

He then immediately and very wisely tweeted that The Mail are "actively collaborating with the Kremlin."

Should be a fun trial.
 
ks.234 said:
Tax, borrowing and spending are accounting terms, when tax is paid it is chalked off the spreadsheet against the spending column. It has then done it’s job. It has no further existence. It doesn’t go anywhere.
Click to expand...
You've just said it goes to(wards paying) the spending column. Doesn't lower tax revenue mean less money to spend (or more borrowing)?
 
ks.234 said:
If you get a loan from your bank, they add some numbers into your account. Those numbers have not come from anywhere, the bank has created your money at a computer keyboard.
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Can the bank lend money it doesn't have? (imaginary money?)
How's that possible? Is money infinite? I can see a National Bank issuing more money (perhaps agains a devaluation of its currency) but a private bank?
 
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