I’m going to give up work.

[Baron von Lotsov]

FYI





http://taxsummaries.pwc.com/ID/Peoples-Republic-of-China-Individual-Taxes-on-personal-income">http://taxsummaries.pwc.com/ID/Peoples- ... nal-income">http://taxsummaries.pwc.com/ID/Peoples-Republic-of-China-Individual-Taxes-on-personal-income

Interesting. I was just taking a peak at capital gains tax and note the Chinese is a straight 20%, where here it's a whole load of complicated clauses and rates. I see our complicated system as the fault of politicians trying to score brownie points where they claim they will reduce such and such a  tax, but it is like the sales conman's small print. You can understand why the Chinese are happy not to have politicians.

[Churchill]

FYI





http://taxsummaries.pwc.com/ID/Peoples-Republic-of-China-Individual-Taxes-on-personal-income">http://taxsummaries.pwc.com/ID/Peoples- ... nal-income">http://taxsummaries.pwc.com/ID/Peoples-Republic-of-China-Individual-Taxes-on-personal-income

[Baron von Lotsov]

Better hope there are good benefits then!



Inna serious note, the tax rate (%GDP) of the UK is not overly high compared to other developed nations.



China is below, but that is an odd case given the quasi governmental nature of much of it's industry



The US is below, Canada a bit below.  Japan is similar.



France, Germany, Italy, Norway, Ireland, Sweden etc are all above.



It's also worth pointing out that economic forecasts showing Labour's spending plans increasing public debt.



But the same forecasts show that a conservative "no deal" Brexit would increase the debt by more.



So if you believe the first part (labour spending increasing debt) you must also believe the latter (no deal being worse).



Or you can not believe the latter, but then you can't rely on the former as an argument

Hmm, I was not aware of the Chinese tax rate. I figured it was probably a low tax country because of its economic growth rate. When you are allowed to earn your own money and spend it on what you choose to spend it on then it encourages one to work harder. The regulation is simpler in China and most of the government's involvement is is infrastructure, not social control. Places like Ireland are like tax havens for global corporations. They cut corporation tax so giant global industry saves on tax if it puts a plant in the country, then they tax the workers hard I suppose!

[Churchill]

Borrow on the markets like every other government has and put up taxes.

That is Labour cunning plan their only plan every time they get into power

[BeElBeeBub]

Or the printing press.



As far as I can see Wurzel's policy is to nationalise everything and pay for it by printing junk bonds.

Borrow on the markets like every other government has and put up taxes.

[Borchester]

Let's face it, if Labour gets in everything is going to be free  so nobody will need to work. Looks like they have invented the economic equivalent of perpetual motion.

Or the printing press.



As far as I can see Wurzel's policy is to nationalise everything and pay for it by printing junk bonds.

[BeElBeeBub]

Better hope there are good benefits then!



Inna serious note, the tax rate (%GDP) of the UK is not overly high compared to other developed nations.



China is below, but that is an odd case given the quasi governmental nature of much of it's industry



The US is below, Canada a bit below.  Japan is similar.



France, Germany, Italy, Norway, Ireland, Sweden etc are all above.



It's also worth pointing out that economic forecasts showing Labour's spending plans increasing public debt.



But the same forecasts show that a conservative "no deal" Brexit would increase the debt by more.



So if you believe the first part (labour spending increasing debt) you must also believe the latter (no deal being worse).



Or you can not believe the latter, but then you can't rely on the former as an argument

[Nick]

Let's face it, if Labour gets in everything is going to be free  so nobody will need to work. Looks like they have invented the economic equivalent of perpetual motion.