Whose side are they on?

[Nick]

You said the 7% VATwas forced on us by the EU.  We are not in the EU VAT as a percentage of any amount charged now  has nothing to do with the EU. Learn to know who exactly uses VAT to tax us.

It was forced on us, and nowhere did I mention that it couldn't be removed. 

[srb7677]

Borrowing vastly increased sums just to hand most of it to the rich who will squirrel much of it away offshore is not even good Keynesian economics.

[srb7677]

Other measures have been announced. Stamp duty reductions will stimulate the housing market.

Which is surely excessively inflated already.

I would have preferred a £20k tax free allowance.

Would have helped the lower paid much more and the wealthiest much less.

Which is of course why it never happened.

[cromwell]

I don't know, to be honest. What's it to do with today's budget?


If you say so. There could be other reasons, such as a 5% cap on council tax rises, or the LAs having higher priorities.

It's not "targeted", although I see that you believe it is, Doesn't make it so.

That's a strawman, so I'll ignore it.

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What I will say, is that this is a radical budget, risky, in that it may stoke inflation. However, it has moved away from the left of centre Sunakism to allow for a plan for growth. If it doesn't work, then hello Labour in 2 years time.

If it does work, and I hope it does for Britain's sake, the country will take off as it finally breaks free of the EU regulations and alignment with their tax rates and the like. I hope for the best for our country so that everyone benefits by our prospering.

Must say typical tory reply......I see no ships (Not poor ones anyway)

[Barry]

Well the government have just announced the abolition of the cap on bankers' bonusses and the cancellation of planned rises in corporation tax.

Does this make you feel like they are on your side?

Because to me it looks like they are on the side of the wealthy elites, and not mine.

Little wonder that thus far polling shows Truss to be behind the witless Starmer on most measures, which is clearly not a good place to be.

The Tories seem intent upon gifting the next election to the least deserving Labour leader in living memory.

The bonus cap change will have the intention of keeping or attracting business to the city. If we have caps and other countries do not, it makes for worse conditions for employees here. There is capital flight when there is such a mismatch. Like it or not, the City accounts for a major part of the wealth of this country and we need to keep it that way.

Other measures have been announced. Stamp duty reductions will stimulate the housing market. When people move, they have work done on their homes creating business and employment.

A reduction of 1p in the tax rate will save people a bit, but it has been outstripped by inflation. Removal of the 45% tax rate makes tax fairer across the board. I would have preferred a £20k tax free allowance.

You know the people who pay most tax actually are working for their livings and I think they deserve to keep most of what they earn, don't you?

Overall, though, I concede that the rich do better from this mini budget than the poor.
Whose side are they on? Hopefully on the side of UK PLC in a hope to stimulate the economy, if the country does well, the electorate will vote for them again.

[B0ycey]

What I will say, is that this is a radical budget, risky, in that it may stoke inflation. However, it has moved away from the left of centre Sunakism to allow for a plan for growth. If it doesn't work, then hello Labour in 2 years time.

If it does work, and I hope it does for Britain's sake, the country will take off as it finally breaks free of the EU regulations and alignment with their tax rates and the like. I hope for the best for our country so that everyone benefits by our prospering.

The thing is Barry, Sunak is an economists so at least he has a clue on these things than blind faith. But I wonder, do you believe in the trickle down effect? Because that is what you are relying on. And looking at this with scrutiny, I am wondering what part of the 70bn is going to stimulate growth anyway. Most of the money is going to the rich who had enough to spend anyway and those who are on low income have just been handed a tax rise in real terms with the impending inflation. Don't get me wrong I am a firm believer in Keynesism economics and I do believe you can spend money to stimulate growth. However the money has to go to the areas (or in this example people) where it is needed don't you think? Lizzy is a dizzy and if it wasn't clear to you she is useless by now then you are in a rude shock in the future I expect.

[Barry]

Yes I posted it again because you appear to have ignored it
So are you saying that when there was in place a fair amount that disabled had to pay which a tory govt ripped up and said charge what you like is ok?

I don't know, to be honest. What's it to do with today's budget?

Yes you are fully aware because you go on to say it is driven by a lack of funding from central govt.

If you say so. There could be other reasons, such as a 5% cap on council tax rises, or the LAs having higher priorities. 

Not deliberate.....so they didn't know what the result would be?

Yes they did.

It's not "targeted", although I see that you believe it is, Doesn't make it so.

So in a less than ideal world you are saying it is ok to give bankers carte blanche on bonuses (we're still paying the price) when they brought this country to it's knees also give the biggest breaks to the wealthiest that's fine too but sod the vulnerable.

That's a strawman, so I'll ignore it.

---------------------------------------

What I will say, is that this is a radical budget, risky, in that it may stoke inflation. However, it has moved away from the left of centre Sunakism to allow for a plan for growth. If it doesn't work, then hello Labour in 2 years time.

If it does work, and I hope it does for Britain's sake, the country will take off as it finally breaks free of the EU regulations and alignment with their tax rates and the like. I hope for the best for our country so that everyone benefits by our prospering.

[B0ycey]

Everybody is getting the same 1.25 percent reduction.

So the rich are seeing their contribution slashed from al already low 3.25 percent to 2 percent, whilst the rest of us are seeing a cut from 13.25 percent to 12 percent.

Do the maths. This is yet another example of helping the rich vastly more.

The poor aren't getting a tax cut though Steve. They are getting 1% off everything they earn above £12000 which is perhaps a hundred quid on average a year. And in return sterling has fell 4% which means everything we import will cost another £4 on a hundred spent. That will dwarf the cut and actually this budget and sterling collapse means the poor have just had a tax rise and if sterling is to fall to parity, that £4 becomes £14.

[B0ycey]

The Tories have reverted to type. I can't see this going down well with the masses. Let's see what the pollsters make of it in the coming days and weeks.

To be honest Steve, I have been saying this to T00ts and the Toryites about Dizzy Lizzies economic policies before she became PM. I tried to tell everyone she was going to bankrupt the country and give tax cuts for the rich and the responses I received on here is that we should give her a chance and not call her names. You don't need to be notradamus to look at her policies and see who benefits and that it is also a expensive gamble that is unlikely to work. I read Citigroup say that the pound is very likely to parity with the dollar now which is ironic given Nick seems to think a currency that mirrored the Dollar at its inception being near parity to it is bad last week and now says sterling that has never been at parity with the dollar as good news for us.

[Good old]

Learn to read.

You said the 7% VATwas forced on us by the EU.  We are not in the EU VAT as a percentage of any amount charged now  has nothing to do with the EU. Learn to know who exactly uses VAT to tax us.

[srb7677]

Billions just taken off NI contributions, the tax that Steve says is a lesser tax for the rich. Therefore this helps the poor massively.

Everybody is getting the same 1.25 percent reduction. 

So the rich are seeing their contribution slashed from al already low 3.25 percent to 2 percent, whilst the rest of us are seeing a cut from 13.25 percent to 12 percent.

Do the maths. This is yet another example of helping the rich vastly more.

[cromwell]

Billions just taken off NI contributions, the tax that Steve says is a lesser tax for the rich. Therefore this helps the poor massively.

And you had the cheek to accuse me of not answering your post,what are you doing here?

[srb7677]

Sounds good to me, especially the Corporation Tax.

I knew you'd love it.

Your sympathies have always been with the wealthiest whom you imagine to be most hard done by.

Now we have a government that is brazenly on the side of the rich. Which is right up your street.

But you'll only have two years of this cos it will gift the next election to Starmer.

[srb7677]

They have also abolished the 45p tax rate for high earners, which exclusively benefits those on 6 figure incomes and above. Doesn't help anyone else.

And the increase in the stamp duty threshold only helps those buying more expensive houses.

This is all about helping the rich. 45 percent of the gains accrue to the already wealthiest 5 percent

The Tories have reverted to type. I can't see this going down well with the masses. Let's see what the pollsters make of it in the coming days and weeks.

[Nick]

Yes I posted it again because you appear to have ignored it
So are you saying that when there was in place a fair amount that disabled had to pay which a tory govt ripped up and said charge what you like is ok?
Yes you are fully aware because you go on to say it is driven by a lack of funding from central govt.

Not deliberate.....so they didn't know what the result would be?

Yes they did.
So in a less than ideal world you are saying it is ok to give bankers carte blanche on bonuses (we're still paying the price) when they brought this country to it's knees also give the biggest breaks to the wealthiest that's fine too but sod the vulnerable.

Billions just taken off NI contributions, the tax that Steve says is a lesser tax for the rich. Therefore this helps the poor massively.