Whose side are they on?

[Sheepy]

What do you mean 'we all have to give it a go?' The budget has just given the rich a tax cut and the poor a tax rise due to inflation. I have no issue with borrowing to get people spending or borrowing in investment. But you have to explain to me here and now how exactly making the rich richer and the poor poorer is going to restart the economy. That isn't a trick question. It is a question of sense. If you want to stimulate growth you give it to the poor given the rich will have money to spend whatever and the poor will be deciding whether they are eating or heating each month. This budget was never about restarting the economy anyway. It was about rewarding the Torys who voted for Truss and then putting a spin on it to make out its about growth to trick the electorate. But I don't see anything coming from this than a bankrupt nation and even the most Conservative economists is saying this is a huge gamble. At the end it will be Labour in two years time who will have to try and sort out the Dizzy Lizards mess.

Says you and the media, personally I don't see the Westminster party surviving another election. because by now if you haven't realised the only side the lot of them are on is their own pocket filling exercise you never will.

[B0ycey]

It might — and I hope this has been taken into consideration. But it might get things ultimately improving.

I guess Treasury thinking is that more of the same, or minor tweaking, isn't growing to shake up business and workers enough to get the economy moving forward.

Anyway, whatever our thoughts, trade union membership, or bloody mindedness, we've all got to give it a go...

What do you mean 'we all have to give it a go?' The budget has just given the rich a tax cut and the poor a tax rise due to inflation. I have no issue with borrowing to get people spending or borrowing in investment. But you have to explain to me here and now how exactly making the rich richer and the poor poorer is going to restart the economy. That isn't a trick question. It is a question of sense. If you want to stimulate growth you give it to the poor given the rich will have money to spend whatever and the poor will be deciding whether they are eating or heating each month. This budget was never about restarting the economy anyway. It was about rewarding the Torys who voted for Truss and then putting a spin on it to make out its about growth to trick the electorate. But I don't see anything coming from this than a bankrupt nation and even the most Conservative economists is saying this is a huge gamble. At the end it will be Labour in two years time who will have to try and sort out the Dizzy Lizards mess.

[patman post]

Or it might make the pound plunge further causing more inflation and making any savings moot.

It might — and I hope this has been taken into consideration. But it might get things ultimately improving.

I guess Treasury thinking is that more of the same, or minor tweaking, isn't going to shake up businesses and workers enough to get the economy moving forward.

Anyway, whatever our thoughts, trade union membership, or bloody mindedness, we've all got to give it a go...

[B0ycey]

BRITS are in line for even MORE tax cuts as Kwasi Kwarteng today hinted that last week's mini budget was "just the start".
The Chancellor trumpeted the £45billion tax slashing spree as a lifeline for workers battling the cost of living hell - and added: "We've only been here 19 days."
https://www.thesun.co.uk/money/news-money/19913653/kwarteng-hints-more-tax-cuts-to-come/

Don't go off on one just yet. Apparently there's more to come and you (and millions more) might just benefit from an improving economy...

Or it might make the pound plunge further causing more inflation and making any savings moot.

[patman post]

I have not been this angry about a budget since 1989

BRITS are in line for even MORE tax cuts as Kwasi Kwarteng today hinted that last week's mini budget was "just the start".
The Chancellor trumpeted the £45billion tax slashing spree as a lifeline for workers battling the cost of living hell - and added: "We've only been here 19 days."
https://www.thesun.co.uk/money/news-money/19913653/kwarteng-hints-more-tax-cuts-to-come/

Don't go off on one just yet. Apparently there's more to come and you (and millions more) might just benefit from an improving economy...

[cromwell]

Mod Notice

Posts removed,take it to. Pm's if you wish to continue arguing.

Thanks

[srb7677]

I have not been this angry about a budget since 1989

[cromwell]

MOD NOTICE

SRB and Sheepy have had a difference of opinion which has now been moved to OFF topic thread.

[Good old]

The rich only do better because of the mechanics of percentages. There is no conspiracy to hit the poor.

As you know that, it should follow that you should know that the constant use of percentages is always going to increase the divide in actual wealth. You know it makes the  poor poorer in comparison. That's not just a conspiracy to make the poor poorer ,it's an actual fact that's what you do.

[Sheepy]

Trickle down is tantamount to buying an already obese rich man a slap up meal in the expectation that he will let you lick the last crumbs off his plate when he is finished.

After which he will make you wash it whilst saying you should be grateful for the work.

Wait until next week when they put up interest rates again to save a sinking pound. You will still be trying to work it out.

[srb7677]

I guess trickle down has taken a new turn, you are surplus to requirements.

Trickle down is tantamount to buying an already obese rich man a slap up meal in the expectation that he will let you lick the last crumbs off his plate when he is finished.

After which he will make you wash it whilst saying you should be grateful for the work.

[Sheepy]

It is not just the mechanics of percentages, though that itself nakedly favours the rich. Abolition of the 45p rate exclusively and only helps those on 150k plus. In other words a hefty tax cut exclusively for the rich.

What we are seeing here is massive redistribution upwards funded by massive public borrowing.

I guess trickle down has taken a new turn, you are surplus to requirements.

[srb7677]

The rich only do better because of the mechanics of percentages. There is no conspiracy to hit the poor.

It is not just the mechanics of percentages, though that itself nakedly favours the rich. Abolition of the 45p rate exclusively and only helps those on 150k plus. In other words a hefty tax cut exclusively for the rich.

What we are seeing here is massive redistribution upwards funded by massive public borrowing.

[cromwell]

The rich only do better because of the mechanics of percentages. There is no conspiracy to hit the poor.

Who mentioned conspiracy,it's just couldn't give a toss.

[Nick]

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.

The rich only do better because of the mechanics of percentages. There is no conspiracy to hit the poor.