As you are a very slippery customer, it is not as ridiculous as you claim it to be.
Budget
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As you are a very slippery customer, it is not as ridiculous as you claim it to be.
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I don't "hate them": what I do baulk at however, is a system where the country has rarely been in as much debt, has rarely had as high a taxation burden, public services collapsing, privatised services holding the country to ransom for bail-outs, yet has also never had as many super-rich.........while there are a growing number of people who can barely afford to exist, let alone live.
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You do recall we had a pandemic which resulted in a 2 1/2 year pause to the economy with half the UK on 2k a month benefits? (or whatever the actual amount was).
Do you remember the financial crisis under the last government. Quite a few bailouts then.
Do you remember the financial crisis under the last government. Quite a few bailouts then.
I don't want UK to be in unattractive place to live.
Potholed roads, rundown hospitals, collapsing school roofs and sewage filled rivers and beaches matter to me.
Cutting public services so that the rich can have an easy ride, not so much.
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The government borrowed / conjured up over half a trillion pounds to keep the country going. And good job too.
Where did that money end up?
In other news, the rich saw their wealth skyrocket..............
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£96Bn went to people who were forcibly out of work. I carried on working, didn't get a penny and kept paying my taxes. I even did some free work to help one of the vaccine manufacturers
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No not personally but you did say a lot of rich people would move rather than pay taxes.
I challenged you and said we always hear that empty threat. Just wondered if the taxes were bad enough to make you (or many others) move. Just taking you as a guideline suggests its not likely to be many that do.
And?
£96B doesn't just vanish into thin air.
(Well, it doesn't if it is paid to those in the lower echelons of the UK wealth pyramid).
Did they use it to:
- buy a second, third, or fourth rental?
- expand their burdgeoning stock portfolio?
- offshore it, to avoid tax?
Or, did they use it to survive? Which, incidentally, meant moving it to those who would do as above.
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You really do have this view that the wealthy feed off the poor.
Four legs good, two legs bad.
Where DO you think "the wealthy" get their money from?
Elon didn't get rich selling rockets and Teslas to Jeff, did he?
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They come up with really cool ideas, work their ars@s off, build something that everyone wants and is happy to pay for. They normally disrupt the fat and happy players in the market in Elon's case - the Banks and motor mafia and in both Jeff and Elon's case the unique in their business is full control of the supply chain. Sorry you didn't have the idea to build an online bookstore or a secure way for buyers and sellers to pay and collect money safely.
But the fact is you didn't, and neither did you invent the iPod, the iPhone, or any number of cool things that smart people came up with. It's up to you if you buy from amazon, drive a Tesla or own an iPhone. Nobody is feeding off you, they are providing you with something you want.
and of course they re-invest profits in growth, because they don't make investment strategies based on "tax paid on profits". That would be silly.
One of the reports I posted compared taxation levels over a number of countries. I didn't post the image as it would have been a bit hard to read. It's interesting to look at which ones collect more.
From the OBR
2.13Labour supply growth falls from 0.9per cent in 2024to around 0.5 per cent in 2029, mainly driven by the drag on average hours worked from an ageing population.Labour supply is broadly unchanged from our March forecast. This is because higher average hours and fiscal outlookin outturn broadly offset a lower adult population in outturn and a lower employment rate (both from outturn data and the impact of the increase in employer NICs). The key drivers of the forecast are
•The adult population rises from 55.2 million in 2024 to 57.3 million in 2029. The Labour Force Survey (LFS) outturn for adult population in the second quarter of 2024 was 153,000 lower than we had expected in March,a difference that is largely carried through into the forecast. But this does not fully reflect the recent strength in net migration. The adult population growsat a similar pace as in our March forecast, largely (around two-thirds) driven by net migration.
•Trend average hours worked fall gradually over our forecast from 31.9 in 2024 to 31.8 in 2029, reflecting the drag of an ageing population. Relative to our March forecast, trend average hours are 0.7 per cent higher in 2024 due to stronger-than-expected outturn data for the first half of 2024. But the cumulative percentage fall over the forecast(and, therefore, contribution to potential output growth)is similar to March, at around½per cent.
From the OBR
2.13Labour supply growth falls from 0.9per cent in 2024to around 0.5 per cent in 2029, mainly driven by the drag on average hours worked from an ageing population.Labour supply is broadly unchanged from our March forecast. This is because higher average hours and fiscal outlookin outturn broadly offset a lower adult population in outturn and a lower employment rate (both from outturn data and the impact of the increase in employer NICs). The key drivers of the forecast are
•The adult population rises from 55.2 million in 2024 to 57.3 million in 2029. The Labour Force Survey (LFS) outturn for adult population in the second quarter of 2024 was 153,000 lower than we had expected in March,a difference that is largely carried through into the forecast. But this does not fully reflect the recent strength in net migration. The adult population growsat a similar pace as in our March forecast, largely (around two-thirds) driven by net migration.
•Trend average hours worked fall gradually over our forecast from 31.9 in 2024 to 31.8 in 2029, reflecting the drag of an ageing population. Relative to our March forecast, trend average hours are 0.7 per cent higher in 2024 due to stronger-than-expected outturn data for the first half of 2024. But the cumulative percentage fall over the forecast(and, therefore, contribution to potential output growth)is similar to March, at around½per cent.
A lot of fancy words, but the fact remains that someone has to buy their goods / services.
Money flows upwards.
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I think it's an ideology thing for you. You just can't see how they can be wealthy without someone else being poor as a result.
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