Tax rises and the Autumn statement

[JohnD]

What crisis?

"The total number of company insolvencies registered in 2022 was 22,109 — 57% higher than 2021 ©

Daria Mosolova and Daniel Thomas in London JANUARY 31 2023

More UK companies went bust last year than at any point since the financial crisis as soaring inflation, rising interest rates and the stalling economy hit businesses.

The total number of company insolvencies registered in 2022 was 22,109 — the highest since 2009 and 57 per cent higher than 2021 — according to data issued on Tuesday by the Insolvency Service, a government agency that deals with bankruptcies and companies in liquidation.

Christina Fitzgerald, president of R3, an insolvency and restructuring trade body, added that “2022 was the year the insolvency dam burst”, as pandemic-era government support for companies was wound down.

The construction, retail and hospitality sectors have been hit particularly hard, according to Insolvency Service data, given their exposure to the faltering economy and falling consumer confidence."

UK companies fail at fastest rate since financial crisis

Insolvencies reach highest level since 2009 and mortgage approvals slide amid housing market downturn

www.ft.com

 

[Mottie]

Does anyone think Tory austerity solved the last financial crisis?

What crisis?

The one between 2010 and 2023

Can’t say I’ve noticed.

I do remember this one though, which was what I was referring to in my first comment. Younger members of this forum could do with educating that the 'other lot' do 'ave 'em too! Got any figures/graphs/statistics for that period of government, Johnny boy, or should we call you 'Statto'?

 

[blup]

FT calls this a "poison pill" as he does not expect the Con government to stay in power long enough to have to deal with the problems he is creating.

Its the tory version of the note labour left in 2010 saying theres no more money. Starmer is being set up but desperate for power will probably not reverse the cuts.

Blup

 

[Notch7]

Younger members of this forum could do with educating that the 'other lot' do 'ave 'em too! Got any figures/graphs/statistics for that period of government

I remember it well Mottie, 3 million unemployed lasting over 4 years. Terrible times.


“Under Mrs Thatcher’s government, UK unemployment reached its highest post WW2 record. It was over 3 million for 4 long years, a level it has not reached even in difficult times before or since”

Not great at all – the Thatcher government’s economic record and legacy - Prime

Last week, we pulled together and tweeted a set of charts (including a few screenshots of charts we found) about the Thatcher government’s economic record. They show that on all key fronts, her government failed, absolutely or by comparison with other UK governments over the last 60 or so years...

www.primeeconomics.org

 

[Mottie]

I remember it well Mottie, 3 million unemployed lasting over 4 years. Terrible times.


“Under Mrs Thatcher’s government, UK unemployment reached its highest post WW2 record. It was over 3 million for 4 long years, a level it has not reached even in difficult times before or since”

Not great at all – the Thatcher government’s economic record and legacy - Prime

Last week, we pulled together and tweeted a set of charts (including a few screenshots of charts we found) about the Thatcher government’s economic record. They show that on all key fronts, her government failed, absolutely or by comparison with other UK governments over the last 60 or so years...

www.primeeconomics.org

That’s right, don't mention your precious Labour Party…..

 

[Notch7]

Its the tory version of the note labour left in 2010 saying theres no more money. Starmer is being set up but desperate for power will probably not reverse the cuts.

Blup

The problem is that the Tories have created £90b of tax rises for the period between 2019 and 2030 - most of it is freezing thresholds, so tax increases massively as a result of high inflation

And Hunt is cutting public spending by £19b over next 5 years….no wonder Sunak removed NHS waiting lists from his pledges.

 

[blup]

The problem is that the Tories have created £90b of tax rises for the period between 2019 and 2030 - most of it is freezing thresholds, so tax increases massively as a result of high inflation

And Hunt is cutting public spending by £19b over next 5 years….no wonder Sunak removed NHS waiting lists from his pledges.

Not convinced stamers approach will resolve it, getting doctors to do overtime is unlikely to be successful given recent industrial relations.

Blup

 

[Brigadier]

Its the tory version of the note labour left in 2010 saying theres no more money. Starmer is being set up but desperate for power will probably not reverse the cuts.

Blup

Hunt might be a tnuc, but he's not stupid.

My take is that he wouldn't (loudly and gleefully) trumpet the trashing of the economy, as this would knacker any future chances of him becoming PM.

Give Labour a five-year kicking, then slip into the big seat?

 

[Notch7]

Its the tory version of the note labour left in 2010 saying theres no more money. Starmer is being set up but desperate for power will probably not reverse the cuts.

Blup

”desperate for power”

Is it wrong to want to win power, you make it seem like a negative

 

[blup]

Hunt might be a tnuc, but he's not stupid.

My take is that he wouldn't (loudly and gleefully) trumpet the trashing of the economy, as this would knacker any future chances of him becoming PM.

Give Labour a five-year kicking, then slip into the big seat?

Cant see stammer lasting more than a term, but **** will have to reinvent himself because cruella is going to seem mainstream when the loony right wingers take over the tory asylum. Political leanings aside, labour should be much more to the left on major issues otherwise it will forever be playing catch up with the tories as they lurch ever further to the right.

Blup

 

[Notch7]

Not convinced stamers approach will resolve it, getting doctors to do overtime is unlikely to be successful given recent industrial relations.

Blup

Labour are trying to explore short term options…there aren’t any really.

but they also have longer term plans: “Labour has said it would train 7,500 more doctors and 10,000 more nurses a year”


the structural problems in this country would take a decade to solve….and impossible with the constant propaganda and gaslighting from the media.


Until we control the media and get rid of our broken political system, we will just continue on the current cycle

 

[blup]

”desperate for power”

Is it wrong to want to win power, you make it seem like a negative

Well if your happy with bliar v2 who was thatcher v2.

Blup

 

[Brigadier]

”desperate for power”

Is it wrong to want to win power, you make it seem like a negative

It's the only guaranteed way you can achieve anything, after all

 

[Notch7]

labour should be much more to the left on major issues

If they were they wouldn’t win.

Labour are battling against the lies, gaslighting and propaganda of right wing populism, there’s no space for serious political debate.

Starmer is doing the only thing Labour can do to win: avoid Tory traps and attack lines

 

[Notch7]

Well if your happy with bliar v2 who was thatcher v2.

Blup

Politics is far more nuanced than that.

Calling Blair “Bliar“ makes you sound like a Corbyn cultist


You are looking only at political policy not strategy.

You say “Starmer should be much more to the left” - please can you explain which left wing policies Labour would be able to win with.