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Post by martinshrew on Sept 23, 2022 9:34:33 GMT 1
Now that the government are putting money in people's pockets, the criticism moves on to something else.
Same old š“
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Post by Pilch on Sept 23, 2022 9:42:23 GMT 1
Iām no economist, but it does seem that B of E and Govt are pulling in different directions. Bank raise interest rates to reduce demand and therefore inflation, and at the same time the Govt is slashing taxes to get the economy growing. TheGovernor of Bank has apparently written to Govt to tell them that rates will have to rise further to dampen the extra demand caused by the tax cuts! You couldnāt make it up! what do you suggest instead ? |
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Post by staffordshrew on Sept 23, 2022 9:50:44 GMT 1
Iām no economist, but it does seem that B of E and Govt are pulling in different directions. Bank raise interest rates to reduce demand and therefore inflation, and at the same time the Govt is slashing taxes to get the economy growing. TheGovernor of Bank has apparently written to Govt to tell them that rates will have to rise further to dampen the extra demand caused by the tax cuts! You couldnāt make it up! what do you suggest instead ? Perhaps the B of E and "new" Govt getting together and putting a plan on a page before annoucing a shed load of tax changes? |
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Post by martinshrew on Sept 23, 2022 10:03:18 GMT 1
Loved that passionately delivered budget, some excellent schemes supporting business and working.
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Post by staffordshrew on Sept 23, 2022 10:04:57 GMT 1
Loved that passionately delivered budget, some excellent schemes supporting business and working. Yep, just 12 years too late  |
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Post by Pilch on Sept 23, 2022 10:12:22 GMT 1
what do you suggest instead ? Perhaps the B of E and "new" Govt getting together and putting a plan on a page before annoucing a shed load of tax changes? why don't you just say its time to revoke the Bank of Englands independence instead of asking why the government are not setting up a cartel with them  |
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Post by frankwellshrews on Sept 23, 2022 10:36:43 GMT 1
Loved that passionately delivered budget, some excellent schemes supporting business and working. Lots of noise about "tax cuts" but so far all we've actually seen is the reversal of a previous Tory rise that will net people, by the chancellor's own words, an average of Ā£330 a year followed by a point off basic rate which will net people at most another 30 odd quid a month next year. The only real cut for workers was the 5 points a fraction of employees will get on income above Ā£150k. Absolutely no mention at all of the much touted lifting of the higher rate threshold. Struggle to see how that does a great deal for workers who will be seeing energy bills alone double from this tome last year. 6 points off corporation tax though. |
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Post by northwestman on Sept 23, 2022 10:54:16 GMT 1
Meanwhile - smoke and mirrors from the Chancellor, cutting income tax by 1p but retaining the freeze on personal allowances, which has in the past been raised in line with inflation. The current allowance is Ā£12,570. Let's say that inflation next month is 10%, when calculations for next year are made. That would raise the allowance to Ā£13,827 giving an extra Ā£276 reduction in tax (20% of Ā£1,382). Whereas with a 1p cut in income tax, you aren't paying any income tax until you've earned Ā£12,570 and every Ā£1,000 above that, you'll pay Ā£10 less tax. So you'll need to be earning approx Ā£41,000 (Ā£28,000 + Ā£12,570) for the 1p cut to be more beneficial than unfreezing the personal allowances. And don't forget the personal allowances are frozen until 2026. Therefore, once again the better off benefit more from the tax cut. Anyone earning or having a pension of less than Ā£41,000 is worse off than if the personal tax allowances were unfrozen. www.lbc.co.uk/news/truss-income-tax-thresholds-vat-sunak-cost-of-living-crisis/A senior ally of Ms Truss said she was "certain" to end the four-year freeze in income tax thresholds - initially brought in to help pay off Covid costs - according to the Daily Mail. "One thing you can be certain of is the freeze on thresholds is going to end early," the source told the paper. "When inflation is running at 10 per cent you cannot have the thresholds frozen because you will have people paying a higher proportion of tax on their income at a time when bills are going through the roof." The freeze - forecast to raise Ā£8.1billion a year - was introduced when inflation was below two per cent. However, Business Secretary Kwasi Kwarteng - tipped to serve as Chancellor under Ms Truss - is expected to look at raising the basic rate threshold of Ā£12,570 as well as the 40 per cent higher rate threshold of Ā£50,270. He is also expected to consider bringing forward a 1p cut in the basic rate of income tax, which was not due to come into force until 2024. Err, another promise reneged upon it would seem. |
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Post by staffordshrew on Sept 23, 2022 10:58:15 GMT 1
Loved that passionately delivered budget, some excellent schemes supporting business and working. Lots of noise about "tax cuts" but so far all we've actually seen is the reversal of a previous Tory rise that will net people, by the chancellor's own words, an average of Ā£330 a year followed by a point off basic rate which will net people at most another 30 odd quid a month next year. The only real cut for workers was the 5 points a fraction of employees will get on income above Ā£150k. Absolutely no mention at all of the much touted lifting of the higher rate threshold. Struggle to see how that does a great deal for workers who will be seeing energy bills alone double from this tome last year. 6 points off corporation tax though. Haven't even restored the rise in threshholds stopped last year have they? |
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Post by northwestman on Sept 23, 2022 10:59:59 GMT 1
Lots of noise about "tax cuts" but so far all we've actually seen is the reversal of a previous Tory rise that will net people, by the chancellor's own words, an average of Ā£330 a year followed by a point off basic rate which will net people at most another 30 odd quid a month next year. The only real cut for workers was the 5 points a fraction of employees will get on income above Ā£150k. Absolutely no mention at all of the much touted lifting of the higher rate threshold. Struggle to see how that does a great deal for workers who will be seeing energy bills alone double from this tome last year. 6 points off corporation tax though. Haven't even restored the rise in threshholds stopped last year have they? No, and it's not scheduled to be unfrozen until 2026! |
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Post by staffordshrew on Sept 23, 2022 11:02:24 GMT 1
Perhaps the B of E and "new" Govt getting together and putting a plan on a page before annoucing a shed load of tax changes? why don't you just say its time to revoke the Bank of Englands independence instead of asking why the government are not setting up a cartel with them There's indepenence and having the same end goal. You don't seem to have grasped that. |
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Post by Deleted on Sept 23, 2022 11:05:22 GMT 1
A good letter from Thornberry scrutinising the purchase card spend of the foreign office and the lack of accountability.
Quite why the foreign office is spending Ā£1800 in the Norwich City club shop is beyond me!
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Post by Worthingshrew on Sept 23, 2022 11:29:57 GMT 1
Iām no economist, but it does seem that B of E and Govt are pulling in different directions. Bank raise interest rates to reduce demand and therefore inflation, and at the same time the Govt is slashing taxes to get the economy growing. TheGovernor of Bank has apparently written to Govt to tell them that rates will have to rise further to dampen the extra demand caused by the tax cuts! You couldnāt make it up! what do you suggest instead ? Well for a start, policies that donāt cancel each other out! |
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Post by northwestman on Sept 23, 2022 12:35:00 GMT 1
www.theguardian.com/commentisfree/2022/sep/23/liz-truss-power-extreme-neoliberal-thinktanksWho chose Liz Truss? Conservative party members, of course. Who are they? Disproportionately rich, white, older men living in the south of England. But there are some members whose profile we have no means of knowing. They donāt live in the UK, have never been residents or citizens here and have no right to vote in our elections. Astonishingly, since 2018 these foreign members have been permitted to determine who the UK prime minister should be. The Conservative partyās rules of association are an open invitation to anyone who wants to mess with our politics. There seems to be nothing to stop agents of another government from registering as members with Conservatives Abroad. Nor, it seems, is there anything to stop one person (or one botswarm) applying for multiple memberships. So much for the party of patriotism, sovereignty and national security. bylinetimes.com/2022/07/26/conservatives-posture-about-foreign-enemies-while-ignoring-own-membership-rules/
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Post by staffordshrew on Sept 23, 2022 13:00:12 GMT 1
Truss again rewards her supporters.
But these upper earners were not the people Boris got on side to achieve the last election result. Upper earners don't get you an 80 seat majority.
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Post by Pilch on Sept 23, 2022 14:51:05 GMT 1
A good letter from Thornberry scrutinising the purchase card spend of the foreign office and the lack of accountability. Quite why the foreign office is spending Ā£1800 in the Norwich City club shop is beyond me! more cuts and you still moan |
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Post by frankwellshrews on Sept 23, 2022 14:57:51 GMT 1
Truss again rewards her supporters. But these upper earners were not the people Boris got on side to achieve the last election result.Ā Upper earners don't get you an 80 seat majority. The stuff on IR35 was a bit vague but wonder if that might impact a few more " middle income" folks? |
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Post by Pilch on Sept 23, 2022 15:05:52 GMT 1
what do you suggest instead ? Well for a start, policies that donāt cancel each other out! and this is parliamentary sleaze we are on about ? |
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Post by Deleted on Sept 23, 2022 15:09:14 GMT 1
A good letter from Thornberry scrutinising the purchase card spend of the foreign office and the lack of accountability. Quite why the foreign office is spending Ā£1800 in the Norwich City club shop is beyond me! more cuts and you still moan Good questions from Emily Thornberry though arenāt they? |
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Post by Pilch on Sept 23, 2022 15:14:27 GMT 1
more cuts and you still moan Good questions from Emily Thornberry though arenāt they? I'll have a look when I get my microfiche reader out ;-) |
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Post by northwestman on Sept 24, 2022 9:23:26 GMT 1
www.theguardian.com/politics/2022/sep/23/liz-truss-questions-foreign-office-spending-hair-norwich-cityThe Foreign Office, under Liz Trussās leadership, is facing questions about its spending on credit cards including Ā£1,841 at Norwich City football club online, and Ā£10,000 at Fortnum and Mason. Emily Thornberry, the shadow attorney general, wrote to the Foreign Office questioning why spending was up by 45% on its government procurement cards between September 2021 to July 2022. She asked Gillian Keegan, a senior minister, to give more details about the spending on a range of items, including luxury restaurants and premium home decor brands such as White Company, Ercol furniture and Osborne and Little, a supplier of fabric and wallpaper. The Foreign Office declined to provide explanations to Thornberry saying it would cost too much money, so the shadow attorney general went public with a letter to Keegan. Data on the FCDOās spending shows thousands spent on high-end restaurants, such as the Cinnamon Club, the Corinthia hotel, Stanleyās in Chelsea and the Kennington Tandoori, a famous haunt of politicians. Thornberry also queried more than Ā£900 to Calm Over Chaos, which appears to supply adult colouring books, and Ā£1,850 to Soul Sanctuary, which may be a wellness app. There were two payments of more than Ā£4,000 in total to a barber company called Finishing Touches, although it is understood this relates to general maintenance rather than beauty. Thornberry told Keegan it was difficult to understand the amounts spent on āhigh-end private catering; wellness and beauty treatments; extensive supplies from UK wineries; large amounts of home furnishing; and even Ā£1,841 at the Norwich City club shopā.
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Post by davycrockett on Sept 24, 2022 10:05:25 GMT 1
I think the most shocking fact to come out if The biggest tax cuts in 50 years is that you need to be earning Ā£155,000 + to be paying less tax (after the mini budget) than at the beginning of this Parliament.
With all the discontent resulting in record strikes is the average working man going to accept his bosses saving >Ā£50k a year on tax whilst heās paying more with inflation in double figuresā¦..
Not really sure this is going to be a vote winner or keep the back benches quiet. A winter if discontent at best.
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Post by stfcfan87 on Sept 24, 2022 19:07:57 GMT 1
Nothing dodgy about this at all
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Post by zenfootball2 on Sept 24, 2022 19:14:08 GMT 1
Nothing dodgy about this at all no conflict of intrests ? |
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Post by zenfootball2 on Sept 24, 2022 19:15:36 GMT 1
I think the most shocking fact to come out if The biggest tax cuts in 50 years is that you need to be earning Ā£155,000 + to be paying less tax (after the mini budget) than at the beginning of this Parliament. With all the discontent resulting in record strikes is the average working man going to accept his bosses saving >Ā£50k a year on tax whilst heās paying more with inflation in double figuresā¦.. Not really sure this is going to be a vote winner or keep the back benches quiet. A winter if discontent at best. it is just obscene but is any one suprised. |
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Post by northwestman on Sept 27, 2022 10:00:19 GMT 1
www.theguardian.com/politics/2022/sep/27/ethics-rules-for-london-mayor-must-be-strengthened-review-finds-boris-johnson-jennifer-arcuriEthics rules for the London mayor must be strengthened as Boris Johnson may have failed to meet the standard expected of public figures over his failure to declare personal links to the US businesswoman Jennifer Arcuri, an inquiry into the affair has found. An investigation by the Greater London Authorityās oversight committee said Johnson had opened himself up to āa perception of lack of due process and favouritismā over Arcuriās inclusion on trade missions in an unofficial capacity. The inquiry is the latest in a long-running saga concerning Johnson and his relationship with Arcuri, an American entrepreneur whose startup was given Ā£126,000 in sponsorship money and was allowed on three trade trips with the mayor in 2014 and 2015. Arcuri has signalled that the pair were at one point in a relationship and a previous inquiry found there was some evidence of this.
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Post by Dancin on Sept 27, 2022 15:56:15 GMT 1
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kp
Midland League Division One
Posts: 495
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Post by kp on Sept 27, 2022 15:59:03 GMT 1
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Post by Dancin on Sept 27, 2022 16:10:43 GMT 1
Yep, according to Sky News, just flashed up on my phone |
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Post by martinshrew on Sept 27, 2022 16:10:53 GMT 1
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