Westminster Politics

Watching the Sturgeon inquiry live stream, this is mental that it's streamed on YouTube
 
So the tax free allowance is frozen until 2026, which will impact the lowest earners more than anyone.
 
He speaks well, looks smart, and has given us free money. I’d say that’s why.
 
CT increases to 25% from 2023, but with the 19% rate remaining for companies with profits up to £50K, then tapered so that only profits over £250k will pay the 25% rate.

feck me I’m glad I don’t have to sit any CT exams again :lol:
 
Haven’t the Tories been telling us for years you raise more Money through CT by reducing the rate?
 
I’m going to...

That’s why I will be...

I am so proud to be able to...

I am making us the biggest and best...

I pledge billions into...



...with your money.
 
So many words to say so little. I hate politicians with a passion.
 
Good for small businesses, thought it was a well thought out budget. Although clearly we need some time to digest.

won’t go down well here, just because it’s the Tories reading it out.
 
I don't get it. With nearly all thresholds and taxes frozen how is he going to tackle the deficit? Is he leaving it for Labour in 2/3 years time?
 
ClaytonBlackmoorLeftPeg said:
Good for small businesses, thought it was a well thought out budget. Although clearly we need some time to digest.

won’t go down well here, just because it’s the Tories reading it out.
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And of course our resident right wingers would be screaming murder if Labour proposed CGT increases. We have proof enough of that.

It's not a terrible budget, a little limited perhaps. This super deduction plan seems potentially hazardous. I'll be keen to see the analysis on it as you'd think it could be easily exploited.
 
Smores said:
And of course our resident right wingers would be screaming murder if Labour proposed CGT increases. We have proof enough of that.

It's not a terrible budget, a little limited perhaps. This super deduction plan seems potentially hazardous. I'll be keen to see the analysis on it as you'd think it could be easily exploited.
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touche. Personally, I’m a centralist...

Unfortunately many initiatives get exploited because the admin is extremely difficult/ cumbersome to get in place - political parties aside.

I didn’t want anything dramatic - now is not the time, too much uncertainty. We know we need to pay this back, but we can wait until we get out of Covid and really understand the economic playground on which we stand.
 
esmufc07 said:
Haven’t the Tories been telling us for years you raise more Money through CT by reducing the rate?
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Look at what happening to California. It doesn't seem like a good long term strategy for maintaining business presence, more business = more job creation.
Raising rates will likely be a short term prospect and generate quick access to more cash. Finding the sweet spot will always be the cause for contention.
 
Dumbstar said:
I don't get it. With nearly all thresholds and taxes frozen how is he going to tackle the deficit? Is he leaving it for Labour in 2/3 years time?
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He said he’s going to be very hard on corporations in 2023.
He also said he’s going to increase the loss that can be offset.

I can’t imagine what corporations might be planning.
 
Pexbo said:
He said he’s going to be very hard on corporations in 2023.
He also said he’s going to increase the loss that can be offset.

I can’t imagine what corporations might be planning.
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that applies to any tax change, it’s incumbent on business to effectively manage their business with effective tax planning - it’s almost as if you are saying, why bother?
 
Pexbo said:
He said he’s going to be very hard on corporations in 2023.
He also said he’s going to increase the loss that can be offset.

I can’t imagine what corporations might be planning.
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The more you take it in the more it appears a substantial tax cut for most businesses. It'll be easier than ever for large businesses not to pay any tax even if they just maintain current investment levels.

They've decided the people will pay for the covid debt but they're too cowardly to announce it and hiding it through freezes.
 
I don't get Sunak's appeal at all. He is a hard-core tory, a privileged dickhead trying very hard to come off as a regular guy. I think it will be a mistake for Tories to ditch Boris for this guy; I can't imagine his appeal is as broad. He certainly won't command as much adoration post furlough.
 
RedChip said:
I don't get Sunak's appeal at all. He is a hard-core tory, a privileged dickhead trying very hard to come off as a regular guy. I think it will be a mistake for Tories to ditch Boris for this guy; I can't imagine his appeal is as broad. He certainly won't command as much adoration post furlough.
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Me too. Ok, he speaks well. But quite honestly, anyone can throw money around in a national emergency.
His plans to balance the economy in this budget are hardly clever. And everything he says is totally predicted on low interest rates which is a massive risk. It is already understood that global interest rates are going to go up over the next few years.
 
Smores said:
The more you take it in the more it appears a substantial tax cut for most businesses. It'll be easier than ever for large businesses not to pay any tax even if they just maintain current investment levels.

They've decided the people will pay for the covid debt but they're too cowardly to announce it and hiding it through freezes.
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Yeah the investment incentive sounds ripe for abuse unless it has quite strict, measurable parameters. The UK has appalling figures for business investment and productivity, so can see what he's trying to do, but if it means I can buy a load of office chairs and write 130% of that off my tax bill, then it will be an expensive disaster.
 
Rado_N said:
CT increases to 25% from 2023, but with the 19% rate remaining for companies with profits up to £50K, then tapered so that only profits over £250k will pay the 25% rate.

feck me I’m glad I don’t have to sit any CT exams again :lol:
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So Brexit has forced many multinationals to leave Britain and now there you are putting up another barrier to trade by increasing corp tax. feck me I would like to see the logic behind that decision
 
Buster15 said:
Me too. Ok, he speaks well. But quite honestly, anyone can throw money around in a national emergency.
His plans to balance the economy in this budget are hardly clever. And everything he says is totally predicted on low interest rates which is a massive risk. It is already understood that global interest rates are going to go up over the next few years.
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the fact he even quoted the additional cost of govt borrowing if IR inc by 1% and stated rates would rise doesn’t help your argument.

The best chancellors we’ve had in the past 30 years are Brown and Sunak.
 
Smores said:
The more you take it in the more it appears a substantial tax cut for most businesses. It'll be easier than ever for large businesses not to pay any tax even if they just maintain current investment levels.

They've decided the people will pay for the covid debt but they're too cowardly to announce it and hiding it through freezes.
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how is it hiding it through freezing the marginal tax rates?

Even a sun reader knows that’s a real terms tax increase.
 
Buster15 said:
Me too. Ok, he speaks well. But quite honestly, anyone can throw money around in a national emergency.
His plans to balance the economy in this budget are hardly clever. And everything he says is totally predicted on low interest rates which is a massive risk. It is already understood that global interest rates are going to go up over the next few years.
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It seems clear that he doesn't want to announce income tax rises between the end of the Covid crisis and the GE in 2025 so he's frozen allowances until 2026 - tax rises in real terms by stealth.
CT rise in 2023 is interesting as I am expecting the full effects of Brexit to start really kicking in around 2023.

I remember one of the first arguments about Brexit way before the referendum was that VAT would be reduced and the EU was preventing that. Anyway ten years after the referendum it apparently will still be the same .

Looking forward to the next load of Brexit comical histrionics regarding Freeports. Should be funny.
 
ClaytonBlackmoorLeftPeg said:
the fact he even quoted the additional cost of govt borrowing if IR inc by 1% and stated rates would rise doesn’t help your argument.

The best chancellors we’ve had in the past 30 years are Brown and Sunak.
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Definitely agree with you about Gordon Brown.
But there is absolutely no supporting evidence for Sunak because he hasn't been in the job long enough to be able to make a reasoned judgement.
 
Another plus from me for Gordon Brown. I didn't catch what Sunak said about interest rates rising, but I can say they could rise by a lot more than 1%, and I think I've read 50% of UK debt is due for repayment in 10 years or less. Anyone that isn't frightened by that should be.
 
711 said:
Another plus from me for Gordon Brown. I didn't catch what Sunak said about interest rates rising, but I can say they could rise by a lot more than 1%, and I think I've read 50% of UK debt is due for repayment in 10 years or less. Anyone that isn't frightened by that should be.
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indeed - the point he was making was that debt would rise by £x per 1% increase.

it’s clearly going to take a lot longer than a decade to pay off. It will be refinanced.
 
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