Re: Brexit Development(s) Discussion
 

It's not "well known" if you reduce taxes on business entrepreneurs respond. If this was true why haven't taxation rates reduced to zero? If they reduced to zero, where does public service funding come from? Personal tax. Who is worse off? Individuals while multinationals hive off their profits to other countries anyway.

It's an economic theory speculative at best to shift the tax burden from the extremely well off, who take income as capital gains and dividends, to the poor who pay under PAYE.

Our trade with the EU will remain largely the same? Totally contradicts your first point. By adding tariffs and paperwork surely entrepreneurs will respond negatively?

Unless of course you are making it all up as you go along.

Re: Brexit Development(s) Discussion
 

Don't be ridiculous, jfman. As one who claims to be an expert in economics, this is pretty poor form.

On tax. If tax reduced to zero, you would not gain any revenue. Why do you always resort to extreme views like this? You also wouldn't get any revenue if you increased it to 100% because there would be no incentive to work. Obviously.

Income tax cuts reduce the amount individuals and families pay on wages earned. When people can take home more of their pay, consumer spending increases. This personal consumption drives almost 70% of the economy because it’s one of the four components of gross domestic product.

Capital gains tax cuts reduce taxes on sales of assets. That gives more money to investors. They put more money into companies, through stock purchases, helping them grow. It also drives up the prices of housing and other real estate, oil, gold, and other assets.

Business tax cuts reduce taxes on profit. These give more money to companies to invest and hire workers.

As for the EU, the impact of tariffs works both ways, and you are forgetting about our trade with the rest of the world increasing.

Could do better, jfman.

Re: Brexit Development(s) Discussion
 

EU has agreed Brexit delay until January 2020

https://news.sky.com/story/eu-has-ag...-tusk-11847480

Re: Brexit Development(s) Discussion
 

The British Government's forecasts all include these benefits but they're thoroughly outweighed by the reduced trade with the EU. As previously pointed out.

Moving on, good see the EU has agreed to Boris's request to postpone Brexit to 31 January 2020 as Dave has posted.

Re: Brexit Development(s) Discussion
 

One of the conditions the owners have placed on it being kept open, is certain negotiations with the trade unions. I don't know if, or how any negotiations have gone.

There is still the final EU negotiations yet to come, so any "deal" or "no deal" is not yet relevant.

Worldwide car production is being reduced, so outside of Brexit there are problems, temporary shutdowns, and closures.

If the EU were truly interested in a "level playing field", they would stop propping up other EU countries. EG Poland gets 9bn/year, and that's on top of the over £1bn the country gets from the UK, from Poles living here.

Re: Brexit Development(s) Discussion
 

Re: Brexit Development(s) Discussion
 

I'm applying your flawed theory to the extreme. Tell me what part of reducing taxes on businesses I failed to apply in my example?

I didn't forget the hypothesised increased trade with the rest of the world. You specifically, in the absence of any evidence at all, claimed trade with the EU remains much the same. Despite your contradictory view that taxes and red tape should be reduced on businesses to promote entrepreneurs. Both cannot be true.

Re: Brexit Development(s) Discussion
 

You posited the proposition, you provide the proof - Sajid and I aren’t on the same forum... ;)

However, to counterpoint your proposition

https://www.latimes.com/business/sto...ment-imf-finds Personal tax cuts for the lower paid boost business, as these people spend it on consumables (mainly), whilst Corporate tax cuts recently have been used for share buy-back or to increase reserves, rather than investment in the business.

Re: Brexit Development(s) Discussion
 

As previously pointed out, only certain benefits of leaving the EU have been taken into account - the obvious ones, such as reduction in contributions. The economists have absolutely no idea how business will respond to more flexible and understandable legislation and massive new trading opportunities. I understand the reasons for that, but these forecasts should have come with a health warning, because they are largely one-sided.

Not sure why you are cock-a-hoop about yet another postponement. Most people want to get Brexit done.

Re: Brexit Development(s) Discussion
 

The majority wanting to do something and it being in our economic best interests aren't one and the same thing. We aren't a direct democracy.

Re: Brexit Development(s) Discussion
 

it's all very well cutting income tax etc. But without positive consumer confidence in the economy money will be saved rather than spent. So the above is a naive interpretation.

The last data i saw (which i think was for the end of September 20190 showed that consumer confidence was at -12 (slightly recovering from the previous month of -14)

nowhere near the lowest score in the last recession however. BUT to add to this most sampled people believe the UK economy will go into recession within the next twelve months

People are jittery about their finances, and, in my opinion justifiably so.

Re: Brexit Development(s) Discussion
 

Old Boy's economic analysis is just failed neo-liberal capitalism allowing profits to be siphoned off public services where competition cannot be created anyway.

Re: Brexit Development(s) Discussion
 

So if BJ doesn’t win his vote tonight, he will have another one tomorrow?

Because Conservatives didn’t get enough of a majority in the 2017 General Election, they want to have another General Election.

But we can’t have another Referendum, because "the people have spoken!".

Strange, the people "spoke" in 2015 and said who they wanted to run the country for the next five years, but that didn’t stop the Conservatives holding another one in 2017 and now one in 2019.

Seems legit...

Re: Brexit Development(s) Discussion
 

Just keep on holding an election until you get the right result, it would appear. ;)

---------- Post added at 18:42 ---------- Previous post was at 18:38 ----------

Unions aren't an issue, it'a whether Vauxhall can export its cars and import its components in a timely and therefore cost-effective manner.

Re: Brexit Development(s) Discussion
 

The EU counties being “propped up” are customers for all of the products they buy from other EU countries.

Given how strongly the English feel I’m surprised they are so keen to “prop up” Scotland and Northern Ireland.