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Originally Posted by Chrysalis
Well the opposition have recognised and accepted the 55bilion deficit, so what would be the suggestion for them to do whilst making sure that deficit is paid for?
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Whilst I've not followed this recently, my understanding is that a more economically-trusted trusted Party would be given more time to sort the deficit out rather than try and clear it in two years. Potentially tipping the country into a recession with more councils following the likes of Slough and Croydon into bankruptcy. Kent and Hampshire are warning they might follow too.
I understand the non-doms status would be removed by Labour, which should generate additional tax revenue.
Finally, there is of course the elephant in the room which has contributed to the raft of short-term Prime Ministers we've had since Cameron: Brexit of the hardest variety. This has cost us a reduction in GDP which has fed through into less tax. Unlike our peers, we're not back to pre-Covid levels of economic activity.
To provide growth and therefore reduce the tax deficit, Tony Danker of the CBI today called on the government to consider fixed-term visas to address the "vast” labour shortages facing British businesses. “Let’s have economic migration in areas where we aren’t going to get the people and skills at home anytime soon,” He urged the government to raise its game “Still, we argue over the Northern Ireland protocol,” he will say. “Still, we argue over sovereignty. Get round the table; do the deal; unlock the TCA.”