More cuts from failing Osborne

[ianch99]

Originally Posted by tweedle

Where is this nation that abandons its disabled? It must be an awful place. Thank god in the UK the disabled will have homes to live in, warm food, free health care,


This nation you speak of sounds terrible.

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You have a freakish obsession with George Osbourne.

Nice try but this thread is about him ..

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Originally Posted by Osem

Vote for Corbyn - he'll sort out austerity.

Now look what you have done ...

[Ignitionnet]

It is getting a bit depressing politicians rewarding their supporters at the expense of others. It was done by the coalition, it was done by the previous Labour administration, it's being done to maybe an even greater extent by the current government.

There are a bunch of things that should be fixed with regards to income tax, alongside a bunch of things that should be fixed with regards to wealth taxes, however the current administration's client group pretty much precludes shifting the burden from earned to unearned income.

The Chancellor is an excellent politician however the politics are far too evident in his handling of the economy and here comes the fallout. He's constantly taking his own flexibility away to score political points with things like the triple lock on pensions, the commitment to running a surplus in 'normal' times, etc. The down side being whenever things don't go his way, which is pretty often as he seems to have little clue what he's doing, it's panic stations.

[richard s]

Just waiting for the poo to hit the fan. £4 billion more cuts by 2020! We are living beyond are means (apparently).

[Mr K]

Originally Posted by richard s

Just waiting for the poo to hit the fan. £4 billion more cuts by 2020! We are living beyond are means (apparently).

Well some are living beyond their means. Georges policies mean the gap between rich and poor is widening all the time. He'll inflict the cuts on the poor anyway, any surplus he'll give to the rich.

http://www.independent.co.uk/news/uk...-10097038.html

[tweedle]

Originally Posted by Mr K

Well some are living beyond their means. Georges policies mean the gap between rich and poor is widening all the time. He'll inflict the cuts on the poor anyway, any surplus he'll give to the rich.

http://www.independent.co.uk/news/uk...-10097038.html

Well you should be hoping that at some point this country gets a credible opposition party. Not one that has a leader that had already set his policies and beliefs long before getting to the top of his party. An who once objected to both sides of an argument lol.

An now seems to stubborn or stupid to change. Until your beloved Labour get a credible leader I'm afraid you're going to have to sit back an watch the Torys do as they please.

An worse still the Corbyn faithful genuinely believe he can when elections so won't replace him. No one benefits from a weak clueless opposition party.

[heero_yuy]

Originally Posted by Mr K

any surplus he'll give to the rich.

In 2013-14, the best-paid 1 per cent of workers will contribute 29.8 per cent of all income tax, the figures show.

To qualify for that top 1 per cent, an individual would have to have an income of £160,000 a year. People who earn more than £1 million a year will contribute 11.8 per cent of all tax.

Total income tax revenue for HMRC is about £150 billion a year.

The share of total income tax paid by the best-paid has risen in recent years.

In 1997, it was 20 per cent; in 2007, before the financial crisis began, the figure was 24.4 per cent.

According to HMRC, there are about 29 million individual income taxpayers in 2010-11.

Of those, about 28 million pay the basic rate, while 4.3 million are higher rate taxpayers. Roughly 290,000 pay the top rate of tax, now 45 per cent.

Linky

Funny sort of giving to the rich seeing as their contribution to income tax has relentlessly risen over the last two decades.

[Mr K]

Originally Posted by tweedle

Until your beloved Labour get a credible leader I'm afraid you're going to have to sit back an watch the Torys do as they please..

You make too many assumptions twaddle, I've never voted Labour (although, that's mainly due to the constituency I'm in, and our farcical voting system). A system that also means George could be PM without any say so from the public.

Yes I'm afraid the Tories have carte blanche for the next 4 years and the public only have themselves to blame.

[tweedle]

Originally Posted by Mr K

You make too many assumptions twaddle, I've never voted Labour (although, that's mainly due to the constituency I'm in, and our farcical voting system). A system that also means George could be PM without any say so from the public.

Yes I'm afraid the Tories have carte blanche for the next 4 years and the public only have themselves to blame.

I suspect it will at least another 2 elections before Labour can get any kind of credibility back. An nasty name calling and mean spirited replies are not needed.

[Ignitionnet]

Originally Posted by heero_yuy

Linky

Funny sort of giving to the rich seeing as their contribution to income tax has relentlessly risen over the last two decades.

I'm sure you know it's a tad more complicated than that.

Include things like indirect taxation into the equation, something that governments have been abusing more and more as the years have gone on, and compensate for any increases in income and wealth equality, then see how we are.

It's actually an abysmal failure of the system if the top 1% are contributing so much of the taxation. Shows there's far too much income concentrated at the top. The tax base should be broader.

[Chrysalis]

yep these figures that show how much tax is paid by the richest, only really highlights how imbalanced income levels are.

Personally I dont have an issue with people getting as much salary as they can get from their job, my issue is really when the rich start complaining they not well off and need tax cuts, thats what I dont like. Then of course these tax cuts have to be funded, the target is usually the silent part of the population.

I used to claim DLA, but I havent bothered with PIP, even tho the amount of distance I can walk without a problem is very crippling, I am pretty sure the current redefined criteria I would be found not immobile enough to be considered in need of mobility payments (yes I spend a ton of cash on taxis). e.g. if someone can walk say 30 metres, they are apparently not severely affected, yet someone who is deemed able to walk lets say 20 meters is. In reality the difference between 20 and 30m is a few steps and both people are as disabled as each other, but there is this line that treats them very differently, as time has moved forward the line moves closer and closer to 0m. Its all really cost cutting and nothing more, instead of having a target for the affect on the individual it is a financial target, and the line is adjusted as required to hit that target.

[richard s]

Now Osborne (Mr Bean) has or will allocate millions for infrastructure projects... were the hell has or will this money come from!

[Mr K]

Originally Posted by richard s

Now Osborne (Mr Bean) has or will allocate millions for infrastructure projects... were the hell has or will this money come from!

George has ways and means e.g. Borrowing, the nhs budget, the disabled etc.

It certainly won't be coming out of his pay or his tax - in fact he'll be giving himself a tax cut, which is nice...

[heero_yuy]

Originally Posted by richard s

Now Osborne (Mr Bean) has or will allocate millions for infrastructure projects... were the hell has or will this money come from!

According to R4 this morning El Gov will borrow some at very low interest rates in order to lever money from pension funds. At the moment these funds are finding good returns on their normal investments hard to find and are increasingly turning to infrastructure projects where returns are better than the stock markets or bonds.

Let's hope this isn't another PFI scheme that will cost us dear in the next decade or two.

This borrowing does not add to the structural deficit that has to be reduced by cuts or more taxes.

[nomadking]

Originally Posted by heero_yuy

According to R4 this morning El Gov will borrow some at very low interest rates in order to lever money from pension funds. At the moment these funds are finding good returns on their normal investments hard to find and are increasingly turning to infrastructure projects where returns are better than the stock markets or bonds.

Let's hope this isn't another PFI scheme that will cost us dear in the next decade or two.

This borrowing does not add to the structural deficit that has to be reduced by cuts or more taxes.

PFI is where the companies that do the construction etc do the borrowing and pass on the "costs". This is direct borrowing by government.

[heero_yuy]

Originally Posted by nomadking

PFI is where the companies that do the construction etc do the borrowing and pass on the "costs". This is direct borrowing by government.

My bad. I was wondering where the "catch" was in this method of financing and used PFI as an example. Should have made that clear.