Current Affairs Coronavirus Thread - Serious stuff !!!

[ramacca]

The self employed issue has aroused the hostility of MPs not just Labour, SNP, Greens, Plaid, the DUP but also the Tories. This could be the issue that brakes the camels back of this incoherent, incompetent and uncaring Johnson government. No one has faith in them to come up with something, it's delay tactics. Surely there are some MPs with the bottle to call for Johnson to resign. McDonell's contribution today has been nothing short of shameful political cowardice.

 

[Deleted member 48881]

 

[ramacca]

The top 5% already account for half of all income tax revenues though. The top 1% provide around a third. Raising taxes on capital would be more lucrative in theory, but the bar would have to be set quite a bit higher than currently since otherwise you end up hitting many who aren't particularly well off (as Londoners will tell you when they come to settle inheritance tax bills on properties with massively inflated value). And as for getting all countries to shake out offshore wealth, well good luck with that.

A 1% transaction tax on the City of London would raise enough so none of us would pay tax.

 

[Brennan]

The self employed issue has aroused the hostility of MPs not just Labour, SNP, Greens, Plaid, the DUP but also the Tories. This could be the issue that brakes the camels back of this incoherent, incompetent and uncaring Johnson government. No one has faith in them to come up with something, it's delay tactics. Surely there are some MPs with the bottle to call for Johnson to resign. McDonell's contribution today has been nothing short of shameful political cowardice.

Have you actually thought about the complications of administering such a scheme ?

It’s not as simple as opening the bank vault and chucking some money about.

 

[Brennan]

A 1% transaction tax on the City of London would raise enough so none of us would pay tax.

Erm, no it wouldn’t.

 

[orchard]

Erm, no it wouldn’t. It would raise about £5bn.

Sure???

 

[Itchycoopark]

Anyone got a text off the government, YOU MUST STAY AT HOME. I got it, my mum hasn't yet which doesn't make sense!

 

[tsubaki]

The top 5% already account for half of all income tax revenues though. The top 1% provide around a third. Raising taxes on capital would be more lucrative in theory, but the bar would have to be set quite a bit higher than currently since otherwise you end up hitting many who aren't particularly well off (as Londoners will tell you when they come to settle inheritance tax bills on properties with massively inflated value). And as for getting all countries to shake out offshore wealth, well good luck with that.

Ah, a representative of the "it can't be done, economic sense" brigade. Glad to see coronavirus didn't kill all you lot off.

Just as an aside though - I didn't advocate raising taxes; in fact I said it was politically and financially impossible.

Offshore wealth however is something that has to be the source of any money for this economic recovery; firstly and most importantly that wealth is being protected by all the measures that are being taken so it is not unfair at all to ask them to pay for this service. Secondly, as we saw after 2008-9 lot of it is going to be coming back into the economy so they can buy up the wreckage (or "wealth-create" as you would probably call it). Finally, and this is especially true of the UK, a lot of it is offshore in name only - it relates to assets that are actually here.

 

[tsubaki]

Anyone got a text off the government, YOU MUST STAY AT HOME. I got it, my mum hasn't yet which doesn't make sense!

it is the phone providers who are sending it, so probably depends on their networks

 

[mrb85]

A 1% transaction tax on the City of London would raise enough so none of us would pay tax.

But would also lead to the exit of most financial institutions, hundreds of thousands of job losses -- and ultimately a shortfall in tax revenues. The sort of 'unintended consequences' that many on here are criticising the government for in the current crisis.

 

[LouReedwalkonthewildside]

VOSA have suspended the MOT testing system until further notice. So you couldn’t get a test even if you found somewhere open. So you’re fine overrunning the date.

Cheers mate.

 

[navidson]

Just tried to get a refund for my holiday - Even though I purchased cancellation protection, apparently the insurance company won't pay out in instances of 'enforced government travel restrictions'?!

Are you having a f'ing laugh?!

 

[Disgruntledgoat]

Times change, people dont...

 

[Walken]

Times change, people dont...View attachment 81657

bloodly striplings!

 

[LouReedwalkonthewildside]

Cheers, not got much news but he's shitting blood so that's a sign it's not the vius but summat could be seriously wrong instead. His missus has been on hold for nearly 2 hours to 111

Fingers well and truly crossed for him here mate.