Current Affairs The Conservative Party

[neil999]

I agree, as a few of the lads who I know, who have their own businesses, don`t declare their cash earnings, for this very reason too.

The little rascals!

 

[ToffeeTim]

I can only speak about the people I know, who earn this sort of money mate.

They are acutely aware of the point where they get battered for tax and once they hit the threshold, they all bank the hours, that would`ve tipped them over the threshold and use them as holidays / days off.

Their rational is, that once you hit that tax threshold, it becomes pointless to keep putting the hours in, as you`re effectively working just to pay tax.

That lines always gonna exist somewhere tho isn't it? And this won't apply to everyone

The line is at a different place for different people, but the £150k mark is quite a common one for business owners I know or work with. Why pay 47% tax when you don't really need to earn more and can spend more time with the family.

My feeling for a while has been that trading profits earned under income tax (i.e. unincorporated businesses) should not be subject to the top rate of 45% because these people have businesses to reinvest into (lots of them have some staff as well), but employment income earned by high earning employees should be subject to the top rate.

 

[COYBL25]

The little rascals!

When we did the house up, inc an extension, a full re plaster, a new bathroom, kitchen etc, not one penny went through the books lol

 

[Blue 1]

This.

Has Liz Truss handed power over to the extreme neoliberal thinktanks? | George Monbiot

The prime minister is in hock to rightwing lobbyists who are themselves indebted to oligarchs and corporations, says Guardian columnist George Monbiot

www.theguardian.com

 

[Yarrgh]

I know it's a very minor fact that the names of the male children of Reese-Mogg are :

Sixtus Dominic Boniface Christopher Rees-Mogg.
Peter Theodore Alphege Rees-Mogg.
Thomas Wentworth Somerset Dunstan Rees-Mogg.
Alfred Wulfric Leyson Opus Reese-Mogg.
Anselm Charles Fitzwilliam Reese-Mogg.

But you know that he feels above the general populace, has absolutely certainty that he knows best, will brook no argument, a visceral hatred of any government intervention that might actually help people - a reactionary of the worst kind.

Evidently hates his kids most of all.

 

[Marius57]

Well, what a shock that is......

 

[JammyP]

Old Etonians are all the same. Cynical barstewards.

Apart from George Orwell....

 

[Spadge Vernacular]

A lot of wishful thinking there TT I think. It's hard to see this as anything other than a massive punt and at not great odds either. We'll see in a few months.

They will probably be thinking if it works and they get in again they'll be in a good position for years to come. If it fails and they get booted out, the nations coffers will be empty so any following gov will be fooked.

 

[neil999]

They will probably be thinking if it works and they get in again they'll be in a good position for years to come. If it fails and they get booted out, the nations coffers will be empty so any following gov will be fooked.

I reckon truss and kwarteng think they are geniuses and that this deffo won't fail

 

[paultheblue]

If you work a 40 hour week on minimum wage £10.50 an hour you will be £93 a year better off , £1.78 a week so no need to worry your energy bills

 

[ChesterBlue]

Pretty cool to see these useless bellends making the value of the pound fall off the face of the earth while I’m saving for travelling Japan next year

 

[NorthernBlue]

When we did the house up, inc an extension, a full re plaster, a new bathroom, kitchen etc, not one penny went through the books lol

Had a quote for a garage conversion this year. Price included vat and they slyly added that if I were to pay in cash then the vat would magically disappear

 

[COYBL25]

Had a quote for a garage conversion this year. Price included vat and they slyly added that if I were to pay in cash then the vat would magically disappear

It`s the way of the tradesman mate.

I always ask for a cash price.

 

[Eggs]

…so, after 12 years the party of business and the economy are accepting they have mis-managed the country’s finances and now want a new approach - gamble everything.

 

[Bruce Wayne]

The markets have, but they aren't always right tbf.

The logic and economic theory behind this is they will grow their way out of problems. Normally that's something I agree with but it's a long term plan, not something you do short term with crazy energy prices.

We're in a really bad position. We need to keep the tax takings up to fund services but equally businesses are struggling and could do with tax cuts so they don't start reducing their labour force. I'm glad I'm not in charge!

Something the Tories seem to have overlooked is that we're in almost full employment. That's not a great situation if growth is what you're looking for as it means getting more out of the people already in work rather than getting people back into work. That's considerably harder to do and typically requires investments rather than tax cuts.