And it also forgets that very few startups actually make any money, and certainly not the "high growth" kind that everyone wants to attract. There's a reason so many are crapping their pants now that cheap VC money isn't quite so readily available.
Current Affairs The Conservative Party
- Thread starter Ashtonian
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There's this woman I know who was getting her banisters done and it cost an arm and a finger.
Baines' left foot
Player Valuation: £90m
They’ve saved us everyone!
Hard to see what the strategy is here. Looks like a budget to funnel money to business, themselves and their richest mates, at the expense of huge short term borrowing.
If they lose the next election, there’s nothing left to spend, so the incoming government is hamstrung. If they win the next election, public services will have to be cut (they’ll say) to an unimaginable degree to pay for it.
They must be resigned to losing the red wall, and pinning all hope on the Tory-friendly media getting behind them to thank them for the tax breaks.
If they lose the next election, there’s nothing left to spend, so the incoming government is hamstrung. If they win the next election, public services will have to be cut (they’ll say) to an unimaginable degree to pay for it.
They must be resigned to losing the red wall, and pinning all hope on the Tory-friendly media getting behind them to thank them for the tax breaks.
Yes saved..there will be a lot of Champagne corks being popped down south by the rich, famous and Tory donors.
Meanwhile foodbanks will still be doing a roaring trade in the North...
Just hope ordinary people remember to vote in the next election, so we can level it back up !
orchard
Player Valuation: £60m
Dunno mate, we import a lot of our food.
One thing I would say is that if the 6% overnight rise in corporation tax had gone ahead, then some companies would definitely have looked to cut costs, and that could have hit the labour market. I'm not saying it couldn't have been increased a little, but 19% to 25% overnight for many companies is just bad policy.
Something I don't really get about the tax cuts to encourage investment thing. Certainly in the startup world the market has been awash with cash in recent years, due to both the really low interest rates and the stimulus payments. So they're not in need of extra cash at all, and not only do few of them turn a profit to pay tax themselves but they also don't employ that many people, and certainly not in the left behind communities.
It's a similar picture with big companies, with estimates that the FTSE 100 is sitting on around £160bn in total, so it's not like they need lower taxes on profits in order to invest. Instead they need something useful to invest in. This is a global thing, with Apple alone sitting on $200bn and a bunch of the big tech firms sitting on over $1tn.
www.investors.com
So I really don't think taxation is the problem. If they want to funnel investment though, they could look at things like pension reform. For instance the public sector pension pot is something like £150bn or so, but not only is that fragmented across a bunch of different funds but it generally only gets invested in listed assets. If rules were changed and some of that was allocated to a kind of UK-based Grameen bank for micro-lending to small businesses across the red wall then it could do something meaningful. Heck, even the likes of coding schools and other training schemes that are free but take a % of future income could also be used as an investment in the country's human capital. Quite a few possibilities that wouldn't require the tax system to be touched at all.
It's a similar picture with big companies, with estimates that the FTSE 100 is sitting on around £160bn in total, so it's not like they need lower taxes on profits in order to invest. Instead they need something useful to invest in. This is a global thing, with Apple alone sitting on $200bn and a bunch of the big tech firms sitting on over $1tn.
13 Firms Hoard $1 Trillion In Cash (We're Looking At You Big Tech)
Cash is piling up fast on S&P 500 companies' books — and investors want their share and the wait might soon be over as the pandemic eases.
www.investors.com
So I really don't think taxation is the problem. If they want to funnel investment though, they could look at things like pension reform. For instance the public sector pension pot is something like £150bn or so, but not only is that fragmented across a bunch of different funds but it generally only gets invested in listed assets. If rules were changed and some of that was allocated to a kind of UK-based Grameen bank for micro-lending to small businesses across the red wall then it could do something meaningful. Heck, even the likes of coding schools and other training schemes that are free but take a % of future income could also be used as an investment in the country's human capital. Quite a few possibilities that wouldn't require the tax system to be touched at all.
I reckon they'd find a way tbh
I reckon they'd find a way tbh
The 25% rate was due to kick in for anyone with profits > £250k. That's lots and lots of pretty small businesses.
mightymoyes
Player Valuation: £70m
hope no one was planning on buying anything from the states or going there on holiday anytime soon
orchard
Player Valuation: £60m
Or petrochemicals, energy, or food pretty much world-wide.
Unless of course your off-shore stash is in Dollar.
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