Current Affairs The Labour Party

[dholliday]

A 0.1% transaction tax on the City of London's shares, bonds and derivatives dealings would raise enough to lower the pension age to 60 and lower taxes for all.
This was in 2010 - "The Bank's triennial survey of forex and OTC interest rate derivative markets, conducted with the Bank for International Settlements, found that the average daily forex turnover in the UK has risen 25pc to $1.85bn. Average daily turnover in OTC interest rate derivatives was $1.24bn during April 2010, a 29pc rise on April 2007". Mind boggling amounts. A 0.1% tax seems peanuts really.

that's more like it, that's why i like Corbyn...he won't target people (CEO's or otherwise) he'll target inflated sectors like banking.

 

[Number_25]

This is what losing your girlfriend does to you.

 

[PITA]

A 0.1% transaction tax on the City of London's shares, bonds and derivatives dealings would raise enough to lower the pension age to 60 and lower taxes for all.
This was in 2010 - "The Bank's triennial survey of forex and OTC interest rate derivative markets, conducted with the Bank for International Settlements, found that the average daily forex turnover in the UK has risen 25pc to $1.85bn. Average daily turnover in OTC interest rate derivatives was $1.24bn during April 2010, a 29pc rise on April 2007". Mind boggling amounts. A 0.1% tax seems peanuts really.

With respect to shares is that an additional 0.1% on top of the current 0.5% SDRT that is paid now? Or does it replace it?
Also, who will the tax burden fall on?

 

[Old Blue 2]

Back to the Labour Party.

I've voted Labour all my life.

I've just watched Starmer on the 1 o'clock news, as well as others, speaking at the Conference.

I am dismayed that the apparent way forward appears to be to stymie any kind of deal with the EU. In fact, it appears that those in responsible positions at the top of the Party are now actively and publicly moving to destroy Brexit. It was telling that Dennis Skinner stayed seated when others around him stood to applaud Starmer. I wonder why the Beeb didn't interview him...

It is one thing to be a party of opposition. It is something else altogether to be a party that has a 'dog in the manger' attitude simply for the sake of it.

I am no fan of Norman Smith, the assistant political editor of the Beeb. However, he stated things quite clearly in his summing-up of the present Labour position, particularly that their stance could lose a swathe of votes among those Labour supporters/voters who voted Leave. At the moment, it appears to me that all the Tories need to do is pull up a deckchair, get the cigar out, and watch Labour (once again) tear itself apart. It disappoints me greatly.

The Labour Party head honchos might think that forcing a General Election would give them a good chance of returning to power. If they do think that, I believe they are deluded. What I saw from this morning's Conference leads me to believe they would be slaughtered if another election took place any time soon. But that's just my own view.

The above saddens me, but I think it is hard, cold, reality...

 

[peteblue]

I have.

Using the current tax rates, you end up with the following:

View attachment 49925

With the changes put forward in the Labour manifesto, this changes slightly for high earners - increasing the total tax take from £571,444 to £631,967:

View attachment 49926

If we were to take a look at Sweden's system - and apply it to the same figures we'd have something like:

View attachment 49927

I'm not a huge fan of this as the total tax increase for low earners would tip a lot of people over the edge, so instead we should opt for a system of tax that reflects that.

You'll end up with something like this:

View attachment 49928

Which to me is a far fairer system.

What is a ‘devolution’ tax ?......

 

[tsubaki]

The state wants people to work for a few years longer so they'll die? That's a bit dank.

Such is the nature of an actuaries existence. Plus the effect of shift work is pretty well established now.

 

[peteblue]

Back to the Labour Party.

I've voted Labour all my life.

I've just watched Starmer on the 1 o'clock news, as well as others, speaking at the Conference.

I am dismayed that the apparent way forward appears to be to stymie any kind of deal with the EU. In fact, it appears that those in responsible positions at the top of the Party are now actively and publicly moving to destroy Brexit. It was telling that Dennis Skinner stayed seated when others around him stood to applaud Starmer. I wonder why the Beeb didn't interview him...

It is one thing to be a party of opposition. It is something else altogether to be a party that has a 'dog in the manger' attitude simply for the sake of it.

I am no fan of Norman Smith, the assistant political editor of the Beeb. However, he stated things quite clearly in his summing-up of the present Labour position, particularly that their stance could lose a swathe of votes among those Labour supporters/voters who voted Leave. At the moment, it appears to me that all the Tories need to do is pull up a deckchair, get the cigar out, and watch Labour (once again) tear itself apart. It disappoints me greatly.

The Labour Party head honchos might think that forcing a General Election would give them a good chance of returning to power. If they do think that, I believe they are deluded. What I saw from this morning's Conference leads me to believe they would be slaughtered if another election took place any time soon. But that's just my own view.

The above saddens me, but I think it is hard, cold, reality...

I have absolutely no idea what Labours position is on Brexit. Every time one of them speaks you get a different answer...

 

[peteblue]

The state wants people to work for a few years longer so they'll die? That's a bit dank.

It would be much better encouraging everyone to smoke and pay more tax on cigarettes, with the added bonus of killing them off early......

 

[Joey66]

Emily Thornberry tipped to be the next leader lol
A real working class hero hey ho.....
The white van fiasco they forget things!

 

[roydo]

All the moaning they do it 'must' come out of their own pocket, surely. £450 sounds pretty good to me and I wish the CEO of my company would personally hand it to me.

No. It simply does not. It is a dividend payment to shareholders. And unlike normal shareholders, Macdonald's special ones will have their return capped at £500. Anything above that goes to Macdonalds desk.

 

[peteblue]

No. It simply does not. It is a dividend payment to shareholders. And unlike normal shareholders, Macdonald's special ones will have their return capped at £500. Anything above that goes to Macdonalds desk.

 

[hullefc]

No. It simply does not. It is a dividend payment to shareholders. And unlike normal shareholders, Macdonald's special ones will have their return capped at £500. Anything above that goes to Macdonalds desk.

That is £500 for a worker and the rest to the government's kitty to put into the NHS, education, health care. Sounds good to me.

 

[roydo]

That is £500 for a worker and the rest to the government's kitty to put into the NHS, education, health care. Sounds good to me.

I will spell it out mate. Perhaps you will understand then.

IT. IS. THE. WORKERS. MONEY. HE. IS. TAKING.

 

[zzr45]

That is £500 for a worker and the rest to the government's kitty to put into the NHS, education, health care. Sounds good to me.

You friend walks up to someone and bullies them to give him £50 on the proviso he’s giving it to you, otherwise worse will happen. He gives you a fiver and pockets the rest.

You’re okay with this?

 

[hullefc]

I will spell it out mate. Perhaps you will understand then.

IT. IS. THE. WORKERS. MONEY. HE. IS. TAKING.

'Under Labour's "inclusive ownership fund" proposal, Mr McDonnell said workers would be given a financial stake in their employers and more say over how companies are run.

Firms would have to put 1% of their shares into the fund every year up to a maximum of 10%.

The amount of share capital available to workers would be capped at £500, with the rest - estimated at £2.1bn a year by the end of a five-year Parliamentary term - going into a fund to pay for public services and welfare".

McDonell is proposing that my company put 1% per year into a fund that is not currently there. How can it be my money - 1% of their shares - when I don't have any shares. Neither do my fellow workers. Sounds good to me and the rest is going into the governments kitty to be distributed to the NHS, education, health care etc. Sounds like a win/win to me. Bring it on John.