Budget 2010

rypt said:
Selling the banking shares will give government the money they spent back ...

If you cull the waste in the public sector, then you can cut taxes by that same amount.
If you cull the waste that is the benefits system, then you can cut taxes by that same amount.
If you kill off the aid and development budget & kill off the money contribution to Europe, then you can cut taxes by that same amount.

And so on..



There is a 3rd choice, don't put duty up at all.
There is a 4th one as well, cut the duty.
Click to expand...

So for a country to be able to develop further - taxes should be reduced?
 
Cameron is on fire though. Like him or not, he's great at this showmanship - let's hope that their policies are promised and delivered with such vigour.
 
Also, isn't it usual for the Shadow Chancellor to give a response to the budget rather than the leader of the opposition?
 
Budget 2010 key points

FUEL, CIGARETTES AND ALCOHOL AND FUEL DUTIES

3p fuel duty rise to be phased in between April and January 2011

Duty on cider to rise by 10% above inflation from Sunday

Wine, beer and spirit duty up 2% a year until 2013

Tobacco duty up 1% this year and 2% a year in future years

HOUSING

Stamp duty scrapped for homes below £250,000 for first-time buyers

Stamp duty on residential property sales over £1m to increase to 5%

UK ECONOMY

Economy contracted 6% during the recession

Predicted growth of 1-1.25% in 2010, in line with forecasts

Downgrades growth forecast for 2011 to 3-3.5%

HELP FOR BUSINESS

£2.5bn support for small business to boost skills and innovation

One year business rate cut from October to help 500,000 companies

Investment allowance for small firms doubled to £100,000

Doubling relief on capital gains tax for entrepreneurs

No change to capital gains tax rates

£385m to maintain road network

BANK LENDING

One-off bank bonus tax has raised £2bn, double the amount forecast

Backs tax on bank transactions but on global basis

A million extra people guaranteed basic bank account

RBS and Lloyds Bank Group to provide £94bn in small business loans

New service to adjudicate credit disputes

JOBS AND TRAINING

Amount of time over-65s have to work to receive work credits reduced

Six month work or training guarantee for under 24s extended to 2012

BORROWING

Borrowed £167bn in 2009-10, £11bn lower than previously forecast

Borrowing to fall from £131bn in 2011-12 to £74bn in 2014-15

OTHER TAXES AND ALLOWANCES

No changes to VAT or income tax planned

Inheritance tax threshold frozen for four years

GOVERNMENT SAVINGS

On track to achieve £11bn efficiency savings target

Reform of housing benefit to save £250m

15,000 civil servants to be relocated outside London

ENVIRONMENT

£2bn investment bank to back low-carbon industries
Click to expand...

Source
 
Anyone know if theres a time limit on the Stamp Duty? Is this a temporary threshold increase or permanent? Treasury site cant handle the traffic
 
Jimmeh said:
Devils advocate...

Show me the waste, where is this waste you speak of?
Do we get rid of the dustmen (or is it dust people)?
Do we get rid of the nurses?
Do we get rid of the people who are obviously already doing a good job looking after abused children in the London borough of Haringey (tinted with sarcasm here)?

When we’ve culled all of this waste, what do we do with them? Do we ask them to find other jobs, or do they go into our much maligned benefits system?
Do they move to Belize?

I share your resentment, truly – but things aren’t as black and white (or as blue) as we’d all like it to be.
Click to expand...

Waste? Look at how healthcare systems are run in other countries. I'm not saying you need to cut the number of nurses though.
Waste? Look at DVLA, what real purpose do they serve other than to employ far too many people to administer a database (much of the taxing, etc is done online now anyway).
Waste? Look at the MOD spending on projects that never come to fruition.
Waste? Look at NHS IT system.
Waste? Look at government quangos.

Fegruson said:
So for a country to be able to develop further - taxes should be reduced?
Click to expand...
Lower taxes benefit the economy, and the government still gets a large chunk of the money anyway in the end.
If you have lower taxes, the people have more disposable income - they are able to buy more things, better things and also spread money over more companies.
So instead of being able to spend only £50 with company A, they can now spend £50 with A and a further £50 with B. (government still gets a nice cut via VAT)
This means that B is now doing more business, so is making larger profits and paying more tax ... but wait, since they are doing more business they are likely to need more people - so now they have just reduced unemployment as well.

Lower taxes help the whole economy grow healthily, this is why the best form of government for a healthy economy is a small one - where the government only regulates and carries out the critical functions - keeping taxes as low as possible to allow people to spread money throughout the economy - benefiting more companies.
 
Cameron does have the showmanship but what worries me about Conservatives at present is they say they don't need taxes here and there but how do they plan to get rid of the debt we have built up? There is no mention of this and you couldn't really vote for a party that simply hasn't told the public anything.

For all we know they get in and then they hammer us with all the taxes under the sun to get the debt paid off, same could be said with the Lib Dems but at least they have given one or two idea's where Cameron seems to avoid or bluntly refuse to answer where the cuts will come from. I seriously can't say I could vote for any of them this time around so I will either not vote or waste a vote on a minor party in comparison to the top three we have at present.

To be honest, what Clegg is saying now is spot on, how everyone is avoiding it but yet I couldn't vote for the Lib Dem's to run the country xD
 
You must log in or register to reply here.
Back
Top Bottom