The Budget
- Thread starter antijoke
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Soldato
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Gotta be done sadly thanks to Labours interpretation of Liberalism which is give money to slags and lazy people.
Not a Tory but this is not their fault.
Not a Tory but this is not their fault.
Man of Honour
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This.
Tbh, at least someone has the balls to step in and do something about it, despite all the flak they're bound to recieve!
As someone who gets very little from the government but just pays tax, I can't see how this budget can be that bad for me, especially if they raise the threshold for income tax as the reports have suggested.
It is about time we tried to take the deficit in hand, next step is to start reducing the national debt.
You can't 'pay off' a deficit, it's the amount that is being overspent each year. reducing the deficit to zero won't start paying back the massive increase in the national debt that Labour caused, that is a much longer term proposition.
It is about time we tried to take the deficit in hand, next step is to start reducing the national debt.
Only fools try to pay their deficit off in 5 years. The tories are going to cripple the UK
Would you try to pay your mortgage off in 5 years instead of 20?
You can't 'pay off' a deficit, it's the amount that is being overspent each year. reducing the deficit to zero won't start paying back the massive increase in the national debt that Labour caused, that is a much longer term proposition.
According to the BBC calculator just increasing VAT to 20% generates £12bn. Bargain! Many essentials are zero-rated anyway. The rich buy more stuff so pay more, it can be avoided by choosing not to buy stuff etc. It's a great tax to raise.
In fact I'd like to see the basic rate of VAT at least 20%, even 22%. Most of Europe is already 20% or more, only Cyprus, Luxembourg and Spain are lower than the UK. A few more essentials should be zero-rated but things like consumer electronics could have a super-rate of say 30%. People don't need fancy consumer electronics, they are pretty much all imported so damage our trade deficit and use energy.
In fact I'd like to see the basic rate of VAT at least 20%, even 22%. Most of Europe is already 20% or more, only Cyprus, Luxembourg and Spain are lower than the UK. A few more essentials should be zero-rated but things like consumer electronics could have a super-rate of say 30%. People don't need fancy consumer electronics, they are pretty much all imported so damage our trade deficit and use energy.
Only fools try to pay their deficit off in 5 years. The tories are going to cripple the UK
Would you try to pay your mortgage off in 5 years instead of 20?
And you are allowed the vote?
No wonder the country is FUBAR
Man of Honour
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Only fools try to pay their deficit off in 5 years. The tories are going to cripple the UK
Would you try to pay your mortgage off in 5 years instead of 20?
No, but I would tighten my belt and attempt to pay off the extra that I had borrowed on the mortgage, namely the defecit or at least as much of it as I could.
The defecit this country has is terrifying.
Caporegime
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Only fools try to pay their deficit off in 5 years. The tories are going to cripple the UK
Would you try to pay your mortgage off in 5 years instead of 20?
You don't pay a deficit, its NOT a mortgage, its NOT debt, its the RATE AT WHICH YOU INCREASE your debt basically. Completely different thing, if we don't get the deficit down drastically our DEBT will spiral out of control, and become so big the interest on it will become so painful the country will quite literally be unable to function.
So basically the analogy you came up with, the better one would be, if someone told you your mortage, currently at a 5% interest rate and 1trillion pounds, would go up to 30% interest rate in 5 years, unless you stop increasing the mortgage amount by keep adding new ones to buy new houses, then yes, most people would decide its best to stop the extra spending and prevent their mortgage moving to a massively higher interest rate you can't afford, at all.
Labour have already crippled the UK, they've put us on course for a massive depression, massive massive massive depression, Tories have a chance to maybe avoid it, or lessen it massively.
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Caporegime
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Again, said in another thread, it sounds great to get more money out of products, but instead of getting 10% more tax on electronics charged at 30% tax, you'd actually lose money as sales decrease. As sales decrease then shops close, people move onto benefits or public sector jobs and you've got a massive turn around in tax spending vs income. A guy in a private sector job selling stuff on 20k a year in an electronics store is paying 5k a year in tax, when he loses his job and either gets a public sector job or goes on benefits, you lose the 5k a year tax income, and pay that guy 10-20k a year out of tax money, so every job lost will cost tax payers some 15-25k.
INcreasing taxes rarely works because a higher percentage of a much lower number, is less useful.
You want things cheaper, so MORE people buy them, and more shops are needed to sell them, and more ships are needed to import the extra goods, and more dockworkers, and ship captains, and ship hands, and delivery drivers and stock checkers, etc, etc are needed.
Selling more = good, selling less = bad, very very very bad.
Sounds fine. We can also remove all those subsidies on inefficient energy production setups like wind turbines. I mean, the cost benefit ratio of those is appalling, and concentrate on investing in transport that gives the best cost/benefit ratio...
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Its going to be...interesting.And of course,painful!
Yup, we have some very hard times ahead.
Indeed we do.
There is something that i dont understand though.....
How do we know when we are in a stable enough economic position for things to be better again, and by better i mean for example would the VAT be decreased if it was increased.
Does that make sense?