2022 mini-budget discussion

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a1ex2001 said:
They should have been built over the last 40 years instead of sold, mind you if we had built more houses in general mortgage sizes wouldn't be so stupid and we could sustain higher interest rates make no mistake a 6% interest rate in todays housing market will feel more like 10% back in the 80's/90's
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a 6% rate today equates to more like a 25% back in 1980.
 
 
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Kwasi Kwarteng and Liz Truss should both be sacked with immediate effect.

They are causing absolute chaos in the finance industry.
 
After this debacle the Tories SHOULD be out of office forever, but with the British public being less than intelligent with their recent political decisions, I'm still pretty sure that they'll be voted back in regardless. All it will take is some more lies written on the side of a bus or another moron waving a flag, and they'll be back in their droves.
 
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Murphy said:
Well that's a flawed assumption if ever i saw one. Firstly you're assuming the only reason someone lives in the UK is because of how much the government taxes them, secondly you're assuming those now vacated job wouldn't be filled by someone else, possibly lower down the pay scale (you're all about British jobs for British workers are you not?), thirdly if someone wants to leave the country simply because they don't get to keep as much as they used to then fine, i don't particularly want people who are just mooching off the rest of us living here, people who are not invested in our society. Fourthly if increased taxes equals rich people leaving then we should apply the same logic to everyone else should we not? Because if so I'd say someone going from a disposable income of £50k (for example) to £40k has a lot less to worry about than someone going from £1k to nothing or worse has a lot more reason to leave.

You've basically unthinkingly swallowed the "oh the rich will leave if we tax them too much" hook-line-and-sinker as even under a cursory glance it falls apart, it's like trickle down economics. It sounds reasonable but the moment you actually think about it it doesn't make sense.
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You've not heard of remote workers then. Some skills aren't available here in sufficient numbers at times so those technical skills could be bought in from someone working overseas and not paying UK taxes.
 
Well, the Bank of England just had to start printing money again to prop up the bond markets so a swathe of pensions funds didn't go bust this afternoon, all on the back of market panic caused by Liz Truss and Kwasi Kwarteng's fantasy budget.

Clearly what we need right now, is less financial regulation, and more tax cuts!
 
Greebo said:
Only if the NMW is increased to a living wage eg around £15-£16 per hour then I will go with that.
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Now you're just being silly. You can't seriously suggest we should be paying people circa £31K a year to wait on tables, deliver someone's post, empty some bins, stack shelves, sell you a train ticket etc etc. I thought you lot said you didn't want inflation lol.
 
thenewoc said:
Now you're just being silly. You can't seriously suggest we should be paying people circa £31K a year to wait on tables, deliver someone's post, empty some bins, stack shelves, sell you a train ticket etc etc. I thought you lot said you didn't want inflation lol.
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Why not?

If businesses won't raise wages someone has to.
 
thenewoc said:
Now you're just being silly. You can't seriously suggest we should be paying people circa £31K a year to wait on tables, deliver someone's post, empty some bins, stack shelves, sell you a train ticket etc etc. I thought you lot said you didn't want inflation lol.
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You should in a modern wealthy society like the UK expect to earn a living wage for a full time job IMO. At the moment people do because peoples wages are topped up by the Govt (taxpayers) so they are on a living wage.

And I dont mean change it overnight, but over the course of several years and ahead of inflation.

But we have such a massive gap or earning inequality in this country which has been getting bigger and now with the current govt even bigger still that it would be a struggle.

We should be more like France. The average wage of the bottom 50% earners is 25% higher than here and the average income of the top 1% is 20% lower so their gap is only 20 times. We are at 33 times and rising.

We could tax our higher earners more and give more top up benefits to the low paid or move towards a system where the employer pays a decent wage and we dont have to top it up to a living wage. Then the govt would have more money to spend on the NHS and other services or could even drop tax rates.
 
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