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turbobloke

63,237 posts

148 months

[news] 
Friday 25th May 2012 quote quote all
Why zero...just cut for all and aim for better than 4th place in the G20 corptax league tables by 2014 smile

Max out business and entrepreneur relocations here.

Help profitable start-ups and existing employers.

ukwill

7,524 posts

95 months

[news] 
Friday 25th May 2012 quote quote all
Derek Chevalier said:
You mention austerity - have you actually checked Government spending or just taking Ball's word for it?
I effectively queried this in a previous post. Without reply.

DonkeyApple

17,579 posts

57 months

[news] 
Friday 25th May 2012 quote quote all
turbobloke said:
Why zero...just cut for all and aim for better than 4th place in the G20 corptax league tables by 2014 smile

Max out business and entrepreneur relocations here.

Help profitable start-ups and existing employers.
I'm just saying that if someone needs a lower CT to encourage them to start up a business then as the CT from 99.9% of start ups is zero in the first year it doesn't matter whether you set it at 100% or zero. But from a marketing perspective to suck in as many punters as possible you'd set it to zero wink

CT at 20% isn't really stopping business. But it has enough fat in it to offer bespoke discounts to target key companies to deliver desired actions, ie primarily to employ more and expand.

Why give a discount to a firm which can't expand or doesn't want to. Let them be.

Would you give all of your customers a 25% automatically? What purpose would this serve other than to drop your revenues without any specific benefit. You'd want to target your discounts to achieve the growth that you want from the areas you know it is.

Andy Zarse

9,338 posts

135 months

[news] 
Friday 25th May 2012 quote quote all
turbobloke said:
The irony here is that a growth strategy will in effect set the next bubble inflating. We await the sight of Gordon Clown or anybody else defying the economic cycle.
Here comes our junior superhero to save the world! *...







copyright G Brown MP

RichardD

3,449 posts

133 months

[news] 
Friday 25th May 2012 quote quote all
Scarily he may get his inspiration from this man ?



Telegraph said:
Britain can’t afford to fall for the charms of the false economics Messiah Paul Krugman
Superstar economist Paul Krugman wants us to change course, but his solutions are simplistic.
http://www.telegraph.co.uk/finance/economics/86478...


Advertisement

turbobloke

63,237 posts

148 months

[news] 
Friday 25th May 2012 quote quote all
Superstar Economist is duly added to the list of non sequiturs.

Andy Zarse

9,338 posts

135 months

[news] 
Friday 25th May 2012 quote quote all
RichardD said:
Scarily he may get his inspiration from this man ?

Telegraph said:
Britain can’t afford to fall for the charms of the false economics Messiah Paul Krugman
Superstar economist Paul Krugman wants us to change course, but his solutions are simplistic.
Two peas out the same pod. Notice how the neo-Keynesians like Balls, Krugman and most of the BoE MPC are always looking for ways to understate inflation. They love inflation because they think it can be used to fool wage earners into taking real terms pay cuts in order to sustain employment and they despise savers, just like Keynes did. They wouldn't recognise sound money if they were hit in the face with a gold bar.

If the MPC had any interest in targeting inflation then interest rates would be higher and there would have been much less QE. Instead they talk about output gaps and weak growth and how they need to implement "stimulus". They honestly think QE drives down long term borrowing costs for industry. They are engaging in good old fashioned "demand management" and negative real interest rates - a strategy that gave us that wonderful golden era of the 1970s, falling productivity, stagflation and terylene shirts. If Balls ever gets back into power I suggest you dig out your old kipper ties...

plasticpig

9,324 posts

113 months

[news] 
Friday 25th May 2012 quote quote all
cardigankid said:
Before we all go on a witch hunt, can I point out that Retail is not intrinsically bad. It drives technology among other things. Would you prefer to have techniology driven by something less tacky? A war for example? Then we can all benefit from the latest and wizziest developments in poison gas.
Nothing wrong with a good war. As long as it's between countries where at least one of them buys plenty of its weapons from the UK (both would be preferable obviously).


Tonberry

1,587 posts

80 months

[news] 
Friday 25th May 2012 quote quote all
Not sure if it has already been said - but there will be no growth. Not for the forseeable anyway.

Regardless of which government is in power.

The only reason our state is seen as a major world power is through an economy built upon borrowed money.

Money that doesn't exist and never has.

Now we've all turned our backs upon the very people who have given us all the lifestyle we now have, it is only going to go one way and that is downhill.

Without our financial industry we would probably all be picking potatoes out in the fields.

turbobloke

63,237 posts

148 months

[news] 
Friday 25th May 2012 quote quote all
Tonberry said:
Not sure if it has already been said - but there will be no growth. Not for the forseeable anyway.
There may well not be, but there could be - and while it's likely that more eurotrash will pollute our economy at some point, there's plenty that could be done before and after. Growth is foreseeable though not so clearly through the eyes of CMD and the LibDims.

thinfourth2

30,834 posts

92 months

[news] 
Friday 25th May 2012 quote quote all
Tonberry said:
Without our financial industry we would probably all be picking potatoes out in the fields.
Total and utter 100% rubbish

Stop the banker worship

crankedup

11,139 posts

131 months

[news] 
Friday 25th May 2012 quote quote all
thinfourth2 said:
Tonberry said:
Without our financial industry we would probably all be picking potatoes out in the fields.
Total and utter 100% rubbish

Stop the banker worship
I read that earlier regarding the banking industry, couldn't reply for a variety of reasons, but you summed it up for me.

turbobloke

63,237 posts

148 months

[news] 
Friday 25th May 2012 quote quote all
Is there not some point to be made though? None at all?

Andrew Haldane said:
According to the National Accounts, the nominal gross value-added (GVA) of the financial sector in the UK grew at the fastest pace on record in 2008 Q4. As a share of whole economy output, the direct contribution of the UK financial sector rose to 9% in the last quarter of 2008. Financial corporations’ gross operating surplus (GVA less compensation for employees and other taxes on production) increased by £5.0bn to £20bn, also the largest quarterly increase on record. At a time when people believed banks were contributing the least to the economy since the 1930s, National Accounts indicated the financial sector was contributing the most since the mid-1980s.

odyssey2200

18,650 posts

97 months

[news] 
Friday 25th May 2012 quote quote all
thinfourth2 said:
Tonberry said:
Without our financial industry we would probably all be picking potatoes out in the fields.
Total and utter 100% rubbish

Stop the banker worship
While they were not angel I do believe that the Bankers have become a convenient scapegoat for poiticians to point the finger at in the hope that no one spots they they are equally to blame.

DonkeyApple

17,579 posts

57 months

[news] 
Friday 25th May 2012 quote quote all
thinfourth2 said:
Total and utter 100% rubbish
Indeed. Potatos won't grow in all parts of Britain. wink

But in fairness, the UK needs to suck the balls of the financial services sector while it builds up all the other sectors and rebalances our farcical economy. Once they do that they can go and drill every banker a new orrofice.

markcoznottz

2,686 posts

112 months

[news] 
Friday 25th May 2012 quote quote all
thinfourth2 said:
Tonberry said:
Without our financial industry we would probably all be picking potatoes out in the fields.
Total and utter 100% rubbish

Stop the banker worship
We shouldn't keep hating on something we are a world leader in. The whole world has embraced capitalism, we should keep a slice of the pie. There will be another boom but maybe not for 15-20 yrs, we owe it to our kids not to throw it away for some socialist dogma, the world doesn't owe us a living and despite what people think high house prices in this country weren't set down in the ten commandments for ever.

JagLover

18,529 posts

123 months

[news] 
Friday 25th May 2012 quote quote all
el stovey said:
To me the governments slavish concentration on austerity
Despite all the talk of austerity the government is still running a deficit of around 8% of GDP and in fact spending rose by 1.6% in Qtr ending March 2012.

It is a nonsense to say that the government cannot place any blame on previous governments, this is not a problem of inadequate short term stimulus but of deep seated problems in UK competitiveness combined with problems in our core export markets.

There will be no short term fixes and I fully expect that if Labour are returned to power in 2015 that the deficit by then will still be high by historical standards (though lower than now) and debt to GDP ratio will be approaching the 100% mark (before you add in off balance sheet liabilities such as pensions)

Until there is a change in attitude, and people realise that the UK has no god given right to remain among the major developed economies, that to stay near the top requires fundamental reform of all areas holding back growth, regulation, planning, education, infrastructure, the list goes on.

An extra few billion of spending in some 'plan for growth' or not is an irrelevance really.

turbobloke

63,237 posts

148 months

[news] 
Friday 25th May 2012 quote quote all
JagLover said:
el stovey said:
To me the governments slavish concentration on austerity
Despite all the talk of austerity the government is still running a deficit of around 8% of GDP and in fact spending rose by 1.6% in Qtr ending March 2012.
Odd isn't it, all the talk of austerity but spending keeps on rising.

Loss of unaffordable Labour largesse is seen as the problem when in fact the largesse was the problem and its loss is part of the solution.

CambsBill

330 posts

66 months

[news] 
Friday 25th May 2012 quote quote all
Really, Balls hasn't a clue what to do other than to borrow more and pcensoreds it away on grandiose 'investments' like before.

This sudden belief in Keynsian economics also winds me up and I don't know why the other parties aren't shooting him down in flames about it. Sure, Keynes postulated that in a downturn you should borrow to invest, but the counterside of that argument is surely that in the good times (ie the Chinese-led boom of the early 2000's) you repay debt and not, as Balls, Brown & Darling did, borrow to the max on every credit card they had. Pure opportunism by Balls & Millibland.


turbobloke

63,237 posts

148 months

[news] 
Tuesday 29th May 2012 quote quote all
DonkeyApple said:
turbobloke said:
DonkeyApple said:
Re the start up point, once a firm reaches the point of having a corp tax liability it is no longer a start up but an established business.
By no means all start-ups have this lag you refer to. Not being a corporate stats guru I can only refer to my ltd co start-up which made a profit from year one and as such if there had been less corptax, expansion would have been a bit quicker each year in the early years with sentiment and incentive playing a key role. If a start-up doesn't pay corptax that's largely irrelevant as the more immediate impact is on profitable concerns that do, self-targeting in a way. However the simplest approach remains best in my view, reduce it for all and get rid of Labour's red tape.
But you want to use the reduction to incentivise growth and increase employment, so making it a blanket reduction wouldn't be beneficial.
There's wider support for my way of thinking that it would indeed be beneficial and for the reasons stated earlier.

http://www.adamsmith.org/blog/tax-spending/today-i...

"Britain’s tax burden is still too high and tax cuts are desperately needed to boost economic growth. This year’s corporation tax receipts are a good example of how tax cuts can pay for themselves. There were large increases in tax revenue from onshore corporation tax, coinciding with the government’s cuts to the headline rate of corporation tax. Reductions in the corporation tax rate have brought the government higher revenues as more companies choose to invest in the UK. By stimulating growth and investment, tax cuts really can pay for themselves."

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