What do Labour mean by a "growth strategy"?
Discussion
AJS- said:
DJRC said:
*Destroying the accountancy industry*...ahh my dream! 
It's not a bad dream is it?I've nothing against accountants, but the fact that so many intelligent and educated people are employed in what is basically book keeping is an absurd drag on the economy of almost public sector proportions.
Andy Zarse said:
AJS- said:
DJRC said:
*Destroying the accountancy industry*...ahh my dream!
It's not a bad dream is it?I've nothing against accountants, but the fact that so many intelligent and educated people are employed in what is basically book keeping is an absurd drag on the economy of almost public sector proportions.
Some of the stuff they do is quite good, and actually highlights worthwhile efficiency savings etc. However they must cumulatively spend thousands of years a month on totally pointless activities to navigate our byzantine tax system.
DonkeyApple said:
AJS- said:
That's the idea!
And a prudent one. The only issue with simplifying tax is that as you can see from the budget, tax is used to steer populations in a general direction. Central govt would lose a lot of power and would seek to replace this somehow.
Haven't read all this but, on the off chance nobody else has made the assertion, in Labour land a growth strategy entails borrowing loads more money to build free houses for people who contribute nothing to the economy and set up thousands more £50k a year public sector bureaucratic non jobs to buy back the votes of a client state.
Mon Ami Mate said:
Haven't read all this but, on the off chance nobody else has made the assertion, in Labour land a growth strategy entails borrowing loads more money to build free houses for people who contribute nothing to the economy and set up thousands more £50k a year public sector bureaucratic non jobs to buy back the votes of a client state.
Ahhh... so it is not about growing the economy, but about buying a larger share of the vote....jesusbuiltmycar said:
Ahhh... so it is not about growing the economy, but about buying a larger share of the vote....
Yes, but using the somewhat tenuous excuse that it costs less to give people jobs and have them paying some of it back in tax than it does for them to be unemployed. The reason many of them are unemployed is, of course, that they are unemployable. And hiring them at the cost of the taxpayer incurs a loss to the economy for every job, because it costs more to hire them than they give back. But still, they all join public sector unions and the unions then hand all their subscriptions back to the Labour Party, so it all makes sense in the end...Mon Ami Mate said:
Yes, but using the somewhat tenuous excuse that it costs less to give people jobs and have them paying some of it back in tax than it does for them to be unemployed. ...
Perversely, it does! For while. E.g. borrow £100k at 5% interest.
Create two non jobs at £50k each.
Get back £20k each in tax (I'm making the numbers up to be easy).
After one year there will be an interest bill of £5k but you got £40k in tax. Woo hoo.
So £35k profit, put that in the kitty so to speak.
Year two, borrow another £100k, hopefully at 5% interest again.
...
For the early years there is more coming back in the tax take than the burden of interest.
By some crude calculations after six years it looks like you are in surplus. Yaay.
But now the interest bill is more than the money coming back in from tax.
By year thirteen the process is well and truly in an exponential debt spiral.
Probably time for some Q.E.
Hooray for short term western politics/economics
RichardD said:
Mon Ami Mate said:
Yes, but using the somewhat tenuous excuse that it costs less to give people jobs and have them paying some of it back in tax than it does for them to be unemployed. ...
Perversely, it does! For while. E.g. borrow £100k at 5% interest.
Create two non jobs at £50k each.
Get back £20k each in tax (I'm making the numbers up to be easy).
After one year there will be an interest bill of £5k but you got £40k in tax. Woo hoo.
So £35k profit, put that in the kitty so to speak.
Year two, borrow another £100k, hopefully at 5% interest again.
...
For the early years there is more coming back in the tax take than the burden of interest.
By some crude calculations after six years it looks like you are in surplus. Yaay.
But now the interest bill is more than the money coming back in from tax.
By year thirteen the process is well and truly in an exponential debt spiral.
Probably time for some Q.E.
Hooray for short term western politics/economics
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