The economic consequences of Brexit

[davepoth]

Jockman said:

Do we need Passporting?

We need something similar - at least a guarantee that MFID II will be in place by the Brexit date.

[Trabi601]

Jockman said:

Trabi601 said:

....reducing duty and cutting corporation tax has to be funded from elsewhere.

Not necessarily true. A lower tax RATE can lead to an increased tax INTAKE.

Only if you reduce it to such an extent that it costs more to avoid than you'd be paying.

People will always try to minimise the tax they pay - even if we slashed income tax overnight, people would still be looking at ways to avoid paying it - moaning that it was still too much and that the rich didn't pay it anyway!

[CaptainSlow]

Jockman said:

CaptainSlow said:

Jockman said:

loafer123 said:

In the highly unlikely case that is not the case, the government could happily subsidise the tariffs on exports with the receipts (by far greater) that it would receive from German car manufacturers importing into the U.K.

This is the first example of why there will be a substantive deal on tariffs with the EU because it is to their massive advantage, given our trade deficit with them.

Is that not an argument for NOT doing a trade deal?

It's a negotiating card when we want FS passporting.

Do we need Passporting?

Depends on who you ask.

[don'tbesilly]

Jockman said:

CaptainSlow said:

Jockman said:

loafer123 said:

In the highly unlikely case that is not the case, the government could happily subsidise the tariffs on exports with the receipts (by far greater) that it would receive from German car manufacturers importing into the U.K.

This is the first example of why there will be a substantive deal on tariffs with the EU because it is to their massive advantage, given our trade deficit with them.

Is that not an argument for NOT doing a trade deal?

It's a negotiating card when we want FS passporting.

Do we need Passporting?

Oh Geez!

[don4l]

CaptainSlow said:

B'stard Child said:

jsf said:

Currently, any tariffs UK government take from none EU imports get sent 25% to the UK exchequer, 75% to the EU.

^ Why do more people not get this.......

That's all tariffs from all goods from out side the EU

Is this part of the £350m a week?

Hang on a minute... :checks red bus:.

I only voted Leave because I thought they were going to spend an extra £350M a day on the NHS.

This is a bloody disgrace. The Leave campaign have clearly misled millions of people into voting Leave.

There must be thousands, or even millions, of people who assumed that the £350M was the daily figure.

I demand that the referendum is re-run.

I cannot express just how upset I am feeling. This is truely disastrous.

Once MPs realise that we all thought that the £350M figure was a daily figure, I am sure that they will do the sensible thing and defend Britain's interests.

What we need to do, is get rid of Theresa May, and bring back David Cameron. On reflection, I was wrong when I said that he was a leftie deciever. He was a man of high principle, and I now fully accept that he knows better than the ill informed electorate. We also need to bring back George Osborne. Hammond clearly hasn't got the balls to implement the £32Bn budget that is urgently needed.

Anyway, I have fitted a plastic undersheet to my bed. Please pray for me tonight.

I have to go now, because I can no longer see the screen through the tears.

[B'stard Child]

don4l said:

Hang on a minute... :checks red bus:.

I only voted Leave because I thought they were going to spend an extra £350M a day on the NHS.

This is a bloody disgrace. The Leave campaign have clearly misled millions of people into voting Leave.

There must be thousands, or even millions, of people who assumed that the £350M was the daily figure.

I demand that the referendum is re-run.

I cannot express just how upset I am feeling. This is truely disastrous.

Once MPs realise that we all thought that the £350M figure was a daily figure, I am sure that they will do the sensible thing and defend Britain's interests.

What we need to do, is get rid of Theresa May, and bring back David Cameron. On reflection, I was wrong when I said that he was a leftie deciever. He was a man of high principle, and I now fully accept that he knows better than the ill informed electorate. We also need to bring back George Osborne. Hammond clearly hasn't got the balls to implement the £32Bn budget that is urgently needed.

Anyway, I have fitted a plastic undersheet to my bed. Please pray for me tonight.

I have to go now, because I can no longer see the screen through the tears.

Repost



What have you done with the real Don4l

[sidicks]

Trabi601 said:

So, given the way sterling has tanked, the rise in prices will just be counteracted by reducing import duties. That's if there's any motivation for doing it at all. Tax money has to come from somewhere - reducing duty and cutting corporation tax has to be funded from elsewhere.

What happens to the increased net profits that arise from lower corporation tax?

[Einion Yrth]

[Jockman]

Trabi601 said:

Jockman said:

Trabi601 said:

....reducing duty and cutting corporation tax has to be funded from elsewhere.

Not necessarily true. A lower tax RATE can lead to an increased tax INTAKE.

Only if you reduce it to such an extent that it costs more to avoid than you'd be paying.

People will always try to minimise the tax they pay - even if we slashed income tax overnight, people would still be looking at ways to avoid paying it - moaning that it was still too much and that the rich didn't pay it anyway!

Did I not read something about the proposed 50% income tax rate being reduced to 45% and the intake being higher?

Similarly, if Corp tax were reduced to 10% I would not be rushing round to try and avoid it.

[Jockman]

davepoth said:

Jockman said:

Do we need Passporting?

We need something similar - at least a guarantee that MFID II will be in place by the Brexit date.

That should do nicely, Dave.

[Jockman]

sidicks said:

What happens to the increased net profits that arise from lower corporation tax?

Shhh.....

[loafer123]

Jockman said:

loafer123 said:

In the highly unlikely case that is not the case, the government could happily subsidise the tariffs on exports with the receipts (by far greater) that it would receive from German car manufacturers importing into the U.K.

This is the first example of why there will be a substantive deal on tariffs with the EU because it is to their massive advantage, given our trade deficit with them.

Is that not an argument for NOT doing a trade deal?

Yes, which is why we have negotiating power to get a deal which suits both us and the EU on issues where we are not the net beneficiary.

[Trabi601]

sidicks said:

Trabi601 said:

So, given the way sterling has tanked, the rise in prices will just be counteracted by reducing import duties. That's if there's any motivation for doing it at all. Tax money has to come from somewhere - reducing duty and cutting corporation tax has to be funded from elsewhere.

What happens to the increased net profits that arise from lower corporation tax?

Perhaps you can tell me, as there is no single answer to fit all circumstances.

[RYH64E]

sidicks said:

What happens to the increased net profits that arise from lower corporation tax?

Net profit is entirely unaffected by the rate of corporation tax.

[Jockman]

RYH64E said:

sidicks said:

What happens to the increased net profits that arise from lower corporation tax?

Net profit is entirely unaffected by the rate of corporation tax.

There is a correlation. You need to figure it out.

[///ajd]

Trophy Husband said:

don4l said:

Trophy Husband said:

B'stard Child said:

PurpleMoonlight said:

don4l said:

The fact that Remoaners are not sharing in the benefits is entirely your own fault.

Why do you feel the need to always use a derogatory term when referring to people who would prefer to stay in the EU?

You think that everyone should pull together to make the best of the future yet you insult millions of those people with almost every post.

Secret "Antidote" to the "racist" and "thick" accusations from those that voted for remain

Surely what you are really saying is that you tacitly agree that a large portion of those that voted leave were racist and thick red top readers. You are just taking exception to the fact that you have made a vote with conscious thought no doubt for your own non-racist, non-thick reasons and that's admirable. Nobody likes to be tarred with the same brush as racists and thick people. I'd love to see the vote devoid of racist motivations to leave. I would hazard a guess that we would be remaining. In fact I'm certain we would be. So, your victory as it seems to be, has been swept through the door by racist thick people.

So PurpleMoonlight, what do you think of the above?

Do you really think that I should remain polite when I see such nonsense riddled bile?

Why should you not remain polite in this instance? I have not been impolite to you, this is not personal, you are reacting as if it is. I merely expressed my equally valid opinion. It is just that, an opinion. That doesn't make it nonsense riddled bile apart from in your opinion. What are you classing as bile? Referring to people as racists is not bile. Referring to people as thick is not bile. Referring to people as thick racists is not bile. Nor is it riddled with nonsense, apart from in your opinion. How ironic that your motivation for politeness or not is based upon your opinion of other's opinions. Surely that is hypocrisy? Well, in my opinion it is at least.

Beautifully put.

[Jockman]

Trabi601 said:

sidicks said:

Trabi601 said:

So, given the way sterling has tanked, the rise in prices will just be counteracted by reducing import duties. That's if there's any motivation for doing it at all. Tax money has to come from somewhere - reducing duty and cutting corporation tax has to be funded from elsewhere.

What happens to the increased net profits that arise from lower corporation tax?

Perhaps you can tell me, as there is no single answer to fit all circumstances.

Do you know of a tax free way of extracting these profits?

[s3fella]

http://www.bbc.co.uk/news/business-37786467

It's looking pretty dire....

[B'stard Child]

///ajd said:

Beautifully put.

Ahh Hello ///ajd you are back - I've missed you

[Trabi601]

Jockman said:

Trabi601 said:

sidicks said:

Trabi601 said:

So, given the way sterling has tanked, the rise in prices will just be counteracted by reducing import duties. That's if there's any motivation for doing it at all. Tax money has to come from somewhere - reducing duty and cutting corporation tax has to be funded from elsewhere.

What happens to the increased net profits that arise from lower corporation tax?

Perhaps you can tell me, as there is no single answer to fit all circumstances.

Do you know of a tax free way of extracting these profits?

There are tax minimising ways to extract money.

So all you've achieved is to move the line at which people avoid taxation and change the method of doing so!