Predictions for 2012
Discussion
The Hypno-Toad said:
Lost_BMW said:
It won't snow. Ever, again, never.
They said so...
It is guaranteed never to snow again because I've bought a set of SnowSocks. They will sit in my boot laughing at me from now until May.They said so...
Quite a few people follow Guido Fawkes' blog, so here are his predictions:
- Margaret Thatcher will outlive the €uro as we now know it. If one of the weaker countries doesn’t break free in 2012 it will just mean the crisis will drag on unresolved until 2013.
- The probable Eurozone recession will be worse than the possible UK recession.
- Inflation will drop sharply as the VAT hike falls out of the calculation but it will be stubbornly higher than many forecast. Savers will still face negative real interest rates. There will be no sign of the deflation predicted by Mervyn King since 2008.
- There will be a collapse of another major European bank, arguably some have essentially collapsed already, it is just being hidden by governments and the ECB propping them up.
- Boris will vanquish Ken Livingstone from frontline politics forever.
- Ed Miliband will remain as leader of the Labour Party.
- A Tory cabinet minister will resign in disgrace.
Eric Mc said:
The Coalition Government finally breaks apart and an election is called before the end iof the year.
Cameron wins with a proper majority.
Ed Milliband ousted as leader of the Labour Party.
Harriet Harmon becomes Labour's first female leader.
Clegg turns Tory to save his seat in the inevitable election.Cameron wins with a proper majority.
Ed Milliband ousted as leader of the Labour Party.
Harriet Harmon becomes Labour's first female leader.
You read it here first.
Oli.
Did anybody predict record income tax receipts so soon?
No recovery, high earners are paying more including NI.
No recovery, high earners are paying more including NI.
article said:
Four years after the credit crisis began, the total paid by taxpayers during 2010/2011 increased by 10pc on 2009/10 to more than £447bn, close on the pre-credit crisis peak for total revenues of £451bn in 2007/2008.
In addition to record receipts from income tax, last January's increase in the standard rate of VAT to 20pc boosted returns from £70bn to £85bn.
Changes to National Insurance Contributions (NICs), including doubling the top rate paid by employees with income above £42,484 a year, lifted returns from NICS to nearly £97bn.
Richard Mannion, a director of accountants Smith & Williamson, said: "Taxes have risen while the economy has remained flat and that scenario is likely to be repeated in the current tax year, 2011/12.
"The main factors are the increase in VAT and increases in income tax payable by the better-off, rather than an economic recovery. Total income tax set a new record in 2010/11 which presumably reflects the new 50pc top rate and the loss of personal allowances for better off taxpayers under Pay As You Earn"
http://www.telegraph.co.uk/finance/personalfinance/consumertips/tax/9013764/Income-tax-payments-hit-record-high-of-153bn.htmlIn addition to record receipts from income tax, last January's increase in the standard rate of VAT to 20pc boosted returns from £70bn to £85bn.
Changes to National Insurance Contributions (NICs), including doubling the top rate paid by employees with income above £42,484 a year, lifted returns from NICS to nearly £97bn.
Richard Mannion, a director of accountants Smith & Williamson, said: "Taxes have risen while the economy has remained flat and that scenario is likely to be repeated in the current tax year, 2011/12.
"The main factors are the increase in VAT and increases in income tax payable by the better-off, rather than an economic recovery. Total income tax set a new record in 2010/11 which presumably reflects the new 50pc top rate and the loss of personal allowances for better off taxpayers under Pay As You Earn"
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