The "How is it going to be paid for" prediction thread.
Discussion
Yeah, sometimes lowering taxes actually raises more tax income (1970's). Who'd have thought it eh?
I reckon lowering income tax back to the Thatcher/Blair years so 40% upper rate, none further.
Lowering corporation tax to 10% (its about 18% at the mo I think)
Applying tax to those companies that seem able to sidestep them like Amazon, etc Not as if Amazon couldn't afford 10% tax is it...
Small businesses, look after them well, they're the backbone. Get a start up scheme going or reinforce what's there.
A huge scheme to encourage foreign investment into the UK (equally to p
s off the EU!)
VAT 15%, get people spending, spending, spending.
I have no idea if any of this would work, of course.
I reckon lowering income tax back to the Thatcher/Blair years so 40% upper rate, none further.
Lowering corporation tax to 10% (its about 18% at the mo I think)
Applying tax to those companies that seem able to sidestep them like Amazon, etc Not as if Amazon couldn't afford 10% tax is it...
Small businesses, look after them well, they're the backbone. Get a start up scheme going or reinforce what's there.
A huge scheme to encourage foreign investment into the UK (equally to p
s off the EU!)VAT 15%, get people spending, spending, spending.
I have no idea if any of this would work, of course.
I've heard several economist explain this over the past few weeks and months. The situation appears to be that it might not be as grim and painful as many imagine. The funds that have been used to prop everything up have largely (though not exclusively) come from an emergency pot set up after the Second World War to deal with all manner of national crisis, including pandemics. The theory is that money has continued to flow 'into' the economy but not 'through' it because nobody is spending so when things do return to normal, spending starts back up again which is why many are predicting a sharp bounce back within 12 months. There's also the fact that every country's in the same boat so is unlikely that we'll see any redirection of foreign investment.
Obviously this is just a theory but sort of makes sense. But if this is the case, then that emergency pot will need to be replenished quickly as it would leave us more exposed should something like this happen again. Hence the worry over a second wave. So, I think we have to make peace with the fact that at some point in the near future, we'll be keeping less of the money we earn.
Obviously this is just a theory but sort of makes sense. But if this is the case, then that emergency pot will need to be replenished quickly as it would leave us more exposed should something like this happen again. Hence the worry over a second wave. So, I think we have to make peace with the fact that at some point in the near future, we'll be keeping less of the money we earn.
bobtail4x4 said:
Johnnytheboy said:
Bizarrely there is no appetite for cutting public spending.
have yo been paying attention the last few years?craigjm said:
bobtail4x4 said:
Johnnytheboy said:
Bizarrely there is no appetite for cutting public spending.
have yo been paying attention the last few years?anonymous said:
[redacted]
I've heard the government fund be referred to informally as the 'Unthinkable Fund' - it's value known to only a few for risk that the demand and temptation may exist to use it for potholes, schools or whatever rather than alien invasion, meteor strikes, wars and pandemics. As you say, it's the replenishment of this fund that will do the hurting... though hurt less than if it didn't exist.
StevieBee said:
I've heard the government fund be referred to informally as the 'Unthinkable Fund' - it's value known to only a few for risk that the demand and temptation may exist to use it for potholes, schools or whatever rather than alien invasion, meteor strikes, wars and pandemics.
As you say, it's the replenishment of this fund that will do the hurting... though hurt less than if it didn't exist.
I don't believe it. Governments putting money aside for a rainy day? The whole economy is built on needing constant growth and getting the next generation to pay for the previous. But they've all been putting money aside into a secret fund, not to be used, not on the books, when they can't put it aside for infrastructure or whatever? Sounds too good to be true to me.As you say, it's the replenishment of this fund that will do the hurting... though hurt less than if it didn't exist.
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