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The reality for lower income people vs people earning £155k and over – politicalbetting.com
The reality for lower income people vs people earning £155k and over – politicalbetting.com
In the lowest income households, more than a quarter of Britons have been *forced* to make spending cuts to staple foods (29%), household essentials (28%) and toiletries (27%)https://t.co/CcZuLYImPt pic.twitter.com/1VRDyQkBIK
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It's still such a poor decision and the Tories will pay for it at the next election.
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The government will hope it leads to growth not a rising deficit too
https://news.sky.com/story/boris-johnson-thanks-vladimir-putin-for-inspirational-leadership-instead-of-zelenskyy-12703631
Trickle down economics is just p*ssing downwards on the less well off, and laughing about it afterwards.
This was modern, pragmatic, compassionate Conservatism and I had do problem with it. In contrast Kwarteng's budget is divisive, attacks the poor, rewards the rich and reduces the income available to government at a time when we are already spending far more than is being taken in tax and are promising to spend an absolute fortune on subsidising heating bills.
The contention is that this will boost growth. I will be delighted if I am wrong about this but I really don't see it. Cuts in tax for the much higher paid tend to improve the savings ratio (not a bad thing in itself) but do not have anything like the multiplier effects that additional income for those living hand to mouth do. We might attract back the odd banker from Dublin or Paris but not enough to make much of a difference. I do not think that CT rates are key to DFI, there is a long list of things that are more important. The investment zones seems a rebranding of the enterprise zones we have tried before with minimal success.
I really want the UK to succeed. I want our people to enjoy a more comfortable life. I want good, well funded, public services and I desperately want a private sector successful enough to fund them. I remain to be persuaded that this budget is the answer or even a step in the right direction. I very much hope that I am wrong.
Bartons Chip Splash is a non-brewed condiment vinegar. It is known and used widely at fish and chip shops throughout the UK instead of malt vinegar.
per interweb
New @JLPartnersPolls
in @TheSun
on Sunday: a majority of all age groups now back the monarchy.
Do you think the monarchy should remain in place or be abolished?
% saying 'remain in place'
18-24: 55%
25-34: 52%
35-44: 53%
45-54: 66%
55-64: 76%
65+: 82%
https://twitter.com/jamesjohnson252/status/1573964984920510465
I also don't understand when the BoE is trying to dampen down spending led growth to control inflation the CoE is trying to generate spending led growth.
Or even birds.
The budget is regressive, inflationary, and even on its own terms of driving growth, inefficient.
The mind boggles to think what conversations are like within the Treasury at present.
Also important for some religions, I think, who might not like to use something where brewing was involved. I can’t imagine the price is important to most chip shops compared with all their other costs.
But I’m also not stupid enough to believe that it ought to be the prime area for tax cutting.
Rest of country = peasants
Solution patented by the French in 1789.
Lots of talk about the casino economics on PB, but not one poster can defend the awful politics of doing this at this time. For all the comparisons with Thatcherism, Lady T would not have allowed this budget during crisis for working families - she Did the opposite, tax increases, windfall taxes and redistribution during crisis for working families. Not just all in it together from sound bite but all in it together through action.
Like Truss, but also Starmer, I’m desperate to see growth in the UK economy.
Trickle down doesn’t work.
Prioritising those over £150k doesn’t make sense.
You're "not thrilled by the 45% rate"; Truss has abolished it. For you it would never have been the right time.
It is certainly a fiscal stimulus of sorts, and additional inflation might return a nominal growth figure that looks “impressive” in isolation.
That, and possible relief on energy costs from a resolution to Ukraine, might look as if the “medicine is working”, even as the underlying fiscal reality is a lot darker.
The Government have decided that recession is the bigger enemy than inflation, which seems sensible, given that inflation is being driven overwhelmingly by an unavoidable contraction in energy supply.
Personally I support every measure with the exception of the top rate of tax, that one I don't have an ideological objection too, but few seem to see it as an efficient way to stimulate the economy.
I am a long term bore on reducing income tax and increasing wealth tax.
I even responded “good” to the first rumours of stamp duty abolition.
I would be delighted to see the 45% scrapped and stamp duty abolished in the context of new wealth taxes and a sane fiscal framework.
Rather ironically, monetarism soon failed Lady T when she was in power.
Ask everyone in todays cabinet about this, and not a single one will tell it like I just told it. But my version of the history is the right one.
In short, its a stupid, badly designed wealth tax but at least it is a capital tax of a sort.
Kwarteng denies, straight to camera, that his tax cuts favour those at the top.
Given such a denial of plain fact - is there actually any point in interviewing him?
https://mobile.twitter.com/mikegalsworthy/status/1573966144964272130
Either way, WTF ?
The schools, like the extra ASDA guards discussed yesterday, are an early warning system if one but looks.
https://www.theguardian.com/business/2022/sep/25/schools-in-england-warn-of-crisis-of-heartbreaking-rise-in-hungry-children
'Children are so hungry that they are eating rubbers or hiding in the playground because they can’t afford lunch, according to reports from headteachers across England.
The headteachers say the government is leaving schools to deal with a mounting crisis – a message amplified by a new survey on food poverty in schools, due to be published next month by Chefs in Schools, a healthy eating charity which trains chefs for school kitchens. It reveals that many schools in England are already seeing a “heartbreaking” increase in hungry children, even before winter and big energy bills force more families to choose between switching on the heating and buying food.';
Bear in mind, it is more expensive to import temporary staff than hire permanent ones. Supply costs roughly £1250 per week.
I just loathe it’s effect on people’s mobility and the distortionary impact on capital allocation.
For example, I have two properties in the UK which I would likely have sold had I not been conscious of the massive tax incurred by re-entering the market.
Unlocking business investment is a much bigger driver of tech job creation than cutting personal taxation.
The 5% additional rate cut doesn't achieve creation of high value tech jobs.
Commentators have pointed out that understandably Starmer vows to reinstate the 45% rate, but that he is to retain the abolition of the NI charge and the reduction to 19%, which ironically is costing 10 times the reduction in the 45 % rate
It would be churlish not to accept Truss/Kwarteng have embarked on a colossal gamble that could hand GE 24 to Starmar but I am relaxed about that now Corbyn has gone
However, he needs to have an answer on this insane pursuit of billions of pounds in wind farm technology when we know it is unreliable (just 15% last friday) and accept we need to access gas for years to come from the North Sea and the ludicrous promise by Miliband that we will be carbon zero for energy by 2030, just over 7 years from now
I’m delighted with the general direction of economic policy I’ve seen so far from the Labour team.
I’ve got a sniff it’ll be good for the Colombian economy too.
https://www.nms.ac.uk/explore-our-collections/stories/scottish-history-and-archaeology/the-maiden/
https://www.tes.com/magazine/news/general/almost-twice-many-schools-struggling-recruit-teachers-2022
LAB 45% (+3)
CON: 33% (-2)
via
@SavantaComRes
, 7k sample
Chgs. w/ 11 Sep
https://twitter.com/BritainElects/status/1574033618091085824
Lab 45 (+3)
Con 33 (-2)
Not sure whether pre or post Special Financial Operation. 7000 asked.
Not much of a bounce for Ms Truss.
I am no longer particularly inclined to give them the benefit of the doubt on that.
TA's are increasingly not establishing any kind of stable relationship with a class or individuals. But merely being shifted daily to where they are needed. Making prep and planning redundant.
The KS 3 Unit for those struggling and KS 4 Unit had to be merged on Friday. (KS4 Unit shut).
Not enough staff.
Given Dr G's fate this puts Don't invent beheading machines up there with Don't march on Moscow.
And his main beef seems to be with Labour for wishing to fund public services.
Labour promise billions for NHS and public services and in the climate they are likely to enter it is a fair question
The merged unit was left without a single qualified teacher. Needed elsewhere. So. Twice as many difficult kids for unqualified TA's on minimum wage to handle.
No wonder they are so hard to find.
Or are you just making stuff up?
As you’ve pointed out in other posts, there are other measures that would be much more effective there.
No, this was conceived as a symbol of intent.
Indeed, there’s evidence that Kwasi-Truss considered this some kind of “gotcha” policy to shock and awe.
Sadly the only shock was in the currency and gilt markets.
You are surely not suggesting they do not intend investing billions into these areas
Take, for example, social care, and the 3% defence commitment.
My point is that you actually don’t have a clue about Labour spending plans, and your querulous nonsense about their having questions to answer just makes you look like a Tory stooge.