The Budget 2024.

The entire socioeconomic model has failed, a radical rethink is required as to how society should function and be funded. And no, I don't have the answer ;)

Here we are, supposed to be the most intelligent lifeform on earth, and after centuries this is what we have?
 
blup said:
Where’s the pension rise for the Speaker who couldn't be bothered to preside over one of the most important events in the HoC.
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I don't think the Speaker usually does the budget. One of the deputies does it. That's the convention anyway, and I know you're a stickler for those.
 
Non Dom budget announcement:

The Conservatives have cynically enacted the Labour policy of removing Non Dom status

It won’t come into force until after the General Election so if Labour win the Conservatives have brought forward a Labour policy so they can steal the money and use it to fund tax cutting bribes.

Labour we’re going to use the money to fund NHS staff training



Conservatives always put party first, country second
 
ajohn said:
The view of debt levels appears to have changed. The rules appear to look for a fall in 5years but it's related to GDP which will we hope will always be higher at that point even if just inflation. Were are we at - numerical levels of debt will continue to increase. Then another metric is thrown in.
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Or something else...

Linky Linky

"As he stood at the despatch box, Jeremy Hunt was clear. Unlimited migration would not solve Britain’s problems, he said, a bold statement by a chancellor who wanted to present a picture of a growing economy, rising living standards and lower taxes in the final Budget before the election.

But official forecasts suggest that whatever the rhetoric, growth will be driven by a big jump in the population – and in net migration – with the total number of adults in the UK to rise from 55 million in 2023 to 57 million by the end of the decade.

This is a million more people than the Office for Budget Responsibility (OBR) predicted in November. Meanwhile, the worklessness crisis gripping the population who already live here is only going to get worse.

Jeremy Hunt claimed that economic growth would only lead to higher wages for every family in every corner of the country “by building a high wage, high skill economy” and “not just higher GDP but higher GDP per head”.

In one sense he was right. The population may be larger, but that huge rise will do very little to solve worklessness.

In a damning opening paragraph in its latest tax and spending forecast, the OBR said: “One of the biggest changes to our economy forecast is an increase in the size and growth of the UK population. But higher and rising levels of inactivity offset its impact on the overall size of the workforce.”

The combination of a larger population and declining workforce is the Chancellor’s biggest problem. Squeezed public spending will also add to pressure on schools and hospitals"



Funnily enough when in the EU, our European friends were amongst the most productive in jobs the work shy indigenous population won't do...

One therefore has to ask why there is a far higher net immigration figure than before brexit....

Brexiteers should be fuming at this, but many still aren't prepared to admit that they have caused the acceleration of decline in the UK!
 
diy_fun_uk said:
I don't have the answer
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LOL I wonder about income tax break points. In the US for instance there are 7 ranging over tax at 10 to 37%. They aren't linear, 10,12,22,24,32,35 and 37%. Seems they also have tax credits and bits and other pieces as well. Some differences in several tax aspects for non nationals. Pass on what they are. The wiki gives an example of what this means
For federal individual (not corporate) income tax, the average rate paid in 2020 on Adjusted Gross Income (income after deductions) was 13.6%.[1] However, the tax is progressive, meaning that the tax rate increases with increased income. Over the last 20 years, this has meant that the bottom 50% of taxpayers have always paid less than 5% of the total individual federal income taxes paid, (gradually declining from 5% in 2001 to 2.3% in 2020) with the top 50% of taxpayers consistently paying 95% or more of the tax collected, and the top 1% paying 33% in 2001, increasing to 42% by 2020.

It has to be arranged to suite the salary range of the population. There are other charges involved as well such as health.

Germany some what different but similar. Say they had a 0 and 40%. People would move along that range as per their income. This appears to be linear. eg 1/2 way along salary range it would be 20%. There are probably other tax aspects as well.

UK. Take some one who earns £20k and another that earns £40k and work out how much each is left with and relate that to meaningful living costs that these day may even need a mobile phone and some aspect that would be seen by some as not needed. The idea is a reasonable life.
 
Notch7 said:
Conservatives have brought forward a Labour policy so they can steal the money and use it to fund tax cutting bribes.
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Labour intend to do a full spending study looking for slack. As they say they can't do that until they are in power. This will set what goes where. Hunt was also cagey about some aspects concerning none doms - to be sorted etc.

Think was BBC, short clip of an MP wanting Trusenomics. There are others who feel the same.

A bloke who surveyed the so called Tory partry members who favoured no tax cuts and more into defence. These people will pick the next PM if and when there is one.
 
JonathanM said:
Long Covid?
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And possibly retirement. When people can do that they will still be paying tax. There has been talk of people like that getting back into work. As an early retirement person a while ago good luck. Part of my reason for retirement was working conditions.
 
JonathanM said:
I don't think the Speaker usually does the budget. One of the deputies does it. That's the convention anyway, and I know you're a stickler for those.
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Unlike the Speaker, who only breaches convention when there is perceived benefit to his party and ensures his own job security. But he's gone quiet before he's gone
 
ellal said:
Funnily enough when in the EU, our European friends were amongst the most productive in jobs the work shy indigenous population won't do...

One therefore has to ask why there is a far higher net immigration figure than before brexit....
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One therefore also has to ask that if all our hardworking European friends have returned home, why are there labour shortages in those EU countries and are you happy to add to those shortages by encouraging them to leave their countries to serve you your burger and chips in the U.K.? That’s not a nice thing to do to a friendly EU country, is it?
 
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