Politics Today

Alistair20000

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It can pay for the 45 billion in borrowings to pay for the tax cut for those earning 150k or more. We can pay for this over our children's lifetimes as well, whilst having less services for the pleasure.

Incidentally, I read that the average premier league football will be 240k a year better off as a result. Which I'm sure we'll be well spent in the UK kick-starting business and the economy
£45 billion is not required to fund the abolition of the 45% tax rate. Unless you are looking at the next 20 years.
 

elginCity

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Believe £45bn is the total cost. Even so, from April highest earners will receive an extra £10k, on average, to help with their cost of living crisis, or to provide growth out of nowhere.
 
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tavyred

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Believe £45bn is the total cost. Even so, from April highest earners will receive an extra £10k, on average, to help with their cost of living crisis, or to provide growth out of nowhere.
The cost of binning the 45% rate is a little over £2bn, so it’s indicative of the terrible optics of the ‘mini-budget’ that its the least fiscally impactful tax cut that’s hit home most with the public.
 

Banksy

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So after a couple of traumatic weeks or so of being PM , what’s the general opinion on Ms Liz? Will she suddenly surprise us and solve all our problems in miraculous fashion or will she enjoy a shorter tenure than Theresa?
Answers on a postcard please summing up her performance to date in not more than ten words.

 

Mr Jinx

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The cost of binning the 45% rate is a little over £2bn, so it’s indicative of the terrible optics of the ‘mini-budget’ that its the least fiscally impactful tax cut that’s hit home most with the public.
That £2bn is hard to quantify. Besides, binning the top rate will attract more top paid jobs to these shores and therefore up the tax take on the higher rate (50 -100k).

The top (or additional) rate is little more than a political weapon. I remember when Brown bought it in in a knee jerk reaction to the financial crisis back in 2008. It heralded the end of New Labour, and, I would suggest, the end of their tenure.
 

Hermann

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So after a couple of traumatic weeks or so of being PM , what’s the general opinion on Ms Liz? Will she suddenly surprise us and solve all our problems in miraculous fashion or will she enjoy a shorter tenure than Theresa?
Answers on a postcard please summing up her performance to date in not more than ten words.

It's not been great. Aside from the budget business, she's just not a convincing PM. This interview sums it up for me really:


No other PM (even waffle mouth Johnson) has struggled with such an obvious question. The same question her own MPs have been repeatedly asking since they announced the return of fracking. Why was she seemingly so suprised to be asked about it?
 
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