[Politics] No Budget thread?

[Guinness Boy]

Agreed. Hard to see what else they could do. Incredible support for jobs. Totally unprecedented, and this from the Tories. I doubt Labour would have done more.

You 100% don't know what Labour would have done so that's pure speculation.

But I wouldn't expect Starmer to oppose much. He's certainly not going to go against furlough extension or anything that is commonly accepted as economic stimulus. It would be suicide.

Much as with vaccines, Labour not opposing isn't Starmer being weak, it's the government doing well. I thought the Boris backers would be loving that rather than coming out with yet more cheap digs about Labour,

 

[KZNSeagull]

New Treasury campus in Darlington. Hoorah!
Freeports in Teesside and Humber. Hoorah!

 

[Gwylan]

The devil is in the detail, but it sounds like a very upbeat positive budget so far. Starmer is going to struggle to pick much to criticise, so I imagine he will just say it doesn't go far enough.

Corporation tax rises to 25%. The proposal in the Labour manifesto 2019 was the corporation tax to rise to 26%. That was decried as "far left" policy. I somehow don't see the people who called Corbyn far left using the same term to deride Sunak.

 

[Giraffe]

You 100% don't know what Labour would have done so that's pure speculation.

But I wouldn't expect Starmer to oppose much. He's certainly not going to go against furlough extension or anything that is commonly accepted as economic stimulus. It would be suicide.

Much as with vaccines, Labour not opposing isn't Starmer being weak, it's the government doing well. I thought the Boris backers would be loving that rather than coming out with yet more cheap digs about Labour,

I wasn't having a dig at Labour at all. I was simply agreeing with the point made.

 

[Guinness Boy]

New Treasury campus in Darlington. Hoorah!
Freeports in Teesside and Humber. Hoorah!

Does that mean next time I go to Middlesboro away it won't be full of c**ts?

 

[vegster]

wages are often the largest cost for a business, so they seek to minimise them if they can.

Strange that companies in other countries can pay higher wages despite the extra corporation tax burden though? Ah well.

 

[schmunk]

Strange that companies in other countries can pay higher wages despite the extra corporation tax burden though? Ah well.

Which countries are you thinking of?

N.B. employee costs are taken as an expense in the CT calculation, meaning that higher wages paid out to staff will reduce taxable profits and thus the CT bill.

 

[KZNSeagull]

Does that mean next time I go to Middlesboro away it won't be full of c**ts?

Now, now. Probably not but they may be slightly more prosperous c**ts

 

[Dick Swiveller]

Oh dear. Starmer going down the crap stand up route. I genuinely had hopes of him leading a strong opposition to give us a choice but he appears to have chosen to go down the universal Westminster route of being "led by donkeys". Stop listening to the spin doctors.

 

[beorhthelm]

Strange that companies in other countries can pay higher wages despite the extra corporation tax burden though? Ah well.

the tax burden is only an issue when profitable. it does mean an impact to return on investment which can have a measured impact on wages. more generally wages are determined by market. if they pay less than market they probably wont be as productive, if more than market they have higher cost base they might not cover in sales. its a balance. you could try moving to one these countries with higher wages (higher taxes perhaps) or gain skills to progress into a higher paying role.

 

[Poojah]

I think it's a sensitive and sensible budget all things considered. Granted, it isn't doing much to repay the debt in the short-term however right now the focus has to be on rebuilding the economy, particularly while the cost of borrowing is unprecedentedly low.

It's also worth remembering that debt is relative to GDP. Aggressive taxation in the short-term would only stifle GDP, and it's refreshing to see that acknowledged. There's no point in denying that there won't be a squeeze for many of us in the years to come, but that's going to be less painful and more effective in the context of a fully up and running, altogether healthy economy.

 

[Thunder Bolt]

New Treasury campus in Darlington. Hoorah!
Freeports in Teesside and Humber. Hoorah!

[tweet]1367103603689873412[/tweet]

 

[beorhthelm]

overall sounds like another do very little and hope the country fixes itself approach. seems Starmer's line is to note things that are not in it. must have said "it should" a dozen times.

 

[WATFORD zero]

Corporation tax rises to 25%. The proposal in the Labour manifesto 2019 was the corporation tax to rise to 26%. That was decried as "far left" policy. I somehow don't see the people who called Corbyn far left using the same term to deride Sunak.

Yeah, but you can prove anything with facts

 

[Kinky Gerbil]

Hope Rishi is enjoying himself as it will probably be the last time. Any fool can give away money and look good. All downhill from here, son. Might want to take the Boris route and get out quick to let some other joker take the brunt of the abuse when we have to claw the money back.

This won’t be the last Furlough extension, it will be in place till 2022 in some form

 

[Mellor 3 Ward 4]

Freezing of personal allowance I guess. Going to disproportionately affect public service workers (most of which lower paid) who are also having to deal with no pay rise.

The old chestnut about the Public Sector being lower paid is a myth. It may have been the case 20 years ago, but it's not the case any more. Not many shop workers, security guards, delivery drivers, or farm workers in the public sector.

Much better pensions in the Public Sector too.

As a matter of interest, how many Public Sector workers have been either been furloughed or lost their jobs in the past year?

 

[KZNSeagull]

[tweet]1367103603689873412[/tweet]

Does this mean he supports job creation in one of the most impoverished parts of the UK or not?

 

[Mellor 3 Ward 4]

Corporation tax rises to 25%. The proposal in the Labour manifesto 2019 was the corporation tax to rise to 26%. That was decried as "far left" policy. I somehow don't see the people who called Corbyn far left using the same term to deride Sunak.

Two points:

1) It's a sliding scale - only Cos. making profits of over 250k will pay 25% - so basically bigger businesses will pay.

2) The public finances have changed somewhat since the 2019 election.

 

[Mellor 3 Ward 4]

This won’t be the last Furlough extension, it will be in place till 2022 in some form

I disagree.

By 2022 Govt. support will have gone - sink or swim.

 

[A1X]

Weird how Rishi never mentioned the "B" word once. You'd think he'd be extolling the virtues of their supposedly amazing deal?