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Post by Red Rackham on Feb 10, 2024 17:33:36 GMT
Starmer has talked about hitting Amazon with higher tax/business rates a few times since 2019, yet Labour have now scrapped plans for a new tax on online companies such as Amazon. Just another Starmer U turn.
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Post by witchfinder on Feb 10, 2024 17:55:20 GMT
PFI is not counted towards National Debt, it is what is termed as "off the books debt" because PFI contracts are not paid by the government, instead they are paid as part of the individual budgets of the particular Hospital Trust, Education Authority, Police Force, Fire Authority etc.
The very best way to reduce debt as a percentage of GDP is to aim for growth, plan for growth, and to actually have a plan for growth.
Growth automatically reduces the debt to GDP ratio without doing anything else, without cuts to budgets, without cutting public spending, and any economist will tell you the same.
Gordon Brown and Alistair Darling understood this, and I think that Keir Starmer "gets it" too, going by his relentless promotion for growth.
Now look at some evidence : The recession of 2008-2009, the policies of Gordon Brown brought the recession to an end in third quarter of 2009 BEFORE the coalition government came to power. Growth returned and in the first quarter of 2010 ( still before the coalition came to power ), growth accelerated from 0.4 to 0.6 and then to 0.7.
But then, along came the Conservatives, ably helped by the Lib Dems, dramatic cuts were implemented and growth immediately fell back, and then growth stalled, and twice we went to the very edge of another recession.
Evidence speaks for itself, the coalition governments policies strangled growth
Finally, I am not particularly a Labour supporter, I know that there is not going to be a Lib Dem government, or a Reform government, or a Green government, just as there will not be an Alba government. The next government will be either Conservative or Labour.
The main reason I will vote Labour is because I do not want any more years of Conservative government, therefore my ONLY choice where I live is to vote Labour.
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Post by thomas on Feb 10, 2024 18:01:44 GMT
Starmer has talked about hitting Amazon with higher tax/business rates a few times since 2019, yet Labour have now scrapped plans for a new tax on online companies such as Amazon. Just another Starmer U turn. Labour's windfall tax could see 42,000 oil and gas jobs lost, industry warns Sir Keir Starmer has been criticised over the 'proper windfall tax' which would see an energy profits levy of 78%
Labour plans to extend the windfall tax on UK oil and gas producers could lead to 42,000 jobs and £26bn of economic value being wiped out, the offshore energy industry has warned. The party published plans for a “proper” windfall tax earlier in the week which would see the energy profits levy for North Sea companies rising to 78%.
Labour said the move, which would bring the country in line with Norway, would “end the loopholes in the levy that funnel billions back to the oil and gas giants”. Offshore Energies UK, the trade body for the sector, has asked for an urgent meeting with the Labour leadership following the plans being announced.
OEUK chief executive David Whitehouse said: “Labour either can’t do the maths or haven’t considered the alarming jobs impact that will be felt up and down the country. “With no new investment, 42,000 jobs will go, and we could start to see the effects as early as this year
“These are not faceless numbers but decent, hardworking people working across the UK to provide the energy we will need today and in the future. “The impact of no new investment will be felt across the whole economy – today we estimate the UK will lose £26bn of economic value. It will undermine the very industry which can and must play a critical role in delivering a homegrown energy transition. “Last week I listened carefully to the Shadow Chancellor promise that Labour will work in partnership with UK businesses.
“We’ve always said the path to net zero is through working together between government, business, and people, ensuring no individual, community or sector is left behind – that’s not what we’ve had from Labour. “The least this industry, our people, and our communities deserve is an urgent meeting with Labour leadership.” Sir Keir Starmer has defended his decision to extend the windfall tax on oil and gas companies
news.stv.tv/north/labours-windfall-tax-could-see-42000-oil-and-gas-jobs-lost-industry-warns#:~:text=Sir%20Keir%20Starmer%20has%20been,energy%20profits%20levy%20of%2078%25.
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Post by Red Rackham on Feb 10, 2024 18:04:53 GMT
Not sure why you sent me that Tam?..
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Post by Pacifico on Feb 10, 2024 18:06:54 GMT
PFI is not counted towards National Debt, it is what is termed as "off the books debt" because PFI contracts are not paid by the government, instead they are paid as part of the individual budgets of the particular Hospital Trust, Education Authority, Police Force, Fire Authority etc. The very best way to reduce debt as a percentage of GDP is to aim for growth, plan for growth, and to actually have a plan for growth. Growth automatically reduces the debt to GDP ratio without doing anything else, without cuts to budgets, without cutting public spending, and any economist will tell you the same. Gordon Brown and Alistair Darling understood this, and I think that Keir Starmer "gets it" too, going by his relentless promotion for growth.
More taxes on business and investment are not going to generate growth.
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Post by thomas on Feb 10, 2024 18:13:41 GMT
PFI is not counted towards National Debt, PFI is part of the `real` national debt , rather than the official national debt that dramatically underestimates taxpayers liabilities. Labour supporters may wish to portray PFI debt as not real , or hope creative accounting hides payments and keeps them off public sector balance sheets , but the bills still have to be paid by the taxpayer. As we know from scotland , the labour parties disastrous PFI legacy left taxpayers paying debts 5 times the capital cost of building these infrastructure projects would have cost in the first place. This so called invisible debt has crippled local government across scotland and England , 17 and 14 years respectively since they were booted out of power in Edinburgh and London.
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Post by thomas on Feb 10, 2024 18:15:29 GMT
Not sure why you sent me that Tam?.. an example of starmer hitting business with taxes , and then the experts going through labours tedious attempts to headline grab and pointing out what a disaster starmers taxes would cause if he were to follow through with his plans.
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Post by witchfinder on Feb 10, 2024 18:17:13 GMT
Some businesses can easily and readilly afford to pay more, mostly because of the way they do business, been unfair competitors to high street businesses. Also, many of the multi nationals are paying unbelievably small percentages of tax on a "tax to turnover ratio", they are paying less than most small and medium sized businesses.
The Tory way has failed, time to try a different way now, time for them to go
Cutting public services and cutting spending the way the Tories have done has been a mistake and a spectacular failure.
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Post by Red Rackham on Feb 10, 2024 18:19:20 GMT
Not sure why you sent me that Tam?.. an example of starmer hitting business with taxes , and then the experts going through labours tedious attempts to headline grab and pointing out what a disaster starmers taxes would cause if he were to follow through with his plans. Ahh yes, thought so...
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Post by Pacifico on Feb 10, 2024 18:29:31 GMT
Some businesses can easily and readilly afford to pay more, mostly because of the way they do business, been unfair competitors to high street businesses. Also, many of the multi nationals are paying unbelievably small percentages of tax on a "tax to turnover ratio", they are paying less than most small and medium sized businesses. We have never taxed turnover - we tax profits..
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Post by thomas on Feb 10, 2024 18:43:28 GMT
Some businesses can easily and readilly afford to pay more, mostly because of the way they do business, been unfair competitors to high street businesses. Also, many of the multi nationals are paying unbelievably small percentages of tax on a "tax to turnover ratio", they are paying less than most small and medium sized businesses. The Tory way has failed, time to try a different way now, time for them to go Cutting public services and cutting spending the way the Tories have done has been a mistake and a spectacular failure. sorry what? The tory way has failed? How many times have we heard new labour say they dont want to change the way tories do things , merely do it slightly better. What different way ? keir starmer isnt offering anything new or radical , he is merely the establishments hope of maintaining the status quo and managing decline a bit better than the tories. His own party activists are criticising his flip flops u turns and lack of originality. Alistair darling said back in 2010 that if labour won the next election , they too would have made deep cuts to spending due to the mess the last labour government left the economy....... Alistair Darling admitted tonight that Labour's planned cuts in public spending will be "deeper and tougher" than Margaret Thatcher's in the 1980s, as the country's leading experts on tax and spending warned that Britain faces "two parliaments of pain" to repair the black hole in the state's finances.
www.theguardian.com/politics/2010/mar/25/alistair-darling-cut-deeper-margaret-thatcher
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Post by Red Rackham on Feb 10, 2024 18:43:39 GMT
Some businesses can easily and readilly afford to pay more, mostly because of the way they do business, been unfair competitors to high street businesses. Also, many of the multi nationals are paying unbelievably small percentages of tax on a "tax to turnover ratio", they are paying less than most small and medium sized businesses. We have never taxed turnover - we tax profits.. Which is why Amazon are registered in Luxemburg, and within a few months of registering in Luxemburg secured a confidential agreement with the country's tax authorities. Wink wink.
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Post by witchfinder on Feb 10, 2024 18:47:16 GMT
For the past two years Amazon have paid ZERO Corporation Tax, meaning Nothing
In 2022 Amazon claimed more than £800 Million in "Business Expenses, thereby offsetting taxes, all thanks to a scheme devised by Rishi Sunak.
Paul Monaghan, the chief executive of the Fair Tax Foundation said: “Even before the super-deductions, Amazon paid little corporation tax in the UK, in part because the bulk of their UK income is still booked in Luxembourg.
Its all legal and above board under a Conservative scheme to help mega multi national corporations, whilst our NHS slowly goes down the drain.
Its time this was stopped and these loopholes ( legal ways of fiddling ) were were shut down
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Post by Bentley on Feb 10, 2024 19:01:41 GMT
For the past two years Amazon have paid ZERO Corporation Tax, meaning Nothing In 2022 Amazon claimed more than £800 Million in "Business Expenses, thereby offsetting taxes, all thanks to a scheme devised by Rishi Sunak. Paul Monaghan, the chief executive of the Fair Tax Foundation said: “Even before the super-deductions, Amazon paid little corporation tax in the UK, in part because the bulk of their UK income is still booked in Luxembourg. Its all legal and above board under a Conservative scheme to help mega multi national corporations, whilst our NHS slowly goes down the drain. Its time this was stopped and these loopholes ( legal ways of fiddling ) were were shut down If it’s legal then it’s not fiddling .
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Post by thomas on Feb 10, 2024 19:19:17 GMT
For the past two years Amazon have paid ZERO Corporation Tax, meaning Nothing In 2022 Amazon claimed more than £800 Million in "Business Expenses, thereby offsetting taxes, all thanks to a scheme devised by Rishi Sunak. Paul Monaghan, the chief executive of the Fair Tax Foundation said: “Even before the super-deductions, Amazon paid little corporation tax in the UK, in part because the bulk of their UK income is still booked in Luxembourg. Its all legal and above board under a Conservative scheme to help mega multi national corporations, whilst our NHS slowly goes down the drain. Its time this was stopped and these loopholes ( legal ways of fiddling ) were were shut down Amazon paid nearly £800 million in direct taxes last year ive read in the uk. Starmer must be really struggling in recent days with all the criticism of his various u turns , if labour supporters are back to the tried and trusted clobber big business with taxes wheeze to garner support. Didnt thatcher have corporation tax at one point at 52% , which Blair reduced down to 30% and brown 28% , while new labour continually made the case for keeping corporation tax extremely low throughout their tenure in government. Where does starmer stand ?
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