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Post by see2 on Dec 7, 2022 22:52:14 GMT
he didn't stop anything boom or busty I remember finding the claim ludicrous and this was at a time i still had some pretty stupid ideas myself But don't you know Gordon Brown is a vote winner, you have it all wrong it was the Tories what done it. You remind me of a trouble maker who used to be on an old forum, he continued to get things wrong as well. |
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Post by Pacifico on Dec 7, 2022 22:53:52 GMT
Well it should have but HMRC at the time was treating pension contributions by companies into overfunded funds as tax evasion so they had no choice but to take a pension holiday. You continually forget in your attempts to rewrite history that some of us actually were there.  It's good of you to acknowledge the over loaded pension pots but your suggestion that hapless companies had to feed their investors with what was pension money rather than to allow it to be used for the benefit of pensioners has a very hollow sound to it. One thing I didn't forget is just how arrogantly smart you THINK your are. How would they get it to pensioners if they were not allowed to put it into the overfunded pension pots at the time?. The HMRC rules on pension contributions being used to avoid tax have not significantly changed over the years. I have certainly never heard the Labour Party advocating that corporation tax breaks be increased. Oh - and the investors didn't get the money - the taxman did. |
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Post by andrewbrown on Dec 7, 2022 22:56:20 GMT
Of course we can look at the longer term view of austerity, it failed to deliver over a decade.
I'd also say that many people on this forum would credit Boris with the Covid recovery. Some of that is possibly earned.
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Post by see2 on Dec 7, 2022 23:05:50 GMT
It's good of you to acknowledge the over loaded pension pots but your suggestion that hapless companies had to feed their investors with what was pension money rather than to allow it to be used for the benefit of pensioners has a very hollow sound to it. One thing I didn't forget is just how arrogantly smart you THINK your are. How would they get it to pensioners if they were not allowed to put it into the overfunded pension pots at the time?. The HMRC rules on pension contributions being used to avoid tax have not significantly changed over the years. I have certainly never heard the Labour Party advocating that corporation tax breaks be increased. Oh - and the investors didn't get the money - the taxman did. Who said they were not allowed to put the money into pension pots? If it was OK to feed the money to the share holders, then it must have been OK to feed it to existing pensioners as a bonus, or to cancel worker input into pension scheme for a period. |
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Post by Pacifico on Dec 7, 2022 23:08:05 GMT
How would they get it to pensioners if they were not allowed to put it into the overfunded pension pots at the time?. The HMRC rules on pension contributions being used to avoid tax have not significantly changed over the years. I have certainly never heard the Labour Party advocating that corporation tax breaks be increased. Oh - and the investors didn't get the money - the taxman did. Who said they were not allowed to put the money into pension pots? I already told you - HMRC. |
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Post by see2 on Dec 7, 2022 23:15:38 GMT
__"In the 1990s many companies took the seemingly painless decision of stopping contributions to occupational schemes. The stock market was riding high and companies thought they could take "pension holidays" and still meet their obligations to pensioners.
Collectively, according to Inland Revenue figures, employers saved almost £18bn during the 1990s pension holidays - although staff were forced to carry on making payments. It was a time of booming corporate profits, although in hindsight much of that profit came directly from the savings in pension contributions".
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Post by see2 on Dec 7, 2022 23:19:01 GMT
Who said they were not allowed to put the money into pension pots? I already told you - HMRC. Proof of HMRC stopping money going into pension pots. I ask because your claim makes no sense. They certainly didn't do that in the 1990s. |
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Post by Pacifico on Dec 7, 2022 23:22:01 GMT
Oh dear... From a pension funding perspective, however, the resulting reduction in
pension scheme actuarial liabilities advantaged employers, 47% of whom were able to take a
pension holiday, a temporary cessation of employer contributions due to the widespread
pension scheme overfunding (Blake, 1995). These pension surpluses caused political
concern because pension contributions attracted tax relief, but the surpluses were untaxed.
In response, the 1986 Finance Act introduced a requirement that these surpluses be reduced to
no more than a five per cent excess over liabilities within five years, typically achieved by
employers reducing (often to zero) their employer contributions.
link |
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Post by see2 on Dec 7, 2022 23:29:10 GMT
Oh dear... From a pension funding perspective, however, the resulting reduction in
pension scheme actuarial liabilities advantaged employers, 47% of whom were able to take a
pension holiday, a temporary cessation of employer contributions due to the widespread
pension scheme overfunding (Blake, 1995). These pension surpluses caused political
concern because pension contributions attracted tax relief, but the surpluses were untaxed.
In response, the 1986 Finance Act introduced a requirement that these surpluses be reduced to
no more than a five per cent excess over liabilities within five years, typically achieved by
employers reducing (often to zero) their employer contributions.
linkOh dear More money into the hands of CEOs and Share Holders. but none for the pensioners. |
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Post by sheepy on Dec 8, 2022 8:19:57 GMT
But don't you know Gordon Brown is a vote winner, you have it all wrong it was the Tories what done it. You remind me of a trouble maker who used to be on an old forum, he continued to get things wrong as well. You remind me of a donkey wearing a rosette and saying anything you are told you will say. Repeating political lies to cover for dire politicians are still lies. |
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Post by Pacifico on Dec 8, 2022 8:28:39 GMT
Oh dear... From a pension funding perspective, however, the resulting reduction in
pension scheme actuarial liabilities advantaged employers, 47% of whom were able to take a
pension holiday, a temporary cessation of employer contributions due to the widespread
pension scheme overfunding (Blake, 1995). These pension surpluses caused political
concern because pension contributions attracted tax relief, but the surpluses were untaxed.
In response, the 1986 Finance Act introduced a requirement that these surpluses be reduced to
no more than a five per cent excess over liabilities within five years, typically achieved by
employers reducing (often to zero) their employer contributions.
linkOh dear More money into the hands of CEOs and Share Holders. but none for the pensioners. I thought you were in favour of higher taxes for companies - so what are you complaining about? Or are you finally catching on that Companies do not pay tax - only people do.. |
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Post by dappy on Dec 8, 2022 10:11:54 GMT
That's one of those dumb statements that comes up from time to time. Of course Companies pay tax - it's called Corporation tax. Of course Companies are owned by people - with bigger ones often owned by pension funds and other investment vehicles.
As always with tax and services, you can have low tax and low quality public services, you can have higher tax and higher quality public services, it is very hard to lave low tax and high quality public services.
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Post by see2 on Dec 8, 2022 11:04:58 GMT
You remind me of a trouble maker who used to be on an old forum, he continued to get things wrong as well. You remind me of a donkey wearing a rosette and saying anything you are told you will say. Repeating political lies to cover for dire politicians are still lies. I am not "TOLD TO SAY ANYTHING" BY ANYONE and I dispute the sort of political lies that you repeat with FACTUAL information. I do have a laugh at your opinions, but you should not be posting made up lies about me. |
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Post by see2 on Dec 8, 2022 11:07:50 GMT
Oh dear More money into the hands of CEOs and Share Holders. but none for the pensioners. I thought you were in favour of higher taxes for companies - so what are you complaining about? Or are you finally catching on that Companies do not pay tax - only people do.. Why didn't you address the points in my post? |
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Deleted Member
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Post by Deleted on Dec 8, 2022 11:09:20 GMT
Heres a poster from 1910, thats over a century ago , from the labour party promising to abolish the house of lords. Something they have promised to do , but never once done , in every election since.
Hilarious.
Not sure whats more hilarious , labour promising to abolish the HOL or the fact some people actually believe them.
Good post. In reality, I do think that Labour genuinely want to reform the HOL (into something far more malleable to their ideals) but they haven't actually got a clue how to go about it.
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