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So Chancellor Rishi Sunak clearly doesn’t value the work of the UK live entertainment industry. Why don’t we blackball him? “Sorry mate, your name’s not down, you’re not coming in”.
Even if he has a ticket
#noshowsforsunak
He's the "nice Tory" at the moment... If such a thing exists because of cheap pizza or whatever.
However, guilt by association and the inevitable, almost religious, inclination toward austerity will do for him.
So yeah, **** him and let him watch Netflix like the rest of us mortals.😁
He’s the “nice Tory” at the moment…
Wait until this is over, taxes will be increased to pay for this, and I've worked all through it being a "key worker", can't wait.
Plus the **** at witherspoons endorses him for bringing taxes for alcohol sales in supermarket in line with pubs, what about the number of pubs closed due to his glorified McDonald's
Wait until this is over, taxes will be increased to pay for this, and I’ve worked all through it being a “key worker”, can’t wait.
He as much as said so this week. I don’t understand though why people moan about simple maths though - you borrow it, and you have to pay it back. I’d be more concerned about where it went though the lost £m’s seems to be utterly unapproachable as far as this government is concerned.
Easy for you to say Kryton, but you have an above average income and will be less affected by the hikes. If taxes were more fairly apportioned then it would be easier to stomach.
you borrow it, and you have to pay it back.
Except that governments are not like people, in that they can produce money at will. In normal times this is frowned upon as it tends to increase inflation and make a country un-commercial with regards to others. At the moment inflation is not an issue (some say it wouild be a positive if it happened as it would reduce the effective size of the debt) and all countries are in a similar position, so the normal comparisons don't hold water.
One option is to rasie taxes/cutr spending, but there are definitiely others.
Easy for you to say Kryton, but you have an above average income and will be less affected by the hikes. If taxes were more fairly apportioned then it would be easier to stomach.
Actually I’ll earn 75% of my wages this year and my wife is redundant. I’m not trying to be smug which is what I feel you’re implying (apologies if his isn’t the case), but it’s the way of the world. You borrow, you give it back. One of the ways the government earns money is through taxation, hence we will be paying some to fund the increased borrowing. Or did you really think Furlough, Covid tests, additional PPE and Eating out discounts amongst he many deficits caused by the current situation going to come free?
Not quite sure how you think tax is unfairly apportioned but I guess that’s a different argument, and you don’t know that Sunak may change tax bands next April.
You borrow, you give it back
I would agree if there wasn’t a nagging feeling that it’s actually:
We borrowed it, gave it to our mates and you pay it back.
you borrow it, and you have to pay it back
This is really not true if you are a government with its own currency. Every time the Tories say this, they are lying, and you are doing their work for them by repeating it. Austerity is a deliberate choice which they justify by pretending that national budgeting is the same as household budgeting. Please don't assist them like this.
If you don't believe me about the money thing, have a read of some of the material linked from this page http://taxresearch.org.uk/Wiki/2020/05/13/understanding-money-resources-from-the-web/
Wait until this is over, taxes will be increased to pay for this, and I’ve worked all through it being a “key worker”, can’t wait.
I think many of the people who have lost or will lose jobs over the next year would quite happily swap your key worker role and the slightly increased taxes.
it’s the way of the world. You borrow, you give it back.
For individuals, yes (mostly). For governments, no.
I'm on the average wage - happily pay more tax if it results in the services and society I'd like to see AND tax avoidance loopholes are closed so we really are all in it together.
I think many of the people who have lost or will lose jobs over the next year would quite happily swap your key worker role and the slightly increased taxes.
Excellent a race to the bottom, just what the conservatives want after their mates trousered all the cash spunked during c19
You can't just inflate your way out of debt and there be no long term "cost". We (UK PLC) currently have low rates of interest on our borrowing. That would no longer be the case were just to use inflation to erode the value of our debt. You might get away with it once, although significant amounts of inflation would have other knock on costs for the individual too. so whilst government debt is not the same as household debt it's not quite a simple as "print more money" either.
Pretty sure that printing money didn't go well for Zimbabwe, and I'm not convinced the UK is that much better placed than they are looking ahead to Brexit 🤔
For all those who think Sunak is crap, who would you prefer to be in that job? Keeping in mind that he is the spokesperson and will get the flack for decisions made by his employer.
We borrowed it, gave it to our mates and you pay it back.
This.
Money doesn't exist, it's entirely fictional. Banks create it out of thin air every time they lend to someone. Government spending puts money into the economy, taxes take it out again. There is no evidence that abandoning austerity would cause rampant inflation, but huge amounts of evidence that continuing austerity would lead to serious long-lasting damage.
To be fair I agreed in my first post with MOAB and Jam-bo"
I’d be more concerned about where it went
I don't think Sunak is crap, he just needs to balance the books and I think there several point being raised about that but l<span style="font-size: 0.8rem;">ets not forget the services we do receive, of which all or some is paid by all or some of our taxes e.g. NHS whom a lot of us should be grateful for. Its not like all of it </span>disappears down a black hole and we don't get it back, just some of it...
MattOAB - Seen the GLP stuff a while ago but the more I read the more of a shocker it is. Good luck to them in the legal case, it's about time they were taken to account because frankly I can't see anyone else doing it no matter the outfall of covid and who's in power next.
If the other big countries/markets are printing money then inflation isn't such an issue... comparisons with zimbabwe etc are wrong.
If the other big countries/markets are printing money then inflation isn’t such an issue… comparisons with zimbabwe etc are wrong.
Then the question becomes "who holds the debt and stands to lose out when it's value is eroded" The sad truth of that is that much, although not all, is held by pension funds so governments effectively defaulting on their debt will hit pensioners. Probably the poorest the hardest too.
If inflation isn't excessive then there is limited erosion of the debt or it's value to the pension pot.
Their £ is still worth a £. It is not the same as defaulting in any shape or form.
Western countries have been printing trillions (QE) for the last decade and what impact has it had on the dollar & euro or even sterling (excluding Brexit)? None.