P.K. Posted August 1 Share Posted August 1 12 hours ago, Cambon said: They didn’t. It is basically income and savings lost due to labour cancelling certain current projects. Reeves isn’t bothered really, giving inflation busting rises left, left and centre left. @Cambon From the other thread. The released letter from the OBR to the Treasury makes for interesting reading: On 7/30/2024 at 4:19 PM, P.K. said: Rachel Reeves has been accusing the tories of lying about the state of the UK's finances to the extent of a £22bn black hole. This naturally caused ex tory Chancellor Jeremy Hunt, who everyone trusts of course, to refute this claim. Hunt is right to do this as apparently it's only £21.9bn... 'Bean counters' get their revenge, as Reeves unveils spending audit. Two years ago the "bean counters" at the UK's top economic institutions were just about to come directly into the line of fire. Liz Truss’ Conservatives were plotting a full frontal attack on the Treasury and the Office for Budget Responsibility (OBR), planning to sack the bosses of the former and abolish the latter altogether. Things have now come full circle. Treasury officials effectively penned a 20-page blame-sheet, cataloguing spending anomalies, as ammunition for the new chancellor, launching her own broadsides in parliament on Monday. Then just after Rachel Reeves published her audit of spending, external, the OBR released a letter, external. The independent forecasters were unexpectedly backing up - in public - the chancellor's central contention that she was left a dire fiscal inheritance. The OBR has made clear there were billions of pounds of spending pressures that it did not know about when preparing its last forecast in March. The spending was only revealed to them last week, the letter said, and given the “seriousness of the issue” the OBR has launched a review into the March forecast to assess the “adequacy” and “assurances” provided by the Conservatives. If you couldn't be arsed to download and read the PDF from the OBR to the Treasury here is my executive summary: "WTFHBGO???!!!" Quote Link to comment Share on other sites More sharing options...
John Wright Posted August 1 Share Posted August 1 14 hours ago, Anyone said: Can’t think how pensioners will be subject to employer and employee NI if they don’t work. Levied on pensions? State and private? And investment income like bank interest and dividends ? And with no employer to pay the employer NI it’s going to be a big bill for those paying it with no employer. Sounds complicated and possibly hard to enforce. Maybe labour only plan to govern for those who voted for them and those who will vote for them in the future. Just if they’re working and earning. 1 Quote Link to comment Share on other sites More sharing options...
Anyone Posted August 1 Share Posted August 1 Doubt there’s that many working and earning over pension , so not much of a money spinner. Hard enough to get some of the buggers to work under pension age. 1 Quote Link to comment Share on other sites More sharing options...
Albert Tatlock Posted August 3 Share Posted August 3 3 Quote Link to comment Share on other sites More sharing options...
Banker Posted August 27 Share Posted August 27 Listening to Starmer today sounds like lots of tax rises and potentially new taxes coming in October budget to pay for shortfall and public sector pay rises, Alex may get a few ideas from labour, tax the rich!!! 1 Quote Link to comment Share on other sites More sharing options...
Meoir Shee Posted August 27 Share Posted August 27 36 minutes ago, Banker said: Listening to Starmer today sounds like lots of tax rises and potentially new taxes coming in October budget to pay for shortfall and public sector pay rises, Alex may get a few ideas from labour, tax the rich!!! Quote Link to comment Share on other sites More sharing options...
Luker Posted August 27 Share Posted August 27 On 7/31/2024 at 10:10 PM, Anyone said: Can’t think how pensioners will be subject to employer and employee NI if they don’t work. Levied on pensions? State and private? And investment income like bank interest and dividends ? And with no employer to pay the employer NI it’s going to be a big bill for those paying it with no employer. Sounds complicated and possibly hard to enforce. Maybe labour only plan to govern for those who voted for them and those who will vote for them in the future. It will hopefully stop all the greedy public sector workers taking retirement then coming back on contract and paying no NI on their second government salary as they’re retired. Quote Link to comment Share on other sites More sharing options...
Non-Believer Posted August 27 Share Posted August 27 Things slowly coming to a peak, the results of 50 years of "trickle down" economics and globalisation which has led to huge wealth transfer to the already wealthy, both individual and corporate. Being so grants them the ability and privilege of paying little or nothing in taxation, relative to the rest, and leaves the governments of jurisdictions globally living in fear of capital flight and the loss of what revenue they do receive should they they try to raise taxes on this economic group. It will only be resolved by a unified global approach to taxation. 1 Quote Link to comment Share on other sites More sharing options...
WTF Posted August 27 Share Posted August 27 (edited) 22 minutes ago, Non-Believer said: Things slowly coming to a peak, the results of 50 years of "trickle down" economics and globalisation which has led to huge wealth transfer to the already wealthy, both individual and corporate. Being so grants them the ability and privilege of paying little or nothing in taxation, relative to the rest, and leaves the governments of jurisdictions globally living in fear of capital flight and the loss of what revenue they do receive should they they try to raise taxes on this economic group. It will only be resolved by a unified global approach to taxation. it was put to me that governments can have 2% tax on a lot of money or 100% tax on none. ( or something like , paraphrasing a bit as IDRC ) Edited August 27 by WTF 1 Quote Link to comment Share on other sites More sharing options...
Gladys Posted August 27 Share Posted August 27 38 minutes ago, Luker said: It will hopefully stop all the greedy public sector workers taking retirement then coming back on contract and paying no NI on their second government salary as they’re retired. You still have to pay NI until your state retirement age, don't you? 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted August 27 Share Posted August 27 38 minutes ago, Luker said: It will hopefully stop all the greedy public sector workers taking retirement then coming back on contract and paying no NI on their second government salary as they’re retired. You are not retired if you are working. You have just taken your occupational pension. You still pay NI. Asfaik 1 Quote Link to comment Share on other sites More sharing options...
Happier diner Posted August 27 Share Posted August 27 Just now, Gladys said: You still have to pay NI until your state retirement age, don't you? Crossed in the ether👍 1 Quote Link to comment Share on other sites More sharing options...
Luker Posted August 27 Share Posted August 27 22 minutes ago, Happier diner said: You are not retired if you are working. You have just taken your occupational pension. You still pay NI. Asfaik Not after 65. Quote Link to comment Share on other sites More sharing options...
Gladys Posted August 27 Share Posted August 27 2 minutes ago, Luker said: Not after 65. It is tied to your state retirement age, ie when you start receiving your state pension. 1 Quote Link to comment Share on other sites More sharing options...
Hairy Poppins Posted August 27 Share Posted August 27 (edited) I'm not really sure what the issue is with what Starmer said today. It's bad news so of course people don't like to hear it. But the UK is in a masive financial mess. You can argue until the cows come home about who is to blame, but the reality is we are where we are. The UK is going to have to cut its cloth accordingly. Yes the public sector pay rises may seem questionable, but could we carry on with endless strikes crippling the health system and transport infrastructure? If you want decent public services then they have to be paid for one way or another. There's no endless pot of money. We're going to have a similar realisation on the IOM before too long. Edited August 27 by Hairy Poppins 1 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.