Is "Old Labour" back?

[R1Geezer]

http://news.bbc.co.uk/2/hi/uk_news/politics/80 11321.stm

The old politics of envy and spite, bless, reds under the bed all the time. 50% tax band raises bu66er all and stifles ambition, tada, is the S word now back?

[sqad617]

Budget...bl00dy scary.....borrowings of �175 million THIS year.

Forecasting a growth of over 3% in 2011..........can't think of ONE forecast that have got right in the last 12months.

Top rate of tax...forget it...we will ALL have increases in our tax.

Top tax rate is an ambush for Cameron as it comes in just before the election...will he support it or not?...Just a Political move.

[jake-the-peg]

What? the Labour party that used to believe that the more you got out of the country the more you should put back in?

That one?

BTW isn't it just these high flyers that got us into the financial mess we're in right now?

Don't know many steel workers with Hedge funds - do you?

[Rollo]

"OLD" Labour never really went away.

It just got itself some New Labour clothes to cover up their real bodies, but they have now become threadbare and they can't afford to buy any new ones.

[R1Geezer]

150k does not a "high flyer" make, Jake, can't get a decent set of wheels for that.

[sqad617]

jake...tax top earners is a waste of time as there are not enough of them to bring in any decent amounts of money.

Many companies might just "bu99er off" and unfortunately we need them in the future.

The tax is just Political........any reason why it comes in next year?.......cause there is as just before an election Cameron will either have to abolish it or support it.

[Quizmonster]

As regards the S-word - by which I assume you mean socialism - I suggest you consider precisely where the C-word - and I am not referring to genitalia - has got us all recently!

[sqad617]

Quizmaster.....don't understand your question.

Hasn't New Labour been in power of the past 10yrs or have I missed something?

[jake-the-peg]

Sorry Geezer, squad?

Either �150,000 represents a very small "high fligher" part of the population that won't raise much money or it is a sum that won't even buy you a decent car.

Seems the right wing can't get it's story straight on this one!

As for the country needing high earners living here - that's really rather a pile of rubbish isn't it?

We don't need them to live here, we need them to base facilities here.

I don't think the head of Honda considered for a moment coming to live in Swindon. I wonder if the BMW president considered the delights of a semi in Cowley when the mini was based in Oxford.

[Quizmonster]

Sqad, I'm Quizmonster and I didn't ask a question!

Let me explain what my suggestion meant, however. Yes, New Labour has been in power in Britain but - until January - there was a Republican government in the USA. They're the right wing...the equivalent of the Tories here...but that didn't seem to help them avoid the financial melt-down that has affected us all.
So, by the C-word, I meant capitalism in general, not just politics here.

(And there I'll leave it.)

[sqad617]

Quizmonster....consider my wrist well and truly slapped.

P.S I made a mistake in my first answer...the borrowings are �175 billion....no million....sorry.

[R1Geezer]

All I'm saying jake is that the mob that caused the financial cockups where on a lot more that 150k. In the overall scheme of things there are relatively few on 150K, the government's own figures confirm they will only earn about a billion from this.

It has been proven time and again that higher tax discouragesa general endeavour in those who may potentially push into this area.

[jno]

oh yes, this new tax rate is definitely going to stuff my bonus. I know, I'll emigrate to the USA, where businesses will be delighted to hire someone who's just announced a string of profit warnings and redundancies - they desperately need to hire more failed business chiefs over there, right?

[whifffey]

So Britain is going to borrow �500 trillion - but from whom?

Who is going to give Britain �500 trillion? I can't see why i t matters, just computer figures.

We have a population that the island can't support, and still more are flooding in.

The two areas that are guaranteed to succeed are food (e.g Tescos) and faeces. Good old Britain, let them all in, we'll pay.

[JimmyCooper]

Who really cares??

All politics is tosh

Whoever is in power will get their pound of flesh so it isnt worth getting your knickers in a twist for

[sandmaster]

It never went away. Just rode along on a tide of worldwide economic greed which has now collapsed. They can no longer pretend that they are a party of low taxation. But it is pleasing to know that MPs will soon have a tax free attendance allowance in order to perform their jobs. I must suggest to my boss that if he wants me to turn up for work he should pay me each time I turn up, in addition to my salary.

[sqad617]

Whiffey, apparently there are plenty of overseas establishments that will lend UK the money..AT THE RIGHT PRICE.
2010...Economoc growth will be 1.5%
2011.." "" " " 3.1%

A prediction from sqad:
7days before the General Election...Economic results will show that the 2010 figures ar 1.6% of GDP

i.e haven't we done well?

[cassa333]

All these new higher tax rates don't come into until 2011 so that gives them all at least 18 months to sort out the best way to tax avoidance then doesn't it?

Anyway I thought we were up sIht creek already so why not tax them now to get the money now? It might also stop the rush for tax avoidance shcemes???

[sqad617]

cassa...not so...the high rate comes in April 2010....that is the clever bit. Just before the Election....will the Cons support it or erevoke it. This is a purely Political ploy as it will bing in relatively bu99er income.


Get it ?

[cassa333]

Either way they have some months to sort out the tax avoidance.