Not Struggling To Pay Your Mortgage And Feed The Kids?

[ToraToraTora]

https://www.telegraph.co.uk/politics/2024/05/17/politics-live-jeremy-hunt-speech-nigel-farage-keir-labour/

You soon will be......

[mushroom25]

all parties are now making outlandish claims about all the stuff they'll do, and/or outlining the horrors that await if we vote for their opposition. 

£38bn unfunded black hole in Labour's plans? how about the £46bn black hole in Conservative plans if they go ahead and abolish National Insurance....

[youngmafbog]

//how about the £46bn black hole in Conservative plans if they go ahead and abolish National Insurance....//

Can you explain that please?

[youngmafbog]

Personally I wouldnt listen much to any politician for the next few months TTT.

We all know labour will spend and spend they always do. 

But the TINO's have been no better.  We need to take the short term pain for long term gain.

[ToraToraTora]

The £38bn comes from the treasury.

[Gromit]

Tht's almost as much as Liz Truss and Crazi Kwartang lost the country in 46 days.

The Conservative's recent record on the economy is very bad.

[Spungle]

We all know what Labour do.  It never ends well.

[youngmafbog]

That statement is sheer rubbish and shows you total lack of economics.

There are plenty of things to pull the TINO's apart with so why persist with spouting nonsence?

[Gromit]

// According to a new report from the Pensions Regulator, the value of assets held by pension funds fell by around £425bn over 2022, equivalent to a 24 per cent fall in the overall value of scheme assets. //

That is fact, not a made up figure.

[youngmafbog]

Nothing else went on in the World then?

You do realize pension funds are diverse?

[Gromit]

// 

Liz Truss and Kwasi Kwarteng's mini-budget cost Britain an eye-watering £74billion, the head of the UK's debt management office has said. Robert Stheeman, who is in charge of overseeing the UK's £2.1trillion Government bond market, echoed recent comments from the Bank of England that his office was not fully briefed before the former PM and the ex-Chancellor's economic blueprint was unveiled last month sparking chaos with its unfunded tax cuts.

He said that the office's overall financing requirement increased from just over £160billion to £234billion, which he admitted was "not an insubstantial amount". //

[newmodarmy]

Gromit...pension funds went down and then went back up and are even higher. so the billions weren't lost. 

[newmodarmy]

And the proposed tax cuts weren't made.....soagain no loss.

[mushroom25]

// Can you explain that please? //

https://www.bbc.co.uk/news/articles/c3g51qlxezro#:~:text=It%20has%20also%20said%20it,talking%20about%20NI%20for%20workers

[Old_Geezer]

You stop collecting a particular tax and that comes straight off the public kitty income. This is presumably the black hole referred to.

 

Government has the option to raise other taxes to compensate but there is an interesting consequence.

Removal of NI means those working have more £££s in their pocket as they no longer pay it. Other's don't get that advantage. But raise other taxes to compensate and it's likely all will get affected, which means workers are, more or less, back where they started, while others, such as pensioners, are now paying tax and so are disadvantaged. Remove NI by all means, but have a decent plan on how those things it funds are to be funded in future, ensure the vulnerable aren't hit. And have an acceptable change in how folk qualify for unemployment benefit, sickness benefit, retirement pensions, etc.. State pensions in particular as it ain't clear if it's an entitlement or a benefit.

[gulliver1]

What does  TINO stand for ?

[Old_Geezer]

Tory in name only.

[theshedman]

The thing that gets me is like when Labour say they have got things COSTED.  To me that just means they know how much it should cost and not how they are going to get the money to do it.

[Deskdiary]

theshedman - oh I know exactly how they would do it. It would be through direct taxation; the Left love direct taxation. BUT, they love even more direct taxation of those who have had the bare-faced temerity to do reasonably well in life. What they would do is use mealy-mouthed soundbites like "those with the broadest shoulders should pay more" even though those with the 'broadest shoulders' already pay more because (even ignoring the higher rate tax) hey, that's how percentages work. 
 

Labour will revert to type.

 

Sir Beer Kneel-A-Lot has already promised to sort the NHS out, sort immigration out, improve the UK economy (the latter has never happened under a Labour Govt), give everybody a free Unicorn and guarantee me a go on Liz Hurley. I don't believe him as much as I don't believe what the TINO promise.

 

Frankly, I'd trust all of them, no matter their hue, as far as I could spit a dead rat.

[douglas9401]

Yer but, no but, etc.

[Deskdiary]

Thanks for the BA TTT, but I think Doug should get is for his response which is, as usual, insightful, interesting and useful in encouraging debate.