Pre-Budget Report - LIVE

JonnyBravo

If you like.

Personally I think, as I've already stated, that they all benefitted from the implicit support of the Govt.

If those banks that are so damn healthy still want to pay bonuses then they can. Only it'll cost them 50% more. Seems ok to me.

ses6jwg

Nope, they will just lay off people lower down the ladder to cover the 50% cost or move their operations elsewhere i.e. Hong Kong, Zurich.

Some may have benefitted if the others had gone bust due to increased market share.

JonnyBravo

ses6jwg wrote: »

Nope, they will just lay off people lower down the ladder to cover the 50% cost or move their operations elsewhere i.e. Hong Kong, Zurich.

Some may have benefitted if the others had gone bust due to increased market share.

They may move if they think that they will save long term. Taxing a few hundred million between all the banks ain't going to make the difference there.
This is only on bonuses over £25k, so it's only the high flyers. They're laying off already. It's called a recession and the share price is all that matters to them..... oh and I mean the shareprice over the next few months..... longterm??? hah! They all just think about this years bonus.

Graham_Devon

ses6jwg wrote: »

Nope, they will just lay off people lower down the ladder to cover the 50% cost or move their operations elsewhere i.e. Hong Kong, Zurich.

Some may have benefitted if the others had gone bust due to increased market share.

Well we will see if they do move now won't we.

They have been threatening it for quite a while now, since the financial crisis.

Let's just see if they now actually follow this through, or whether they were simply being greedy and blackmailing us.

whathavewedone

Did anyone watch George Osborne's response to the PBR? I've been a bit dubious about him as Shadow Chancellor, mainly because of his age, but I thought he was excellent this afternoon.

I can't believe all the ridiculous giveaways and then a rise on National Insurance for everyone on over 20k. Nothing that's going to reduce the deficit and nothing to encourage growth either. A purely cynical PBR to appeal to Labour's core voters. I hope the media rip them apart for this.

lostinrates

Graham_Devon wrote: »

Well we will see if they do move now won't we.

They have been threatening it for quite a while now, since the financial crisis.

Let's just see if they now actually follow this through, or whether they were simply being greedy and blackmailing us.

I think iut might take more than a one off tax, but I might be wrong. I also think when people make the decision to leave and when they leave might not be an instantaneous thing. People might think now that they will start looking for oppertunities with legs, rather than the next oppertunity.

Pete111

JonnyBravo wrote: »

They may move if they think that they will save long term. Taxing a few hundred million between all the banks ain't going to make the difference there.
This is only on bonuses over £25k, so it's only the high flyers. They're laying off already. It's called a recession and the share price is all that matters to them..... oh and I mean the shareprice over the next few months..... longterm??? hah! They all just think about this years bonus.

Nope.

Plenty of mid level banking staff get bonuses above this level.

JasonLVC

whathavewedone wrote: »

Did anyone watch George Osborne's response to the PBR? I've been a bit dubious about him as Shadow Chancellor, mainly because of his age, but I thought he was excellent this afternoon.

I can't believe all the ridiculous giveaways and then a rise on National Insurance for everyone on over 20k. Nothing that's going to reduce the deficit and nothing to encourage growth either. A purely cynical PBR to appeal to Labour's core voters. I hope the media rip them apart for this.

A very strange budget indeed, almost a 'play it safe' budget to a degree.

No radical increases on anything, no big changes to SDLT, CGT, corporation tax, reliefs, etc, quite a few giveaways (although no detail on HOW this is going to be afforded) and a little NI increase in two years time when in reality it needed to be now.

This was a budget designed to save the Labour party, not the country. I suspect it may fail on both levels.

lostinrates

whathavewedone wrote: »

Did anyone watch George Osborne's response to the PBR? I've been a bit dubious about him as Shadow Chancellor, mainly because of his age, but I thought he was excellent this afternoon.

I can't believe all the ridiculous giveaways and then a rise on National Insurance for everyone on over 20k. Nothing that's going to reduce the deficit and nothing to encourage growth either. A purely cynical PBR to appeal to Labour's core voters. I hope the media rip them apart for this.

Yes, and I agree. I have listen to hi a few times and thought he is a calm, level headed man who is a good communicator. I'm sure he's as self interested as the next man, and I don't claim otherwise, but I think he performs rather better than people give him credit for. Much simpler to yell about Old Boy's networks and short trousers in attack.

JonnyBravo

Pete111 wrote: »

Nope.

Plenty of mid level banking staff get bonuses above this level.

OK, I meant they are well paid. Presumably on over £100k to get a £25k bonus. Mid level banking that may be but it ain't "mid level UK"