What Did Thatcher Ever Do For Us?

grizzly1911

Jennifer_Jane wrote: »

In my view, it was the Unions who were destroying Britain, the car industry was awful with the worst cars in the world made by British Leyland (I'm talking overseas reputation here, I don't know about local). Labour couldn't win against the Unions, Thatcher said "Vote for me and I'll sort them out", and she certainly did so. She was the right person at the right time.

The Bankers have done a pretty good job this time round.

Neither party can win against them. One may benefit more than the other.

Shame no one has has sorted them out or brought more key players them to book.

Pickets were easier to criminalise.

grizzly1911

Jennifer_Jane wrote: »

So you can't recall the tax rate being 19s 6d in the Pound?

I don't know who reduced the tax rate, but it's certainly come down enormously since then! And no tax credits or other rebates. I expect (but don't know) that the personal allowance was much lower than it is today, too. The effect of this high tax rate was the "Brain Drain".

I can recall it, how many people paid it?

We didn't have VAT at the same rate either or on so may things. We certainly didn't have it on energy (would have been full rate were it not for the vote being scuppered) and insurance policies.

We had Married Man Allowance. We had MIRAS.

Basic allowance was £4385 in 2000. It will be £10k in 2015 allowing for an average compounded real inflation rate it would be something over £9K anyway.

I am sure someone can provide on at least the other 66 stealth taxes and more.

Jennifer_Jane

grizzly1911 wrote: »

I can recall it, how many people paid it?

LOL! Yes, you're right, many people left the Country to avoid it. I have no idea how much money it brought into the Country, but I know my brother-in-law did, so it was quite close to home.

High tax rates are wrong. But your point was about taxes never reducing. Well, they did.

Not under Labour , perhaps, but certainly under other Governments.

grizzly1911

PaulF81 wrote: »

The union vote was more important. Much the same today with labour voters and benefits.

Not much different to Banker support and bonuses.

grizzly1911

kabayiri wrote: »

Also, certain car companies used to leave untreated body parts like car wings out in the open. I don't need to tell you how the Great British weather can aid rust production on untreated metal parts!

Don't know if there is any truth in it but I was told that a lot of the metal used was actually recycled WW2 scrap.

IIRC Fiats and Alfas were far from perfect.

Wasn't it also before the multi layer dip painting systems.

dryhat

The finest grade metal and the most advanced painting methods available
couldn't make this into a decent car....



or this...

BobQ

Jennifer_Jane wrote: »

So you can't recall the tax rate being 19s 6d in the Pound?

I don't know who reduced the tax rate, but it's certainly come down enormously since then! And no tax credits or other rebates. I expect (but don't know) that the personal allowance was much lower than it is today, too. The effect of this high tax rate was the "Brain Drain".

United Kingdom income tax has changed over the years. ............ The highest rate of income tax peaked in the Second World War at 99.25%.It was slightly reduced after the war and was around 90% through the 1950s and 60s.


In 1971 the top-rate of income tax on earned income was cut to 75%. A surcharge of 15% on investment income kept the top rate on that income at 90%. In 1974 this cut was partly reversed, and the top rate on earned income raised to 83%. With the investment income surcharge this raised the top rate on investment income to 98%, the highest permanent rate since the war. This applied to incomes over £20,000 (£155,247 as of 2013),[2]. In 1974, as many as 750,000 people were liable to pay the top-rate of income tax.[4] Margaret Thatcher, who favoured indirect taxation, reduced personal income tax rates during the 1980s.[5]
.............Since 1976 (when it stood at 35%) the basic rate has been reduced by 15 percentage points. However, this reduction has been largely offset by increases in national insurance contributions and value added tax.

So it appears that it always was fairly high in the last half of the decade but then reduced in favour of NI and VAT.

Overall tax revenue as a % of GDP was 35% in 1975, 38% in 1985, 35% in 1995, rising to 37% in 2000,and fell to 36% in 2005. (OECD)

grizzly1911

dryhat wrote: »

The finest grade metal and the most advanced painting methods available
couldn't make this into a decent car....



or this...

My dad had one of the former. Actually went pretty well for it's day and was roomy for it's class. I do remember the handbrake ripping out of the floor though:eek:

I had one of the latter. It was brown, at least it had a round steering wheel. The hydrolastic suspension used to make it pitch markedly at speed over the expansion joint on the M6 round Brum.

BL used to sell car interiors really, that were always more "plush" than equivalent Fords and Vauxhalls. Velour upholstery and plastic and "wood" dashboards instead of metal.

PaulF81

grizzly1911 wrote: »

Not much different to Banker support and bonuses.

The banks should have been left to fail. I hope they will give back RBS if Scotland gains independence... With the bill plus added interest.

sheffield_lad

Thatcher did divide folk into those who wanted to help themselves and those who did not. (I was the former not the latter), I suspect the folk full of venom for her fall into the latter.

I wonder what she would make of the needing to be spoon fed generation we have now?