the snap general election thread

mrginge

Wild_Rover wrote: »

Hang on, I thought that we were being told that we have to wait for the manifestos before finding out how all the promises were to be "fully funded" (a.k.a met out of borrowing....)?

WR

No no. We're taking an agile approach here.
Make up the policies as you go along, bang all the costings against the one major tax you've not ruled changes out against.

Give it a fortnight and we'll probably be up to 40% CT.

ThinkingOutLoud_2

So what is totally mad here is that lots of studies seem to confirm - if you hike Corporation Tax - then a major portion of that increased cost to business (because it is that simple) is "passed on" or rather recouped via wages.

So those who work for a living would like to see their wages frozen or cut.

Genius from Labour (sic).

Thrugelmir

ThinkingOutLoud wrote: »

So those who work for a living would like to see their wages frozen or cut.

Minimum wage increases and employer pension contributions suggest otherwise.

sevenhills

ThinkingOutLoud wrote: »

So what is totally mad here is that lots of studies seem to confirm - if you hike Corporation Tax - then a major portion of that increased cost to business (because it is that simple) is "passed on" or rather recouped via wages.

It is probably a good way to raise tax revenue, better taxing at 19% than income tax at 45%
A corporation tax below 22% would be below the world average.

Thrugelmir

sevenhills wrote: »

A corporation tax below 22% would be below the world average.

Global companies move their profits accordingly.

Fella

So Labour not only produce a manifesto straight from the 1970s but they don't even have the courage to release it officially. Instead they leak it & take the official line that they "don't comment on leaks" so they can gauge reaction then strip out the bits they don't think will fly.

Gotta love the transparency of their student politics do they have actual 17-y-olds dictating policy these days?

westernpromise

Fella wrote: »

do they have actual 17-y-olds dictating policy these days?

They have people doing it who haven't changed their views on anything since they were 17, so yes, pretty much.

antrobus

Everyone's favourite anarchist, Guido Fawkes, has put the draft manifesto on line

https://www.scribd.com/document/348012594/Full-Labour-Party-Manifesto-Draft

Or at least one version thereof.:)

A brief run through shows that is is full of extra spending commitments. For example;

We will appoint dedicated global ambassadors for women's rights, LGBT rights and religious freedom to lead the government's work to fight discrimination and promote equality globally - working alongside a Labour government's Minister for Peace and Disarmament.

A new ministry and three global ambassadors is going to cost a few million. As are all the other little goodies scattered throughout the document. I have no idea where the money is going to come from.

Filo25

Thrugelmir wrote: »

Global companies move their profits accordingly.

Indeed, it basically just ends up hitting companies whose primary business is in the UK, while multinationals find it remarkably easy to legally reduce the profits on their UK business and redirect them to lower tax jurisdictions.

That's why the proposed increase is unlikely to raise anything like the amount proposed in the medium term.

kabayiri

Thrugelmir wrote: »

Global companies move their profits accordingly.

I used to sit in on a 10 minute session where a global company ran through a monthly risk meeting.

I innocently asked how many individual risk centres were involved.

Over a thousand !!

No wonder the meeting actually ran over 4 days :eek: , and why individual contributions were just 10 mins long.

It's hard to imagine the power these companies have.