Brexit, the economy and house prices part 5

gfplux

So David Davis has excepted that the transition period will end at the end December 2020.
It would seam everything will stay the same during this transition period except Britain will have no representation in Brussels.
This will give Industry some stability to arrange things in their best interests.

cepheus

cogito wrote: »

I think your memory is faulty. If Wilson was despised at all, it was because he was as slippery as an eel and couldn't be trusted to speak the truth (pound in your pocket etc). I don't recall any specific campaign against him although he did get plenty of stick for his perceived untrustworthiness but then he was a politician after all.

He was more of a social democrat and certainly not extreme socialist. Yes, he was radical but that came in his approach to modernisation. I doubt that an extreme socialist would have supported Gaitskell over Bevan in the Labour leadership contest as Wilson did.

Corbyn is certainly no more extreme than Wilson. Perhaps your Overton window has shifted?

In 1971 the top rate of income tax on earned income was cut to 75%. A surcharge of 15% kept the top rate on investment income at 90%.[18] In 1974 the cut was partly reversed and the top rate on earned income was 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 (£191,279 as of 2016),[7].

https://en.wikipedia.org/wiki/History_of_taxation_in_the_United_Kingdom#Income_tax_2

This is how the parties have shifted


https://www.politicalcompass.org/images/uk2010.png


and in 2017 Corbyn's Labour was in this position.


https://www.politicalcompass.org/uk2017

cepheus

Businesses are packing up and moving folks

Faisal IslamVerified account@faisalislam

Unilever shifts to new unified HQ in Rotterdam, axing nine decade-old London HQ function inherited from Lever, becoming “Unilever NV” rather than PLC, & tax resident in Netherlands, third biggest FTSE 100 company heading off the index - company statement:

https://otp.tools.investis.com/clients/uk/unilever/rns1/regulatory-story.aspx?newsid=988892&cid=129 …

cepheus

Molly Scott Cato MEP@MollyMEP

European Parliament overwhelmingly voted today to put the final nail in the coffin of the Tories plan for creating tax-haven Britain post #Brexit.
No cooperation on tax, no trade deal.

http://mollymep.org.uk/2018/03/14/ep-votes-to-block-tax-haven-britain/ !!!8230;

ukcarper

cepheus wrote: »

Corbyn is certainly no more extreme than Wilson. Perhaps your Overton window has shifted?



https://en.wikipedia.org/wiki/History_of_taxation_in_the_United_Kingdom#Income_tax_2

This is how the parties have shifted


https://www.politicalcompass.org/images/uk2010.png


and in 2017 Corbyn's Labour was in this position.


https://www.politicalcompass.org/uk2017

I don't now who you keep posting those charts they are rubbish. Wilson was not as extreme as Corbyn and he was more pragmatic, Corbyn is a idealistic and that never works in the real world but its momentum and McDonnell that are the real problem.

gfplux

Bloomberg Brexit bulletin has this about the end of HUB banking.
This could be long term bad news for the City of London but will play out over the next few years.
As any Brexiter will tell you, they do not give a flying football about a banking job moving overseas.

QUOTE
Death of the Hub | About 20 banks have decided to expand in Frankfurt ahead of Brexit and other centers will also receive a boost as banks move away from the hub model, according to a lobby group. The old approach of doing everything from a hub like London is over, at least for now; said Stefan Winter, chairman of the Association of Foreign Banks in Germany. Instead, several different locations will be strengthened.
END QUOTE

gfplux

Bloomberg also have this gem

QUOTE
This one is from the archives, as the obituaries and tributes pour in for Stephen Hawking, the pioneering physicist who brought science to a mass audience.

Hawking, not known for his humility, warned May a few months after the referendum that the complexities of Brexit were beyond even his superior brain, according to the BBC.

I deal with tough mathematical questions every day, but please dont ask me to help with Brexit.
END QUOTE

cepheus

ukcarper wrote: »

I don't now who you keep posting those charts they are rubbish. Wilson was not as extreme as Corbyn and he was more pragmatic, Corbyn is a idealistic and that never works in the real world but its momentum and McDonnell that are the real problem.

I've just posted the tax rates. The top rate of income tax under Labour in the 70s was 83% or as much as 98% on certain categories of unearned income. What would happen if Jeremy Corbyn introduced tax at the rates used in the 70s?

Labour plans to increase income tax on earnings between £80,000 and £123,000 to 45%. For income of more than £123,000 it would be set at 50%.

https://fullfact.org/economy/are-conservatives-right-about-labours-tax-plans/

Your opinion needs to be supported with evidence. The Labour manifesto wasn't radical by historic standards. You have just got so used to low taxes on earnings and investment since Thatcher.

ukcarper

cepheus wrote: »

I've just posted the tax rates. The top rate of income tax under Labour in the 70s was 83% or as much as 98% on certain categories of unearned income. What would happen if Jeremy Corbyn introduced tax at the rates used in the 70s? What was it is the manifesto 50%?

Your opinion needs to be supported with evidence. The Labour manifesto wasn't radical by historic standards. You have just got so used to low taxes on earnings and investment since Thatcher.

It's not his tax rates that concern although those high tax rates were counterproductive with many people becoming tax exiles, and if you look at those rates in more detail you will see everybodies tax was higher. It's his unrealistic spending and belief that we can have a Swedish style government with U.K. tax rates on everybody except a few higher rate tax payers.

Arklight

Calling Unilever British was a bit of a stretch, it always looked like a Dutch takeover. But it was a fig leaf to cover the non sequitur of a Conservative Party that can't see Britain's assets sold off to foreigners fast enough, while pretending via it's (largely foreign owned) media empire propaganda that it's the party of patriotism.

Not great timing for May.