Brexit the economy and house prices part 6

Herzlos

Filo25 wrote: »

On University education, I actually don't have an issue with targeted relief on say those from lower income families (in a similar way to how the old grant system worked), I do have an issue with it being fre to everyone given the numbers we now send to university and the demographics of the the background of the typical university student (it basicalyl just ends up being a massive middle class bung).

I'd be all for reassessing who we send to university (with other options), but it should be based on ability rather than wealth.

For tax once you reach £100k you start getting tapering of your personal allowance, which takes the marginal tax rate to 60% plus the 2% NI, that applies to salaries between 120-123k, we have a couple of weird anomalies like that in the tax system, child benefit is another obvious one, which affects a lot of people.

The personal allowance is £11,815. Losing it by 123k would mean paying an extra £5316 in tax, which would be 4.3%, so I'm not sure how that'd bridge the gap from 45% to an effective 60%?


I assume there are other allowances lost (pension allowance etc) that might sting,

personaly I think you start seeing issues with rates over 50%, if only because psychologically you start to think you are working more for the state than yourself.

Agreed, total tax shouldn't exceed 50%. But I'd be all for upping it a small amount across the board (we moved the 40 band to 41 up here and there weren't that many complaints, I can't say I've noticed either).

Filo25

I was referring to marginal rate of tax rather than average rate (marginal is pretty much all that matters from an incentives point of view)

Moby

Apparently AstraZeneca has suspended investments in Britain due to lack of clarity over Brexit, the pharmaceutical firm’s non-executive chairman Leif Johansson told France’s Le Monde newspaper.

Herzlos

Filo25 wrote: »

I was referring to marginal rate of tax rather than average rate (marginal is pretty much all that matters from an incentives point of view)

Ah yeah, the people getting pay raises from £49,999 to £60,000 or £109,999 to £123,000 will feel pretty hard done by. I know I was when I had to give all the child benefit back but I got over it pretty quickly.

BobQ

Joan_number_1 wrote: »

A (deliberate?) miscomprehension of patriotism perhaps.

Its quite possible to love your country and believe that a narrow majority to leave was either wrong or that it proves the whole country wanted the UK to stop all immigration or to remain in a Customs Union. Patriotism is nothing to do with Brexit.

BobQ

ben501 wrote: »

Who by, Ms Abbott?:rotfl:


I just had a quick look at the manifesto. Plenty of 'We'll spend billions on this and that', but not much about where these magic money trees will be found.


Perhaps you'd care to elaborate for those of us less proficient at searching the web.

I always find it amusing when someone cannot bother to read the Annexes


I am not claiming the figures add up but I do recall that the Conservatives did not even try to cost theirs.

BobQ

Lungboy wrote: »

I think certain issues, like the Irish border, have only really come to light since the vote and people actually started to think about things in detail.

Were you too young in 2015 to understand the issue?

EU Referendum: Theresa May predicts Irish border controls if UK pulls out of European Union

https://www.bbc.co.uk/news/uk-northern-ireland-politics-36587809

https://www.theguardian.com/politics/2016/jun/08/brexit-threat-northern-ireland-border-communities

The fact is Leave mislead voters

Boris Johnson has said he does not believe the Irish border would be affected if the UK left the European Union.
The mayor of London was in Northern Ireland on Monday just 48 hours after Prime Minister David Cameron's visit.
Mr Johnson announced a £62m order for County Antrim firm Wrightbus.

However, ahead of June's EU referendum he has discussed why he thinks the UK would be better off outside the European Union.
He told the BBC a Brexit would leave arrangements on the Irish border "absolutely unchanged".

https://www.bbc.co.uk/news/uk-northern-ireland-35692452

melanzana

A drop in house prices is only good for one cohort.

Yep, cash buyers. Because if house prices go down, they also go down elsewhere for those selling with an existing mortgage. No win really.

And so the oligarchs and money rich buy up everything in sight again. Sigh. Rinse and repeat.

BobQ

ben501 wrote: »

I just had a quick look at the manifesto. Plenty of 'We'll spend billions on this and that', but not much about where these magic money trees will be found.


Perhaps you'd care to elaborate for those of us less proficient at searching the web.

http://labour.org.uk/wp-content/uploads/2017/10/Funding-Britains-Future.pdf


If you could not find this your proficiency is indeed poor.


As I say the Conservatives did not provide a similar document and just basked in their usual arrogance of assuming their supporters were more gullible.

Herzlos

https://voxpoliticalonline.com/2018/10/15/is-theresa-mays-chequers-plan-a-red-herring-to-trick-the-eu-out-of-seeing-what-shes-really-doing/

It's from a left wing anti-brexit site, but it's about the only credible reason I can think of for May to keep doing with the chequers deal despite it being rejected multiple times.