Labour propose confiscating 10% uk equities - pension planning response?

JoeEngland

Malthusian wrote: »

Not if you do an Argentina or a Zimbabwe.

Labour members also wistfully hark back to the days when if the national debt got too large, there was an elegant solution known as a pogrom.

Pogrom is an interesting choice of word given the supposed amount of anti-Semitism in Labour and reports of Jewish Labour MPs having a bodyguard when attending the conference.

EdSwippet

Triumph13 wrote: »

I doubt there is much point in changing asset allocations. If these lot do get in, then after they wreck the economy with this and other pieces of economic illiteracy, the next step is probably just to confiscate all investments in pension schemes and, if you are lucky, issue 'bonds' in their place - which inflation will rapidly render worthless.

Maybe, but that won't happen overnight. My plan is for both me and my assets to be gone entirely from the UK before then, and moving very gradually out of UK stocks now is but the first step, a gentle hedge against the probability of Labour getting a sniff of power.

Everything but my home and my DC pension (don't have any DB one) is movable internationally, and even there I can neuter 25% of the pension problem by taking the PCLS. I also have a non-UK DC pension from time spent working abroad, giving me another diversifier.

Sapphire

EdSwippet wrote: »

My plan is for both me and my assets to be gone entirely from the UK before then,

You are so very lucky to be able to do this. I'd be off to ANZ or the USA like a shot if it weren't for having family here who would not/cannot move. :sad:

bluenose1

Crikey I feel like I have entered Conservative Political Group reading this thread.
I am going to vote Labour as in my view it is the Labour Party who will protect my interests, not just for pensions but the NHS etc in old age etc.

k6chris

bluenose1 wrote: »

Crikey I feel like I have entered Conservative Political Group reading this thread.
I am going to vote Labour as in my view it is the Labour Party who will protect my interests, not just for pensions but the NHS etc in old age etc.

Never voted Conservative in my life, just many many years of trying to understand how the economy actually works as opposed to the nice words from nice politicians (of all variety). To protect the NHS and pensions, you need to have money, which means you need to have a thriving economy from which to fund (via taxes) that protection. Nice words are very cheap, but they don't always lead to nice results.



"For every complicated problem there is always a simple, wrong, answer"

mgdavid

bluenose1 wrote: »

Crikey I feel like I have entered Conservative Political Group reading this thread.
I am going to vote Labour as in my view it is the Labour Party who will protect my interests, not just for pensions but the NHS etc in old age etc.

Just please remember to say Thankyou to the rest of us who will be paying for you.....

Thrugelmir

bluenose1 wrote: »

Crikey I feel like I have entered Conservative Political Group reading this thread.
I am going to vote Labour as in my view it is the Labour Party who will protect my interests, not just for pensions but the NHS etc in old age etc.

Perhaps some of us are old enough to remember politics of old. Long before New Labour. Sometimes common sense alone is sufficient to place your X elsewhere.

Silvertabby

Thrugelmir wrote: »

Perhaps some of us are old enough to remember politics of old. Long before New Labour. Sometimes common sense alone is sufficient to place your X elsewhere.

i.e, those of us who lived through the 1970s. First the 3 day weeks, and then the winter of discontent.

Filo25

bluenose1 wrote: »

Crikey I feel like I have entered Conservative Political Group reading this thread.
I am going to vote Labour as in my view it is the Labour Party who will protect my interests, not just for pensions but the NHS etc in old age etc.

I've generally voted Labour most of my voting life, but this kind of populist expropriation really worries me, as to where it ends up going.

I certainly don't think they'll be protecting my modest DC pension, more likely to be raiding it, when they run out of other funds to "acquire".

Ignoring anything else it is also just a phenomenally stupid policy, hitting companies who are British owned and allowing foreign owned companies who trade in Britain to completely avoid the hit, the obvious ways to avoid this tax for larger corporations, will also ending up hitting the UK tax base as well.

ffacoffipawb

Filo25 wrote: »

I've generally voted Labour most of my voting life, but this kind of populist expropriation really worries me, as to where it ends up going.

I certainly don't think they'll be protecting my modest DC pension, more likely to be raiding it, when they run out of other funds to "acquire".

Ignoring anything else it is also jsut a phenomenally stupid policy, hitting companies who are British owned and allowing foreign owned companies who trade in Britain to completely avoid the hit, the obvious ways to avoid this tax for larger corporations, will also ending up hitting the UK tax base as well.

Sadly, the Corbynazis are as thick as esiatchonetee.