What would you like to see in the budget.

ronib

From Max Weber essays in sociology by H H Gerry & C Wright Mills publisher RKP. Essential reading.
Karl Marx, Keynes also died a long time ago. Ideas live on.

And?

Not quite understanding what this has to do with your cryptic comment about public service...

growstuff

Did you know that banknotes, coins and premium bonds are included in the figure for the national debt?

I'm a bit puzzled by bank notes and coinage being included; though I suppose that, currency being technically 'debt' and the BoE technically promises to redeem your notes and coins (bank IOUs) with something (it used to be silver or gold, but isn't any more) they have to be recorded as debt.

Premium bonds and savings accounts (as I have mentioned before) are of course part of government 'borrowing', just as much as Treasury bonds are.

How many people realise that their modest premium bond holding, or their NSI account are all part of that dreadful debt which everyone is being stirred up about...

From Max Weber essays in sociology by H H Gerry & C Wright Mills publisher RKP. Essential reading.
Karl Marx, Keynes also died a long time ago. Ideas live on.

growstuff

Are you aware that almost all people, including those receiving benefits, pay a percentage of Council Tax? The amount depends on the level set by the local authority.

I doubt if there is anybody in the country who doesn't pay some form of tax, whether it's VAT, road tax or whatever. Moreover, the vast majority of people pay income tax and National Insurance contributions at some point in their life.

This needs repeating, I think.

Most posters seem to be blind to the fact that there are more taxes than income tax. Perhaps if they could take on board the fact, that even those in receipt of benefits do pay tax, they might allow them to have 'agency' instead of being looked upon as non contributors...

ronib

Let me think about how to explain. There are volumes written on bureaucracy, Max Weber is excellent. Maybe I can return to this.

You mean the Max Weber who died over 100 years ago?

JaneJudge

No, I had no idea I think I must have missed all the basic economics classes at school unless they just didn't teach it

I doubt if it's taught in schools.

An overhaul of RF finance.

Let me think about how to explain. There are volumes written on bureaucracy, Max Weber is excellent. Maybe I can return to this.

No, I had no idea I think I must have missed all the basic economics classes at school unless they just didn't teach it

The money I hold in my HelptoSave account is included too.

Did you know that banknotes, coins and premium bonds are included in the figure for the national debt?

ronib

volver

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

What is our budgetary deficit 3trillion? Yes why not get the richer countries to contribute more? Commitments and contracts to China and India?

No, the OBR estimates that the deficit for 2022/23 will be about £100 billion, which is about 10% of the total money spent by the government.

obr.uk/forecasts-in-depth/brief-guides-and-explainers/public-finances/

I think you might be confusing deficit and debt.

Of course we are. 🤦🏼‍♀️

You shouldn't believe everything that nice Mr Hunt tells you.

Farzanah

Thinking that we should reduce foreign aid shows a fundamental misunderstanding of why we pay foreign aid. There is an argument that more wealthy countries, such as ours, should pay more in foreign aid to reduce the need for refugees to flee their own country seeking a better/safer life here.

We are not wealthy

ronib

growstuff

Also:

What do you mean by "Public service to serve the public"?

Just that

Sorry, but I seriously don't know what you mean. Who else does public service serve, if not the public?

ronib

volver

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

What is our budgetary deficit 3trillion? Yes why not get the richer countries to contribute more? Commitments and contracts to China and India?

Aye, I'm sure you're right.

Some days it's not worth arguing. This is one of those days.

growstuff

Also:

What do you mean by "Public service to serve the public"?

Just that

varian

Proper windfall tax on the energy producers, tax the international companies like Amazon on the basis of the revenues raised in the UK, cancel the tax loophole of "non dom status", increase the top rate of income tax to 50%, raise tax thresholds for low and middle income earners.

Pursue furlough fraud and crooked covid contracts, Invest in insulating homes, building more social housing, training more doctors and nurses, repairing school buildings and making the most of renewable energy resources.

This

Thinking that we should reduce foreign aid shows a fundamental misunderstanding of why we pay foreign aid. There is an argument that more wealthy countries, such as ours, should pay more in foreign aid to reduce the need for refugees to flee their own country seeking a better/safer life here.

MaizieD

^Tax should be paid by everyone including those who claim benefits.^

What, exactly, would be the point of taxing benefits, swampy1961?

I’ve never understood the rationale of giving benefits and then taxing, though I suppose I can see the stake in the community argument.

Wouldn’t it be better to raise the threshold at which people pay tax so that they didn’t need to claim benefits?

I took a look at the Tax credits system yesterday. It’s so complicated. The costs of administering it must be phenomenal.

volver

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

What is our budgetary deficit 3trillion? Yes why not get the richer countries to contribute more? Commitments and contracts to China and India?

growstuff

ronib What would your revised parameters for the NHS be?

I would ask The King’s Fund to research but in general, core services for maintenance of good health .

Foreign aid isn't like putting 50p in the collection box when you feel like it. Foreign aid is commitments and contracts.

I suppose you could try saying that you've not going to pay your car tax this year but the well off bloke down the road should do it for you. That might work.

volver

As I said above.

Foreign aid the whole of last year, £14bn. Losses in the markets over 2 weeks due to Truss's budget: £300bn.

Cutting foreign aid won't help you.

Over 2 years, which is the time left to the present government, 28 billion saved on foreign aid which is almost 10 percent of Truss black hole. Our friends in the UAE might help out with more foreign aid?

As I said above.

Foreign aid the whole of last year, £14bn. Losses in the markets over 2 weeks due to Truss's budget: £300bn.

Cutting foreign aid won't help you.