Just caught the last bit of the duel between Sunak and Starmer. A lady talked about how Brexit had caused a drop in her sales. She and her partner sell vinyl records and have lost 90% of their sales abroad because of the Brexit regs.
Sunak's answer was that they would reduce business rates and cancel NIC. What help is that It may reduce her outgoings a bit but it does not help her reduction in turnover. Turnover and profit is want counts in business, not a reduction in business rates.
Obviously people want their businesses to grow but they need to be able to export easily - not just have a small reduction in their expenses.
Right now, I am really incensed at his stupidy.
PS Don't forget that he mad a lot of money shorting the pound at the referendum.
GSM It’s a joke at the expense of a very poor Comms Team who have spent this whole campaign increasing support for other parties by either lying constantly (today’s target being the carefully apolitical Martin Lewis) or producing genuinely dire, much mocked memes.
I’m sure you know, Siope, that withdrawal of IHT relief on all agricultural land would bring in far more money than restricting it to large estates, which are probably held in trusts which keep them outside the scope of IHT anyway. But hey, farmers don’t fall within Starmer’s definition of ‘working people’ anyway do they?
I’m just waiting for Labour to announce a change in IHT that will only affect farms larger than the size of Wales, and the amazingly inept Tory communications team to put out an advert showing a smallholder weeping over her three chickens.
See my post above about the sort of tax increases which would affect everyone here unless they don’t drink or smoke (but I have noticed that a great many poorer people do drink and smoke, which I am not criticising, maybe their only pleasures in life).
Sorry in the above post it should be corporation tax not capital gains tax.
LizzieDrip
GSM some citizens don’t mind if taxes go up in order to maintain properly functioning, thriving public services. For some of us it’s about the greater good, not personal greed.
I completely agree. A small rise in taxes doesn’t affect the majority of people as much as Sunak claims but tax cuts affect wealthy people much more. We have a friend who is a business owner and when one of the capital gains tax cuts was announced a few years ago he said he was going to buy another Rolex, he has several.
Wyllow, it’s pretty clear that austerity will continue under Labour. They have said they will have to make spending cuts and take tough decisions. They promise much but can’t or won’t say where the money will be coming from.
I’m thinking of the smaller taxes Dinahmo - vehicle excise tax and fuel duty (both of which can affect prices in the shops), alcohol and tobacco duties for those who drink or smoke, council tax, insurance premium tax ….
And IHT reliefs can be removed - removing or lowering additional private residence allowance would hit a huge number of people, removing or limiting reliefs when passing on farm land or businesses would have a considerable impact on farmers and business owners.
Germanshepherdsmum
I suspect that taxes will go up far more under Labour than the Conservatives claim. Wait and see. There are many taxes which the sainted ‘working people’ pay beyond income tax, NI and VAT.
Such as? Those at the lower end of the income scale are unlikely to have assets subject to CGT.
Only 4% of estates are subject to IHT according to money savings expert.
The CT rate is still 19% for profits under £50k. It has increased to 25% on profits over £250k with marginal relief in between those two figures.
Yes, checked.
Conservatives claim they will cut 17 billion in taxes.
should be shouted from the rooftops - this will mean cuts in NHS and benefits, so much for levelling up for those of us relying on them in one way or another.
The greater good under Conservatives? No way. 😡
People need to vote Labour it would seem just to even maintain current levels.
GSM some citizens don’t mind if taxes go up in order to maintain properly functioning, thriving public services. For some of us it’s about the greater good, not personal greed.
Germanshepherdsmum
I suspect that taxes will go up far more under Labour than the Conservatives claim. Wait and see. There are many taxes which the sainted ‘working people’ pay beyond income tax, NI and VAT.
Well, that remains to be seen, GSM. But the Conservatives are planning to cut taxes which will mean services I need under threat and no way should anyone vote for that.
GSM was looking for something more obscure!
I suspect that taxes will go up far more under Labour than the Conservatives claim. Wait and see. There are many taxes which the sainted ‘working people’ pay beyond income tax, NI and VAT.
Tonight is the first USA presidential debate.
If he were allowed to Trump would behave like Sunak, constantly interrupting and shouting.
Fortunately the moderator will be able to mute the microphone of the one who is not speaking. What a pity Mischal Hussein couldn't do that.
He is stupid to think that some people swallow his half truths. He constantly claims that pensioners had a rise of £900 this year, he must know that any pensioner who was born before April 1951 got much less than that and that is approaching half the number of pensioners. Then there is his claim that he has brought down inflation, when it was high of course it was because of factors beyond his control. As for his continual lie that taxes will go up £2000 under Labour, despite the constant statements in the media that this is not correct he continues to peddle this lie.
SPS are state pensions Wyllow.
Whitewavemark2
My goodness Sunak does a good line in rudeness and tetchiness doesn’t he?
Obviously the Tory plan is to push tax,tax,tax. Forgetting that the past 14 years has been rise in tax, rise in tax, rise in tax. And to continue under another Tory government.
My thoughts exactly Whitewavemark2.
I don' t know about SP's GSM as I'm not in whatever category that is.
Meantime, Steve Webb, former Tory Minister, points out
With impeccable timing, HMRC have just published annual figures on numbers of pensioners paying tax. Number of people over state pension age paying tax rose by 660,000 in the last year from 7.85m to 8.51m...
And not pay tax on our SPs Wyllow.
yes Lovetopaint037 I was watching the debate on I player written reportage as they were verifying as it went along and the £2000 was refuted.
I also liked the verifying when Sunak accused Starmer of not following their policy on pensioners how dreadful etc and verify pointed out that we would get a wonderful £29 a year...
Last night was predictable. Sunak talking loudly over Starmer in order that the latter couldn’t finish anything without interruption. The lie which was disputed officially by the Treasury that every family would pay £2000 extra tax. No mention that this is over the length of Parliament and as said is not supported by the Treasury. Penny Mordaunt repeated this when she was debating with Andrea Rayner also in a loud aggressive manner. The Tories have nothing but aggression and lies to offer. The lies are being spread in the hope they can save their party from oblivion. It is nasty and unsavoury and humiliating. Get out and vote - give Labour a chance to begin a necessary change.
Brexit has been a total disaster for many small exporting businesses like the audience member said in her case but hey we got our sovereignty back..... Sunak's idea of reducing her rates/NI doesn't help if there's no income to tax.
Generally, it wasn't an inspiring debate: oft repeated statements.
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