comment by Sat Nav (U18243)
posted 1 hour, 3 minutes ago
Subscribe
Britain
Oct 30th 2021 edition
Farewell to austerity
Rishi Sunak’s budget marks a turn to big-state Conservatism
British tax rates will rise to levels last seen in the 1950s
Oct 27th 2021
Who is rishi sunak? Listen to the chancellor’s recent rhetoric, and you could be forgiven for thinking he was cast in the mould of a predecessor, George Osborne, who slashed the state in response to the global financial crisis. In a speech to the Conservative Party faithful on October 4th Mr Sunak described borrowing as “immoral”, and emphasised his eagerness to restore order to the public finances. But the budget he delivered on October 27th confused the picture. Reeling off spending measures, he refused to apologise for raising taxes and lauded the spending they supported. “The Conservatives are the real party of public services,” he trilled.
Mr Sunak displayed rare munificence. Government departments will get real increases in their budget of 3% a year on average until 2024-25, an increase reminiscent of largesse last seen consistently in the 2000s. Even more eye-popping are the chancellor’s plans for the size of the post-pandemic state. According to forecasts by the Office for Budget Responsibility (obr), a watchdog, spending will grow from 39.8% of gdp before the pandemic to 41.6% by 2026-27, the highest sustained share since the 1970s. Tax will rise from 33.5% of gdp to 36.2%, a level not seen since the early 1950s. The announcements recalled not Mr Osborne, but a very different predecessor: Labour’s Gordon Brown.
The Brownite giveaway was prompted by a surprisingly perky economy. In March the obr projected gdp growth of 4.1% this year. Now, thanks to rosier employment figures, it predicts 6.5%. In the same period, medium-term damage expected from covid-19 has gone from a gloomy 3% of gdp to a cautious 2%. Part of this is simply the passage of time revealing that investment has performed better than expected. But Mr Sunak is also benefiting from his adroit handling of the pandemic, which limited the hit to corporate balance-sheets.
All of this means Britain is borrowing less than expected. People are earning more, which increases the tax take. And Mr Sunak has raised taxes. In September he announced a health and social care levy, which will bring in a net sum of £12bn ($16bn) by 2024-25, and increased dividend tax rates. This year has seen the biggest overall tax rise since 1993—which is not a message the Tories will put on leaflets at the next general election.
Mr Sunak did offer some red meat to Conservative members. There was relief for payers of business rates, a cut to corporate-tax rates for banks and the now traditional fuel-duty freeze (as has happened without fail for the past decade). But none of these will cost more than £2bn a year by 2024-25. Mr Sunak also announced new fiscal rules: there will be no borrowing for day-to-day spending in three years’ time and debt will fall as a share of gdp. On current plans, he will meet these targets, but he has left less margin for error than his predecessors did with their rules, which all went unmet.
By the next election, Mr Sunak plans to be using most of the windfall delivered by better economic growth to lower borrowing (or, perhaps, as a slush fund for tax cuts). But now, he is spending—and in particular to ease the pressure on public services brought about by the pandemic. The health department will see the biggest increase, because hospitals must deal with both covid and an enormous backlog, but most will have at least some sort of rise. This will begin to reverse the cuts applied by Mr Osborne (see chart).
Given how much of the budget was trailed before, some wondered whether anything would be left for the main event. But the chancellor managed a few surprises. Half the planned increase in departmental spending in 2024-25 will restore foreign aid to 0.7% of gdp, a target abandoned during the pandemic. A welcome simplification to the mess of alcohol taxation was seized on by Mr Sunak, a Brexiteer, as a benefit of leaving the eu (it would not have been possible as part of the bloc). Firms running retail, hospitality and leisure properties will enjoy a temporary cut to business rates, to help their post-pandemic recovery.
The most impressive rabbit Mr Sunak pulled out of his hat was an increase in the generosity of Universal Credit, a benefit for working-age people. He faced criticism in September for allowing a pandemic-related uplift to expire, which cost recipients £1,000 a year. Rather than reverse the cut, Mr Sunak reduced the rate at which the benefit is withdrawn as people earn more. The Resolution Foundation, a think-tank, was quick to point out that together with higher minimum-wage rates, the change would still leave the poorest fifth of households £280 a year worse off.But it does at least cushion the blow.
Critics complain that the outlook for households’ disposable income is still pretty dismal. Mr Sunak’s cursory treatment of climate change smacked of complacency—and the trove of documents released alongside his speech revealed little that would fulfil Britain’s bold climate-change ambitions. Given the number of global leaders about to descend on Glasgow to discuss the matter, it was slightly odd to announce a cut on short-haul flights taxes (and not to raise fuel duty).
Before the budget, there was lots of noise about the growing distance between Mr Sunak and the prime minister, Boris Johnson. There were even rumours that Mr Johnson would move the chancellor to a different, less prominent job, so perturbed was he by his rival’s star power. But the fiscal event revealed them to be aligned, at least as far as governing the country is concerned. Both are happy to spend big if circumstances call for it. Neither is a small-state ideologue. ■
----------------------------------------------------------------------
the proof on the big state I guess will be proven in how well the money gets spent.
call me cynical but I wouldn't be surprised if this amazing increase to spending (taking us to almost 2010 levels.. almost) is just a way to pump more money into private companies to enrich people.
Zachsda, I'll drop you an email tomorrow if that is cool?
comment by Samus (Isle of) Arran (U22669)
posted 15 minutes ago
comment by Sat Nav (U18243)
posted 1 hour, 3 minutes ago
Subscribe
Britain
Oct 30th 2021 edition
Farewell to austerity
Rishi Sunak’s budget marks a turn to big-state Conservatism
British tax rates will rise to levels last seen in the 1950s
Oct 27th 2021
Who is rishi sunak? Listen to the chancellor’s recent rhetoric, and you could be forgiven for thinking he was cast in the mould of a predecessor, George Osborne, who slashed the state in response to the global financial crisis. In a speech to the Conservative Party faithful on October 4th Mr Sunak described borrowing as “immoral”, and emphasised his eagerness to restore order to the public finances. But the budget he delivered on October 27th confused the picture. Reeling off spending measures, he refused to apologise for raising taxes and lauded the spending they supported. “The Conservatives are the real party of public services,” he trilled.
Mr Sunak displayed rare munificence. Government departments will get real increases in their budget of 3% a year on average until 2024-25, an increase reminiscent of largesse last seen consistently in the 2000s. Even more eye-popping are the chancellor’s plans for the size of the post-pandemic state. According to forecasts by the Office for Budget Responsibility (obr), a watchdog, spending will grow from 39.8% of gdp before the pandemic to 41.6% by 2026-27, the highest sustained share since the 1970s. Tax will rise from 33.5% of gdp to 36.2%, a level not seen since the early 1950s. The announcements recalled not Mr Osborne, but a very different predecessor: Labour’s Gordon Brown.
The Brownite giveaway was prompted by a surprisingly perky economy. In March the obr projected gdp growth of 4.1% this year. Now, thanks to rosier employment figures, it predicts 6.5%. In the same period, medium-term damage expected from covid-19 has gone from a gloomy 3% of gdp to a cautious 2%. Part of this is simply the passage of time revealing that investment has performed better than expected. But Mr Sunak is also benefiting from his adroit handling of the pandemic, which limited the hit to corporate balance-sheets.
All of this means Britain is borrowing less than expected. People are earning more, which increases the tax take. And Mr Sunak has raised taxes. In September he announced a health and social care levy, which will bring in a net sum of £12bn ($16bn) by 2024-25, and increased dividend tax rates. This year has seen the biggest overall tax rise since 1993—which is not a message the Tories will put on leaflets at the next general election.
Mr Sunak did offer some red meat to Conservative members. There was relief for payers of business rates, a cut to corporate-tax rates for banks and the now traditional fuel-duty freeze (as has happened without fail for the past decade). But none of these will cost more than £2bn a year by 2024-25. Mr Sunak also announced new fiscal rules: there will be no borrowing for day-to-day spending in three years’ time and debt will fall as a share of gdp. On current plans, he will meet these targets, but he has left less margin for error than his predecessors did with their rules, which all went unmet.
By the next election, Mr Sunak plans to be using most of the windfall delivered by better economic growth to lower borrowing (or, perhaps, as a slush fund for tax cuts). But now, he is spending—and in particular to ease the pressure on public services brought about by the pandemic. The health department will see the biggest increase, because hospitals must deal with both covid and an enormous backlog, but most will have at least some sort of rise. This will begin to reverse the cuts applied by Mr Osborne (see chart).
Given how much of the budget was trailed before, some wondered whether anything would be left for the main event. But the chancellor managed a few surprises. Half the planned increase in departmental spending in 2024-25 will restore foreign aid to 0.7% of gdp, a target abandoned during the pandemic. A welcome simplification to the mess of alcohol taxation was seized on by Mr Sunak, a Brexiteer, as a benefit of leaving the eu (it would not have been possible as part of the bloc). Firms running retail, hospitality and leisure properties will enjoy a temporary cut to business rates, to help their post-pandemic recovery.
The most impressive rabbit Mr Sunak pulled out of his hat was an increase in the generosity of Universal Credit, a benefit for working-age people. He faced criticism in September for allowing a pandemic-related uplift to expire, which cost recipients £1,000 a year. Rather than reverse the cut, Mr Sunak reduced the rate at which the benefit is withdrawn as people earn more. The Resolution Foundation, a think-tank, was quick to point out that together with higher minimum-wage rates, the change would still leave the poorest fifth of households £280 a year worse off.But it does at least cushion the blow.
Critics complain that the outlook for households’ disposable income is still pretty dismal. Mr Sunak’s cursory treatment of climate change smacked of complacency—and the trove of documents released alongside his speech revealed little that would fulfil Britain’s bold climate-change ambitions. Given the number of global leaders about to descend on Glasgow to discuss the matter, it was slightly odd to announce a cut on short-haul flights taxes (and not to raise fuel duty).
Before the budget, there was lots of noise about the growing distance between Mr Sunak and the prime minister, Boris Johnson. There were even rumours that Mr Johnson would move the chancellor to a different, less prominent job, so perturbed was he by his rival’s star power. But the fiscal event revealed them to be aligned, at least as far as governing the country is concerned. Both are happy to spend big if circumstances call for it. Neither is a small-state ideologue. ■
----------------------------------------------------------------------
the proof on the big state I guess will be proven in how well the money gets spent.
call me cynical but I wouldn't be surprised if this amazing increase to spending (taking us to almost 2010 levels.. almost) is just a way to pump more money into private companies to enrich people.
----------------------------------------------------------------------
You might be right, time will tell but I do think this lot are spenders compared to the Osborne era or big state compared to 80s era
comment by Thorgen Kloppinson - I got 5 on it. (U1282)
posted 1 hour, 36 minutes ago
comment by PawlBawron (U1055)
posted 2 hours, 11 minutes ago
comment by CrouchEndGooner (U13531)
posted 2 hours, 10 minutes ago
NEW: Further arrests and one man charged following threats made to Angela Rayner. This follows an
initial arrest yesterday.
One man charged and two arrested following reports of malicious communications | Greater Manchester Police https://t.co/cvlc8hfU60
PaulBawron not been on for a few days 🤔
----------------------------------------------------------------------
Hello fella, half term and I've had fatherly duties to attend to.
I'm no fan of cowardly keyboard bullies but when you call millions of people skum l'm afraid in this day and age you are going to get a backlash.
----------------------------------------------------------------------
The world has gone crazy. PC gone mad millions of people crying over being called skum.
----------------------------------------------------------------------
https://www.mirror.co.uk/news/politics/angela-rayner-apologises-unreservedly-tory-25322075
comment by CrouchEndGooner (U13531)
posted 1 hour, 6 minutes ago
comment by Thorgen Kloppinson - I got 5 on it. (U1282)
posted 1 hour, 36 minutes ago
comment by PawlBawron (U1055)
posted 2 hours, 11 minutes ago
comment by CrouchEndGooner (U13531)
posted 2 hours, 10 minutes ago
NEW: Further arrests and one man charged following threats made to Angela Rayner. This follows an
initial arrest yesterday.
One man charged and two arrested following reports of malicious communications | Greater Manchester Police https://t.co/cvlc8hfU60
PaulBawron not been on for a few days 🤔
----------------------------------------------------------------------
Hello fella, half term and I've had fatherly duties to attend to.
I'm no fan of cowardly keyboard bullies but when you call millions of people skum l'm afraid in this day and age you are going to get a backlash.
----------------------------------------------------------------------
The world has gone crazy. PC gone mad millions of people crying over being called skum.
----------------------------------------------------------------------
https://www.mirror.co.uk/news/politics/angela-rayner-apologises-unreservedly-tory-25322075
----------------------------------------------------------------------
Quite right too, I'm guessing Starmer told her to do it before she returned to Westninster or the back benches were calling.
🚨 | NEW: A professor has quit the University of Sussex after being targeted by student activists over her views on transgender people after she said 'she doesn't believe people can change their biological $ex'
Via @thetimes
Boys Mayfair is haliaeouisu tonight
comment by CrouchEndGooner (U13531)
posted 9 hours, 49 minutes ago
comment by Thorgen Kloppinson - I got 5 on it. (U1282)
posted 1 hour, 36 minutes ago
comment by PawlBawron (U1055)
posted 2 hours, 11 minutes ago
comment by CrouchEndGooner (U13531)
posted 2 hours, 10 minutes ago
NEW: Further arrests and one man charged following threats made to Angela Rayner. This follows an
initial arrest yesterday.
One man charged and two arrested following reports of malicious communications | Greater Manchester Police https://t.co/cvlc8hfU60
PaulBawron not been on for a few days 🤔
----------------------------------------------------------------------
Hello fella, half term and I've had fatherly duties to attend to.
I'm no fan of cowardly keyboard bullies but when you call millions of people skum l'm afraid in this day and age you are going to get a backlash.
----------------------------------------------------------------------
The world has gone crazy. PC gone mad millions of people crying over being called skum.
----------------------------------------------------------------------
https://www.mirror.co.uk/news/politics/angela-rayner-apologises-unreservedly-tory-25322075
----------------------------------------------------------------------
This is maaaad!
Basically forced to apologise by woke mugs. What is the world coming to?
comment by De Gea's Legs (U14210)
posted 8 hours, 9 minutes ago
🚨 | NEW: A professor has quit the University of Sussex after being targeted by student activists over her views on transgender people after she said 'she doesn't believe people can change their biological $ex'
Via @thetimes
----------------------------------------------------------------------
Hmmmm.
'The academic has been REPEATEDLY accused of alleged transphobia over the past month for her views on gender identity, with a group of students actively campaigning for her to be fired.
The university has "unequivocally" defended Prof Stock and her "right to exercise her academic freedom and lawful freedom of speech".
"We had hoped that Professor Stock would feel able to return to work, and we would have supported her to do so.
"She has decided that recent events have meant that this will not be possible, and we respect and understand that decision.
In a series of tweets Prof Stock expressed her sadness at leaving and said IT HAD BEEN A DIFFICULT FEW YEARS.
I don't think that tweet does justice to the actual situation
Seems she didn't quit because of being targeted by protesting students. It was more like the last straw, or the one that broke the camel's back.
This tweet will get clicks and its designed to do so, but ignoring that it smells like fuel for culture wars.
comment by Sat Nav (U18243)
posted 5 hours, 16 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Eh?
Must be the juice.
You can't supply facts when limited to 140 characters.
Good instance where the dangers of social media can be seen. Social media should be for chatting with friends and getting girls, and not a source of factual info. Always double check anything you see on social media.
Most headlines are aimed at stocking up a 'culture war' these days. People love to be angry.
Comment deleted by Site Moderator
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
comment by bmcl1987 (U14177)
posted 49 seconds ago
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
----------------------------------------------------------------------
I think it was just Bombay sapphire tbh.
The head is killing me
Solpadeine.
Plink plink fizz.
Comment deleted by Site Moderator
Interesting how the positioning of the tweet to trigger folk like ttliv above. This is proposed legislation on things like “gay conversion” courses predominantly supported by the religious right. What will be tricky for them to manage is to define the line between qualified and certified child psychologists and medical staff, as the current proposal appears to differentiate.
comment by Sat Nav (U18243)
posted 1 hour, 53 minutes ago
comment by bmcl1987 (U14177)
posted 49 seconds ago
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
----------------------------------------------------------------------
I think it was just Bombay sapphire tbh.
The head is killing me
----------------------------------------------------------------------
Did you “see” anyone btw?
comment by bmcl1987 (U14177)
posted 3 minutes ago
Interesting how the positioning of the tweet to trigger folk like ttliv above. This is proposed legislation on things like “gay conversion” courses predominantly supported by the religious right. What will be tricky for them to manage is to define the line between qualified and certified child psychologists and medical staff, as the current proposal appears to differentiate.
----------------------------------------------------------------------
Excellent story for the enraged culture war warriors.
comment by bmcl1987 (U14177)
posted 22 minutes ago
comment by Sat Nav (U18243)
posted 1 hour, 53 minutes ago
comment by bmcl1987 (U14177)
posted 49 seconds ago
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
----------------------------------------------------------------------
I think it was just Bombay sapphire tbh.
The head is killing me
----------------------------------------------------------------------
Did you “see” anyone btw?
----------------------------------------------------------------------
Eh?
Comment deleted by Site Moderator
Sign in if you want to comment
Arguing w/strangers cause I'm lonely thread
Page 1872 of 4860
1873 | 1874 | 1875 | 1876 | 1877
posted on 28/10/21
comment by Sat Nav (U18243)
posted 1 hour, 3 minutes ago
Subscribe
Britain
Oct 30th 2021 edition
Farewell to austerity
Rishi Sunak’s budget marks a turn to big-state Conservatism
British tax rates will rise to levels last seen in the 1950s
Oct 27th 2021
Who is rishi sunak? Listen to the chancellor’s recent rhetoric, and you could be forgiven for thinking he was cast in the mould of a predecessor, George Osborne, who slashed the state in response to the global financial crisis. In a speech to the Conservative Party faithful on October 4th Mr Sunak described borrowing as “immoral”, and emphasised his eagerness to restore order to the public finances. But the budget he delivered on October 27th confused the picture. Reeling off spending measures, he refused to apologise for raising taxes and lauded the spending they supported. “The Conservatives are the real party of public services,” he trilled.
Mr Sunak displayed rare munificence. Government departments will get real increases in their budget of 3% a year on average until 2024-25, an increase reminiscent of largesse last seen consistently in the 2000s. Even more eye-popping are the chancellor’s plans for the size of the post-pandemic state. According to forecasts by the Office for Budget Responsibility (obr), a watchdog, spending will grow from 39.8% of gdp before the pandemic to 41.6% by 2026-27, the highest sustained share since the 1970s. Tax will rise from 33.5% of gdp to 36.2%, a level not seen since the early 1950s. The announcements recalled not Mr Osborne, but a very different predecessor: Labour’s Gordon Brown.
The Brownite giveaway was prompted by a surprisingly perky economy. In March the obr projected gdp growth of 4.1% this year. Now, thanks to rosier employment figures, it predicts 6.5%. In the same period, medium-term damage expected from covid-19 has gone from a gloomy 3% of gdp to a cautious 2%. Part of this is simply the passage of time revealing that investment has performed better than expected. But Mr Sunak is also benefiting from his adroit handling of the pandemic, which limited the hit to corporate balance-sheets.
All of this means Britain is borrowing less than expected. People are earning more, which increases the tax take. And Mr Sunak has raised taxes. In September he announced a health and social care levy, which will bring in a net sum of £12bn ($16bn) by 2024-25, and increased dividend tax rates. This year has seen the biggest overall tax rise since 1993—which is not a message the Tories will put on leaflets at the next general election.
Mr Sunak did offer some red meat to Conservative members. There was relief for payers of business rates, a cut to corporate-tax rates for banks and the now traditional fuel-duty freeze (as has happened without fail for the past decade). But none of these will cost more than £2bn a year by 2024-25. Mr Sunak also announced new fiscal rules: there will be no borrowing for day-to-day spending in three years’ time and debt will fall as a share of gdp. On current plans, he will meet these targets, but he has left less margin for error than his predecessors did with their rules, which all went unmet.
By the next election, Mr Sunak plans to be using most of the windfall delivered by better economic growth to lower borrowing (or, perhaps, as a slush fund for tax cuts). But now, he is spending—and in particular to ease the pressure on public services brought about by the pandemic. The health department will see the biggest increase, because hospitals must deal with both covid and an enormous backlog, but most will have at least some sort of rise. This will begin to reverse the cuts applied by Mr Osborne (see chart).
Given how much of the budget was trailed before, some wondered whether anything would be left for the main event. But the chancellor managed a few surprises. Half the planned increase in departmental spending in 2024-25 will restore foreign aid to 0.7% of gdp, a target abandoned during the pandemic. A welcome simplification to the mess of alcohol taxation was seized on by Mr Sunak, a Brexiteer, as a benefit of leaving the eu (it would not have been possible as part of the bloc). Firms running retail, hospitality and leisure properties will enjoy a temporary cut to business rates, to help their post-pandemic recovery.
The most impressive rabbit Mr Sunak pulled out of his hat was an increase in the generosity of Universal Credit, a benefit for working-age people. He faced criticism in September for allowing a pandemic-related uplift to expire, which cost recipients £1,000 a year. Rather than reverse the cut, Mr Sunak reduced the rate at which the benefit is withdrawn as people earn more. The Resolution Foundation, a think-tank, was quick to point out that together with higher minimum-wage rates, the change would still leave the poorest fifth of households £280 a year worse off.But it does at least cushion the blow.
Critics complain that the outlook for households’ disposable income is still pretty dismal. Mr Sunak’s cursory treatment of climate change smacked of complacency—and the trove of documents released alongside his speech revealed little that would fulfil Britain’s bold climate-change ambitions. Given the number of global leaders about to descend on Glasgow to discuss the matter, it was slightly odd to announce a cut on short-haul flights taxes (and not to raise fuel duty).
Before the budget, there was lots of noise about the growing distance between Mr Sunak and the prime minister, Boris Johnson. There were even rumours that Mr Johnson would move the chancellor to a different, less prominent job, so perturbed was he by his rival’s star power. But the fiscal event revealed them to be aligned, at least as far as governing the country is concerned. Both are happy to spend big if circumstances call for it. Neither is a small-state ideologue. ■
----------------------------------------------------------------------
the proof on the big state I guess will be proven in how well the money gets spent.
call me cynical but I wouldn't be surprised if this amazing increase to spending (taking us to almost 2010 levels.. almost) is just a way to pump more money into private companies to enrich people.
posted on 28/10/21
Zachsda, I'll drop you an email tomorrow if that is cool?
posted on 28/10/21
comment by Samus (Isle of) Arran (U22669)
posted 15 minutes ago
comment by Sat Nav (U18243)
posted 1 hour, 3 minutes ago
Subscribe
Britain
Oct 30th 2021 edition
Farewell to austerity
Rishi Sunak’s budget marks a turn to big-state Conservatism
British tax rates will rise to levels last seen in the 1950s
Oct 27th 2021
Who is rishi sunak? Listen to the chancellor’s recent rhetoric, and you could be forgiven for thinking he was cast in the mould of a predecessor, George Osborne, who slashed the state in response to the global financial crisis. In a speech to the Conservative Party faithful on October 4th Mr Sunak described borrowing as “immoral”, and emphasised his eagerness to restore order to the public finances. But the budget he delivered on October 27th confused the picture. Reeling off spending measures, he refused to apologise for raising taxes and lauded the spending they supported. “The Conservatives are the real party of public services,” he trilled.
Mr Sunak displayed rare munificence. Government departments will get real increases in their budget of 3% a year on average until 2024-25, an increase reminiscent of largesse last seen consistently in the 2000s. Even more eye-popping are the chancellor’s plans for the size of the post-pandemic state. According to forecasts by the Office for Budget Responsibility (obr), a watchdog, spending will grow from 39.8% of gdp before the pandemic to 41.6% by 2026-27, the highest sustained share since the 1970s. Tax will rise from 33.5% of gdp to 36.2%, a level not seen since the early 1950s. The announcements recalled not Mr Osborne, but a very different predecessor: Labour’s Gordon Brown.
The Brownite giveaway was prompted by a surprisingly perky economy. In March the obr projected gdp growth of 4.1% this year. Now, thanks to rosier employment figures, it predicts 6.5%. In the same period, medium-term damage expected from covid-19 has gone from a gloomy 3% of gdp to a cautious 2%. Part of this is simply the passage of time revealing that investment has performed better than expected. But Mr Sunak is also benefiting from his adroit handling of the pandemic, which limited the hit to corporate balance-sheets.
All of this means Britain is borrowing less than expected. People are earning more, which increases the tax take. And Mr Sunak has raised taxes. In September he announced a health and social care levy, which will bring in a net sum of £12bn ($16bn) by 2024-25, and increased dividend tax rates. This year has seen the biggest overall tax rise since 1993—which is not a message the Tories will put on leaflets at the next general election.
Mr Sunak did offer some red meat to Conservative members. There was relief for payers of business rates, a cut to corporate-tax rates for banks and the now traditional fuel-duty freeze (as has happened without fail for the past decade). But none of these will cost more than £2bn a year by 2024-25. Mr Sunak also announced new fiscal rules: there will be no borrowing for day-to-day spending in three years’ time and debt will fall as a share of gdp. On current plans, he will meet these targets, but he has left less margin for error than his predecessors did with their rules, which all went unmet.
By the next election, Mr Sunak plans to be using most of the windfall delivered by better economic growth to lower borrowing (or, perhaps, as a slush fund for tax cuts). But now, he is spending—and in particular to ease the pressure on public services brought about by the pandemic. The health department will see the biggest increase, because hospitals must deal with both covid and an enormous backlog, but most will have at least some sort of rise. This will begin to reverse the cuts applied by Mr Osborne (see chart).
Given how much of the budget was trailed before, some wondered whether anything would be left for the main event. But the chancellor managed a few surprises. Half the planned increase in departmental spending in 2024-25 will restore foreign aid to 0.7% of gdp, a target abandoned during the pandemic. A welcome simplification to the mess of alcohol taxation was seized on by Mr Sunak, a Brexiteer, as a benefit of leaving the eu (it would not have been possible as part of the bloc). Firms running retail, hospitality and leisure properties will enjoy a temporary cut to business rates, to help their post-pandemic recovery.
The most impressive rabbit Mr Sunak pulled out of his hat was an increase in the generosity of Universal Credit, a benefit for working-age people. He faced criticism in September for allowing a pandemic-related uplift to expire, which cost recipients £1,000 a year. Rather than reverse the cut, Mr Sunak reduced the rate at which the benefit is withdrawn as people earn more. The Resolution Foundation, a think-tank, was quick to point out that together with higher minimum-wage rates, the change would still leave the poorest fifth of households £280 a year worse off.But it does at least cushion the blow.
Critics complain that the outlook for households’ disposable income is still pretty dismal. Mr Sunak’s cursory treatment of climate change smacked of complacency—and the trove of documents released alongside his speech revealed little that would fulfil Britain’s bold climate-change ambitions. Given the number of global leaders about to descend on Glasgow to discuss the matter, it was slightly odd to announce a cut on short-haul flights taxes (and not to raise fuel duty).
Before the budget, there was lots of noise about the growing distance between Mr Sunak and the prime minister, Boris Johnson. There were even rumours that Mr Johnson would move the chancellor to a different, less prominent job, so perturbed was he by his rival’s star power. But the fiscal event revealed them to be aligned, at least as far as governing the country is concerned. Both are happy to spend big if circumstances call for it. Neither is a small-state ideologue. ■
----------------------------------------------------------------------
the proof on the big state I guess will be proven in how well the money gets spent.
call me cynical but I wouldn't be surprised if this amazing increase to spending (taking us to almost 2010 levels.. almost) is just a way to pump more money into private companies to enrich people.
----------------------------------------------------------------------
You might be right, time will tell but I do think this lot are spenders compared to the Osborne era or big state compared to 80s era
posted on 28/10/21
comment by Thorgen Kloppinson - I got 5 on it. (U1282)
posted 1 hour, 36 minutes ago
comment by PawlBawron (U1055)
posted 2 hours, 11 minutes ago
comment by CrouchEndGooner (U13531)
posted 2 hours, 10 minutes ago
NEW: Further arrests and one man charged following threats made to Angela Rayner. This follows an
initial arrest yesterday.
One man charged and two arrested following reports of malicious communications | Greater Manchester Police https://t.co/cvlc8hfU60
PaulBawron not been on for a few days 🤔
----------------------------------------------------------------------
Hello fella, half term and I've had fatherly duties to attend to.
I'm no fan of cowardly keyboard bullies but when you call millions of people skum l'm afraid in this day and age you are going to get a backlash.
----------------------------------------------------------------------
The world has gone crazy. PC gone mad millions of people crying over being called skum.
----------------------------------------------------------------------
https://www.mirror.co.uk/news/politics/angela-rayner-apologises-unreservedly-tory-25322075
posted on 28/10/21
comment by CrouchEndGooner (U13531)
posted 1 hour, 6 minutes ago
comment by Thorgen Kloppinson - I got 5 on it. (U1282)
posted 1 hour, 36 minutes ago
comment by PawlBawron (U1055)
posted 2 hours, 11 minutes ago
comment by CrouchEndGooner (U13531)
posted 2 hours, 10 minutes ago
NEW: Further arrests and one man charged following threats made to Angela Rayner. This follows an
initial arrest yesterday.
One man charged and two arrested following reports of malicious communications | Greater Manchester Police https://t.co/cvlc8hfU60
PaulBawron not been on for a few days 🤔
----------------------------------------------------------------------
Hello fella, half term and I've had fatherly duties to attend to.
I'm no fan of cowardly keyboard bullies but when you call millions of people skum l'm afraid in this day and age you are going to get a backlash.
----------------------------------------------------------------------
The world has gone crazy. PC gone mad millions of people crying over being called skum.
----------------------------------------------------------------------
https://www.mirror.co.uk/news/politics/angela-rayner-apologises-unreservedly-tory-25322075
----------------------------------------------------------------------
Quite right too, I'm guessing Starmer told her to do it before she returned to Westninster or the back benches were calling.
posted on 28/10/21
🚨 | NEW: A professor has quit the University of Sussex after being targeted by student activists over her views on transgender people after she said 'she doesn't believe people can change their biological $ex'
Via @thetimes
posted on 29/10/21
Boys Mayfair is haliaeouisu tonight
posted on 29/10/21
comment by CrouchEndGooner (U13531)
posted 9 hours, 49 minutes ago
comment by Thorgen Kloppinson - I got 5 on it. (U1282)
posted 1 hour, 36 minutes ago
comment by PawlBawron (U1055)
posted 2 hours, 11 minutes ago
comment by CrouchEndGooner (U13531)
posted 2 hours, 10 minutes ago
NEW: Further arrests and one man charged following threats made to Angela Rayner. This follows an
initial arrest yesterday.
One man charged and two arrested following reports of malicious communications | Greater Manchester Police https://t.co/cvlc8hfU60
PaulBawron not been on for a few days 🤔
----------------------------------------------------------------------
Hello fella, half term and I've had fatherly duties to attend to.
I'm no fan of cowardly keyboard bullies but when you call millions of people skum l'm afraid in this day and age you are going to get a backlash.
----------------------------------------------------------------------
The world has gone crazy. PC gone mad millions of people crying over being called skum.
----------------------------------------------------------------------
https://www.mirror.co.uk/news/politics/angela-rayner-apologises-unreservedly-tory-25322075
----------------------------------------------------------------------
This is maaaad!
Basically forced to apologise by woke mugs. What is the world coming to?
posted on 29/10/21
comment by De Gea's Legs (U14210)
posted 8 hours, 9 minutes ago
🚨 | NEW: A professor has quit the University of Sussex after being targeted by student activists over her views on transgender people after she said 'she doesn't believe people can change their biological $ex'
Via @thetimes
----------------------------------------------------------------------
Hmmmm.
'The academic has been REPEATEDLY accused of alleged transphobia over the past month for her views on gender identity, with a group of students actively campaigning for her to be fired.
The university has "unequivocally" defended Prof Stock and her "right to exercise her academic freedom and lawful freedom of speech".
"We had hoped that Professor Stock would feel able to return to work, and we would have supported her to do so.
"She has decided that recent events have meant that this will not be possible, and we respect and understand that decision.
In a series of tweets Prof Stock expressed her sadness at leaving and said IT HAD BEEN A DIFFICULT FEW YEARS.
posted on 29/10/21
I don't think that tweet does justice to the actual situation
Seems she didn't quit because of being targeted by protesting students. It was more like the last straw, or the one that broke the camel's back.
This tweet will get clicks and its designed to do so, but ignoring that it smells like fuel for culture wars.
posted on 29/10/21
comment by Sat Nav (U18243)
posted 5 hours, 16 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Eh?
Must be the juice.
posted on 29/10/21
You can't supply facts when limited to 140 characters.
Good instance where the dangers of social media can be seen. Social media should be for chatting with friends and getting girls, and not a source of factual info. Always double check anything you see on social media.
posted on 29/10/21
Most headlines are aimed at stocking up a 'culture war' these days. People love to be angry.
posted on 29/10/21
Comment deleted by Site Moderator
posted on 29/10/21
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
posted on 29/10/21
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
posted on 29/10/21
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
posted on 29/10/21
comment by bmcl1987 (U14177)
posted 49 seconds ago
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
----------------------------------------------------------------------
I think it was just Bombay sapphire tbh.
The head is killing me
posted on 29/10/21
Solpadeine.
Plink plink fizz.
posted on 29/10/21
Comment deleted by Site Moderator
posted on 29/10/21
Interesting how the positioning of the tweet to trigger folk like ttliv above. This is proposed legislation on things like “gay conversion” courses predominantly supported by the religious right. What will be tricky for them to manage is to define the line between qualified and certified child psychologists and medical staff, as the current proposal appears to differentiate.
posted on 29/10/21
comment by Sat Nav (U18243)
posted 1 hour, 53 minutes ago
comment by bmcl1987 (U14177)
posted 49 seconds ago
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
----------------------------------------------------------------------
I think it was just Bombay sapphire tbh.
The head is killing me
----------------------------------------------------------------------
Did you “see” anyone btw?
posted on 29/10/21
comment by bmcl1987 (U14177)
posted 3 minutes ago
Interesting how the positioning of the tweet to trigger folk like ttliv above. This is proposed legislation on things like “gay conversion” courses predominantly supported by the religious right. What will be tricky for them to manage is to define the line between qualified and certified child psychologists and medical staff, as the current proposal appears to differentiate.
----------------------------------------------------------------------
Excellent story for the enraged culture war warriors.
posted on 29/10/21
comment by bmcl1987 (U14177)
posted 22 minutes ago
comment by Sat Nav (U18243)
posted 1 hour, 53 minutes ago
comment by bmcl1987 (U14177)
posted 49 seconds ago
comment by Sat Nav (U18243)
posted 6 minutes ago
comment by bmcl1987 (U14177)
posted 14 minutes ago
comment by Sat Nav (U18243)
posted 6 hours, 42 minutes ago
Boys Mayfair is haliaeouisu tonight
----------------------------------------------------------------------
Table at mahiki was it? Or did you just nip across the road 😜
----------------------------------------------------------------------
🤢 Loulou’s
G&Ts
----------------------------------------------------------------------
Nice!!!! I remember those days; Thursday being the new Friday …. then Tuesday became the new Thursday and Monday the new Tuesday
Botanist and fever-tree I presume on the G&T front; you seem like the classy sort of chap to pick correctly 😃
----------------------------------------------------------------------
I think it was just Bombay sapphire tbh.
The head is killing me
----------------------------------------------------------------------
Did you “see” anyone btw?
----------------------------------------------------------------------
Eh?
posted on 29/10/21
Comment deleted by Site Moderator
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