Yes they are. No one models this stuff. No one models the incentives structure.
Take the mass capital flight, the small business owners, the HENRYs (high earners not rich yet) now even normal upper mid range PAYE earners are looking to Dubai and elsewhere to avoid paying crippling amounts of tax to a system ridden with runaway welfare socialism and Baumol’s cost disease compounding the misery. They will get a nasty tax receipt shortfall in Q1 and a gilt crisis will follow.
I already know no one in Whitehall is thinking about this, and - BIGGER PICTURE - they sure as shit aren’t thinking about how UK is locking itself - unwittingly - out of the automation revolution through shit policies in virtually every area. It’s all so tiresome.
We are governed by the least competent people alive - the vast majority of whom would never command the salaries they enjoy in the public sector, if they had to suffer the brutal feedback loops and finite balance sheets of private enterprise. They fail upward. They hire their mates. End of the day, they fall into two camps:
1/ Morons
2/ Fabian saboteurs
I typically ascribe to Hanlon’s razor on such matters, but am increasingly unsure…
The min wage in large parts of the country is already >75% local median pay. That means nearly half of all jobs in the labour market pay basically the same, within a few £s p/hour. Incentives do not function. Labour markets cannot clear. It is disastrous. https://t.co/yYzLSm8OcM
This is why the Left has switched to *relative* poverty and "inequality". Neither of which can be resolved, so they'll always have something to complain about.
Genius.
@SimonTuffen@FUDdaily Offering something that isn’t available online. People are often happy to pay a premium for niche, boutique, independent products and services. Clustering makes a journey worth making. Councils could help by not actively discouraging car travel, and taxing small businesses.
@Vistrix@MartinSLewis If that’s what you want to spend your life doing, that’s up to you. Good luck to you. This guy has a national platform where he could be encouraging people more positively than this.
Torpenhow Hill, England
When the Saxons arrived and asked the locals what that hill was called, the Welsh replied, “Pen,” which simply means hill in Welsh.
The Saxons, apparently not spotting they’d already been given the full answer, added their own word for hill: tor. So it became Torpen - literally Hill Hill.
A few centuries later, the Norse turned up and repeated the exercise, adding haugr, their word for hill. Now it was effectively Torpenhaugr - Hill Hill Hill.
Then the English arrived, looked at the whole thing, shrugged, and added “Hill” on the end for good measure.
Thus we ended up with Torpenhow Hill:
Hill Hill Hill Hill.
It’s comforting to know that for over a thousand years, successive generations have been independently deciding that the previous lot hadn’t made it quite clear enough that it was, in fact, a hill.
Language is magnificent.
Humans… less so.🤷🏻♂️🤣
This is what happens when you have a messiah complex and have spent years cutting ribbons.
Is he going allow local areas to set their own corporation tax?
Is he going to allow them to drill into the North Sea and scrap net zero subsidies?
Will he let them have their own borders so only high earners can live and invest there?
Local governments cannot fix the country.
This is going to be a monumental waste of time and money that will make the public lose even more faith in politics.
In the past 25 years, Britain's pay differentials have collapsed. Everyone's earnings are bunched together within a smaller band. The top 10% now earn only three times as much as the bottom 10%. A quarter of the population earns within 10% of the minimum wage.
'A pathetic, unpatriotic, weak, unprincipled, empty husk of a man... Goodbye, good riddance. History will remember you terribly!'
@PatrickChristys gives an exhaustive list of all of Keir Starmer's failings as Prime Minister, describing a 'constant tidal wave of scandal'.