🚨 | Margaret Thatcher - ‘The state has no source of money other than the money that people earn themselves.
There is no such thing as public money there is only taxpayers money’
💥 1st female Prime Minister understood public finances, the 1st female Chancellor does not.
💷 Rachel Reeves is robbing the public blind through taxation.
💡 Remember there is no public sector without the tax from the private sector.
🧨 The Labour Party are doing their best to ruin the private sector.
Next week the UK budget will be handed down.
The government has already said they’ve run out of money and need to find some more. But they have limited options.
All eyes are on the way they tax entrepreneurs and businesses. Arguably the engine of growth in the UK.
Already 1% of people pay 29% of income tax - And 10% pay 60%!
Already the Government spending is 45% of the economy (🤮 🤦♂️). Already the UK has 500,000 civil servants! Already 10,000 millionaires have exited the UK. It could be a total disaster to take this insanity further.
I believe, based on evidence and sound theory, that there comes a point where higher tax rates collects LESS in tax revenue. The higher rates reduce ambition or makes people leave. Every business owner knows that putting prices up too high without offering great value will decimate revenues.
I also believe Governments have a propensity to grow too large. Literally no one in government is incentivised to find game changing efficiency, slash pointless jobs and deliver outcomes with lower overheads. None of them are thinking from first principles about how to solve problems in new ways. The government is Kodak, still producing camera film in an age of digital cameras. They are Blockbuster, still trying to rent VCRs in the age of Netflix.
You’ll never see them even suggest that they are bloated, incompetent, inefficient or behind. You’ll only hear them say they need more money from hard working, ambitious, risk takers and innovators.
They tax you for earning it. They tax you for spending it. They tax you for investing it. They tax you for leaving it to your kids. Eventually plenty of smart people get fed up and walk away from this game. We are certainly at that point.
@td_evans@DanielPriestley@keirstarmer It certainly played a part in my reasons for setting up my second business. So I don’t think you can say that categorically.
Richard Dawkins’ argument against women having babies with Down’s Syndrome is nothing more than eugenics - The Independent. Sorry Richard you got that one wrong. https://t.co/KeeAIbI1Mb
@HMRCgovuk my wife is unable to get into the self assessment site to do her tax return. Put in Gov Gateway user id and password then gets sent a code via text but then when inputting code just loops back to user id and pword. Very frustrating
@thisisgrace Some great rides in South Downs near by. It’s literally just down the road from me. If you are ever down this way, I will gladly show you.