He’s has no clue. Salary and capital are not the same thing. Wages are earned. Capital is risked.
A capital gain is the reward for years of risk and delayed return. If the investment fails, the entrepreneur or investor absorbs the loss. Rewarding risk leads to growth. This madness doesn’t.
Keir Starmer should rip up Ed Miliband’s “unnecessary” net zero agenda, Tony Blair tells #TimesRadio.
“It’s not that I'm a climate denier, but it's just coming to terms with this reality.”
@CalumAM
Can’t make this up. VAT on school fees 20%, but attractions 5%.
What utter morons - they’d rather we’re all poorer than allow private sector education to succeed whilst bunging us all a bonus for a day out!
I couldn’t have more contempt for this Government!
US - let's take bottom % out of income tax.
UK - let's raise capital gains tax, and take less tax.
I wonder what planet these people live on. From the point of aspirations and goals, raising taxes is just pure failure, zero ambition and lazy. Grow the economy FFS! Incentives drive everything.
Inflate the money supply, run up huge deficits, PUMP assets and tax you at 40% on exit! The kicker… it will generate less tax receipts! This is an attack on entrepreneurs across the U.K. MORONS
Witless Wes Streeting wants to hike capital gains tax to income tax levels apparently not realizing that this would result in a large drop in tax receipts.
HMRC's own calculations suggest that such an increase would lower tax receipts by over £10bn over the next 2 tax years.
All the British & international evidence shows that when CGT rates are high, people don't sell assets. Any idiot could figure that out, except it seems idiots like Streeting and Burnham running for the leadership of the Labour Party.
They want to build a datacentre in Surrey. We don't need them. Build them in China like the factories. I don't know a single person who uses a datacentre. Everyone's got Facebook on their phone now. If you don't have one there's a computer at our local library. Enough.
I could write a book on neurodivergent children. I could write an even longer book on the inadequacy of the NHS, how girls are being overlooked, how hyperactive presentation trumps resources. How after 2 years waiting for an NHS diagnosis you are told to ring an 0800 number for mental heath and ‘self refer’. Not a single consultant has met my daughter face to face after 2 years!
How labour solve problems ‘we need to nationalise water, transport and energy.’ ‘We should rejoin the EU’. The cost of nationalisation will be colossal the new sectors of the state will cry every year for more funding. Rejoining the EU ignores 17 million people who voted out. EU is the compliance state, the advantage is being out of it and capitalising on being out of it.
I hope Reform obliterate Burnham it will send a clear message. With any luck an election. The silver bullets - reduce the tax burden and reduce public spending.