@ProfByron Hey @ProfByron, if referencing Aussie supermarkets, surely the point isn’t just profits but is this unhealthy market concentration leading to an ability to extract supernormal profits - ie your bad sort. They seem to be displaying all the characteristics of a problem.
@JEChalmers If someone with $3M in their super achieved the average return of @AustralianSuper they would have received $92K in tax concessions each year. That's a tax break alone that's more than the average Australian earns in a year (c.$70K). Surely that's not fair or sustainable?
@JEChalmers It's difficult to feel like this group need the average tax payer to fund the existing additional $2bn annual tax break (as NAB's Ross McEwan put it, "$3M is an awful lot of money to have in a super fund")
@centrist_phone @Peston Totally agree with journalist point. Tax burden in UK @32.8% was just below OECD ave (33.5%) in 2020 - so high vs UK history, but not by international standards. And France at 45.4% grew at c.same rate as UK last 20 yrs. Can't look at that data and conclude lower taxes = growth.
@PatristicFields @centrist_phone @Peston 35% is high vs UK history, but OECD 2020 ave was c.33.5%. UK 2020 @ 32.8% is lower than all European countries (who grow way faster than UK) bar Latvians, Lithianians, Swiss & Irish. Kinda screws up 'growth comes from lower taxation' argument (or OECD data = #antigrowthcoalition)
It's a strange world where the @IMFNews is warning of recession while central banks are rapidly rising interest rates. Are we sure we're doing this right?
https://t.co/YTC4DkTyhL
@nickparker@saintlymark 'A rose by any other name...' and all that, but like your suggestion around the idea of 'Contribution'. Drop the 'social' and connect it to what people actually want more of so 'Services contribution'. Or get more specific on the positives, with 'NHS and services contribution'
It's naive to think horse-trading doesn't happen, but FFS we're still talking about a tax payer-funded, consequential job being handed out as a bribe. "I urge Kemi to stand down in return for a serious job in a Truss administration.” #ToryLeadershipRace https://t.co/1DHElakoKe
@SenWarren Given voters desire to counterbalance who they put in power, wonder if 'the Republicans have taken control of the #SupremeCourt, dismantled Roe and sensible gun control - imagine what will happen if they win Congress/the Senate too' might be a powerful strategy for #MidTerms
Even if there's nothing actually untoward here, it just smells bad and undermines public confidence - surely there's a public interest in a sensible rule around ex-MP's being excluded from public service roles for a time period - like 2 years #integrity
https://t.co/jWMLJoN9es
Brilliant, witty response @MargaretAtwood and @penguinrandom #HandmaidsTail Atwood responds to book bans with ‘unburnable’ edition of Handmaid’s Tale https://t.co/nuLNpQX2aq