AIBU to want spending cuts rather than more tax rises?

You keep bringing up "people wanting hand outs", can you specify who you mean.

My private pension is a SIPP, and it owns 4,500 sq ft of industrial space on a business park in Cornwall. We bought it almost 20 years ago. Our tenant pays £3,500 per month, because it works for them.

Agreed, its frightening how few posters, all of them deemed intelligent enough to vote, seem to grasp this concept

People who get more in state services (which cost £10k per person per year) and state benefits than they pay in tax.

They are dependent on taxes paid by other people - and by companies they are not contributing to as employees - to fund their life.

They depend on our economy (which means businesses) to subsidise them - because they are paying so little of their own costs.

If you have no pension and expect to rely on the state in your old age, you should really want our economy to work.

Yep, the level of economic ignorance is jaw dropping, yet people passionately declare the policies they want to see

So fun fact 52% of welfare spending goes to pensioners.
I'm not banking on getting any kind of state pension because I recognise how insanely unsustainable that is.
Maybe we stop giving out money to the demographic that are 25% millionaires?
If that doesn't free up enough money, maybe we just cut the £87billion we handcout each year corporare welfare and let the good businesses raise to the top.

Because for a financial services firm the entire product is liquidity.

Their job is to take money from a pension fund in Japan, match it with an infrastructure project in Brazil, and clear the transaction through London.

Yes, if their business is financial trading, the trading accounts need to remain liquid, I accept that... but not all of them are, and the profits made can be seen as a tangible amount and regulated.

I think for the amount of NI credits you've paid in you kinda deserve that money back. Maybe lump sum it, cut deeply for a few years but get out of this Ponzi scheme and have people save up for their retirement. Build your own nest egg. Continue working if you can. Even do something small like being a librarian.

I literally have no clue what you mean here whatsoever. The fact is exit capital controls would ruin our financial services sector

So a public service worker? Paying a pension?

I said there should be reulations and penalties on moving income gained from the UK economy outside of the UK.
I didn't say it had to be done in real time. That's a point you inserted to justify not doing it.

They should get rid of the concept of "credits", it's not a saving scheme, your payments are just going into the public spending pot.
Infact do away with NI altogther and just call it what it is, a tax.

You don't seem to understand economics very much do you. How would you implement this?

You do realise this would hurt the economy?
You're also just being very vague and not making any clear points. Probably because you're chatting shit.

The issue is that UK is obsessed with equality and redistribution, not prosperity.
It doesn't matter how poor we are as long as the neighbor doesn't get it better.

If we wanted to prosper we'd stimulate growth and celebrate successes.

IHT as an example - we have the worlds 2nd or 3rd highest IHT rate. A lot of countries with excellent welfare system abolished IHT many years ago, most of Scandi included. Yet IHT hits the same group of middle class who have nowhere to hide. The truly rich ones have mechanism to avoid it, e.g. Duke of Grosvenor. Some wealthier but not uber rich move abroad.

Some years ago Andy proposed to abolish IHT and replace it with 10% social care levy on all estates with no threshold. This is excellent idea - by widening tax base you get much more in receipt, but 10% is low enough for wealthy to decide to move or take some estate planning measures. So tax receipts could easily double if not more and the same hit group wouldn't feel so resentful. But hey, the richer will get more, so this will never happen.

There's always one on these threads. Might have known it'd be you. 🙄

Awww did I point out the obvious strawman you were clinging to? 🤣
You track it the same way we track all other business and individual income.

And then people should just live of private pensions, savings and investments they've made?

Yes.

Well you don't seem to understand the way the modern economy and international businesses operate. But that's okay, not everyone has the level of intelligence to truly comprehend these things.

I'd vote for you@PinkFruitbat.

Why would you believe anything the Tories say? They are to blame for the situation we're in. Have forgotten the billions they paid their corrupt cronies during Covid? The huge deficit caused by Truss? And that many of the problems and social ills we face today have their roots in Thatcher's years in power? Where should the cuts in welfare spending be made? And, by the way, how much do you think the war with Iran Badenoch was in favour of would have cost? But, by all means, troll out the usual, let's hit the lazy, unemployed, disabled and homeless. They're really living the high life.

Foreign aid, immigration handouts, benefits in general, we should introduce a flat income tax rate of 20% on all benefits, people use them as an income so should be taxed accordingly. Lots of savings to be had if the desire is there.

You've confused that. It isn't that the poor need to be in the workhouse. It is the poor need to be in work. Only Lefties don't get that if you're poor and you work you get money that makes you less poor.