Labour isn't Working - Thread 42

[Nuthatch26]

A chat thread for those who don't like this Labour government. 💙☕️

We're gearing up for the Burnham budget. 😬

The problem with socialism is that you eventually run out of other people's money.

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What's really unearned an excellent caller on LBC just now said huge companies are buying rental properties and they are not as human as small landlords.
She said she has other business and said tax my profits .

@QuiteUnbelievable there is a theory that government prefer for corporate to handle housing as it leads to more stability in their opinion. And I think more stability in terms of tax collection. I think it’s a great shame. It’s obviously a big shift from the time it was encouraged to have investment property. I accept the times change but I would much rather be dealing with a landlord who had a face so to speak, than a corporation.

Reeves’ first budget lost 60,000 jobs in hospitality. How that helped young people idk. Half the number of people working in that sector is under 25.

Pub group guy on Times radio saying not a great picture, a few things in budget outweighed by higher costs.

Rachel Reeves brilliant idea to force people to invest in S&S ISA’s dropped.

Thinking of all the banks and financial services companies who had to spend hours in meetings with the Treasury, then coming back to base and having to involve people across the entire organisation to plan how to implement the change - then cancelled.

Shame they can’t invoice the Treasury for all the wasted time…and then the Bank levy on top. They are probably breathing a bit of a sigh of relief though that it’s temporary (at the moment).

It was just a totally stupid idea. It was a complete “stick” approach. Investment companies are very good already at packaging up products to appeal to low risk, new investors. I’m with Hargreaves Lansdown and they’ve got loads of stuff around ready made SIPPs etc where you can just choose your risk profile etc.

Just leave things to people who know what they are doing…..

If people prefer to keep their savings in cash they should be free to do that.

savings tax rates up. So roughly if you have about £30k in savings outside of an ISA, given interest rates at the moment, you are going to be over the personal savings allowance. Interest received over that taxed at 24% for basic rate tax payers. And now 44% for higher rate taxpayers and they only get a £500 allowance.

one has to start to question whether we are now reaching the point where people think what is the point in doing the “right” things. Certainly once you are in the higher rate tax bracket.

@CandidLurker yes…lots of people on here at the time, defending it and saying that people “should” invest in shares. We can all be our own judge, surely.

Anyway, moving onto the savings tax, that might be their idea of encouraging a shift to spending… in reality if anyone’s got children, I think it will encourage a shift to giving it to them.

but in the game of “ who can we tax” ….who knows?

Kemi still of the belief that Burnham will call a GE and this budget was partially forecast with that in mind?

I don’t there will be an early GE. Obviously I could be surprised but just listening to a few interviews etc I don’t think so. Maybe in a year or a bit more.

One caveat, how the French elections go. But that’s a wild card in all this, so not much to do but wait and see.

Bought my poppy yesterday, perhaps I should have tried this?

That's going to be a popcorn moment with the French elections.

It just encourages people to drop hours at work, not do overtime etc.

I think I've said before my partner is a paramedic and never does any overtime. Whats the point, unsociable shifts, difficult and stressful work and lose 50% of the pay.

On the whole can we tax next for benefits we’ve had

farmers
pubs
small businesses
schools
now on to
banks
landlords
savers

I may have forgotten some, who will be next I wonder

“Sickness and disability benefits bill to hit £100bn a year by 2030"

But £1 quid off bus fares, cheaper imported gherkins and £100 bung to poor people.

We are truly governed by fools (other nouns are available).

How about Machiavellian planners?

That budget is nothing more than a blatant attempt to woo the benefits brigade to vote Labour at the next GE, whenever it occurs.

It's the "Labour way" alright.🤬

Indeed. I am very much looking forward to hearing the wails from this side of the Channel should Le Pen be elected.

But I thought Healy vowed to bring the bill down by the next election?

Kemi made an excellent joke about the housing secretary stockpiling Sauvignon, you have to laugh the IFS feedback on the challenges of the next 10 years is scary stuff.

The difference between doing and saying is particularly true of politicians in all parties, but more so of Labour - as has been demonstrated in the past two years.

I think you’re right, which is why I subscribe to Burnham rolling the dice on an early GE.

Even he’s not stupid enough to recognise he lacks a mandate for some of the shit he wants to do, surely?

He's far from stupid. Stupidity is personified by those who've been lulled into a false sense of security by his northern burr and (arguably) fluttering eyelashes.

@Electra10E ”£100 bung to poor people.”

I don’t think of myself as poor…. Maybe I should 😂

Maybe we should have a little gamble on an election. I think I’m slightly erring towards him going for it. Maybe in Spring next year.

I think he will go for an early election. The micro budget paves the way for it.

Agree.