Income tax - top 45% rate scrapped! Bonkers!

[HoppingKangaroo]

The 45% top rate of tax (which currently applies on earnings above £150,000) will be scrapped entirely. How will this help the economy? It will just add to the government debt and it just helps out the very weathly.
Why not have more help for the poorest in the country and not have tax cuts for the very wealthy.

Oh look another stereotype.

It’s a wonder then why you don’t do one of these higher paying jobs yourself.

Just think of all the good that you could do if you did.

The sheer number of threads on MN attacking Corbyn - and now look where we are. You’ve only got yourselves to blame.

Why the fuck would they ever work if 'every basic need is met'?

So you think it's OK for basic needs not to be met in one of the richest countries in the world? We are not talking about Sky TV here by the way. We are talking about basic needs.

Are you OK with children not having their basic needs met if their parents aren't earning enough? What about people with disabilities? What about unpaid carers?

If you just don't care, fair enough. You have a right not to care.

Yes, I do @Kissingfrogs25. I worked and saved for 43 years to ensure I can support myself. This will blow your mind, I’m a taxpayer too.

So you really believe business will want to base itself in a country with a national debt the size of ours and a falling currency? If so, you really are completely clueless.

Everyone else is throwing out their anecdata - why shouldn’t I?

"All of has been planned for some time, we need to deliver now."

Interesting turn of phrase.
Who has planned this? For how long? Why didn't they want an OBR forecast? Who is we?

I am going out now

Interesting.
Early finish tonight. The normal finish time on the Boris threads was 9pm.

Sorry - this was directed to @Kissingfrogs25

Shhhh don't ruin the frothing for them

Tbf you have dedicated so much more of your important time than anyone to this thread trying to justify your worth so who really are the ones screeching?

I suspect you protest so much as your contribution to society is so little for so much reward and it makes one a bit defensive. 🤷‍♀️

The ERG like to think they are so much cleverer than the rest of us that they have planned this car crash all along.

I’m glad the pound is plummeting. At least it might make the fools in power rethink this idiotic policy.

Just pull yourself up by your bootstraps, and next time make sure you pop out of the right womb.

It's amazing the resentment towards the City of London, it contributes billions to this country and is our greatest success story. Yet everyone moans about how unfair it is that people in the City earn so much. Don't moan get an education and apply for a job there and see how well you do. The City has some of the best brains in the world working there which is why they earn what they do. We should be thankful we have one of the leading financial centres in our country.

We have a lot of our savings in a foreign currency account, so it'll be quids in for us!

But yes, I too hope that it makes them rethink. Might be a bit awkward to do a u-turn now though!

He hasn’t. He opened a fund there which mainly invests in European securities.

This was yet another lie put out by the left.

Does anyone but me find it weird that no one defending today’s mini- budget is willing to address the reaction of the international markets or the fall of the pound?

It is possible that those who have had an education, can see the City of London for what it is - a massive drain on the world's resources that destabilises the world by the gambling that it is built on. Why would anyone with any morals want to work there?

They’re masters of the U turn.

I'm glad we agree that Rees Mogg has moved some of his gambling business to Ireland. Why couldn't he just invest in European securities from Somerset?

I presume that the reaction of the international markets was part of the purpose of the budget.

"Shhhh don't ruin the frothing for them"

Brown levels of tax, not quite the same on borrowing (but borrowing of course is so cheap at the moment)

"In 2007 Kwarteng criticised Gordon Brown, in @newstatesman, for increasing borrowing by £8bn: "Brown boasts of his relationship with Prudence, but is not embarrassed by increased government borrowing."

Today Kwarteng increased borrowing by… 9x as much. newstatesman.com/long-reads/200…"

Great. An industry that contributes nothing of any actual value to society, that produces nothing real, can move at a moments notice to any other country in the world and exists purely to make rich people even richer. I’m certainly proud and glad we put all of our eggs in that particular basket.

I don't resent the city in the slightest. I have friends and family who work in the city. They work very hard, but most of them agree that their salaries are massively overinflated for what they do - they know that they are not "worth" more than people in many other professions. On the other hand, they're more than happy to enjoy the rewards that they get for the work that they've chosen, and why on earth shouldn't they? That's what their employers are willing to pay.

I absolutely recognise the huge contribution that the city makes to our economy, and indeed the contribution that individuals who work in that sector make through their taxes. I simply believe that they should carry on making that contribution.