The Brexit Arms. A friendly place for anyone wanting to chat about Brexit.

[surferjet]

Pull up a chair and relax.....

Fine. Enjoy shouting from the rooftops as per your democratic rights. But, shouting at the locals who are just getting on with the lives they are perfectly happy with, is not going to go down well. Don't be shocked if they don't want to engage with angry protesters.

As was said before, the brickies in Stoke are perfectly happy being brickies in Stoke - they don't need tearful Remainers draped in an eu flag screeching in their faces.

Been eavesdropping on Davos this morning.

"Vice-President Joe Biden has this message on tax for the (well-off) delegates in Davos.

"I said to to a group of folks like you last night, the top 1% is not carrying their weight. You are not bad buys, you are all good guys."

He points out that tax breaks on inheritance cost the US $17bn a year, without generating any extra investment or productivity.

He says that paying for every single US student to go to college would only cost $6bn a year - and generate a lot more for the economy."

I wonder what the comparative figures are for the UK? Why are the LibDems still prioritising EU membership over investing in the future generation of the UK?

As was said before, the brickies in Stoke are perfectly happy being brickies in Stoke - they don't need tearful Remainers draped in an eu flag screeching in their faces.

A bit patronising no? I don’t know any brickies from Stoke but I used to go out with an electrician from Manchester. He turned out to be an arse but I have noticed that his current Facebook photo is an EU flag.

Yes very interesting How. Apparently Davos is going to be one big Remain chamber, do they have any Brexiteers there? But I have also read - Davos man is irrelevant now ( OTT )

BTW in all excitement yesterday no one mentioned " The Pound" did it fall - or what? Usually we get Big Headlines on it but perhaps its expected to fall now when Brexit is mentioned?

He points out that tax breaks on inheritance cost the US $17bn a year, without generating any extra investment or productivity.

He's certainly right about this. Inheritance tax reform is desperately needed in this country - capturing more unearned wealth by lowering the threshold, reducing avoidance by increasing the number of years in which HMRC can capture lifetime 'gifts' and tightening up the rules on using family trusts to avoid tax.

The inheritance tax raised should be hypothecated and directed to fund residential social care. Now that really would be a reform to support the 'just managing'.

And as IHT taxes unearned rather than earned wealth, it chimes nicely with our Brexit aspiration to be a country of global movers, shakers and innovators.

The inheritance tax raised should be hypothecated and directed to fund residential social care.
That would be good.
I'd vote for that.

He points out that tax breaks on inheritance cost the US $17bn a year, without generating any extra investment or productivity.

I can't agree with this. Why would anyone work one day longer than they must to if they can't leave any money to their children?

Agreed, but we could also look at removing the cap on NI contributions as suggested by Frank Field or reintroducing the original premise of social "insurance" to the welfare state in line with PH's comments and Singapore.

www.theguardian.com/society/2016/dec/02/run-the-nhs-and-social-care-like-john-lewis-says-frank-field

en.wikipedia.org/wiki/Central_Provident_Fund

number

I agree with you

I think there has been snipping on both sides obviously

The sad thing is that these threads used to be "everyone welcome" but with comments like fuck off if you dont like it then it doesnt feel very welcoming

I notice surfer has stopped saying everyone welcome though

For the record I absolutely disagree with move if you don't like it but I assumed the Fuck off post was goady not an actual sentiment. And Surfer has stopped saying All welcome because goady nasty name calling posters aren't welcome whether they are Remainers or Leavers

I notice surfer has stopped saying everyone welcome though surfer said it to me recently, well I thought it was recently but who knows? I've found dry January such a struggle, honestly, how much dry cider, dry ginger, dry martini and dry wine can one person take?

I'm still trying to internalise - must have read that somewhere, posh eh? - that 48% weren't happy after 52% said they hadn't been happy. So 100% of the population are out of touch with politicians. Figures.

Anyway, the next couple of months should be fun, I'll still pop in occasionally.

TM's speech mentioned that the people voted knowing what would happen. Well I know I did, but not sure everyone did.

museum The point about IHT reform in this country is that it can be used to capture unearned wealth (ie gain through house price inflation), as opposed to gain through paye income, that is already taxed at source, so the argument 'why would anyone work if they couldn't leave anything to their children' is very weak - especially if IHT is hypothecated to cover the cost of social care.

If there is one thing Aneirin Bevan surely didn't intend the NHS to be for, it was preserving a nest egg for your nearest and dearest!

It's a 'generational' argument too. Most people born after, say, 1985, work because they bloody well have to. The idea of being motivated by having something to leave to your nearest and dearest is the stuff of fantasy.

The point about IHT reform in this country is that it can be used to capture unearned wealth (ie gain through house price inflation), as opposed to gain through paye income, that is already taxed at source, so the argument 'why would anyone work if they couldn't leave anything to their children' is very weak - especially if IHT is hypothecated to cover the cost of social care.

Would people with a 2M house but not much else still carry on working if they knew they couldn't leave their house to their children? Wouldn't they just take out a reverse mortgage?

Just popping in for a large - I know it's early but I have just caught up on the posts from the board yesterday and first thing this morning. Valiant effort from Semi,Wrong et al, all I can say is blimey it makes you want to tear your hair out.

I'm so fed up of the hysteria now tbh time4 - I don't know how some people have the stamina for extended periods of drama.

I'm a pragmatist as a rule - a period of dramatic reaction and then I strip away emotion and look for the positives wherever I can (in all aspects of life - home, family & work).

Teresa May is speaking in Davos on the EU at this very moment, emphasising the UK's international ties beyond Europe.

Chin chin Semi. I am also one of life's eternal optimists.

I don't know how people have the time let alone the stamina? It's a full time job keeping up with all the Brexit changes & discussing them on social media.
Must be a lot of retired people about.?

Museum I think people already do use equity release and the numbers are on the rise. The backstop is the fear of being trapped in a property you can't afford to service so if anything it may well be the case that this makes people work longer.

Trying to get my head around the banking sector sabre rattling yesterday. I assume moving operations within the EU post Brexit increases the regulatory burden and capital requirements for the stand alone Euro business? It also increases access barriers to non-Euro finances. I would also not be surprised if there was a lot of loss leading in this part of the business if the Italian banks are any guide?

This is the contrasting position statement from Barclays today.

www.bbc.co.uk/news/business-38675073

Museum I think people already do use equity release and the numbers are on the rise. The backstop is the fear of being trapped in a property you can't afford to service so if anything it may well be the case that this makes people work longer.

There's an easy insurance solution- a reverse mortgage with a guarantee to stay in your house until your death. It already exists in some form.

Barclay's boss said London will remain the 'banking engine'.