Labour

[EverythingAllatOnceAllTheTime]

No questions the Tories were bad, but Labour are on another level.

Are you still happy you voted them in? Be honest now, you are having your doubts aren’t you?

If not, you really should be.

Absolutely.

@TheUnsilenced - people can pull money temporarily in wealth and then return it if they are worried? Crystallise their gain early and then reinvest it?

Too much hassle for the majority of asset rich individuals.

But my point is that there really aren't that many people earning over £500k per year in the UK (0.1% or 50,000 people) and given that this group pays 25% of all income tax revenue it really doesn't take that many leaving to put a significant hole in income tax receipts.

Switzerland had Credit Swiss fail last year and are grappling with their own capital flight issues to Dubai due to increased regulation, since the banking secrecy went, shell companies might be next?
The US put a lot of pressure on countries around the world but then the cash goes to the Middle East and it is not exactly safer.

I get your point @1dayatatime but I disagree that persons holding lots of liquid assets in the markets do not trade out temporarily based on perceived political risk.

I think there is some confusion here.

There is an obvious distinction between investment in the UK, and HNW remaining domiciled in the UK - I am talking about the latter. They leave and take taxable income etc with them. Many may say good riddance etc and that’s fine, but it’s still a loss of tax revenue. I have sat on a number of investment round tables with tax and trust lawyers so I have an idea as to the potential scale.

Of course, they reallocate from risk assets into fixed income and cash etc.

I don’t share your view. On the contrary, the CHF is a safe haven.

@TheUnsilenced - it is true that the CHF has held up very well.

However, following the collapse of Credit Suisse, there are not more jobs in financial services in Switzerland. They are laying people off. Private wealth in Geneva may be different due to the crisis in the Middle East. It is difficult to keep up.

In any event though, Switzerland is politically stable, that is for sure. I know they were worried about capital flight, if it has largely come back that would be a good benchmark for Starmer and his team to take heed.

In wealth, yes I can imagine.

Traders too given there is less volatility and their retained earnings meaning some will just cash out.

Do you have experience of CHF as a safe haven?

I do.

I have traded in/out of it during Brexit and the ‘frankenshock’

Good to know.

Ah, I see the post suggesting that "left wing" posters get deleted rather more regularly has been deleted - along with some "left wing" posters.

Colour me shocked...

What thread was that on? The only posts I can see deleted in the last two days were by me and two other posters of differing views but they were not saying anything like that.

Anyway I still haven't had time to listen to the r4 programme - tomorrow!

Exactly - what a weird interpretation of what was actually posted

Don't worry about the More or Less listening - it would be interesting to know but there are many more pressing things in life and I'm only teasing about being on your case

Ah I know @Efacsen - I'm keen to listen though. Haven't spent enough time in the car to fit the programme in yet 😆

I am glad it is not just me who is puzzled by that post. Especially given the post where someone hinted that MN delete left wing posts is still there.

UK is rated at 76% for political stability and lack of terrorism/violence, Switzerland 97 Germany 67 France 70, poor old USA 33.

Switzerland no doubt ranks so highly due to the fact it rarely if ever, gets involved in any international issues/wars.

The £ has risen considerably recently.

Too much negativity.... Flight of Capital bollox, if it didn't happen as a result of Brexit, some of the highest taxes in living memory and Truss, then it would take something spectacular by Reeves to cause this to actually happen.

Lets face it, these suggestions are all put about by the right wing, who would rather the UK fail than accept they got hammered on July 4th

Wonder what on earth could be happening in the USA to cause that low rating @iwishihadknownmore??

That post by someone who only has two posts to their name, both in one day? 😁

I think gun crime and school shootings are the major reason.

“Lets face it, these suggestions are all put about by the right wing, who would rather the UK fail than accept they got hammered on July 4th“

@iwishihadknownmore - not really. We are already paying a ton of tax, the last thing I want is more taxpayers to leave and capital flight. Just means those staying get screwed even more.

Here we go again... capital flight!! Tax payers screwed!!

Same old same old.

Its just tired speculation, i note the same efforts are not put into what Labour might do to the NHS.