Rishi Sunak's Spending Review: Four things to look out for
24/11/2020 | news | business | 904
The Spending Review marks the start of the chancellor's economic recovery strategy. Here's what to watch for.
1
24/11/2020 09:43:20 2 2
bbc
Somebody has to pay for it ....
2
24/11/2020 09:45:57 1 0
bbc
Fire up the MMT
1
24/11/2020 09:43:20 2 2
bbc
Somebody has to pay for it ....
2
24/11/2020 09:45:57 1 0
bbc
Fire up the MMT
3
jon
24/11/2020 09:48:22 14 11
bbc
The present aid target should be cut even if it means a change in the law makes it permanent. We don’t have the money to send overseas and would be paying this from increased borrowing. It’s ridiculous that we are sending aid to China, the second largest economy in the world. We are even sending money to India which has a space programme when our own BAME communities are experiencing inequalities.
9
24/11/2020 09:54:49 10 10
bbc
Lol. Another ones who doesn't understand the purpose of Foreign Aid.
76
24/11/2020 10:44:50 0 0
bbc
The government doesn't want to pay for meals for starving kids at home. Britain s the one that needs foreign aid sent to it.
4
24/11/2020 09:48:57 40 4
bbc
Rishi needs to raise taxes otherwise its all bs...you can't seriously recoup £400bn by trimming an already down to the bones public sector and pay freezes.

Suspect he'll be kicking the can further down the road for future generations to pay.
24
24/11/2020 10:05:29 30 28
bbc
So, how do you propose he raises taxes from people that aren't working anymore because they got made redundant due to the ridiculous overreaction to a flu virus?
31
24/11/2020 10:13:35 7 2
bbc
Of course he will, need to signal potential rises far enough in advance so the accountants can design new schemes for the metropolitan elite to avoid paying the tax.

That's why there were hints on Capital Gains tax reform a couple weeks ago, so no one who can afford a half decent accountant needs to pay CGT when it's reformed.
209
24/11/2020 12:04:00 16 1
bbc
The problem is we have too many disfunctional families where no parent works, they are on benefits, have housing benefit, are consuming social workers time (hence cost), same with police time etc etc who basically cost the state a lot & they give back nothing to the system. Then we have hard working middle earners (say 50-100k) getting nothing being hammered as an easy target
5
24/11/2020 09:49:14 6 8
bbc
Overseas aid budget is "in the firing line"? It should be shot down completely to zero before anything else is done.
7
24/11/2020 09:54:04 11 4
bbc
Why? Do you actually understand the purpose of Foreign Aid? It would seem not.
6
24/11/2020 09:52:45 73 31
bbc
Sunak has dug himself a hole, with no idea how to get out of it. Expect pay freezes and tax rises. Except these are precisely what was ruled out in the Tory manifesto. What to do...
11
24/11/2020 09:55:58 59 91
bbc
What to do? Maybe they'll go engineer an election after Johnson quits (generally expected anytime from spring 21) and leave the problem to a labour government, as usual.
182
24/11/2020 11:47:16 12 1
bbc
Just a thought but maybe the Corona situation wasn't planned for in the manifesto pledges? Breaking a pledge for the sake of it (remember "no new taxes"?) is not a good thing, breaking it because the country is in the doldrums with Brexit about to make stuff a lot worse, is not a bad thing.
435
24/11/2020 15:20:45 3 0
bbc
We, I mean all those lucky enough to hold a job and general work force will pay up! Calculation is, it will take 30 years to claw back the cost of the outbreak. And, if we are lucky enough not to experience several recessions then the 20 year olds will carry the burden. Thank God I'm retiring in 2022
473
24/11/2020 16:00:16 2 3
bbc
The Conservative manifesto was written before anyone had even heard of Covid. And what are Labour's policies at the moment? Sorry, what was that..... oh, right....they don;t actually have any. :-)
874
25/11/2020 14:18:10 0 0
bbc
Neither were in their mainfesto just your impression of what you like to think it is Against tax rises but no pay freezes dream on
5
24/11/2020 09:49:14 6 8
bbc
Overseas aid budget is "in the firing line"? It should be shot down completely to zero before anything else is done.
7
24/11/2020 09:54:04 11 4
bbc
Why? Do you actually understand the purpose of Foreign Aid? It would seem not.
15
24/11/2020 09:59:25 3 0
bbc
no i dont understand it. It lines the pockets of NGOs, does little to help the poor and despite people saying it gives Global Britain influence, i find it hard to recall any foreign government expressing ANY gratitude ever. So what is the point?
27
24/11/2020 10:07:01 1 1
bbc
OK, smarty-pants, enlighten us all to what it does, other than bribing foreign countries into trading with us?
30
24/11/2020 10:13:18 1 0
bbc
It actually nearly doubled during Austerity when benefits wages frozen money taken off the disabled and most vulnerable.
Increases shouldn't be paid for by the needy at home
8
24/11/2020 09:54:18 7 5
bbc
" 4 Things "
Item number one : Ensure that higher band taxpayers pay no more tax and that the young and the poor foot the bill as they did 10 years ago ….
3
jon
24/11/2020 09:48:22 14 11
bbc
The present aid target should be cut even if it means a change in the law makes it permanent. We don’t have the money to send overseas and would be paying this from increased borrowing. It’s ridiculous that we are sending aid to China, the second largest economy in the world. We are even sending money to India which has a space programme when our own BAME communities are experiencing inequalities.
9
24/11/2020 09:54:49 10 10
bbc
Lol. Another ones who doesn't understand the purpose of Foreign Aid.
10
24/11/2020 09:55:37 16 8
bbc
United Ireland and Independent Scotland, will ease the financial burden on England
59
24/11/2020 10:30:20 2 5
bbc
Are they football teams? No doubt terrible if anything like the nations mentioned.
6
24/11/2020 09:52:45 73 31
bbc
Sunak has dug himself a hole, with no idea how to get out of it. Expect pay freezes and tax rises. Except these are precisely what was ruled out in the Tory manifesto. What to do...
11
24/11/2020 09:55:58 59 91
bbc
What to do? Maybe they'll go engineer an election after Johnson quits (generally expected anytime from spring 21) and leave the problem to a labour government, as usual.
121
24/11/2020 11:04:49 16 7
bbc
When were you born last week?
Oh Jeremy,

Your understanding of history is about as accurate as Corbyn saying he is not a racist. Please stop printing garbage in the hope that some people will believe it. They won't. Labour never could manage money and never will be because of their outdates ideologies.
Removed
215
24/11/2020 12:02:48 6 4
bbc
I remember playing Superman in the 12ft high rubbish mountains during the winter of discontent and Jim Callaghan saying it was all the presses fault lol
Never be blinkered by political parties and Unions they all take advantage of the working man and feather their nests like a French Emperor
256
24/11/2020 12:45:00 4 5
bbc
They may even write a letter saying there is no money left
306
24/11/2020 13:10:51 6 4
bbc
we all agree that Johnson has reached the level of his incompetence and along with HS2 should go , but to put a human rights lawyer in his place who was a Corbyn cheer leader up to recent times , you must do better than that
321
24/11/2020 13:18:07 1 2
bbc
No you got that wrong, thats what Labour normally do so if the Consrvatives did do it perhaps Labour would know whats its like to recieve and empty bank rather than giving it (The famous Bron Note: sorry the bank is empty)
344
24/11/2020 13:39:03 3 3
bbc
As Usual????? Get real.
614
24/11/2020 22:56:10 0 0
bbc
What a funny and worrying thing to say.
876
25/11/2020 14:19:52 0 0
bbc
The reason for Tory Govt in the reverse to clean up the mess made by Labour 'there's no money left' conveniently forgotten that already and I don't like the Tories either
896
25/11/2020 16:57:37 0 0
bbc
BORIS worst Tory leader in history why his party sticking with #pennywise the clown ?? comes to mind
12
24/11/2020 09:56:38 17 5
bbc
The gov't needs to get its act together with Amazon etc. - adding new legislation is far too easy and builds up more problems down the line (hence one of the most complex tax systems in the world).

A real/recent example:-

Needed a new keyboard.

1. Official store: £129.99 (inc VAT)
2. Amazon £119 (No VAT)

It wasn't obvious that VAT had anything to do with the price until I asked for a receipt!
160
24/11/2020 11:27:07 9 1
bbc
I'd be struggling to pay £129.99 for a keyboard at any of my local shops more like £29.99 !!!
246
24/11/2020 12:40:59 5 1
bbc
£2.99 for a DELL that i've used for 10+ years. Still £2.99 today. What on earth are you getting for the other £116?

The prices are quoted ex-VAT because, well, that's normal. Businesses typically reclaim the VAT so quotes are all ex-VAT with a separate line item for VAT.
13
MVP
24/11/2020 09:56:46 5 4
bbc
It is inevitable that the NHS staff that we all clapped for over the summer will bear the brunt of the Government's "savings".
14
24/11/2020 09:57:10 62 2
bbc
I would hope they find a way to stop people selling goods in the UK (especially digitally) that do not make a commercial profit and pay corp tax in the UK. Following Brexit we must encourage business towards people who pay VAT and corp tax in the UK rather than those who strip money out of our economy and make other countries richer. That alone could probably fill the gap
18
24/11/2020 10:02:55 46 31
bbc
Then it's a good thing we are members of supra-national trading blocs that have stopped that happening (in 2019 in Amazon's case £1.2Bn of VAT on UK sales).

Oh wait - we voted to stop that happening by leaving the EU, I guess leavers want only UK employees to bear the weight of tax increases.
187
24/11/2020 11:51:02 6 0
bbc
Companies don't pay VAT, consumers do. Companies collect it on behalf of the state
838
25/11/2020 12:59:54 0 0
bbc
Don't disagree however Brexit opens the door for lax tax rules, race to the bottom regulation which is always exploited more by the super-rich. Arron Banks, Farage, Rees-Mogg et al anti-Europe stance has always been about the fear of regulation rather than all that Sovereignty tosh - they are scared they will be made to pay their way !!
7
24/11/2020 09:54:04 11 4
bbc
Why? Do you actually understand the purpose of Foreign Aid? It would seem not.
15
24/11/2020 09:59:25 3 0
bbc
no i dont understand it. It lines the pockets of NGOs, does little to help the poor and despite people saying it gives Global Britain influence, i find it hard to recall any foreign government expressing ANY gratitude ever. So what is the point?
16
24/11/2020 10:01:19 25 17
bbc
You know how quickly the BBC write a story as soon as the pound has a fall in value?

Well, you can always tell when the pound has risen; as the BBC completely ignore it!

The pound has had nearly 3 months of consistent rises and the last BBC story about its value was at the beginning of September (the last time it fell).

The BBC bias in only reporting losses is clear.
255
24/11/2020 12:44:28 3 1
bbc
You're right. Bias, bias, bias. Because everyone knows that under-reporting actually causes the exchange rates to vary.

I couldn't find anything at all about it until a very secret inside-trader told me of this amazing url: https://www.bbc.co.uk/news/business/market-data

GBP against Euro
EUR-0.20%

Or is that fake news?
294
24/11/2020 13:00:58 0 0
bbc
The £ is weak when there is the threat of no-deal (the one that was supposed to be so easy). Currently there is a glimmer of hope that there may be a deal (it will be sold as a success but in reality is inferior to what we had before). That's why the £ has risen. But it is still considerably weaker than b4 2016. It will crash further if there is no-deal. And the currency markets are rarely wrong.
17
24/11/2020 10:01:23 8 8
bbc
Sturgeon will be looking to empty the bank again! Shameless.
26
24/11/2020 10:11:02 6 4
bbc
Independent Scotland an E. U. Nation will relieve England of a financial burden
33
24/11/2020 10:10:53 1 0
bbc
relevance to story?
14
24/11/2020 09:57:10 62 2
bbc
I would hope they find a way to stop people selling goods in the UK (especially digitally) that do not make a commercial profit and pay corp tax in the UK. Following Brexit we must encourage business towards people who pay VAT and corp tax in the UK rather than those who strip money out of our economy and make other countries richer. That alone could probably fill the gap
18
24/11/2020 10:02:55 46 31
bbc
Then it's a good thing we are members of supra-national trading blocs that have stopped that happening (in 2019 in Amazon's case £1.2Bn of VAT on UK sales).

Oh wait - we voted to stop that happening by leaving the EU, I guess leavers want only UK employees to bear the weight of tax increases.
41
24/11/2020 10:19:23 9 0
bbc
Tax was paid in the low tax countries of Ireland & Belgium, a hole which the EU have tried to plug. An obvious flaw in the EU model that can only be addressed by synchronising tax rates which the EU have started to do.
868
25/11/2020 14:11:17 0 0
bbc
Where do you get these facts from? VAT on goods sold in the UK can still occur stop the transfer of sales to other EU countries like Ireland and Luxembourg both in the top 10 for tax dodgers
19
24/11/2020 10:03:15 129 39
bbc
Scrap HS2, get a deal with the EU, legalise and regulate cannabis, tax the mega corps and billionaires sufficiently.

Stop punishing the working and middle classes, especially key workers.
98
24/11/2020 10:54:18 91 31
bbc
Legalising and regulating cannabis would bring billions into the country. People are spending money on it anyway, that's not getting taxed, and we're spending money on the police trying to criminalise these people. A cannabis industry in this country would not only bring money in, but it would create jobs and businesses, and free up the police and courts, who now have a massive back log.
342
24/11/2020 13:38:24 8 17
bbc
Legalise cannabis.

You mean give in to lawlessness? Not in my name.
471
24/11/2020 15:58:27 7 2
bbc
Legalizing cannabis could be a waste of time. Canada messed it right up. Money men got involved and thought it was easy. The shops sell an inferior grade of mass produced stuff, at a high price. So many customers have gone back to street dealers, who don;t pay tax, but sell quality enthusiast grown products at a better price. You can't rush a big change like that.
813
25/11/2020 11:57:54 0 0
bbc
Good call on all counts
848
25/11/2020 13:30:19 0 0
bbc
If cannabis is bad for you the government can't be seen to encourage its use no matter how much revenue it raises - if revenue raising is the most important factor then why are so many resources going into educating people to stop smoking tobacco?
853
25/11/2020 13:34:15 0 0
bbc
Unless you are in favour of alcohol prohibition you are already in favour of cannabis legalisation. Many simply havent realised that yet. There is no (logical) argument to support one but not the other.
20
24/11/2020 10:04:21 2 3
bbc
Poor stuffed again
More tax breaks, Stamp Duty extended and doubled to £1,000,000 properties.
Another £10,000 for holiday let, help them over the Christmas
PAYE tax hike.
About covers it I think
21
ken
24/11/2020 10:08:14 16 3
bbc
Stand by for the ordinary folk to be shafted
45
24/11/2020 10:24:31 12 4
bbc
or bullied by piri and co
22
24/11/2020 10:09:10 1 1
bbc
Make tax voluntary, those who want to can pay, just print the rest 4eva. Simples
23
24/11/2020 10:10:18 177 19
bbc
The foreign aid budget is £13Bn, cutting it to zero reduces the UK's standing at a time when we are withdrawing from nearly all our trade agreements.

Or you could simply stop facilitating the (est HMRC) £25Bn of tax avoidance by requiring UK companies and those in British Overseas territories to publish who the beneficial owner of all their assets are.

You might cut organised crime as well.
38
24/11/2020 10:17:21 117 10
bbc
The UK's 'Standing' went out the window some time ago. I believe in foreign aid but even I think it should be cut (*though not scrapped) or configured in a different way. Of course, clamping down on tax-avoidance by a large companies and the highest earners is also a good call.
158
DG
24/11/2020 11:25:30 13 2
bbc
Come on, that would put half the MPs and HoLs in court and some possibly prison.

Do you really want that to happen............................... I do
357
24/11/2020 13:47:58 12 2
bbc
Why not cut the International Development foreign aid given to India? India is a nuclear power, has a massive military and has a significant large space programme to Mars and the Moon. It is immoral and outrageous that UK tax payers foreign aid money is being given to India, when it can easily afford to pay its own way in the world.
392
24/11/2020 14:44:19 7 7
bbc
Charity begins at home. We cannot send 13 billion overseas while our own people and economy are struggling. Utter stupidity if we do.
544
24/11/2020 18:44:10 0 0
bbc
Too much foreign aid to countries spending on nuclear weapons and space races.

If those countries won't spend on the basics for their citizens when arming themselves or doing space flight grandstanding, why should my taxes pay for them?
573
24/11/2020 21:09:25 1 0
bbc
I see on today’s news that the AA is being sold to two US based customers. Another source of UK income that will go abroad instead of staying here.
The UK bleeds cash through every pore, and no Chancellor does anything but make the situation worse.
755
25/11/2020 10:19:31 0 0
bbc
Agreed, all those nuclear arms and space programs don’t pay for themselves.
841
25/11/2020 13:14:03 0 0
bbc
you speak as if tax avoidance and organised crime are different things
4
24/11/2020 09:48:57 40 4
bbc
Rishi needs to raise taxes otherwise its all bs...you can't seriously recoup £400bn by trimming an already down to the bones public sector and pay freezes.

Suspect he'll be kicking the can further down the road for future generations to pay.
24
24/11/2020 10:05:29 30 28
bbc
So, how do you propose he raises taxes from people that aren't working anymore because they got made redundant due to the ridiculous overreaction to a flu virus?
37
24/11/2020 10:15:43 3 15
bbc
Tax wealth not income....scrap council tax and replace it with a tax that reflects house price growth post 1990.
668
25/11/2020 08:22:30 3 1
bbc
50k+ in the UK dead and it’s just a ‘flu virus’?!??
Which news channel have you been watching?
I clapped for the NHS, but our GP's did not hear it. They have been safe at their homes since March. They will also get £12-50 for each vaccination given, well their staff will administer while they count the income from guess Their Homes Removed
29
24/11/2020 10:12:42 18 5
bbc
Exempt from public sector pay freezes too...the govt daren't upset doctors. What was it Aneurin Bevan said about gold and doctors mouths?
262
24/11/2020 12:45:57 2 0
bbc
Am I the only person in the country who has been better served by their GP than before the Covid crisis? Contact has been easier, as once an online form (e-consult) was completed, at 8pm I was in the system and called back first thing the next day. I have since seen doctors and nurses and had all the tests I needed. I have also had the flu jab sooner this year as they were so well organised!
17
24/11/2020 10:01:23 8 8
bbc
Sturgeon will be looking to empty the bank again! Shameless.
26
24/11/2020 10:11:02 6 4
bbc
Independent Scotland an E. U. Nation will relieve England of a financial burden
139
24/11/2020 11:16:07 1 2
bbc
Scotland as an independant economy would not pass the EU rules for membership.
7
24/11/2020 09:54:04 11 4
bbc
Why? Do you actually understand the purpose of Foreign Aid? It would seem not.
27
24/11/2020 10:07:01 1 1
bbc
OK, smarty-pants, enlighten us all to what it does, other than bribing foreign countries into trading with us?
28
24/11/2020 10:11:58 13 5
bbc
Higher income tax on higher earners. Simple and fair.
35
24/11/2020 10:15:15 12 3
bbc
Only one problem with that the evidence suggests that the optimum rate of tax - in the sense of raising the maximum amount of revenue - is probably 40-45%, it might be a little higher but definitely less than 50%. So raising the top rate of income tax whilst it may satisfy your sense of fairness is more likely to result in less revenue for HMRC
53
24/11/2020 10:27:40 1 2
bbc
Higher tax for those who benefitted from furlough. If you take out you should put back in.
65
24/11/2020 10:34:46 6 2
bbc
Won't work. History shows that the higher the tax rates, the less tax is collected. Higher income tax would lead to higher unemployment as people would rather do nothing than get highly taxed to pay for those who do nothing.
74
24/11/2020 10:44:43 5 2
bbc
plenty more middle earners who could pay more and loose child benefit, why should poor childless couples subsidise them
134
24/11/2020 11:12:30 1 1
bbc
Limited return
I clapped for the NHS, but our GP's did not hear it. They have been safe at their homes since March. They will also get £12-50 for each vaccination given, well their staff will administer while they count the income from guess Their Homes Removed
29
24/11/2020 10:12:42 18 5
bbc
Exempt from public sector pay freezes too...the govt daren't upset doctors. What was it Aneurin Bevan said about gold and doctors mouths?
7
24/11/2020 09:54:04 11 4
bbc
Why? Do you actually understand the purpose of Foreign Aid? It would seem not.
30
24/11/2020 10:13:18 1 0
bbc
It actually nearly doubled during Austerity when benefits wages frozen money taken off the disabled and most vulnerable.
Increases shouldn't be paid for by the needy at home
4
24/11/2020 09:48:57 40 4
bbc
Rishi needs to raise taxes otherwise its all bs...you can't seriously recoup £400bn by trimming an already down to the bones public sector and pay freezes.

Suspect he'll be kicking the can further down the road for future generations to pay.
31
24/11/2020 10:13:35 7 2
bbc
Of course he will, need to signal potential rises far enough in advance so the accountants can design new schemes for the metropolitan elite to avoid paying the tax.

That's why there were hints on Capital Gains tax reform a couple weeks ago, so no one who can afford a half decent accountant needs to pay CGT when it's reformed.
32
bds
24/11/2020 10:13:53 7 5
bbc
Watch out for this too:

“ A no-deal Brexit would cause more long-term damage to the economy than the coronavirus pandemic, the governor of the Bank of England has warned.”

No deal is just not an acceptable option BOJO, get an extension if necessary, even if it means you have told another porkie.
43
24/11/2020 10:22:55 5 9
bbc
GET OVER IT !!!!!!!!
51
24/11/2020 10:26:46 5 1
bbc
Its what the majority voted for. However way you try to squirm out of it.
17
24/11/2020 10:01:23 8 8
bbc
Sturgeon will be looking to empty the bank again! Shameless.
33
24/11/2020 10:10:53 1 0
bbc
relevance to story?
34
24/11/2020 10:14:30 19 2
bbc
doris said that "we are all in it together" he did not say what we where in ?
387
24/11/2020 14:36:22 4 0
bbc
Nor did he say that it was up to the neck in it.
898
25/11/2020 17:04:06 0 0
bbc
Who’s Doris Johnson
28
24/11/2020 10:11:58 13 5
bbc
Higher income tax on higher earners. Simple and fair.
35
24/11/2020 10:15:15 12 3
bbc
Only one problem with that the evidence suggests that the optimum rate of tax - in the sense of raising the maximum amount of revenue - is probably 40-45%, it might be a little higher but definitely less than 50%. So raising the top rate of income tax whilst it may satisfy your sense of fairness is more likely to result in less revenue for HMRC
55
24/11/2020 10:29:09 1 2
bbc
I would suggest raising tax on higher earners, not just the highest earners. As you said, most people should be paying more in tax, protecting the the lowest earners and most vulnerable.
36
24/11/2020 10:15:38 3 2
bbc
There is no other choice but another 'super tax' on earnings/income £100k+ for 2020/21 onwards supplemented by a reform of CGT on second homes etc.

VAT is a sales tax and if £GBP falls post Brexit/Covid the cost of imported goods/service is going upwards - a VAT rise would hit the most vulnerable just as many wages stagnate (and fall of a cliff for some).
70
24/11/2020 10:42:16 2 2
bbc
A good case for importing less and manufacturing more.
24
24/11/2020 10:05:29 30 28
bbc
So, how do you propose he raises taxes from people that aren't working anymore because they got made redundant due to the ridiculous overreaction to a flu virus?
37
24/11/2020 10:15:43 3 15
bbc
Tax wealth not income....scrap council tax and replace it with a tax that reflects house price growth post 1990.
67
24/11/2020 10:37:38 21 2
bbc
Just how are you proposing to tax wealth? Make people with big houses pay more tax which they don't have in the bank, so they need to sell their big house to pay the tax? Any other brilliant ideas?
23
24/11/2020 10:10:18 177 19
bbc
The foreign aid budget is £13Bn, cutting it to zero reduces the UK's standing at a time when we are withdrawing from nearly all our trade agreements.

Or you could simply stop facilitating the (est HMRC) £25Bn of tax avoidance by requiring UK companies and those in British Overseas territories to publish who the beneficial owner of all their assets are.

You might cut organised crime as well.
38
24/11/2020 10:17:21 117 10
bbc
The UK's 'Standing' went out the window some time ago. I believe in foreign aid but even I think it should be cut (*though not scrapped) or configured in a different way. Of course, clamping down on tax-avoidance by a large companies and the highest earners is also a good call.
197
24/11/2020 11:56:31 17 0
bbc
Agreed. Maybe the foreign aid budget just needs to be re-directed.

Maybe use some of it to fund building hospital ships here in the UK?

Boosts UK manufacturing & Jobs & the finished product can be used in disaster relief around the world (or here to bolster the NHS when not needed abroad)......
440
24/11/2020 15:27:02 6 1
bbc
Sorry stressed Dad and others, while I do believe in Foreign Aid, many of you make the points about how well it is spent and could it be cut.

The reason for saying it was to provide context to the 2nd point, £25Bn in tax evasion is twice the problem, plus how many friends would we win if we uncovered a load of evaded taxes for other developed nations, might rebuild a few bridges internationally?
458
24/11/2020 15:50:20 4 2
bbc
Foreign Aid is all about "you scratch my back I'll scratch yours".

UK PLC does very well out of it: "we reap more than we sow"!!

And UK companies will be cheesed off if we play political games when they and the economy are in dire straits.
510
24/11/2020 17:17:29 0 1
bbc
Correct. 2016.
39
bds
24/11/2020 10:18:40 252 26
bbc
“Mr Johnson believes £40bn of tax rises are necessary over the short-term, and that sort of money cannot be raised without touching the Big Three: income tax, VAT or national insurance. These bring in almost two-thirds of government revenue.”
——
Scrap the HS2 vanity project, there’s £106bn (absolute minimum, likely much more) in the back pocket straight away.
62
24/11/2020 10:34:09 115 82
bbc
scrapping the Clown would probably mean at least a £500bn boost
148
DG
24/11/2020 11:20:09 40 5
bbc
We need a public ballot on HS2. It is obvious to many that this has now become un-affordable and the money should be used to prop up our economy.

As you say, £106bn is the absolute min, and I would think if this stupid project continues then we will kiss goodbye to at least £200bn
242
24/11/2020 12:36:34 18 8
bbc
And where do you think all the money will come from to pay for all this borrowing. The tax payer. Income tax will go up. People moaning about a pay freeze think yourselves lucky. I have had no pay rise for 5 years but luckily i still have a job. People are always moaning.
348
24/11/2020 13:41:32 13 4
bbc
As long as there's enough to keep lobbing massive bungs to the Chumocracy, that's all that really matters.
367
24/11/2020 14:00:01 3 4
bbc
While I agree it shouldnt be done, as the current situation has shown we need broadband / local hubs more - you cant just scrap it. A vast majority of that money is going to pay for staff costs. Scrap the Project and alot of people will have no job = benefits = additional costs. Change the project rather than scrap
437
24/11/2020 15:24:42 7 2
bbc
Since 2008 most Government borrowing has been from the BoE buying Government corporate bonds.:

https://www.theguardian.com/business/2019/mar/08/the-verdict-on-10-years-of-quantitative-easing

The BoE is part of Government: https://www.bankofengland.co.uk/knowledgebank/who-owns-the-bank-of-england

The BoE has conjured the money it has used to buy Government bonds out of thin air...
443
24/11/2020 15:28:28 5 0
bbc
cont...

Part of the game is pretending the Government owes the BoE interest on that conjured money, but this should tell you that is not so: https://www.bbc.co.uk/news/business-20268679

Getting back to bonds: the Government encourages institutions to borrow from it & they do because in times of crisis Government Bonds are a guaranteed safe haven. So much so that they "lend" to Government even...
446
24/11/2020 15:29:38 7 2
bbc
Cont...

... when interest rates are extremely low or, as they are currently, at a negative rate; meaning that those institutions are paying the Government for looking after their money.

It's a game of smoke & mirrors proving that the economy has always been contrived & manipulated.

There is no need to raise our taxes, depress our wages or impose austerity on us. Will YOU fall for it again?
448
24/11/2020 15:31:25 3 2
bbc
"The Tory MP (John Redwood) said he has “not been worried about the deficit for some time”, because the Labour government of Gordon Brown and subsequent Conservative governments have been able to “print money to pay their bills"."

It's all smoke and mirrors my friends. There was/is no need for austerity because the debt & deficit only exists in the imagination!
592
24/11/2020 22:11:50 4 1
bbc
HS2 has never made financial sense and part of its justification was based on the very Green Book calculations that are about to be changed in the Autumn Review. If you read the case for it (which I have) it is riddled with assumptions on costs and benefits that can be picked apart by an A level economics student. Can someone join the dots please?
649
25/11/2020 06:58:14 0 0
bbc
Create a new covid sales tax set at around 5% with no exceptions everyone pays it, no getting it back because you are a business if everyone pays it then its fair and it will raise the 40 billion a year and as soon as the covid bill is paid scrap it, it really is simple they could even add it to the vat as long as everyone pays and no claw back for business, its time tax was overhauled so its fair
656
25/11/2020 07:48:16 2 0
bbc
Trident? and that's the devisate cleared
681
25/11/2020 08:56:32 0 0
bbc
absolutely bang on job done
700
25/11/2020 09:22:37 1 1
bbc
The trouble with HS2 apart from the dubious economic case is that it will have the opposite effect in rebalancing the Economy.

The First Phase will only suck investment into the transport corridor between London & Birmingham for at least 10 years.

What they should have done, like in many EU Countries is invested in the regional cities transport infrastructure and links between those first.
782
SM
25/11/2020 10:49:52 1 0
bbc
Agreed, but also,
Easy min impact solution - close ridiculously out if date unsustainable final salary public sector pensions to new staff, switch to something reflecting the real world.
No impact to those in role they continue to get a massive pay enhanced pension that they conveniently forget about when moaning about salaries compared to private sector. If new staff don't like, go private.
824
25/11/2020 12:14:10 0 1
bbc
Scrapping HS2 - or any other Major Investment Project - will not save a single penny. Such projects are not financed by the taxpayer, you need to check up on how such projects are financed.
829
25/11/2020 12:31:44 1 0
bbc
If this country is to be rebalanced and green then we need HS2 and more like it.
infrastructure costs are always exorbitant and over budget just look at the canals and railways from the 1800's which we are still using...
Holyrood was budgeted at 40 mil, it cost 400 mil so HS2 will need to go some to beat that overspend.
Like the Euro tunnel it will pay off later rather than now.
40
24/11/2020 10:15:15 104 55
bbc
Dennis Healey is remember for saying he would "squeeze the rich until the pips squeak".

Well after Sunak has finished taxing people to pay for this governments complete and utter screw up, Healey's tax plans will look very moderate.

Of course, this being a Tory government, you can bet your bottom dollar that everyone EXCEPT the rich are going to get hammered with super high taxes.
48
24/11/2020 10:25:44 82 29
bbc
I mean heaven forbid those who have took millions from the furlough scheme should have to pay some of it back....
119
24/11/2020 11:04:26 17 20
bbc
In case you have noticed David, the rich are getting hammered by high taxes under the Tories and have always been. That is why they contribute so much every time the figures are published. When you, and fellow Lefties, start dealing in facts instead of your pathetic ideologies maybe you will get someone to listen. Until then, I suggest you stop making yourself look stupid.
264
24/11/2020 12:46:38 2 0
bbc
or those who can afford good tax avoidance accountants
293
24/11/2020 12:59:34 3 5
bbc
So the virus was creatd by the Torys was it? Straneg that Labour have agreed with everything that the Torys have done and said oevr and over again that they would have done more. If Labour had have been in power this year then the deficit would be significantly more than £350b
615
24/11/2020 22:58:11 0 1
bbc
Typical lefty comment.
818
25/11/2020 12:03:25 0 0
bbc
Got a crystal ball have you?
18
24/11/2020 10:02:55 46 31
bbc
Then it's a good thing we are members of supra-national trading blocs that have stopped that happening (in 2019 in Amazon's case £1.2Bn of VAT on UK sales).

Oh wait - we voted to stop that happening by leaving the EU, I guess leavers want only UK employees to bear the weight of tax increases.
41
24/11/2020 10:19:23 9 0
bbc
Tax was paid in the low tax countries of Ireland & Belgium, a hole which the EU have tried to plug. An obvious flaw in the EU model that can only be addressed by synchronising tax rates which the EU have started to do.
42
24/11/2020 10:21:27 9 5
bbc
WE NEED TO SECURE A NATIONAL LIVING WAGE ( not a minimum wage ) - A Living Wage means that at least you can live - not having one means that you can't.

PENSIONS - UNIVERSAL CREDIT - BASIC WAGES.

We might be in the same Storm together BUT we are definitely in different Boats.
68
24/11/2020 10:41:11 6 2
bbc
No such thing as a living wage, if all lower paid workers wages were increased so would the price of food, rent, utilities etc and you are back to square one with hyper inflation around the corner. What we need to do is build more social housing and limit rent increases to inflation.
32
bds
24/11/2020 10:13:53 7 5
bbc
Watch out for this too:

“ A no-deal Brexit would cause more long-term damage to the economy than the coronavirus pandemic, the governor of the Bank of England has warned.”

No deal is just not an acceptable option BOJO, get an extension if necessary, even if it means you have told another porkie.
43
24/11/2020 10:22:55 5 9
bbc
GET OVER IT !!!!!!!!
44
24/11/2020 10:23:04 1 1
bbc
No 1. Tax Rises. No2. Taxes increasing No 3. Taxes getting bigger & not forgetting No4. amount of tax people pay to expand.................
21
ken
24/11/2020 10:08:14 16 3
bbc
Stand by for the ordinary folk to be shafted
45
24/11/2020 10:24:31 12 4
bbc
or bullied by piri and co
46
24/11/2020 10:25:02 11 8
bbc
Those who have benefitted from furlough schemes should be the first to take tax hikes. The system was there as a safety net, they beneffited from it so now its time to return the favour
60
24/11/2020 10:31:58 7 3
bbc
Yayyy! Another genius plan! At a time when we need to unite the country & all pull together, let's attack people using sweeping generalisations, to sow division & unfairness! Genius!??
88
24/11/2020 10:46:45 3 1
bbc
Better still, those of us who weren't furloughed, carried on working and paid for the furlough get a tax credit. £5,000 each should cover it.
300
24/11/2020 13:04:07 2 1
bbc
Try this: at an interesting website (google, bing, asianbabes, take your pick)

"what is furlough"
"who decides who goes on furlough"
"why did every country furlough many workers"
"why am I so jealous of other people in a worse situation than myself"
"who else can I victimise with other peoples lies and my own misinformation"
47
24/11/2020 10:19:22 11 6
bbc
4 things to look out for:

1. Lies
2. Lies
3. Lies
4. Lies
40
24/11/2020 10:15:15 104 55
bbc
Dennis Healey is remember for saying he would "squeeze the rich until the pips squeak".

Well after Sunak has finished taxing people to pay for this governments complete and utter screw up, Healey's tax plans will look very moderate.

Of course, this being a Tory government, you can bet your bottom dollar that everyone EXCEPT the rich are going to get hammered with super high taxes.
48
24/11/2020 10:25:44 82 29
bbc
I mean heaven forbid those who have took millions from the furlough scheme should have to pay some of it back....
61
24/11/2020 10:33:13 24 18
bbc
Yes, because they all asked to be furloughed by the most inept Govt in UK history!??
78
24/11/2020 10:44:54 26 5
bbc
Nobody chose to be furloughed.

After all this you STILL don't understand how it works? Why?
117
24/11/2020 11:03:20 4 12
bbc
well said
118
24/11/2020 11:04:15 16 4
bbc
Woke replied:
I mean heaven forbid those who have took millions from the Bozo clown party government /contracts should have pay it back...………………..
153
DG
24/11/2020 11:22:08 0 7
bbc
Totally agree. I for one, like a million others have been locked out of the furlough scheme.......
186
24/11/2020 11:50:34 8 3
bbc
According to the 'Billionaire Wealth v Community Health' report (Institute for Policy Studies) between March and November of this year the collective wealth of billionaires increased by around $1 trillion while their employees (wealth creators) worked unto ill health & death - e.g. Bezos made £70.7 Bn in splendid isolation while 20k of his workforce contracted Covid. The workshy rich owe us bigly.
465
24/11/2020 15:54:07 0 1
bbc
Since 2008 virtually all Government borrowing has been from the BoE buying Government corporate bonds:

https://www.theguardian.com/business/2019/mar/08/the-verdict-on-10-years-of-quantitative-easing The

BoE is part of Government: https://www.bankofengland.co.uk/knowledgebank/who-owns-the-bank-of-england

The BoE has conjured the money it has used to buy Government bonds out of thin air...
491
24/11/2020 16:39:44 4 0
bbc
But why should those who were not furloughed have to pay towards those that were?
49
24/11/2020 10:26:43 2 5
bbc
Why all the supposition?
Just go ask Kier Starmer now what will be in the spending review.
50
24/11/2020 10:26:46 3 9
bbc
political dynamite. stop pensions apartheid. stop public sector index linked pensions. next to no private sector workers benefit from such luxury.
72
24/11/2020 10:43:22 3 5
bbc
bet any thumbs down comments are from public sector beneficiaries.
126
24/11/2020 11:07:10 4 0
bbc
Yeah, nurses and fire-fighters, paramedics and police officers, none of them a worth looking after in their dotage, should scrap public sector pensions across the board, make 'em work 'til they drop! But let's not stop there. We'd save £billions scarping the State Pension.

But seriously, while it may begin as a sensible suggestion, how far will our unscrupulous politicians take it?
32
bds
24/11/2020 10:13:53 7 5
bbc
Watch out for this too:

“ A no-deal Brexit would cause more long-term damage to the economy than the coronavirus pandemic, the governor of the Bank of England has warned.”

No deal is just not an acceptable option BOJO, get an extension if necessary, even if it means you have told another porkie.
51
24/11/2020 10:26:46 5 1
bbc
Its what the majority voted for. However way you try to squirm out of it.
52
24/11/2020 10:27:24 43 18
bbc
I think the 4 things we should really look out for are;

1. Tories abusing their power by awarding £bns in contracts to their mates who have no experience to handle the contracts.

2. The money awarded being used for personal gain, not the point of the contract.

3. Culpability at govt level for mismanagement leading to unnecessary deaths.

4. What we can learn to stop this happening again.
56
24/11/2020 10:29:28 35 19
bbc
4. What we can learn to stop this happening again.

Don't believe the next Tory manifesto, nor anything promised by the PM or any of his cabinet, or any Govt minister at all!??
28
24/11/2020 10:11:58 13 5
bbc
Higher income tax on higher earners. Simple and fair.
53
24/11/2020 10:27:40 1 2
bbc
Higher tax for those who benefitted from furlough. If you take out you should put back in.
54
24/11/2020 10:29:05 6 9
bbc
Why no mention of dropping the triple lock for pensions, should be based purely on inflation. I get a pension but feel we should do our bit.
80
24/11/2020 10:47:20 4 3
bbc
I disagree, feel free to send Rishi a cheque if it makes you feel better
35
24/11/2020 10:15:15 12 3
bbc
Only one problem with that the evidence suggests that the optimum rate of tax - in the sense of raising the maximum amount of revenue - is probably 40-45%, it might be a little higher but definitely less than 50%. So raising the top rate of income tax whilst it may satisfy your sense of fairness is more likely to result in less revenue for HMRC
55
24/11/2020 10:29:09 1 2
bbc
I would suggest raising tax on higher earners, not just the highest earners. As you said, most people should be paying more in tax, protecting the the lowest earners and most vulnerable.
52
24/11/2020 10:27:24 43 18
bbc
I think the 4 things we should really look out for are;

1. Tories abusing their power by awarding £bns in contracts to their mates who have no experience to handle the contracts.

2. The money awarded being used for personal gain, not the point of the contract.

3. Culpability at govt level for mismanagement leading to unnecessary deaths.

4. What we can learn to stop this happening again.
56
24/11/2020 10:29:28 35 19
bbc
4. What we can learn to stop this happening again.

Don't believe the next Tory manifesto, nor anything promised by the PM or any of his cabinet, or any Govt minister at all!??
57
24/11/2020 10:29:40 4 1
bbc
The hospitality industry will need to be supported with continuing VAT cut or simply just wont recover the price of the unemployed will cost more than they will benefit in more ways than one
58
24/11/2020 10:29:55 51 8
bbc
The only positive thing in the article is the prospect of moving the government out of London.
Concentrating all economic activity in just one Monstropolis is good for neither London nor the provinces.
Businesses have no choice because they must be near to their markets and suppliers. But moving the government out is possible, and it will stimulate the private sector as well.
193
24/11/2020 11:53:57 49 1
bbc
If they move the gov. out they need to build a campus style parliament that includes hotel style accommodation - lets take the opportunity to cut down on the need for some of these expenses claims.
498
24/11/2020 16:50:56 0 0
bbc
About half of all workers at department for education in Darlington travelled from London and other cities before covid, costing a lot of money.
819
25/11/2020 12:04:29 0 0
bbc
Yeh. Anwhere but Manchester though.
10
24/11/2020 09:55:37 16 8
bbc
United Ireland and Independent Scotland, will ease the financial burden on England
59
24/11/2020 10:30:20 2 5
bbc
Are they football teams? No doubt terrible if anything like the nations mentioned.
207
24/11/2020 12:02:16 0 0
bbc
spoons closed ?
46
24/11/2020 10:25:02 11 8
bbc
Those who have benefitted from furlough schemes should be the first to take tax hikes. The system was there as a safety net, they beneffited from it so now its time to return the favour
60
24/11/2020 10:31:58 7 3
bbc
Yayyy! Another genius plan! At a time when we need to unite the country & all pull together, let's attack people using sweeping generalisations, to sow division & unfairness! Genius!??
64
24/11/2020 10:36:44 1 5
bbc
Some people are going to have to pay more tax...perceived unfairness and divisions will be inevitable between those that will be forced to pay and those who don't. Furloughed workers should be involved in the discussion. After all, their jobs have been supported by other taxpayers to the tune of billions of pounds.
48
24/11/2020 10:25:44 82 29
bbc
I mean heaven forbid those who have took millions from the furlough scheme should have to pay some of it back....
61
24/11/2020 10:33:13 24 18
bbc
Yes, because they all asked to be furloughed by the most inept Govt in UK history!??
39
bds
24/11/2020 10:18:40 252 26
bbc
“Mr Johnson believes £40bn of tax rises are necessary over the short-term, and that sort of money cannot be raised without touching the Big Three: income tax, VAT or national insurance. These bring in almost two-thirds of government revenue.”
——
Scrap the HS2 vanity project, there’s £106bn (absolute minimum, likely much more) in the back pocket straight away.
62
24/11/2020 10:34:09 115 82
bbc
scrapping the Clown would probably mean at least a £500bn boost
376
24/11/2020 14:25:33 9 12
bbc
Jeremy Corbyn has already gone. Please keep up!
809
25/11/2020 11:51:46 0 0
bbc
Infantile comment
894
25/11/2020 16:45:16 0 0
bbc
Public transport e.g ?? always cramming with to many people HS2 A BIG TORY WHITE ELEPHANT &£500BN GO to fixing the country instead
63
24/11/2020 10:36:03 155 18
bbc
Make more. Export more. Import less. Stop relying on making money out of money (usually other people’s) We were in trouble long before Covid.
71
24/11/2020 10:42:36 76 12
bbc
Easier said than done. Reversing 30 years of manufacturing decline won;t happen overnight, In the meantime, our competitors would just react and get stronger. The simple fact is that wages and production costs are lower in the far east.
85
24/11/2020 10:48:25 13 1
bbc
Agree, we invest too much in property and not British businesses. Been the problem since the 90s. But a problem entirely supported by successive govts.
135
24/11/2020 11:13:15 12 5
bbc
Manufacture what exactly? Make things that cost 3 times the price of the chinese junk and then have no one to sell it to?
188
24/11/2020 11:51:07 13 2
bbc
Sounds good, but won’t work.
Britain is one of the countries that won’t accept low wages and certainly can’t complete with most of the production costs of Asia, Africa etc.
That’s why we do the high end stuff eg design, engineering, finance, insurance, technology, and leave the cheap stuff to others.
Sad that people don’t understand something so simple.
237
24/11/2020 12:32:07 5 3
bbc
Good idea... export more and import less... only that is the mantra for the US and India and pretty much every other country. So if no one wants to import and everyone wants to export... that's a lot of sellers and no buyers. You see the problem with insular thinking...?
244
24/11/2020 12:39:09 10 0
bbc
UK governments, both Labour & Tory, have adopted a defeatist attitude to the challenge of low Far Eastern labour costs.

Both parties have refused to take the necessary steps to fight this competitive pressure. Germany by comparison was not defeatist & retains a vibrant manufacturing sector. Key German attributes were: professional engineers have high status; Company Law opposes hostile takeovers
258
24/11/2020 12:45:12 6 0
bbc
Making moneyoutof money is what has allowed us to hae a deficit on trade for many many years.
460
24/11/2020 15:50:16 1 4
bbc
Yes. BY BRITISH to support our economy.
660
25/11/2020 08:00:44 1 0
bbc
We import cos it’s cheaper. We could make our own goods but the prices would be a lot higher due to wages. Brits won’t accept the low pay that other countries do.
675
25/11/2020 08:54:04 1 0
bbc
We were in trouble from the mid 80's, when the Economy re-centred to Banking & Services. It basically applied systemic weedkiller to established industries good & bad, & more importantly networks of trained workforces.

Successive Govts have failed to rebalance the Economy & invest, in preference to short term returns.

In many EU countries capital Investment has been key, so its our own fault.
774
25/11/2020 10:40:56 1 0
bbc
Buy less.
810
25/11/2020 11:55:57 0 0
bbc
Totally correct. We can start by putting a 40% tax on Chinese imports, and making stuff here. I have a child's stairgate- made in China. Why for God's sake? It's just bent and welded metal. We used to make this kind of stuff in the black country and it was better quality. Check out our balance of payments deficit with China- It's scary.
60
24/11/2020 10:31:58 7 3
bbc
Yayyy! Another genius plan! At a time when we need to unite the country & all pull together, let's attack people using sweeping generalisations, to sow division & unfairness! Genius!??
64
24/11/2020 10:36:44 1 5
bbc
Some people are going to have to pay more tax...perceived unfairness and divisions will be inevitable between those that will be forced to pay and those who don't. Furloughed workers should be involved in the discussion. After all, their jobs have been supported by other taxpayers to the tune of billions of pounds.
28
24/11/2020 10:11:58 13 5
bbc
Higher income tax on higher earners. Simple and fair.
65
24/11/2020 10:34:46 6 2
bbc
Won't work. History shows that the higher the tax rates, the less tax is collected. Higher income tax would lead to higher unemployment as people would rather do nothing than get highly taxed to pay for those who do nothing.
66
24/11/2020 10:38:18 6 4
bbc
Foreign aid cuts may rebound on Britain-the countries affected may buy less British imports.Cuts invariably are not as straight forward as they might appear as those affected can take reprisals.
77
24/11/2020 10:44:52 3 4
bbc
How much of the Foreign aid budget is being used to look after the people coming across from France- and other places- every day? I would imagine that it is now a huge amount.

We do more than our bit when it comes to charitable works around the World and in our own country but we must look after our own people first and foremost as there are enough people in need here already.
79
24/11/2020 10:46:47 6 1
bbc
Agree, cutting foreign aid budget would be counter-productive especially as we are looking to improve relations with RoW and seeking trade deals.
37
24/11/2020 10:15:43 3 15
bbc
Tax wealth not income....scrap council tax and replace it with a tax that reflects house price growth post 1990.
67
24/11/2020 10:37:38 21 2
bbc
Just how are you proposing to tax wealth? Make people with big houses pay more tax which they don't have in the bank, so they need to sell their big house to pay the tax? Any other brilliant ideas?
75
24/11/2020 10:44:45 5 4
bbc
I'd scrap council tax as it stands. Bills in central London are cheaper than anywhere else in the country whereas bills in deprived parts of the country are the highest due to the higher demand for local services. Replace with LVT or tax related to current property value (instead of 1991) collected centrally and reallocated according to local need.
42
24/11/2020 10:21:27 9 5
bbc
WE NEED TO SECURE A NATIONAL LIVING WAGE ( not a minimum wage ) - A Living Wage means that at least you can live - not having one means that you can't.

PENSIONS - UNIVERSAL CREDIT - BASIC WAGES.

We might be in the same Storm together BUT we are definitely in different Boats.
68
24/11/2020 10:41:11 6 2
bbc
No such thing as a living wage, if all lower paid workers wages were increased so would the price of food, rent, utilities etc and you are back to square one with hyper inflation around the corner. What we need to do is build more social housing and limit rent increases to inflation.
69
24/11/2020 10:41:16 5 2
bbc
The IFS thinks "unprotected" services such as the courts, prisons or local government are vulnerable to cuts.

#

A judge I know says that they had to cut costs by 40%.

Then they had to cut another 40% out of the 60% left.

Now anybody who can get out is getting out ASAP.

Meanwhile we waste money on consumer spending we don't need and can't afford.
311
24/11/2020 13:13:16 1 0
bbc
"we waste money on consumer spending we don't need and can't afford"

So, when I buy a new t-shirt that you tell me I don't need, I'm taking the salary of a court official?

Or does the UK buy me that t-shirt?

I'm confused. You're clearly not.
36
24/11/2020 10:15:38 3 2
bbc
There is no other choice but another 'super tax' on earnings/income £100k+ for 2020/21 onwards supplemented by a reform of CGT on second homes etc.

VAT is a sales tax and if £GBP falls post Brexit/Covid the cost of imported goods/service is going upwards - a VAT rise would hit the most vulnerable just as many wages stagnate (and fall of a cliff for some).
70
24/11/2020 10:42:16 2 2
bbc
A good case for importing less and manufacturing more.
63
24/11/2020 10:36:03 155 18
bbc
Make more. Export more. Import less. Stop relying on making money out of money (usually other people’s) We were in trouble long before Covid.
71
24/11/2020 10:42:36 76 12
bbc
Easier said than done. Reversing 30 years of manufacturing decline won;t happen overnight, In the meantime, our competitors would just react and get stronger. The simple fact is that wages and production costs are lower in the far east.
211
24/11/2020 12:05:57 7 9
bbc
Yes core problem excess pay, with too easy soft non manufacturing jobs, with fat cat pay in the public sector too easily avaliable instead of making stuff. Add in the greedy property and financial based spivs. No wonder no one wants to work making things forva living. Too easy to see you did nothing, no production. Never going to change now, benefits too easy, people soft and expectant.
260
24/11/2020 12:45:49 4 1
bbc
And 30 yrs ago China said, right, now where do we start with manufacturing
270
24/11/2020 12:48:05 3 6
bbc
Green policies arepart of the reason for or decline in manufacturing. The world looks on and laughs as we drive our energy costs higher and higher compsred with asian counties where manufacturing has moved to. The MMGW religion has a lot to answer for.
322
24/11/2020 13:26:02 2 0
bbc
Not when we become post Brexit sweatshop Britain
812
25/11/2020 11:57:19 0 0
bbc
Tough! Then we pay more for stuff, which is mostly stuff we want rather than need anyway. Ever read Maslow?
50
24/11/2020 10:26:46 3 9
bbc
political dynamite. stop pensions apartheid. stop public sector index linked pensions. next to no private sector workers benefit from such luxury.
72
24/11/2020 10:43:22 3 5
bbc
bet any thumbs down comments are from public sector beneficiaries.
73
24/11/2020 10:43:25 7 6
bbc
Johnson boasts Brexit will see Britain a world leader-what, in foreign aid cuts ?
No way to show leadership-it,s a retreat into little Britain and what we had expected after the 2016 referendum.

Come on Britain stop the constant cake and eat it approach .Show world leadership and increase foreign aid particularly in education,and climate change support.
83
24/11/2020 10:47:42 8 4
bbc
Cutting foreign aid just panders to the Daily Express readers who vote Tory anyway. There's no point.

The government prefers to increase defence spending. It's morally bankrupt.
109
24/11/2020 10:59:27 0 0
bbc
You honestly think its a good idea for the UK to borrow £11bil a year and give it away to foreign countries? We already have a generous system for donations to charities
28
24/11/2020 10:11:58 13 5
bbc
Higher income tax on higher earners. Simple and fair.
74
24/11/2020 10:44:43 5 2
bbc
plenty more middle earners who could pay more and loose child benefit, why should poor childless couples subsidise them
493
24/11/2020 16:43:51 1 1
bbc
Im a childfree person. No rebate for schools unattended. NO child benefits etc.. saved the government absolutely thousands
67
24/11/2020 10:37:38 21 2
bbc
Just how are you proposing to tax wealth? Make people with big houses pay more tax which they don't have in the bank, so they need to sell their big house to pay the tax? Any other brilliant ideas?
75
24/11/2020 10:44:45 5 4
bbc
I'd scrap council tax as it stands. Bills in central London are cheaper than anywhere else in the country whereas bills in deprived parts of the country are the highest due to the higher demand for local services. Replace with LVT or tax related to current property value (instead of 1991) collected centrally and reallocated according to local need.
93
24/11/2020 10:52:04 12 2
bbc
Hmm, my council tax is not based on the value of my property in 1991 as it was only built 7 years ago. When I told my local council I should be be Band A they laughed at me and said no, Band C. Anyway your idea fails to address my point on people in big houses not necessarily having the money to pay more without having to sell their houses, and who would they sell to anyway?
3
jon
24/11/2020 09:48:22 14 11
bbc
The present aid target should be cut even if it means a change in the law makes it permanent. We don’t have the money to send overseas and would be paying this from increased borrowing. It’s ridiculous that we are sending aid to China, the second largest economy in the world. We are even sending money to India which has a space programme when our own BAME communities are experiencing inequalities.
76
24/11/2020 10:44:50 0 0
bbc
The government doesn't want to pay for meals for starving kids at home. Britain s the one that needs foreign aid sent to it.
66
24/11/2020 10:38:18 6 4
bbc
Foreign aid cuts may rebound on Britain-the countries affected may buy less British imports.Cuts invariably are not as straight forward as they might appear as those affected can take reprisals.
77
24/11/2020 10:44:52 3 4
bbc
How much of the Foreign aid budget is being used to look after the people coming across from France- and other places- every day? I would imagine that it is now a huge amount.

We do more than our bit when it comes to charitable works around the World and in our own country but we must look after our own people first and foremost as there are enough people in need here already.
48
24/11/2020 10:25:44 82 29
bbc
I mean heaven forbid those who have took millions from the furlough scheme should have to pay some of it back....
78
24/11/2020 10:44:54 26 5
bbc
Nobody chose to be furloughed.

After all this you STILL don't understand how it works? Why?
66
24/11/2020 10:38:18 6 4
bbc
Foreign aid cuts may rebound on Britain-the countries affected may buy less British imports.Cuts invariably are not as straight forward as they might appear as those affected can take reprisals.
79
24/11/2020 10:46:47 6 1
bbc
Agree, cutting foreign aid budget would be counter-productive especially as we are looking to improve relations with RoW and seeking trade deals.
54
24/11/2020 10:29:05 6 9
bbc
Why no mention of dropping the triple lock for pensions, should be based purely on inflation. I get a pension but feel we should do our bit.
80
24/11/2020 10:47:20 4 3
bbc
I disagree, feel free to send Rishi a cheque if it makes you feel better
81
24/11/2020 10:47:37 11 7
bbc
Easy way for UK to create hundreds of Billions overnight:

- Scrap HS2
- Rejoin EU
- Tax self employed tax dodgers paying themselves huge tax avoiding dividends
- Remove Bojo and cabinet with moderate conservatives to salvage the UK reputation and stop fraud and theft of tax payers money

Seems pretty straightforward to me, particularly when Nissan Sunderland looks like its on the way out :(
95
24/11/2020 10:53:20 6 4
bbc
Self employed can't pay themselves dividends.
82
24/11/2020 10:47:39 7 3
bbc
The way the economy is going now and the expected post Brexit slump we should be able to apply for foreign aide from the worlds wealthy countries.

Boris and Rishi will be out begging.

Tax raid coming to a pay packet near you soon.
73
24/11/2020 10:43:25 7 6
bbc
Johnson boasts Brexit will see Britain a world leader-what, in foreign aid cuts ?
No way to show leadership-it,s a retreat into little Britain and what we had expected after the 2016 referendum.

Come on Britain stop the constant cake and eat it approach .Show world leadership and increase foreign aid particularly in education,and climate change support.
83
24/11/2020 10:47:42 8 4
bbc
Cutting foreign aid just panders to the Daily Express readers who vote Tory anyway. There's no point.

The government prefers to increase defence spending. It's morally bankrupt.
104
24/11/2020 10:56:58 0 0
bbc
I give a bit to charity out of my income ... however, unlike the government, I don't borrow from someone else to do this.

Makes you wonder who in their right mind would actually borrow money to give away to someone else, especially while the country is so hard up.
84
24/11/2020 10:48:04 6 4
bbc
If a private person is in debt for more than 100% of his annual income, he would basically be bankrupt, and be forced to live on a very tight budget for years to come. However, now that this situation applies to our common public finances nobody seems to feel responsible, and we just keep borrowing more as if there is no tomorrow.

As my grandmother would say: this can only end in tears.
91
Bob
24/11/2020 10:52:39 7 2
bbc
Anyone with a mortgage is in debt to the tune of many multiples of their annual income, and they will not be declared bankrupt.......
304
24/11/2020 13:09:24 0 0
bbc
And that's probably why you're not in charge of running an economy.

Did you read the article - where everyone agrees endless borrowing is not a good idea?

Do you know that a country with an indefinite lifespan is not the same as a human, and an ecomony that can issue 1000 year bonds is not the same as running a piggy bank with just your thruppeny bits of pocket money?
63
24/11/2020 10:36:03 155 18
bbc
Make more. Export more. Import less. Stop relying on making money out of money (usually other people’s) We were in trouble long before Covid.
85
24/11/2020 10:48:25 13 1
bbc
Agree, we invest too much in property and not British businesses. Been the problem since the 90s. But a problem entirely supported by successive govts.
86
24/11/2020 10:48:30 9 4
bbc
If £40bn of tax rises are needed in the short term then some of this needs to come from the asset rich. Over the past decade with have had inadequate taxation leading to increasing wealth for some and increasing public sector debt. Corporation tax cuts also need to be reversed just as Biden proposes in the US. Germany made no such cuts and still improved their GDP compared with the UK.
97
24/11/2020 10:53:29 6 6
bbc
Cut the International Development foreign aid given to India? India is a nuclear power and has a significant large space programme to Mars and the Moon. It is immoral and outrageous that UK tax payers foreign aid money is being given to India, when it can easily afford to pay its own way.
87
24/11/2020 10:48:52 3 0
bbc
Big 3 do not include:
IPT
Corporation Tax
CGT
IHT
SDLT
46
24/11/2020 10:25:02 11 8
bbc
Those who have benefitted from furlough schemes should be the first to take tax hikes. The system was there as a safety net, they beneffited from it so now its time to return the favour
88
24/11/2020 10:46:45 3 1
bbc
Better still, those of us who weren't furloughed, carried on working and paid for the furlough get a tax credit. £5,000 each should cover it.
496
24/11/2020 16:48:12 0 0
bbc
Wonderful idea Peter
89
24/11/2020 10:51:14 106 18
bbc
Why not cut the International Development foreign aid given to India? India is a nuclear power and has a significant large space programme to Mars and the Moon. It is immoral and outrageous that UK tax payers foreign aid money is being given to India, when it can easily afford to pay its own way.
92
24/11/2020 10:52:40 28 29
bbc
None of the money goes to the Government.
94
24/11/2020 10:53:03 8 5
bbc
Don't expect a world-beating trade deal with India then.
105
24/11/2020 10:57:40 11 5
bbc
Because according to the Brexiters we need FTA with India! So let's start off cutting the foreign aid to them! It's a genius plan!??
375
24/11/2020 14:23:54 4 3
bbc
India has said keep it... they don't want it... UK keeps on giving it though. Nothing to do with India..
433
24/11/2020 15:16:28 1 0
bbc
Won't happen because we want a FTA with India.
580
24/11/2020 21:47:51 0 0
bbc
We're still giving it to China too!
683
25/11/2020 09:02:32 0 0
bbc
if they cut the aid to india they will not send us millions of cheap labour immigrants like they are doing now. when they get enough cheap indians and africans in to the uk they will scrap the minimum wage.
796
25/11/2020 11:11:40 0 0
bbc
In my opinion Foreign Aid should ONLY be given to medium/small countries that cannot afford to help their own (never to India and the rest, as you say, as it their national Govt choice to keep large population poor and spend on vanity projects).
865
25/11/2020 14:07:54 0 0
bbc
We have !! Why not Pakistan that's also a nuclear power We can't support despots but feel we have a moral duty to feed the residents of those countries which help the despots & dictators Not easy Stop undercutting third world food producers by dumping Western subsidised food in their countries the EU is one of the worse for this Level the playing fields support honest Govt will do more than gifts
90
24/11/2020 10:52:23 4 2
bbc
Stooges in a big boy game.

Permeated down from the top, everybody gets their cut, then pass it down to the public....
84
24/11/2020 10:48:04 6 4
bbc
If a private person is in debt for more than 100% of his annual income, he would basically be bankrupt, and be forced to live on a very tight budget for years to come. However, now that this situation applies to our common public finances nobody seems to feel responsible, and we just keep borrowing more as if there is no tomorrow.

As my grandmother would say: this can only end in tears.
91
Bob
24/11/2020 10:52:39 7 2
bbc
Anyone with a mortgage is in debt to the tune of many multiples of their annual income, and they will not be declared bankrupt.......
347
24/11/2020 13:24:03 1 1
bbc
Well duh, because the "bankrupt's" house would be sold to clear the mortgage....
89
24/11/2020 10:51:14 106 18
bbc
Why not cut the International Development foreign aid given to India? India is a nuclear power and has a significant large space programme to Mars and the Moon. It is immoral and outrageous that UK tax payers foreign aid money is being given to India, when it can easily afford to pay its own way.
92
24/11/2020 10:52:40 28 29
bbc
None of the money goes to the Government.
100
24/11/2020 10:54:56 10 6
bbc
India Government should use its own money to pay for its people! It can afford it as it spends $Billions on space programme and nuclear weapons!
103
24/11/2020 10:56:45 13 3
bbc
so even if the money does not go to the gov't, why can't the indian gov't support its own population, ahead of armaments, space programmes etc?
144
24/11/2020 11:18:36 1 4
bbc
You have got to be joking
814
25/11/2020 12:00:58 0 0
bbc
Doesn't matter- we should not be subsidising India, nor any other country come to that. Instead we should have a fund to support countries , friendly to the UK that experience national disaster.
75
24/11/2020 10:44:45 5 4
bbc
I'd scrap council tax as it stands. Bills in central London are cheaper than anywhere else in the country whereas bills in deprived parts of the country are the highest due to the higher demand for local services. Replace with LVT or tax related to current property value (instead of 1991) collected centrally and reallocated according to local need.
93
24/11/2020 10:52:04 12 2
bbc
Hmm, my council tax is not based on the value of my property in 1991 as it was only built 7 years ago. When I told my local council I should be be Band A they laughed at me and said no, Band C. Anyway your idea fails to address my point on people in big houses not necessarily having the money to pay more without having to sell their houses, and who would they sell to anyway?
114
24/11/2020 11:02:34 4 11
bbc
In general if you live in more expensive houses you can afford more than if you don't. Its wrong that those in affluent areas pay smaller council tax bills than those in deprived areas.
89
24/11/2020 10:51:14 106 18
bbc
Why not cut the International Development foreign aid given to India? India is a nuclear power and has a significant large space programme to Mars and the Moon. It is immoral and outrageous that UK tax payers foreign aid money is being given to India, when it can easily afford to pay its own way.
94
24/11/2020 10:53:03 8 5
bbc
Don't expect a world-beating trade deal with India then.
102
24/11/2020 10:55:54 9 9
bbc
No and rightly so. UK should not be funding India's nuclear weapons and military.
81
24/11/2020 10:47:37 11 7
bbc
Easy way for UK to create hundreds of Billions overnight:

- Scrap HS2
- Rejoin EU
- Tax self employed tax dodgers paying themselves huge tax avoiding dividends
- Remove Bojo and cabinet with moderate conservatives to salvage the UK reputation and stop fraud and theft of tax payers money

Seems pretty straightforward to me, particularly when Nissan Sunderland looks like its on the way out :(
95
24/11/2020 10:53:20 6 4
bbc
Self employed can't pay themselves dividends.
122
24/11/2020 11:05:33 6 3
bbc
Really? Create a Ltd Company, pay themselves the zero tax liability limit circa £11k a year in salary, then the rest in low tax dividend pay outs from the Ltd Company. Whilst also claiming tax back on everything from eating out to new garden furniture as a 'company expense'.
For those that pay tax it is actually sickening.
96
24/11/2020 10:53:23 4 6
bbc
Whatever the increase in spending is it won't be enough for the usual moaners and whiners.
101
24/11/2020 10:55:14 6 9
bbc
Yep, the triple lock pensioners always want even more.
86
24/11/2020 10:48:30 9 4
bbc
If £40bn of tax rises are needed in the short term then some of this needs to come from the asset rich. Over the past decade with have had inadequate taxation leading to increasing wealth for some and increasing public sector debt. Corporation tax cuts also need to be reversed just as Biden proposes in the US. Germany made no such cuts and still improved their GDP compared with the UK.
97
24/11/2020 10:53:29 6 6
bbc
Cut the International Development foreign aid given to India? India is a nuclear power and has a significant large space programme to Mars and the Moon. It is immoral and outrageous that UK tax payers foreign aid money is being given to India, when it can easily afford to pay its own way.
287
24/11/2020 12:56:31 2 1
bbc
You keep saying this.

You know full well the money is not a gift to govt.

You also know exactly how, why, where it is spend, and how much it benefits the UK economy

But you hate the idea of brown people not going hungry?
19
24/11/2020 10:03:15 129 39
bbc
Scrap HS2, get a deal with the EU, legalise and regulate cannabis, tax the mega corps and billionaires sufficiently.

Stop punishing the working and middle classes, especially key workers.
98
24/11/2020 10:54:18 91 31
bbc
Legalising and regulating cannabis would bring billions into the country. People are spending money on it anyway, that's not getting taxed, and we're spending money on the police trying to criminalise these people. A cannabis industry in this country would not only bring money in, but it would create jobs and businesses, and free up the police and courts, who now have a massive back log.
127
24/11/2020 11:07:50 18 3
bbc
Agree with most of what you say. legalizing Cannabis on its own could raise £3-£4Bn a year in revenue. More if they considered legalizing other recreational drugs & prostitution. Not to mention the savings in police/courts/prison resources, reduction in associated crime & improved safety (regulated strengths/sources etc.) = reduced pressure on NHS?

Also agree with scrapping HS2 & get deal with EU
155
DG
24/11/2020 11:23:27 6 14
bbc
I think the cannabis bit was meant to be a joke
231
24/11/2020 12:23:52 16 2
bbc
America, Canada and others are leading the charge. If we don’t do this soon, we will lose out on manufacturing and once again rely on importing and losing out on monetising such a vital infrastructure.
391
24/11/2020 14:43:24 9 5
bbc
There's enough dopeheads in the country already.
99
24/11/2020 10:54:35 66 25
bbc
'Four things to look out for'

1. The rich not paying their fair share

2. Everybody else being made poorer

3. Continuing decline of public services and the public sphere

4. Rishi continuing his ("Oh, heaven forbid, not me surely?") push for the top job

PS - on number 4, I'd definitely take him over the current incumbent. Then again, I'd take my paper boy over the current incumbent.
112
24/11/2020 11:00:48 70 11
bbc
Probably worth pointing out that high UK tax earners on regular PAYE have never ever payed so much tax as they do now or such a disproportionate amount of public spending to drive the economy.
Target corporate tax avoidance and self employed tax avoiders. You'd be shocked to hear how many self employed plumbers/ builders pay low tax on £150k + a year.
113
24/11/2020 11:01:00 4 12
bbc
Look out for??? it's what we all voted for . It's what we always vote for.
The opposition is beyond a joke.
130
24/11/2020 11:11:09 12 10
bbc
I see the politics of envy is alive and kicking.
196
24/11/2020 11:56:28 19 5
bbc
"The rich not paying their fair share"

You do realise that the richest 1% of UK taxpayers pay almost 30% of the total amount of income tax ?

Still, never let the truth get in the way of a good story.
427
24/11/2020 15:05:07 3 2
bbc
Define "fair".
617
24/11/2020 23:02:09 2 2
bbc
Real lefty comments here.
92
24/11/2020 10:52:40 28 29
bbc
None of the money goes to the Government.
100
24/11/2020 10:54:56 10 6
bbc
India Government should use its own money to pay for its people! It can afford it as it spends $Billions on space programme and nuclear weapons!
108
24/11/2020 10:59:21 12 5
bbc
So should the UK then, as a nuclear power that doesn't want to feed starving kids during half-term.