CBI calls for more business support before Budget
19/01/2021 | news | business | 96
The business lobby group calls for the extension of support schemes for firms affected by Covid.
1
19/01/2021 10:38:10 16 16
bbc
The government want a low tax, low regulation economy.

Expect a significant erosion of employment rights at a time when so many people are out of work and vulnerable.
9
19/01/2021 10:59:18 4 12
bbc
We know what Tories think of British workers. In 2012, five current Ministers, Patel, Raab, Truss, Kwarteng, and Skidmore co-authored "Britannia Unchained" in which they wrote:
"Once they enter the workplace, the British are among the worst idlers in the world. We work among the lowest hours, we retire early and our productivity is poor."
46
19/01/2021 13:20:21 0 0
bbc
You must concede Employment rights is a barrier to Employment. Pre pandemic in many countries that have had reforms Employment has risen. In regards to the UK Employment right's are already lower than other major European countries. It will be hard for them to fall further without invoking some sort or measures as part of the recent EU deal.
2
19/01/2021 10:38:30 23 16
bbc
Huge amounts of people go unemployed now/very soon & need to claim benefits or we pile more debt onto our children/the future of the UK. Tough choice and either way the debt will just end up with our kids.

Although, given that the decision is going to be made by the rich, right-wing Etonian elite who can only see as far as the next election, I think I know what their decision will be.
zzzzzzzzzzzzzz Removed
3
19/01/2021 10:39:29 17 13
bbc
Easy way for a business to get all the financial support it needs - be a chum of a Minister or a party donor.
4
19/01/2021 10:46:54 8 14
bbc
Only a minority of the electorate voted for this government but despite that they have a complete control over Parliament and government policy or lack of. The majority of the electorate have no influence whatsoever. This isn't the taking back control that Johnson promised.
5
DG
19/01/2021 10:47:22 16 10
bbc
And the Chancellor should scrap the IR35 changes and protect the UKs mobile workforce
12
19/01/2021 11:02:35 4 3
bbc
100% agree. I've seen countless people let go because of this...most of it outsourced to India, etc which means no tax generated and work lost. Disgraceful policy that literally stops small companies working with big ones.
13
19/01/2021 11:07:13 3 5
bbc
Also...those that have no idea what this is or you likely have a permanent job check this out before giving the thumbs down: https://norightsemployee.uk

In short: the tories allow companies to "employ" temps without any protections yet you (the apparent "employee") still pay full perm job tax...so - why would you companies ever employ with perm rights with this encouraged...!!?
26
19/01/2021 11:43:19 4 1
bbc
Interesting how IR35 is being spun by fake news agencies (like norightsemployee) to those who wish to believe them. Never believe a website that fails to tell you who is behind it.
6
19/01/2021 10:47:47 11 5
bbc
I'm surprised it's as low as only 4 in 10 firms that have seen their cash flow drop - Expected it to be double that!
With regard to continued financial help is needed/justified - How longs a piece of string!
Struggling firms need to make some tough decision and it's going to have to end at some point.
7
19/01/2021 10:51:19 8 13
bbc
To quote our prime minister "F**k business" (https://www.bbc.com/news/uk-politics-44618154) Covid19 is bad for our domestic service sector, but Brexit is a bigger threat to our exporting service and manufacturing. Tory ideology is to reduce regulation, tax (on wealth) and benefits. As soon as they can the Tories will cut all assistance to business and people to return to their old ways.
47
19/01/2021 13:20:45 0 0
bbc
Conspiracy theories are rife on the left.
8
19/01/2021 10:54:12 12 15
bbc
The Tories are only interested in helping their donors.

Chumocracy.
36
19/01/2021 12:16:42 6 5
bbc
Politics of envy is worse.
1
19/01/2021 10:38:10 16 16
bbc
The government want a low tax, low regulation economy.

Expect a significant erosion of employment rights at a time when so many people are out of work and vulnerable.
9
19/01/2021 10:59:18 4 12
bbc
We know what Tories think of British workers. In 2012, five current Ministers, Patel, Raab, Truss, Kwarteng, and Skidmore co-authored "Britannia Unchained" in which they wrote:
"Once they enter the workplace, the British are among the worst idlers in the world. We work among the lowest hours, we retire early and our productivity is poor."
29
19/01/2021 11:46:11 6 0
bbc
They weren't wrong.
40
19/01/2021 12:29:57 2 0
bbc
But they are correct - mostly because of reliance on Global ponzi labour
10
19/01/2021 11:00:05 3 14
bbc
Just ask the 2 generations as yet unborn why they should pay for business owners luxury lifestyles?

The 50 somethings have stolen their grandchildrens futures over a set of policies that haven't worked and will cost 600 billion

Doing almost nothing would have only results in few more deaths and probably finished the pandemic an awful lot earlier
17
19/01/2021 11:17:08 8 0
bbc
James
11:00
"Just ask the 2 generations as yet unborn"

-

Erm ...
11
19/01/2021 11:04:03 28 9
bbc
Support business by all means but...this stupid Tory government must stop subsidising the great British ponzi scheme i.e. the housing market... with Stamp Duty holidays, mortgage payment deferrals, Help to 'Sell' schemes etc.

The house building cartel and all in sundry, put up asking prices in return for Tory Party donations has to stop!
65
19/01/2021 13:50:35 6 0
bbc
Well said. The stamp duty cuts just inflated house prices and developer profits.

The next Tory party conference song should be Dirty Cash (Money Talks), The Adventures of Stevie V. The lyrics are very apt.
79
19/01/2021 15:52:44 1 0
bbc
The answer to housing costs is more supply although interest rates at 5% would make them less affordable and reduce prices. This is why so many people go down the buy to let route if they are sat on cash. At 5% banks earn interest of £50 on £1m but at 1% they need to lend £5m so prices need to be higher. Unfortunately will cripple a lot of business if interest goes up as well as some homeowners.
5
DG
19/01/2021 10:47:22 16 10
bbc
And the Chancellor should scrap the IR35 changes and protect the UKs mobile workforce
12
19/01/2021 11:02:35 4 3
bbc
100% agree. I've seen countless people let go because of this...most of it outsourced to India, etc which means no tax generated and work lost. Disgraceful policy that literally stops small companies working with big ones.
5
DG
19/01/2021 10:47:22 16 10
bbc
And the Chancellor should scrap the IR35 changes and protect the UKs mobile workforce
13
19/01/2021 11:07:13 3 5
bbc
Also...those that have no idea what this is or you likely have a permanent job check this out before giving the thumbs down: https://norightsemployee.uk

In short: the tories allow companies to "employ" temps without any protections yet you (the apparent "employee") still pay full perm job tax...so - why would you companies ever employ with perm rights with this encouraged...!!?
19
19/01/2021 11:23:06 4 1
bbc
How is this different to the Agency work I was doing 20 years ago?

Why would companies employ with perm rights - because "casual" labour works both ways.
1
19/01/2021 10:38:10 16 16
bbc
The government want a low tax, low regulation economy.

Expect a significant erosion of employment rights at a time when so many people are out of work and vulnerable.
14
19/01/2021 11:08:00 0 4
bbc
15
19/01/2021 11:09:15 5 10
bbc
Thanks to the tories...

https://norightsemployee.uk

(it's not a joke...!)
18
19/01/2021 11:23:06 4 1
bbc
Why do you think Phony Tony Tory Blair and New Tory accelerated that of self employed with the raft of immigration from the new entrants, coincidence I think not. Part of his globilisation project
2
19/01/2021 10:38:30 23 16
bbc
Huge amounts of people go unemployed now/very soon & need to claim benefits or we pile more debt onto our children/the future of the UK. Tough choice and either way the debt will just end up with our kids.

Although, given that the decision is going to be made by the rich, right-wing Etonian elite who can only see as far as the next election, I think I know what their decision will be.
zzzzzzzzzzzzzz Removed
64
19/01/2021 13:43:59 0 0
bbc
Wow, good one.
10
19/01/2021 11:00:05 3 14
bbc
Just ask the 2 generations as yet unborn why they should pay for business owners luxury lifestyles?

The 50 somethings have stolen their grandchildrens futures over a set of policies that haven't worked and will cost 600 billion

Doing almost nothing would have only results in few more deaths and probably finished the pandemic an awful lot earlier
17
19/01/2021 11:17:08 8 0
bbc
James
11:00
"Just ask the 2 generations as yet unborn"

-

Erm ...
69
19/01/2021 13:47:41 1 0
bbc
Maybe James has a time machine?
15
19/01/2021 11:09:15 5 10
bbc
Thanks to the tories...

https://norightsemployee.uk

(it's not a joke...!)
18
19/01/2021 11:23:06 4 1
bbc
Why do you think Phony Tony Tory Blair and New Tory accelerated that of self employed with the raft of immigration from the new entrants, coincidence I think not. Part of his globilisation project
13
19/01/2021 11:07:13 3 5
bbc
Also...those that have no idea what this is or you likely have a permanent job check this out before giving the thumbs down: https://norightsemployee.uk

In short: the tories allow companies to "employ" temps without any protections yet you (the apparent "employee") still pay full perm job tax...so - why would you companies ever employ with perm rights with this encouraged...!!?
19
19/01/2021 11:23:06 4 1
bbc
How is this different to the Agency work I was doing 20 years ago?

Why would companies employ with perm rights - because "casual" labour works both ways.
20
19/01/2021 11:23:38 8 4
bbc
Enough is enough
21
Ant
19/01/2021 11:28:10 13 7
bbc
What is the objective of a private company? It is the generate profit for its shareholders. Why should the tax payer subsidize the operating costs of private businesses simply so they can continue to generate revenue for themselves?

Where is the benefit to the tax payer? Businesses only offer employment to people whom they choose, not every tax payer, so why should every tax payer subsidize them?
22
19/01/2021 11:33:52 12 8
bbc
I own a company and as a result I generate £250k tax to generate my income.

If I worked for someone else in order to generate the same income I would have to pay £50k tax.

I also provide jobs for 7 other people.

I know it is unpopular that my personal taxation rate is 7.5% lower than PAYE but the truth is that people who set up their own businesses generate far more tax than PAYE employers.
21
Ant
19/01/2021 11:28:10 13 7
bbc
What is the objective of a private company? It is the generate profit for its shareholders. Why should the tax payer subsidize the operating costs of private businesses simply so they can continue to generate revenue for themselves?

Where is the benefit to the tax payer? Businesses only offer employment to people whom they choose, not every tax payer, so why should every tax payer subsidize them?
22
19/01/2021 11:33:52 12 8
bbc
I own a company and as a result I generate £250k tax to generate my income.

If I worked for someone else in order to generate the same income I would have to pay £50k tax.

I also provide jobs for 7 other people.

I know it is unpopular that my personal taxation rate is 7.5% lower than PAYE but the truth is that people who set up their own businesses generate far more tax than PAYE employers.
27
19/01/2021 11:46:26 2 1
bbc
You forget to mention that you also save on employee and employer NI, as well as your personal taxation.

I employ 15 people. I pay myself a proper wage, with PAYE tax and NI, and a dividend if the company does well.
43
19/01/2021 13:00:42 2 0
bbc
You don’t generate any tax . You generate revenue, and hopefully profit, on which tax is payable; in your case with significant benefits/ concessions, in return for the risks you carry. Seems a fair deal.
48
19/01/2021 13:22:14 3 1
bbc
Sorry but that is disingenuous. Your taxation rate if 7.5% lower than PAYE because you're paying yourself in dividends rather than salary. It has not bearing on whether your business generates more tax than PAYE employers.
And you're also not contributing to national insurance etc.
Well done for being successful and generating work for others. But don't be disingenuous about your contribution.
23
19/01/2021 11:36:24 16 2
bbc
We need to make sure that people will be able to pay stupid amounts of money for a cup of coffee or sandwich in the future as we have lost the ability to make them ourselves! :O
44
19/01/2021 13:03:09 2 1
bbc
There are many people who like to eat on the run to save time. I know people had a 40 min commute and paid a fortune for Breakfast to fail to eat it on public transport then to eat in the office. Personally I am unable to leave the house without breakfast.
24
19/01/2021 11:41:45 25 0
bbc
It's been a slippery slope since the banks were bailed out. We were living in a false reality of credit default swaps and collateralised debt obligations back then. Todays narrative of unreality is based on quantitative easing and government bond purchases, to pay for support schemes. But, it's the same old sleepwalking, based on an assumption that the taxpayer ultimately pays. Learned nothing.
34
19/01/2021 12:14:35 9 9
bbc
100% correct
49
19/01/2021 13:25:02 4 0
bbc
Since 2008 most Government borrowing has been through its bank, 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.
51
19/01/2021 13:26:05 3 0
bbc
The BoE has also been, since the 2008 crash, buying back Government bonds from financial institutions, who have in turn bought more Government bonds; and it's been going in that circular motion ever since.

This is all funded by the money conjured out of thin air; it has redirected lots more wealth to the rich, whilst we have been sold the lie we need to repay it through austerity & wage freezes.
52
19/01/2021 13:26:46 4 0
bbc
When interest rates are extremely low or, as they are currently, at a negative rate, institutions are paying the Government to look 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?
54
19/01/2021 13:30:18 4 0
bbc
If people doubt what I am saying they can read up on it here:

https://www.bankofengland.co.uk/monetary-policy/quantitative-easing

https://www.bankofengland.co.uk/markets/market-notices/2020/asset-purchase-facility-additional-corporate-bond-purchases

It's not as if the BoE hides what is happening. Our media, including the BBC, occasionally report it in the middle pages/hidden away.
25
19/01/2021 11:43:01 13 0
bbc
Business rates relief should not be given for a fixed period like the CBI are asking for, but should be given to businesses that are forced to close during lockdown, whilst they are closed.

Also why has a new measure of workers on UK payrolls been invented during the pandemic, that bares no resemblance to the unemployment figures?
42
19/01/2021 12:57:53 1 0
bbc
There are unemployed supported by Taxpayers / There are the amount employed (some of which will be supported by the tax payers) in Theory the more people in employment the better it is. I am unsure if this includes Gig Economy or people on Zero hour contracts
63
19/01/2021 13:43:56 1 0
bbc
too scared to give us the real unemployment figures - shirking from home really isnt keeping the economy afloat!
5
DG
19/01/2021 10:47:22 16 10
bbc
And the Chancellor should scrap the IR35 changes and protect the UKs mobile workforce
26
19/01/2021 11:43:19 4 1
bbc
Interesting how IR35 is being spun by fake news agencies (like norightsemployee) to those who wish to believe them. Never believe a website that fails to tell you who is behind it.
22
19/01/2021 11:33:52 12 8
bbc
I own a company and as a result I generate £250k tax to generate my income.

If I worked for someone else in order to generate the same income I would have to pay £50k tax.

I also provide jobs for 7 other people.

I know it is unpopular that my personal taxation rate is 7.5% lower than PAYE but the truth is that people who set up their own businesses generate far more tax than PAYE employers.
27
19/01/2021 11:46:26 2 1
bbc
You forget to mention that you also save on employee and employer NI, as well as your personal taxation.

I employ 15 people. I pay myself a proper wage, with PAYE tax and NI, and a dividend if the company does well.
28
19/01/2021 11:50:02 16 8
bbc
The Govt has made it clear that helping businesses is a priority as long as they aren't small or you haven't started your business recently.

The Tories are just proving that they are and they remain the party of big business, the international tax avoiders and inherited landowners (which given their funding sources makes sense).

They won't change until people's votes do.
45
19/01/2021 13:17:18 4 5
bbc
A lot of self-employed people vote Conservative because they believe that Labour doesn't like people who strive and want to do well for themselves
9
19/01/2021 10:59:18 4 12
bbc
We know what Tories think of British workers. In 2012, five current Ministers, Patel, Raab, Truss, Kwarteng, and Skidmore co-authored "Britannia Unchained" in which they wrote:
"Once they enter the workplace, the British are among the worst idlers in the world. We work among the lowest hours, we retire early and our productivity is poor."
29
19/01/2021 11:46:11 6 0
bbc
They weren't wrong.
31
19/01/2021 11:59:25 1 1
bbc
Hi Peter,

I've been employing people for the last 14 years, I would suggest that it is your problem not the UK workforce's, I've never had problems employing young, motivated employees who I then train and (in some cases) go on to find even better opportunities for themselves, others have been with me years.

I would take the time to interview and speak with your employees rather than criticise.
30
MVS
19/01/2021 11:51:13 11 7
bbc
Is there ever going to be an end to the demands by every lobby group for the government to find ever larger amounts of money to support every business and individual in this country?
35
19/01/2021 12:15:12 7 11
bbc
We used to have charities for this sort of thing

before they became big business
29
19/01/2021 11:46:11 6 0
bbc
They weren't wrong.
31
19/01/2021 11:59:25 1 1
bbc
Hi Peter,

I've been employing people for the last 14 years, I would suggest that it is your problem not the UK workforce's, I've never had problems employing young, motivated employees who I then train and (in some cases) go on to find even better opportunities for themselves, others have been with me years.

I would take the time to interview and speak with your employees rather than criticise.
70
19/01/2021 13:49:54 1 0
bbc
Rob, I'm an employee and here I am posting on here instead of working....I used to be young and motivated once but now I really struggle to give a toss....
32
19/01/2021 12:07:42 14 9
bbc
Lobby groups are always calling for more g?o?v?e?r?n?m?e?n?t? taxpayer cash.

Just say no Rishi.
57
19/01/2021 13:34:07 3 0
bbc
Even the meme taxpayers cash is misleading... everything is paid for by wealth production produced by the masses.
33
19/01/2021 12:13:45 8 16
bbc
CBI have got even more of a ruddy cheek than Starmer has.
24
19/01/2021 11:41:45 25 0
bbc
It's been a slippery slope since the banks were bailed out. We were living in a false reality of credit default swaps and collateralised debt obligations back then. Todays narrative of unreality is based on quantitative easing and government bond purchases, to pay for support schemes. But, it's the same old sleepwalking, based on an assumption that the taxpayer ultimately pays. Learned nothing.
34
19/01/2021 12:14:35 9 9
bbc
100% correct
30
MVS
19/01/2021 11:51:13 11 7
bbc
Is there ever going to be an end to the demands by every lobby group for the government to find ever larger amounts of money to support every business and individual in this country?
35
19/01/2021 12:15:12 7 11
bbc
We used to have charities for this sort of thing

before they became big business
8
19/01/2021 10:54:12 12 15
bbc
The Tories are only interested in helping their donors.

Chumocracy.
36
19/01/2021 12:16:42 6 5
bbc
Politics of envy is worse.
37
19/01/2021 12:03:24 2 5
bbc
To summarise the thoughts of most HYSers :

Let them all go bust!!!!

....................and then all creditors (including HMRC) will in all likelihood get nothing.

Happy then ??? (silly question I know).
59
19/01/2021 13:37:14 0 1
bbc
3 down votes, but you are actually right... it's very simplistic to think businesses, workers and the unemployed should be left to fend for themselves in light of what the Government has asked them to do.
62
19/01/2021 13:42:49 0 0
bbc
issue is a lot of them are bust already but don't know it yet. Zombie companies take up market share & dont pay much by way of taxes as they dont make much profit. That market share could be taken by stronger/more profitable companies if the zombie ones were actually allowed to die.
38
19/01/2021 12:18:33 2 13
bbc
Is this a think tank again?
39
19/01/2021 12:27:05 11 5
bbc
I hate every group shouting they need more money
Don't most of us? - even the quiet ones?
9
19/01/2021 10:59:18 4 12
bbc
We know what Tories think of British workers. In 2012, five current Ministers, Patel, Raab, Truss, Kwarteng, and Skidmore co-authored "Britannia Unchained" in which they wrote:
"Once they enter the workplace, the British are among the worst idlers in the world. We work among the lowest hours, we retire early and our productivity is poor."
40
19/01/2021 12:29:57 2 0
bbc
But they are correct - mostly because of reliance on Global ponzi labour
41
19/01/2021 12:21:18 11 2
bbc
Ricky Spinach
12:18
Is this a think tank again?

*****

Read the article..............................

...........please.
50
19/01/2021 13:25:56 0 9
bbc
Thank you, yes it is a think tank, thought so.
25
19/01/2021 11:43:01 13 0
bbc
Business rates relief should not be given for a fixed period like the CBI are asking for, but should be given to businesses that are forced to close during lockdown, whilst they are closed.

Also why has a new measure of workers on UK payrolls been invented during the pandemic, that bares no resemblance to the unemployment figures?
42
19/01/2021 12:57:53 1 0
bbc
There are unemployed supported by Taxpayers / There are the amount employed (some of which will be supported by the tax payers) in Theory the more people in employment the better it is. I am unsure if this includes Gig Economy or people on Zero hour contracts
22
19/01/2021 11:33:52 12 8
bbc
I own a company and as a result I generate £250k tax to generate my income.

If I worked for someone else in order to generate the same income I would have to pay £50k tax.

I also provide jobs for 7 other people.

I know it is unpopular that my personal taxation rate is 7.5% lower than PAYE but the truth is that people who set up their own businesses generate far more tax than PAYE employers.
43
19/01/2021 13:00:42 2 0
bbc
You don’t generate any tax . You generate revenue, and hopefully profit, on which tax is payable; in your case with significant benefits/ concessions, in return for the risks you carry. Seems a fair deal.
23
19/01/2021 11:36:24 16 2
bbc
We need to make sure that people will be able to pay stupid amounts of money for a cup of coffee or sandwich in the future as we have lost the ability to make them ourselves! :O
44
19/01/2021 13:03:09 2 1
bbc
There are many people who like to eat on the run to save time. I know people had a 40 min commute and paid a fortune for Breakfast to fail to eat it on public transport then to eat in the office. Personally I am unable to leave the house without breakfast.
28
19/01/2021 11:50:02 16 8
bbc
The Govt has made it clear that helping businesses is a priority as long as they aren't small or you haven't started your business recently.

The Tories are just proving that they are and they remain the party of big business, the international tax avoiders and inherited landowners (which given their funding sources makes sense).

They won't change until people's votes do.
45
19/01/2021 13:17:18 4 5
bbc
A lot of self-employed people vote Conservative because they believe that Labour doesn't like people who strive and want to do well for themselves
77
19/01/2021 15:18:56 1 0
bbc
I was a small business owner until 3 years ago, when the Tories made me several thousand pounds a year worse off, with their vindictive IR35 changes.

So I would prefer a Labour government, as they look after the little guys like me, rather than corporate donors.
1
19/01/2021 10:38:10 16 16
bbc
The government want a low tax, low regulation economy.

Expect a significant erosion of employment rights at a time when so many people are out of work and vulnerable.
46
19/01/2021 13:20:21 0 0
bbc
You must concede Employment rights is a barrier to Employment. Pre pandemic in many countries that have had reforms Employment has risen. In regards to the UK Employment right's are already lower than other major European countries. It will be hard for them to fall further without invoking some sort or measures as part of the recent EU deal.
7
19/01/2021 10:51:19 8 13
bbc
To quote our prime minister "F**k business" (https://www.bbc.com/news/uk-politics-44618154) Covid19 is bad for our domestic service sector, but Brexit is a bigger threat to our exporting service and manufacturing. Tory ideology is to reduce regulation, tax (on wealth) and benefits. As soon as they can the Tories will cut all assistance to business and people to return to their old ways.
47
19/01/2021 13:20:45 0 0
bbc
Conspiracy theories are rife on the left.
22
19/01/2021 11:33:52 12 8
bbc
I own a company and as a result I generate £250k tax to generate my income.

If I worked for someone else in order to generate the same income I would have to pay £50k tax.

I also provide jobs for 7 other people.

I know it is unpopular that my personal taxation rate is 7.5% lower than PAYE but the truth is that people who set up their own businesses generate far more tax than PAYE employers.
48
19/01/2021 13:22:14 3 1
bbc
Sorry but that is disingenuous. Your taxation rate if 7.5% lower than PAYE because you're paying yourself in dividends rather than salary. It has not bearing on whether your business generates more tax than PAYE employers.
And you're also not contributing to national insurance etc.
Well done for being successful and generating work for others. But don't be disingenuous about your contribution.
68
19/01/2021 13:47:09 3 1
bbc
PAYE salaries are tax deductible, so if Rob pays himself mostly in dividends his company will pay a lot more corporation tax. The only actual saving for a director/shareholder taking low salary and dividends is in National Insurance. Everyone should try and pay as little NI as possible as HMG mostly spunk it on benefits.
24
19/01/2021 11:41:45 25 0
bbc
It's been a slippery slope since the banks were bailed out. We were living in a false reality of credit default swaps and collateralised debt obligations back then. Todays narrative of unreality is based on quantitative easing and government bond purchases, to pay for support schemes. But, it's the same old sleepwalking, based on an assumption that the taxpayer ultimately pays. Learned nothing.
49
19/01/2021 13:25:02 4 0
bbc
Since 2008 most Government borrowing has been through its bank, 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.
41
19/01/2021 12:21:18 11 2
bbc
Ricky Spinach
12:18
Is this a think tank again?

*****

Read the article..............................

...........please.
50
19/01/2021 13:25:56 0 9
bbc
Thank you, yes it is a think tank, thought so.
24
19/01/2021 11:41:45 25 0
bbc
It's been a slippery slope since the banks were bailed out. We were living in a false reality of credit default swaps and collateralised debt obligations back then. Todays narrative of unreality is based on quantitative easing and government bond purchases, to pay for support schemes. But, it's the same old sleepwalking, based on an assumption that the taxpayer ultimately pays. Learned nothing.
51
19/01/2021 13:26:05 3 0
bbc
The BoE has also been, since the 2008 crash, buying back Government bonds from financial institutions, who have in turn bought more Government bonds; and it's been going in that circular motion ever since.

This is all funded by the money conjured out of thin air; it has redirected lots more wealth to the rich, whilst we have been sold the lie we need to repay it through austerity & wage freezes.
24
19/01/2021 11:41:45 25 0
bbc
It's been a slippery slope since the banks were bailed out. We were living in a false reality of credit default swaps and collateralised debt obligations back then. Todays narrative of unreality is based on quantitative easing and government bond purchases, to pay for support schemes. But, it's the same old sleepwalking, based on an assumption that the taxpayer ultimately pays. Learned nothing.
52
19/01/2021 13:26:46 4 0
bbc
When interest rates are extremely low or, as they are currently, at a negative rate, institutions are paying the Government to look 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?
53
19/01/2021 13:28:11 1 2
bbc
Has anyone not had their begging bowl out yet for our future taxes? One final push from this controlled society and we’ll be there without a whimper.
72
BD
19/01/2021 14:33:39 0 2
bbc
Me for one.
I have not received or claimed any financial support, though lack of £s have been tough.
I have also been careful with my lifestyle, social interactions etc. Personally I do not consider this to be 'controlled', just sensible.
You sound somewhat paranoid to say the least ...
24
19/01/2021 11:41:45 25 0
bbc
It's been a slippery slope since the banks were bailed out. We were living in a false reality of credit default swaps and collateralised debt obligations back then. Todays narrative of unreality is based on quantitative easing and government bond purchases, to pay for support schemes. But, it's the same old sleepwalking, based on an assumption that the taxpayer ultimately pays. Learned nothing.
54
19/01/2021 13:30:18 4 0
bbc
If people doubt what I am saying they can read up on it here:

https://www.bankofengland.co.uk/monetary-policy/quantitative-easing

https://www.bankofengland.co.uk/markets/market-notices/2020/asset-purchase-facility-additional-corporate-bond-purchases

It's not as if the BoE hides what is happening. Our media, including the BBC, occasionally report it in the middle pages/hidden away.
55
19/01/2021 13:11:42 3 5
bbc
Nothing From Sunak regarding The bounce back Scheme so all the business people who took it out plus the top up have been hung out to dry Tax payers billions wasted by Sunak when these firms go bankrupt yet these people would have had to pay it all back not like all the other schemes free money this government is a disgrace the ballot box will show this in the future
58
19/01/2021 13:35:37 0 2
bbc
Why the thumb down ????
56
19/01/2021 13:32:43 11 2
bbc
Huge sympathy for genuine businesses who have been trashed by pandemic.

However, no sympathy for limited company directors who paid dividends thus avoiding tax; no sympathy for financial services firms who have encouraged manufacturing job losses export to China to line their pockets; no sympathy for those who are doing "quite nicely" from schemes & government money despite not needing it..
60
19/01/2021 13:38:57 4 0
bbc
And heartily fed up with not one person asking what, those leading with their hands out, have done with the profits from earlier years....oh yes, paid themselves massive bonuses - the taxpayer cannot keep funding incompetence and greed
32
19/01/2021 12:07:42 14 9
bbc
Lobby groups are always calling for more g?o?v?e?r?n?m?e?n?t? taxpayer cash.

Just say no Rishi.
57
19/01/2021 13:34:07 3 0
bbc
Even the meme taxpayers cash is misleading... everything is paid for by wealth production produced by the masses.
55
19/01/2021 13:11:42 3 5
bbc
Nothing From Sunak regarding The bounce back Scheme so all the business people who took it out plus the top up have been hung out to dry Tax payers billions wasted by Sunak when these firms go bankrupt yet these people would have had to pay it all back not like all the other schemes free money this government is a disgrace the ballot box will show this in the future
58
19/01/2021 13:35:37 0 2
bbc
Why the thumb down ????
37
19/01/2021 12:03:24 2 5
bbc
To summarise the thoughts of most HYSers :

Let them all go bust!!!!

....................and then all creditors (including HMRC) will in all likelihood get nothing.

Happy then ??? (silly question I know).
59
19/01/2021 13:37:14 0 1
bbc
3 down votes, but you are actually right... it's very simplistic to think businesses, workers and the unemployed should be left to fend for themselves in light of what the Government has asked them to do.
56
19/01/2021 13:32:43 11 2
bbc
Huge sympathy for genuine businesses who have been trashed by pandemic.

However, no sympathy for limited company directors who paid dividends thus avoiding tax; no sympathy for financial services firms who have encouraged manufacturing job losses export to China to line their pockets; no sympathy for those who are doing "quite nicely" from schemes & government money despite not needing it..
60
19/01/2021 13:38:57 4 0
bbc
And heartily fed up with not one person asking what, those leading with their hands out, have done with the profits from earlier years....oh yes, paid themselves massive bonuses - the taxpayer cannot keep funding incompetence and greed
61
19/01/2021 13:39:49 8 1
bbc
How many of the 819,000 fewer workers no longeron the payroll took early retirement? What with covid-19 & Brexit disruption I know I wish I could afford to say F**k it & retire a couple of years ahead of schedule.

Will be a huge loss of experience across industries that will hamper recovery though.
37
19/01/2021 12:03:24 2 5
bbc
To summarise the thoughts of most HYSers :

Let them all go bust!!!!

....................and then all creditors (including HMRC) will in all likelihood get nothing.

Happy then ??? (silly question I know).
62
19/01/2021 13:42:49 0 0
bbc
issue is a lot of them are bust already but don't know it yet. Zombie companies take up market share & dont pay much by way of taxes as they dont make much profit. That market share could be taken by stronger/more profitable companies if the zombie ones were actually allowed to die.
25
19/01/2021 11:43:01 13 0
bbc
Business rates relief should not be given for a fixed period like the CBI are asking for, but should be given to businesses that are forced to close during lockdown, whilst they are closed.

Also why has a new measure of workers on UK payrolls been invented during the pandemic, that bares no resemblance to the unemployment figures?
63
19/01/2021 13:43:56 1 0
bbc
too scared to give us the real unemployment figures - shirking from home really isnt keeping the economy afloat!
zzzzzzzzzzzzzz Removed
64
19/01/2021 13:43:59 0 0
bbc
Wow, good one.
11
19/01/2021 11:04:03 28 9
bbc
Support business by all means but...this stupid Tory government must stop subsidising the great British ponzi scheme i.e. the housing market... with Stamp Duty holidays, mortgage payment deferrals, Help to 'Sell' schemes etc.

The house building cartel and all in sundry, put up asking prices in return for Tory Party donations has to stop!
65
19/01/2021 13:50:35 6 0
bbc
Well said. The stamp duty cuts just inflated house prices and developer profits.

The next Tory party conference song should be Dirty Cash (Money Talks), The Adventures of Stevie V. The lyrics are very apt.
66
19/01/2021 13:57:49 5 2
bbc
I guess we are all sympathetic but after hearing of the BILLIONS of tax paid money thrown to waste or given to Tory Brexit doners to line their own pockets it really is too much.

Plus its so sad to hear of the millions of self employed workers happily avoiding tax and therefore not supporting our NHS, police and front line workers.

Our grandchildren will be paying off this debt sadly.
67
19/01/2021 13:44:48 0 0
bbc
Martin
13:32
Huge sympathy for genuine businesses who have been trashed by pandemic.

...........the rest of the post is just mindless stereotyping guff.

*********

Are you in business (purely for research purposes)??
48
19/01/2021 13:22:14 3 1
bbc
Sorry but that is disingenuous. Your taxation rate if 7.5% lower than PAYE because you're paying yourself in dividends rather than salary. It has not bearing on whether your business generates more tax than PAYE employers.
And you're also not contributing to national insurance etc.
Well done for being successful and generating work for others. But don't be disingenuous about your contribution.
68
19/01/2021 13:47:09 3 1
bbc
PAYE salaries are tax deductible, so if Rob pays himself mostly in dividends his company will pay a lot more corporation tax. The only actual saving for a director/shareholder taking low salary and dividends is in National Insurance. Everyone should try and pay as little NI as possible as HMG mostly spunk it on benefits.
17
19/01/2021 11:17:08 8 0
bbc
James
11:00
"Just ask the 2 generations as yet unborn"

-

Erm ...
69
19/01/2021 13:47:41 1 0
bbc
Maybe James has a time machine?
31
19/01/2021 11:59:25 1 1
bbc
Hi Peter,

I've been employing people for the last 14 years, I would suggest that it is your problem not the UK workforce's, I've never had problems employing young, motivated employees who I then train and (in some cases) go on to find even better opportunities for themselves, others have been with me years.

I would take the time to interview and speak with your employees rather than criticise.
70
19/01/2021 13:49:54 1 0
bbc
Rob, I'm an employee and here I am posting on here instead of working....I used to be young and motivated once but now I really struggle to give a toss....
71
BD
19/01/2021 14:28:39 1 0
bbc
Agree with Martin, Huge sympathy for genuine businesses who have been trashed by pandemic.
But, and a genuine Q as I have not come across any follow-up:
Earlier last year a scheme for £1k/employee payment if kept on until January was announced.
When furlough was subsequently extended, was this scheme scrapped ... or are there to be 'double payments'?
53
19/01/2021 13:28:11 1 2
bbc
Has anyone not had their begging bowl out yet for our future taxes? One final push from this controlled society and we’ll be there without a whimper.
72
BD
19/01/2021 14:33:39 0 2
bbc
Me for one.
I have not received or claimed any financial support, though lack of £s have been tough.
I have also been careful with my lifestyle, social interactions etc. Personally I do not consider this to be 'controlled', just sensible.
You sound somewhat paranoid to say the least ...
73
19/01/2021 14:34:20 3 0
bbc
If the end customer / user has the funds to keep buying the service / product then if its needed the company supplying will flourish, everyone benefits.

If you only fund the company then most of the benefit goes to the owners / managers of the company. Only a 'lucky' few benefit.

Just a thought.
74
19/01/2021 15:01:56 3 2
bbc
The Chancellor needs to levy an excess profits tax of 60% on all companies that have profited from the pandemic. This should GBP 200 billion plus.

This policy was adopted during both world wars during the previous century and there is no reason why it should not be done again.

The raising of emergency liquidity at the start of the pandemic boosted asset values allowing a free ride for some.
75
19/01/2021 15:19:26 2 2
bbc
Just so relieved that we have such a seasoned and experienced Government for leading us into the light....

Cough...
76
19/01/2021 15:22:24 0 2
bbc
I would like the CBI to have called for additional support for the next 12 months and then suggested an increase in corporation tax for all businesses to repay the support to them and their employees over the last 10 months
45
19/01/2021 13:17:18 4 5
bbc
A lot of self-employed people vote Conservative because they believe that Labour doesn't like people who strive and want to do well for themselves
77
19/01/2021 15:18:56 1 0
bbc
I was a small business owner until 3 years ago, when the Tories made me several thousand pounds a year worse off, with their vindictive IR35 changes.

So I would prefer a Labour government, as they look after the little guys like me, rather than corporate donors.
78
19/01/2021 15:34:58 3 2
bbc
the cabinet are millionaires they must know what they are doing ?
80
19/01/2021 16:13:47 4 0
bbc
How many inherited or married money? Struggling to think of any who made their money through hard work & entrepreneurial skill!??
91
20/01/2021 07:19:34 0 0
bbc
how many of the Labour front bench are millionaires??
same old do as i tell you, not do as i do, double standards.
11
19/01/2021 11:04:03 28 9
bbc
Support business by all means but...this stupid Tory government must stop subsidising the great British ponzi scheme i.e. the housing market... with Stamp Duty holidays, mortgage payment deferrals, Help to 'Sell' schemes etc.

The house building cartel and all in sundry, put up asking prices in return for Tory Party donations has to stop!
79
19/01/2021 15:52:44 1 0
bbc
The answer to housing costs is more supply although interest rates at 5% would make them less affordable and reduce prices. This is why so many people go down the buy to let route if they are sat on cash. At 5% banks earn interest of £50 on £1m but at 1% they need to lend £5m so prices need to be higher. Unfortunately will cripple a lot of business if interest goes up as well as some homeowners.
78
19/01/2021 15:34:58 3 2
bbc
the cabinet are millionaires they must know what they are doing ?
80
19/01/2021 16:13:47 4 0
bbc
How many inherited or married money? Struggling to think of any who made their money through hard work & entrepreneurial skill!??
81
19/01/2021 16:21:31 2 1
bbc
There is no point in the CBI. A parasitic organisation latched onto 'Business' with no thought whatsoever for the workers.
84
19/01/2021 16:39:59 2 2
bbc
The only organisations that actually care about workers are the unions! I predict that more unions & increased membership will be a direct result of the Tory "Race To The Bottom"!??
82
19/01/2021 16:34:54 1 2
bbc
Business secretary Kwasi Kwarteng confirmed his department is reviewing how EU employment rights protections could be changed after Brexit

There's the help business will get from the govt, being allowed to drag society back a few generations and increase many divides
83
19/01/2021 16:38:17 1 3
bbc
Tory help for businesses is to make it so much easier to hire & fire as & when needed, plus lower working standards & worker protection! It's another Brexit Bonus! ??
82
19/01/2021 16:34:54 1 2
bbc
Business secretary Kwasi Kwarteng confirmed his department is reviewing how EU employment rights protections could be changed after Brexit

There's the help business will get from the govt, being allowed to drag society back a few generations and increase many divides
83
19/01/2021 16:38:17 1 3
bbc
Tory help for businesses is to make it so much easier to hire & fire as & when needed, plus lower working standards & worker protection! It's another Brexit Bonus! ??
92
20/01/2021 09:11:39 1 0
bbc
If we can now set our own labour laws, time for the UK Working Time directive ( 40 hrs per week )
81
19/01/2021 16:21:31 2 1
bbc
There is no point in the CBI. A parasitic organisation latched onto 'Business' with no thought whatsoever for the workers.
84
19/01/2021 16:39:59 2 2
bbc
The only organisations that actually care about workers are the unions! I predict that more unions & increased membership will be a direct result of the Tory "Race To The Bottom"!??
85
19/01/2021 17:07:08 1 2
bbc
So the CBI says the Govt needs to give more financial aid to struggling firms ahead of the Budget, calling for the furlough scheme & business rates relief should being extended!

If you watch the HoC debate on the trade bill, businesses are in trouble! The Tory Govt intends doing business with anyone including countries who abuse human rights & even those who commit genocide! How do we compete???
86
19/01/2021 18:10:23 1 1
bbc
We've been selling arms to countries who we know use them for genocidal acts, for generations

It's grotesque and utterly inhuman, but it's not new
85
19/01/2021 17:07:08 1 2
bbc
So the CBI says the Govt needs to give more financial aid to struggling firms ahead of the Budget, calling for the furlough scheme & business rates relief should being extended!

If you watch the HoC debate on the trade bill, businesses are in trouble! The Tory Govt intends doing business with anyone including countries who abuse human rights & even those who commit genocide! How do we compete???
86
19/01/2021 18:10:23 1 1
bbc
We've been selling arms to countries who we know use them for genocidal acts, for generations

It's grotesque and utterly inhuman, but it's not new
88
19/01/2021 21:48:20 1 0
bbc
I thought we were "global Britain" bestriding the global stage & setting the standards? Then I realised Boris was PM & started laughing!??
87
19/01/2021 20:14:01 0 1
bbc
The same CBI that stood hand in hand with the government and TUC on the awful orginal winter deal? They are about as credible as the government.
86
19/01/2021 18:10:23 1 1
bbc
We've been selling arms to countries who we know use them for genocidal acts, for generations

It's grotesque and utterly inhuman, but it's not new
88
19/01/2021 21:48:20 1 0
bbc
I thought we were "global Britain" bestriding the global stage & setting the standards? Then I realised Boris was PM & started laughing!??
89
20/01/2021 06:27:26 1 0
bbc
If the government are going to scrap the 48 hr working time directive then they must also outlaw unpaid overtime.
90
20/01/2021 07:16:28 1 0
bbc
The Government should look at replacing Business and Council Tax with a VAT increase. They could also explore decreasing or abolishing Income Tax for a VAT increase. Then all in the country would pay into the system. no tax avoidance and no passengers.
78
19/01/2021 15:34:58 3 2
bbc
the cabinet are millionaires they must know what they are doing ?
91
20/01/2021 07:19:34 0 0
bbc
how many of the Labour front bench are millionaires??
same old do as i tell you, not do as i do, double standards.
83
19/01/2021 16:38:17 1 3
bbc
Tory help for businesses is to make it so much easier to hire & fire as & when needed, plus lower working standards & worker protection! It's another Brexit Bonus! ??
92
20/01/2021 09:11:39 1 0
bbc
If we can now set our own labour laws, time for the UK Working Time directive ( 40 hrs per week )
93
20/01/2021 10:12:31 1 0
bbc
UK politics, busines economy and society is beginning to look like a slow motion train wreck.
94
20/01/2021 10:33:54 1 0
bbc
But it's even worse as it could've been avoided!??
93
20/01/2021 10:12:31 1 0
bbc
UK politics, busines economy and society is beginning to look like a slow motion train wreck.
94
20/01/2021 10:33:54 1 0
bbc
But it's even worse as it could've been avoided!??
95
20/01/2021 13:36:27 0 0
bbc
Let's not forget that when Patel was going on about closing the borders early last year, she was specifically referring to India and Pakistan - which were not the main COVID threat.

It was an immigration issue tightly bound with how the Brexit saga was panning out at the time.