| The IFS tearing down Hunt's tax cutting budget 13:36 - Nov 23 with 1331 views | ElderGrizzly |
And their analysis showing he has set a 'trap' for the next chancellor.
https://ifs.org.uk/collections/autumn-statement-2023
"Hunt has paid for tax cuts with unrealistic spending cuts which create huge problems for next chancellor, IFS says:
"The fiscal forecasts have not in any real sense got better. Debt is not declining over time. Taxes are still heading to record levels. Spending is also due to stay high by historic standards, not least because of high debt interest payments. But those payments plus pressures on health and pension spending mean current plans are for some pretty serious cuts across other areas of public spending. How did Mr Hunt afford tax cuts when real economic forecasts got no better? He banked additional revenue from higher inflation, and pencilled in harsher cuts to public spending.
I’m not sure I’d want to be the chancellor inheriting this fiscal situation in a year’s time."
Also goes on to say that for every £4 taken in extra taxes since 2021, Hunt has given just £1 back. [Post edited 23 Nov 2023 13:37]
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| The IFS tearing down Hunt's tax cutting budget on 13:44 - Nov 23 with 1251 views | Zx1988 |
It's all they've got, isn't it?
Chuck the next government a live hand grenade, and hope that it does enough damage that they can waltz back in through the debris in five years' time.
I'm pretty sure that they're also setting a trap with their leasehold reform proposals. The measures as they are will be absolutely destroyed by the Supreme Court/ECHR on an Article 1 challenge by freeholders. All the Tories need to do is make sure that it all gets implemented as close to handover as possible, so that they can blame the new government for scrapping the reforms. |  |
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| The IFS tearing down Hunt's tax cutting budget on 13:48 - Nov 23 with 1241 views | NthQldITFC |
I'm avoiding watching the news at the moment, but I am wondering whether any Freud-Spooner-inspired presenters have mentioned his 'tax huts'?
How can any mature society have a system which relies on honour/decency these days? There's no retrospective accountability and if some wanchor pays 'for tax cuts with unrealistic spending cuts which create huge problems for next chancellor' he can just fk the country up for the majority of the electorate he's supposed to represent.
We should tear the system down rather than just shrugging and saying "that's how it's always been done" or "the market won't like it". We're just riding a pathetic helter skelter of doom into a massive vat of sh!t to drown in unless we force radical reform and bring some accountability into politics and business. |  |
| # WE ARE STEALING THE FUTURE FROM OUR CHILDREN --- WE MUST CHANGE COURSE # | | Poll: | It's driving me nuts |
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| The IFS tearing down Hunt's tax cutting budget on 14:36 - Nov 23 with 1144 views | ElderGrizzly |
| The IFS tearing down Hunt's tax cutting budget on 13:48 - Nov 23 by NthQldITFC |
I'm avoiding watching the news at the moment, but I am wondering whether any Freud-Spooner-inspired presenters have mentioned his 'tax huts'?
How can any mature society have a system which relies on honour/decency these days? There's no retrospective accountability and if some wanchor pays 'for tax cuts with unrealistic spending cuts which create huge problems for next chancellor' he can just fk the country up for the majority of the electorate he's supposed to represent.
We should tear the system down rather than just shrugging and saying "that's how it's always been done" or "the market won't like it". We're just riding a pathetic helter skelter of doom into a massive vat of sh!t to drown in unless we force radical reform and bring some accountability into politics and business. |
And course yesterday's budget helped the richest 20% more than anyone else... | | | |
| The IFS tearing down Hunt's tax cutting budget on 14:47 - Nov 23 with 1127 views | Darth_Koont |
| The IFS tearing down Hunt's tax cutting budget on 13:48 - Nov 23 by NthQldITFC |
I'm avoiding watching the news at the moment, but I am wondering whether any Freud-Spooner-inspired presenters have mentioned his 'tax huts'?
How can any mature society have a system which relies on honour/decency these days? There's no retrospective accountability and if some wanchor pays 'for tax cuts with unrealistic spending cuts which create huge problems for next chancellor' he can just fk the country up for the majority of the electorate he's supposed to represent.
We should tear the system down rather than just shrugging and saying "that's how it's always been done" or "the market won't like it". We're just riding a pathetic helter skelter of doom into a massive vat of sh!t to drown in unless we force radical reform and bring some accountability into politics and business. |
We sold ourselves to the markets with people cashing in as we simultaneously surfed the global growth and cheap debt of the new millennium. That all came down with a crash in 2008 ... except we now had to respond to the market needs by effectively socialising the costs and still privatising the profits.
We’ve been trapped in that unsustainable dependency ever since, as seen by how the enormous pandemic spending propped up companies, shares and dividends rather than people per se. And now with the latest austerity budget that is seeing people get poorer overall, welfare cut and public services at breaking point while we give our low productivity, high financialisation economy every break possible so companies can post better numbers, principally for the benefit of a minority.
We’re not alone in doubling down on the flawed neoliberal model. But you wonder when the penny will drop that we’re no longer seeing that lead to a better, more sustainable and equitable economy and society. So we have to adapt.
I say “we” but of course the higher echelons of our society and certainly the establishment have never had it so good with unimaginable wealth already accumulated or within easy reach of this minority on the right side of that settlement, while insecurity, in-work poverty and the shrinking of opportunities are becoming the new reality for the majority.
And neither a Conservative or centre-right Labour government will change that worth a damn. They’re now both accountable to backers, lobbyists and their own ideology before they’ll address the wider repercussions on people and the planet. |  |
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| The IFS tearing down Hunt's tax cutting budget on 17:05 - Nov 23 with 935 views | davblue |
| The IFS tearing down Hunt's tax cutting budget on 13:44 - Nov 23 by Zx1988 |
It's all they've got, isn't it?
Chuck the next government a live hand grenade, and hope that it does enough damage that they can waltz back in through the debris in five years' time.
I'm pretty sure that they're also setting a trap with their leasehold reform proposals. The measures as they are will be absolutely destroyed by the Supreme Court/ECHR on an Article 1 challenge by freeholders. All the Tories need to do is make sure that it all gets implemented as close to handover as possible, so that they can blame the new government for scrapping the reforms. |
how is that right when the common people are the ones to suffer. It's time people were held accountable for what they do and pledge to get into and run government. |  | | |
| The IFS tearing down Hunt's tax cutting budget on 17:13 - Nov 23 with 916 views | Zx1988 |
| The IFS tearing down Hunt's tax cutting budget on 17:05 - Nov 23 by davblue |
how is that right when the common people are the ones to suffer. It's time people were held accountable for what they do and pledge to get into and run government. |
Because the Tories (and dare I say it, politics) of old are long gone.
The one-nation Tories of old such as Kenneth Clarke and Rory Stewart, who saw one of the key tenets of conservativism as being to use one's privileged position to help those who are less fortunate, have been replaced by crooks and grifters such as Johnson, Truss, and Sunak, who only care about lining their pockets, and the pockets of their wealthy chums.
They don't give a damn about the collateral damage, so long as they can minimise their time away from the trough. | |
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| The IFS tearing down Hunt's tax cutting budget on 18:04 - Nov 23 with 844 views | Swansea_Blue |
| The IFS tearing down Hunt's tax cutting budget on 14:47 - Nov 23 by Darth_Koont |
We sold ourselves to the markets with people cashing in as we simultaneously surfed the global growth and cheap debt of the new millennium. That all came down with a crash in 2008 ... except we now had to respond to the market needs by effectively socialising the costs and still privatising the profits.
We’ve been trapped in that unsustainable dependency ever since, as seen by how the enormous pandemic spending propped up companies, shares and dividends rather than people per se. And now with the latest austerity budget that is seeing people get poorer overall, welfare cut and public services at breaking point while we give our low productivity, high financialisation economy every break possible so companies can post better numbers, principally for the benefit of a minority.
We’re not alone in doubling down on the flawed neoliberal model. But you wonder when the penny will drop that we’re no longer seeing that lead to a better, more sustainable and equitable economy and society. So we have to adapt.
I say “we” but of course the higher echelons of our society and certainly the establishment have never had it so good with unimaginable wealth already accumulated or within easy reach of this minority on the right side of that settlement, while insecurity, in-work poverty and the shrinking of opportunities are becoming the new reality for the majority.
And neither a Conservative or centre-right Labour government will change that worth a damn. They’re now both accountable to backers, lobbyists and their own ideology before they’ll address the wider repercussions on people and the planet. |
But apart from that, it’s all good yeah? |  |
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