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Protests in Norwich already on 21:56 - Aug 10 by Nthsuffolkblue
I think we need to close the legal loopholes that allow the super-rich to pay accountants to ensure they pay very little tax. There are plenty of schemes that are designed to allow this. This would provide a lot to fund public services without needing to raise taxation levels, increase Government borrowing or blame immigrants for all our economic woes.
Ensuring illegal tax evasion is recouped as well goes hand-in-hand with this.
Unfortunately the richest are very good at claiming this just isn't possible and it is fairer for the less well-off to pay the burden. Look at the scaremongering over inheritance tax changes that would only actually affect those who are worth well over £1M but people nowhere near that bracket fear it.
Totally agree on your last point, the media whips up fear around any tax changes which aren’t going to affect 99pc of people.
On tax avoidance though - there’s a lot of naivety round that, it’s not like the various governments we’ve had just ignore it. Look at this current administration they are desperate for funds. Tax avoidance by its nature is legal - even us paying into an ISA is avoiding tax. The government are constantly closing loopholes, but it’s very much a case of chasing their tale. New mechanisms are constantly devised to move capital offshore.
The underlying issue there is globalisation - as long as we have jurisdictions willing to drive a race to the bottom, we are going to lose tax take. We need much more international leadership on this point, which was happening under Biden with a Global Minimum Tax system, but it’s hard to see the current US administration continuing work on this.
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Protests in Norwich already on 07:54 - Aug 11 with 689 views
Protests in Norwich already on 06:11 - Aug 11 by MJallday
I bet life in the 60329006 household is fun.
When you’re not on Twitter, someone’s feed shows up a seemingly random selection of mostly older tweets. A quick glance at her profile throws this up this beauty:
“I’m 50 this year and when I was at school my here was no stabbings , there was no trans kids, there was no autism, there was no food allergies.:. wtf has changed? How many vaccines to children have? How many non natives do we have ? So sad how once a Great Britain has fallen”
Her daughter appears equally angry and appears to be seeing a ‘journalist’ working for VoxPopuli Media (whoever they are). His feed is rammed full of attacks on migrants, often mischaracterising content (US accents and signs in supposed UK ‘incidents’.
I don’t know how you reach/save people like this. I want to feel sympathy for them (they have been radicalised after all), but they’re causing so much damage it’s hard not to just despise them.
Totally agree on your last point, the media whips up fear around any tax changes which aren’t going to affect 99pc of people.
On tax avoidance though - there’s a lot of naivety round that, it’s not like the various governments we’ve had just ignore it. Look at this current administration they are desperate for funds. Tax avoidance by its nature is legal - even us paying into an ISA is avoiding tax. The government are constantly closing loopholes, but it’s very much a case of chasing their tale. New mechanisms are constantly devised to move capital offshore.
The underlying issue there is globalisation - as long as we have jurisdictions willing to drive a race to the bottom, we are going to lose tax take. We need much more international leadership on this point, which was happening under Biden with a Global Minimum Tax system, but it’s hard to see the current US administration continuing work on this.
Broadly I think this is right but are you perhaps conflating personal and corporate taxation in your second paragraph? Very difficult with common reporting standards (CRS) now for individuals to just move money offshore and evade tax.
There was though a huge fiscal transfer in covid from the public to private sector.
So if people are asking "WHERE IS THE MONEY", perhaps looking at the health of private sector balance sheets pre and post covid might be a good place to start. And the increase in dividends and buy backs of certain large UK companies too...
The rest of government debt is either owned by the BoE or pension funds. Which most of us in this thread will profit from.
So, corporate taxation reform is probably the answer to the question in the short term, as you suggest in your last paragraph.
In the long term, they will desperately need to get growth going but these are huge structural issues that have persisted for the last two decades and I don't think can be solved by politicians who have to think in 5 year cycles.
[Post edited 11 Aug 8:54]
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Protests in Norwich already on 08:48 - Aug 11 with 617 views
Protests in Norwich already on 07:54 - Aug 11 by Swansea_Blue
When you’re not on Twitter, someone’s feed shows up a seemingly random selection of mostly older tweets. A quick glance at her profile throws this up this beauty:
“I’m 50 this year and when I was at school my here was no stabbings , there was no trans kids, there was no autism, there was no food allergies.:. wtf has changed? How many vaccines to children have? How many non natives do we have ? So sad how once a Great Britain has fallen”
Her daughter appears equally angry and appears to be seeing a ‘journalist’ working for VoxPopuli Media (whoever they are). His feed is rammed full of attacks on migrants, often mischaracterising content (US accents and signs in supposed UK ‘incidents’.
I don’t know how you reach/save people like this. I want to feel sympathy for them (they have been radicalised after all), but they’re causing so much damage it’s hard not to just despise them.
Protests in Norwich already on 08:40 - Aug 11 by nrb1985
Broadly I think this is right but are you perhaps conflating personal and corporate taxation in your second paragraph? Very difficult with common reporting standards (CRS) now for individuals to just move money offshore and evade tax.
There was though a huge fiscal transfer in covid from the public to private sector.
So if people are asking "WHERE IS THE MONEY", perhaps looking at the health of private sector balance sheets pre and post covid might be a good place to start. And the increase in dividends and buy backs of certain large UK companies too...
The rest of government debt is either owned by the BoE or pension funds. Which most of us in this thread will profit from.
So, corporate taxation reform is probably the answer to the question in the short term, as you suggest in your last paragraph.
In the long term, they will desperately need to get growth going but these are huge structural issues that have persisted for the last two decades and I don't think can be solved by politicians who have to think in 5 year cycles.
[Post edited 11 Aug 8:54]
I was approaching it from a commercial point of view rather than individual (ISA was just an example). In the corporate world there are many mechanisms for shifting capital to other jurisdictions for ‘tax efficiency’. Back when we had mostly domestic firms that wasn’t so much an issue, but in a global age it’s relatively easy (and there are many legitimate reasons to do so). Unfortunately it very much is a race to the bottom - once a company gets an edge over their competitors, it’s inevitable they will follow.
Perhaps the most effective way to combat this is large scale boycott of the companies. How many people complain about offshoring profits, whilst continuing to fund firms like Amazon.
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Protests in Norwich already on 09:21 - Aug 11 with 528 views
I was approaching it from a commercial point of view rather than individual (ISA was just an example). In the corporate world there are many mechanisms for shifting capital to other jurisdictions for ‘tax efficiency’. Back when we had mostly domestic firms that wasn’t so much an issue, but in a global age it’s relatively easy (and there are many legitimate reasons to do so). Unfortunately it very much is a race to the bottom - once a company gets an edge over their competitors, it’s inevitable they will follow.
Perhaps the most effective way to combat this is large scale boycott of the companies. How many people complain about offshoring profits, whilst continuing to fund firms like Amazon.
I think that's right at the end of your first paragraph - thus I do think their needs to be a bit more creative thinking, because just trying to tax the money back might not be simple as you say.
I would quite like to see partnerships whereby funding for certain public services is provided by private sector "sponsorship" rather than taxation.
An issue close to my heart for example, is the defunding of youth services. So why not have something like "After school clubs in association with Tesco/Ocado etc" for example.
These large listed companies all have ESG goals now they need to hit so it works for them and they can also build some brand loyalty with youngsters too.
[Post edited 11 Aug 9:22]
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Protests in Norwich already on 09:34 - Aug 11 with 481 views
Protests in Norwich already on 09:21 - Aug 11 by nrb1985
I think that's right at the end of your first paragraph - thus I do think their needs to be a bit more creative thinking, because just trying to tax the money back might not be simple as you say.
I would quite like to see partnerships whereby funding for certain public services is provided by private sector "sponsorship" rather than taxation.
An issue close to my heart for example, is the defunding of youth services. So why not have something like "After school clubs in association with Tesco/Ocado etc" for example.
These large listed companies all have ESG goals now they need to hit so it works for them and they can also build some brand loyalty with youngsters too.
[Post edited 11 Aug 9:22]
Year of the Depend Adult Undergarment
In the spirit of reconciliation and happiness at the end of the Banter Era (RIP) and as a result of promotion I have cleared out my ignore list. Look forwards to reading your posts!
Protests in Norwich already on 09:21 - Aug 11 by nrb1985
I think that's right at the end of your first paragraph - thus I do think their needs to be a bit more creative thinking, because just trying to tax the money back might not be simple as you say.
I would quite like to see partnerships whereby funding for certain public services is provided by private sector "sponsorship" rather than taxation.
An issue close to my heart for example, is the defunding of youth services. So why not have something like "After school clubs in association with Tesco/Ocado etc" for example.
These large listed companies all have ESG goals now they need to hit so it works for them and they can also build some brand loyalty with youngsters too.
[Post edited 11 Aug 9:22]
What a bleak outlook. We should be trying to separate public and private entities, not further integrate them.
What happens as soon as ESG becomes unfashionable?
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Protests in Norwich already on 11:27 - Aug 11 with 316 views
Protests in Norwich already on 11:27 - Aug 11 by bartyg
What a bleak outlook. We should be trying to separate public and private entities, not further integrate them.
What happens as soon as ESG becomes unfashionable?
Trusting private companies to act for the good of society rather than in the sole interest of profit for shareholders has worked tremendously well to date. We've managed to eliminate almost all social and environmental problems by putting our faith in the free market. Long live laissez faire capitalism, I say.
Protests in Norwich already on 11:27 - Aug 11 by bartyg
What a bleak outlook. We should be trying to separate public and private entities, not further integrate them.
What happens as soon as ESG becomes unfashionable?
Having lived in Switzerland for the last 8 years, I can tell you these things work just fine.
The Swiss manage to combine a pretty libertarian, free-market approach to much of the economy with a healthy dose of socialism where it makes sense — nationalised railways and utilities, rent controls, stronger tenant rights, etc. The result is a very enviable standard of living and high degrees of happiness for the general populus.
The answer is pragmatism: take what works from both ends of the spectrum, don’t swing the pendulum wildly the other way.
[Post edited 11 Aug 11:48]
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Protests in Norwich already on 11:51 - Aug 11 with 229 views
Interestingly I was also going to include in my post the following quote from that article indicating further petrol on the fire from the Tories.
"The Mail on Sunday gave Jenrick – as ever, with the air of a callow opportunist flirting with mob politics – its front-page splash. “I certainly don’t want my children to share a neighbourhood with men from backward countries who broke into Britain illegally, and about whom we know next to nothing,” he said. The accompanying messaging was less than subtle: an inside spread put a picture of Jenrick and his three daughters at what looked like a middle-English fete, next to an image of smiling young men “aboard a boat in France yesterday”.
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Protests in Norwich already on 11:59 - Aug 11 with 204 views
"At the end of July, the Institute for Public Policy Research published a report to mark the first anniversary of 2024’s riots, which claimed that the loss of communities’ shared spaces – pubs, youth clubs, community centres – can create “tinderbox conditions for violence”.
I can't comment on pubs but I think many of our perceived woes in Britain can be attributed to the closing of youth clubs and community centres. I've seen first hand the damage that has done in parts of London where my nephew is growing up.
Like I wrote in a post above, if govt or local govt can't fund this then I would like to see the private sector pony up the relative pittance it would take to fund this.
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Protests in Norwich already on 13:35 - Aug 11 with 68 views
One striking point, 14 X posts from Keir Starmer last week and 10 of them about small boat crossings. The below quote is also instructive:
"A study by the University of Birmingham that surveyed thousands of media texts and political documents earlier this year found that that disproportionate focus on small boats shapes public attitudes towards migration, fuelling “a sense of crisis and emergency”"
There's at least one poster on here who could do with digesting that little snippet.
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