VAT = 20%!!!!!!
23 June 2010, 01:34 AM
#61
was a good budget tbh considering the world of **** the country is in as a hole ,
ps , pete your too blinkered your labour boys wanted to leavy an additional 10% tax on cider? and a tax on every phone line in the country to pay for high speed broadband ?
countless pointless goverment departments spending millions of our money on research for stuff that will never happen ??
loved it in the budget today when he turned round and said.. "im happy to abolish this tax before they take effect"
finaly some toffs with some basic understanding of money and economics to put us straight
+ tathan , thats the way of things ,lets hope peoples memorys will be a little better for abit longer than 4 years a
ps , pete your too blinkered your labour boys wanted to leavy an additional 10% tax on cider? and a tax on every phone line in the country to pay for high speed broadband ?
countless pointless goverment departments spending millions of our money on research for stuff that will never happen ??
loved it in the budget today when he turned round and said.. "im happy to abolish this tax before they take effect"
finaly some toffs with some basic understanding of money and economics to put us straight
+ tathan , thats the way of things ,lets hope peoples memorys will be a little better for abit longer than 4 years a
23 June 2010, 07:35 AM
#62
Scooby Regular
From what I've seen so far a fair budget. I'm personally worse off, but I accept that with no real hard feeling.
Tony Burns seems to live on a different planet. His anti tory venom seems to prevent him thinking clearly.
Tony Burns seems to live on a different planet. His anti tory venom seems to prevent him thinking clearly.
23 June 2010, 07:59 AM
#63
VAT rise won't make any difference: People will still spend money if they need to. One has to assume a person has money in the first place in order to spend it on a VATable item 
The problem before was people without money were spending it. Using loans, mortgages and credit cards, given by banks without any proper regard paid to their person's ability to pay it back. Unsustainable. And this happened regardless of the VAT being at 15% or 17.5% The only thing that will stop it happening at 20% is exactly what is currently happening now with it at 17.5%....the banks aren't giving away loans ***** nilly like free sweets. Therefore people without the money (or earnings, to be more specific), can no longer rely on loans to buy their nice 60" plasma with Sky HD and AV surround system, or finance the ovesized SUV they have parked on the drive (which I note on many new build estates - with the houses now for sale, and the Range Rover with a repossesion order served on it).
VAT only affects those that want to waste it on non-essentials. (TV, SKY, fancy car/suv, iPhones,
).
VAT on fuel is a problem though, and that does need to be addressed. Unless increased fuel tax is tied in with with reduced road taxation; to deter long distance commuting by private travel.
The problem before was people without money were spending it. Using loans, mortgages and credit cards, given by banks without any proper regard paid to their person's ability to pay it back. Unsustainable. And this happened regardless of the VAT being at 15% or 17.5% The only thing that will stop it happening at 20% is exactly what is currently happening now with it at 17.5%....the banks aren't giving away loans ***** nilly like free sweets. Therefore people without the money (or earnings, to be more specific), can no longer rely on loans to buy their nice 60" plasma with Sky HD and AV surround system, or finance the ovesized SUV they have parked on the drive (which I note on many new build estates - with the houses now for sale, and the Range Rover with a repossesion order served on it).
VAT only affects those that want to waste it on non-essentials. (TV, SKY, fancy car/suv, iPhones,
).VAT on fuel is a problem though, and that does need to be addressed. Unless increased fuel tax is tied in with with reduced road taxation; to deter long distance commuting by private travel.
Last edited by ALi-B; 23 June 2010 at 08:04 AM.
23 June 2010, 06:15 PM
#66
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I find it funny 
You dont need to raise duty on fuel, the 20% (or extra 2.5% will hit fuel anyway adding about 4-5p a litre), of course if you have no understanding why labour dropped the vat to 15% then you wont understand why raising this to 20% is a very bad idea, welcome to the new resession (same as in the 80's when the tories bumped up vat from 15% to 17.5% and put nearly 5 million people out of work
)
Vat is what you pay on all goods (with some exceptions like childrens clothing), I am not an expert here but the more you pay on an item the less you want it, which means you now hit the visious circle of a downward spiral.
Higher tax = less spending.
Less spending = less profit.
Less profit = less jobs (as you cannot afford to keep people on)
Less jobs = more unemployment
More unemployment = bigger strain on the benefits system etc.
Hence why labour dropped vat to increase spending and in doing so bring an end to resession due to jobs being made and an increase of money flowing through the economy.
Good old tories
Tony
You dont need to raise duty on fuel, the 20% (or extra 2.5% will hit fuel anyway adding about 4-5p a litre), of course if you have no understanding why labour dropped the vat to 15% then you wont understand why raising this to 20% is a very bad idea, welcome to the new resession (same as in the 80's when the tories bumped up vat from 15% to 17.5% and put nearly 5 million people out of work
)Vat is what you pay on all goods (with some exceptions like childrens clothing), I am not an expert here but the more you pay on an item the less you want it, which means you now hit the visious circle of a downward spiral.
Higher tax = less spending.
Less spending = less profit.
Less profit = less jobs (as you cannot afford to keep people on)
Less jobs = more unemployment
More unemployment = bigger strain on the benefits system etc.
Hence why labour dropped vat to increase spending and in doing so bring an end to resession due to jobs being made and an increase of money flowing through the economy.
Good old tories
Tony
Would it be a better idea then to do nothing about overborrowing and spending until the country goes fully bankrupt? How would you feel about that?
Les
23 June 2010, 06:29 PM
#67
Scooby Regular
Thread Starter
Les ... your toffs in power have now started on the beginning of a new recession ... I'm secure enough to take advantage of another collapse ... but, some others will feel real pain!
I can ride the worst, it won't be pleasant, but I feel for those who have been abandoned.
No doubt we shall see you posting how bad it is in 12 months, Les?
I'm very sure that most of the Tory SN will be blubbing in their tea this time next year!
I can ride the worst, it won't be pleasant, but I feel for those who have been abandoned.
No doubt we shall see you posting how bad it is in 12 months, Les?
I'm very sure that most of the Tory SN will be blubbing in their tea this time next year!
24 June 2010, 11:03 AM
#68
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Les ... your toffs in power have now started on the beginning of a new recession ... I'm secure enough to take advantage of another collapse ... but, some others will feel real pain!
I can ride the worst, it won't be pleasant, but I feel for those who have been abandoned.
No doubt we shall see you posting how bad it is in 12 months, Les?
I'm very sure that most of the Tory SN will be blubbing in their tea this time next year!
I can ride the worst, it won't be pleasant, but I feel for those who have been abandoned.
No doubt we shall see you posting how bad it is in 12 months, Les?
I'm very sure that most of the Tory SN will be blubbing in their tea this time next year!
Have you not noticed that those standing for the NL leadership are all toffs as far as their education etc. is concerned? Diane Abbott moved heaven and earth to get her children into the best possible education too!
"A pennyworth of what I don't say" Pete!
Les
24 June 2010, 11:27 AM
#69
Scooby Regular
Les ... your toffs in power have now started on the beginning of a new recession ... I'm secure enough to take advantage of another collapse ... but, some others will feel real pain!
I can ride the worst, it won't be pleasant, but I feel for those who have been abandoned.
No doubt we shall see you posting how bad it is in 12 months, Les?
I'm very sure that most of the Tory SN will be blubbing in their tea this time next year!
I can ride the worst, it won't be pleasant, but I feel for those who have been abandoned.
No doubt we shall see you posting how bad it is in 12 months, Les?
I'm very sure that most of the Tory SN will be blubbing in their tea this time next year!
No action (the Labour stance) would have seen massive loss in Market confidence, a big drop in the FTSE, a further devalued pound. Together much worse than a little but of extra VAT.
Anyone with half an ounce of intelligence can see that.
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