The Big NIC U turn

[jamesbrown]

Short-term measure, you mean Tory Scum will actually reduce dividend tax???

They're going to introduce a fatcat index, with dividend taxation inversely proportional to fatcatedness. HTH.

[pscont]

Changes to class 4 NICs have been scrapped. More to follow.

linky

The Guardian has the letter sent to Tory MPs linky

Time to scrap the dividend allowance reduction.

[SueEllen]

Summarise Hammond's speech:
- Self-employed aren't paying enough tax
- It's unfair
- There is a tax gap which HMRC and the OBR have guessed it's a lot of money
- I didn't breach the manifesto promise
- No increase in NIC rates in this parliament
- Class 2 will be abolished
- I will make them all suffer in Autumn after the consultation
- I will widen the exercise so can reform it all

[SueEllen]

Summarise Macdonuts reply:
- It is chaos
- Chancellor should spend less time writing crap jokes
- £2 Billion tax hike and it was breaching a manifesto promise
- Done at the same time as cutting tax for rich corps
- He's not apologised for his blunder
- Thanks to all those who have helped get this reversal including those across the house and FSB
- blah blah

[Mordac]

Both beautiful summarisations. Thanks for saving me valuable breathing/drinking time by not having to read the whole thing myself.

[SueEllen]

Both beautiful summarisations. Thanks for saving me valuable breathing/drinking time by not having to read the whole thing myself.

I was listening to it.

Though they cut of McDonut halfway through due to his rambling.

[SueEllen]

Now listening to Jordon Marshall of IPSE.

There was some other bloke on before saying that people deliberately go self-employed because they get all these expenses.

Jordon Marshall is saying sensible things and talking about income volatility.

[Mordac]

Now listening to Jordon Marshall of IPSE.

There was some other bloke on before saying that people deliberately go self-employed because they get all these expenses.

Jordon Marshall is saying sensible things and talking about income volatility.

Which station?

[Tasslehoff]

So is it safe to say the opening battery was a warning shot and the below the waterline hits come in the Autumn?

[SueEllen]

Which station?

LBC

Incidentally some of their former staff end up working for government.