Super-rich prepare to leave UK 'within minutes' if Labour wins election

[Mordac]

Not so sure, how many of these super rich are there compared to the working class and low earners. Corbyn is going for that huge swathe of voters.

The rich control the media though so expect to see them try to destroy Corbyn via fake news.

There's no need for any 'fake news', the truth would scare the tulip out of most sane people. He'll be ousted within 6 months anyway, for not being a sufficiently useful idiot.

[BrilloPad]

There's no need for any 'fake news', the truth would scare the tulip out of most sane people. He'll be ousted within 6 months anyway, for not being a sufficiently useful idiot.

He would be ousted as he is the cuddly face of Labour. When MacDonnell takes over it will get worse.

[Mordac]

He would be ousted as he is the cuddly face of Labour. When MacDonnell takes over it will get worse.

As I said previously, we'll be Venezuela without the (mostly) nice weather.

[d000hg]

The super rich will still be super rich under Labour. It's those trying to GET rich who will be scuppered.

[NickFitz]

Don’t they say this every time, and it never happens?

Well, I think Jim Davidson went to Dubai for a bit, but he came back again. More’s the pity

[edison]

Maybe the super wealthy are right to be worried but I sincerely doubt many of them will leave on day 1. The UK is much too good a tax haven for them and is likely to be for a while yet.

Unfortunately the real narrative is much more unpalatable. Both main parties are economically incoherent. The irony is that whoever wins the election is likely to have to raise taxes all round in the long term.

Both main parties are committing to increasing spending. Labour probably won't be able to raise enough tax to meet it's aims and the Tories are going to have a hole somewhere because they position themselves as the low tax, small state party historically.

This graph from the Telegraph is interesting as it suggests the tax burden (income tax at least) for the rich has continued to rise for almost 40 years when most of that time has had a Tory government.

Tax burden on the wealthy has trebled since the 1970s, Telegraph analysis shows

Given marginal tax rates have come down a lot in that time, I assume that's due to the rich paying more tax out of a bigger share of the pie.

Meanwhile the UK national debt has ballooned by about £640 BILLION since 2010 and as a percentage of GDP it's gone from about 75 to 85%. The ratio of debt vs GDP has hardly changed since 2013. If you exclude the so called PIGS economies (AKA basket cases) like Greece, Italy, Spain and Portugal, only France has a worse level of debt than the UK in the EU of any major country. Yes, the budget deficit has come down in the last three years but we're still running up a budget deficit every single year.

It's hard to think how anyone can believe the government is economically competent.

[edison]

Don’t they say this every time, and it never happens?

Well, I think Jim Davidson went to Dubai for a bit, but he came back again. More’s the pity

I was going to mention Jim Davidson.

And Phil Collins (who did move), Frank Bruno and various other C list celebs...

No doubt this will get trotted out again during the election campaign.

[BrilloPad]

Meanwhile the UK national debt has ballooned by about £640 BILLION since 2010 and as a percentage of GDP it's gone from about 75 to 85%. The ratio of debt vs GDP has hardly changed since 2013. If you exclude the so called PIGS economies (AKA basket cases) like Greece, Italy, Spain and Portugal, only France has a worse level of debt than the UK in the EU of any major country. Yes, the budget deficit has come down in the last three years but we're still running up a budget deficit every single year.

It's hard to think how anyone can believe the government is economically competent.

And Boris has promised a spending spree. Magic money tree.....

[scooterscot]

You do realise that you'll be out of a job within weeks of Labour winning the election?

Unemployment is at an all time low. Realistically it matters not who is in power in the next parliament, unemployment can only increase from here on. Of course it'll be convenient if it's a labour government then the opposition can continue their Modus operandi rather than come up with any meaningful debate.

[WTFH]

He'll be ousted within 6 months anyway, for not being a sufficiently useful idiot.

You think he'll last longer than Boris?