Keeping promises

[AtW]

Except the thinking seems to be to reduce VAT and leave taxes alone, relying on increased spending to recover the economy...

Macroeconomics seems to be beyond some people. You can't tax income that people don't actually have and expect to collect increased revenue.

Reducing VAT is the most moronic thing to do, so they probably will - instead of reducing taxes on employment (employer NICs) and income tax with VAT going up

[malvolio]

Reducing VAT is the most moronic thing to do, so they probably will - instead of reducing taxes on employment (employer NICs) and income tax with VAT going up

Putting VAT back down to 15% would mean everything bar food costing appreciably less making it more affordable and so encouraging spending.

Increasing VAT would make most people think things were more expensive so would put them off spending.

Most people don't look at their bank balance, only at price tags.

They won't change tax rates, they may well play around with the boundaries where they apply.

[elsergiovolador]

All taxes should go down, at the moment the % is ridiculous.

Plus they should drop any red tape when it comes to employment. Ironically this is what IR35 is going to do, but at demotivating tax.

[AtW]

Like 5% discount (IF it is fully passed on, which won’t happen)on anything other than big items won’t make any difference.

Given deflationary pressures it actually makes sense to increase VAT now - say 1% per year with corresponding drops in income tax to put more money into pockets.

Once again malvolio I come to conclusion that you are an idiot (B-strain)

[malvolio]

Like 5% discount (IF it is fully passed on, which won’t happen)on anything other than big items won’t make any difference.

Given deflationary pressures it actually makes sense to increase VAT now - say 1% per year with corresponding drops in income tax to put more money into pockets.

Once again malvolio I come to conclusion that you are an idiot (B-strain)

It's an opinion. Not one I share, since I pay little attention to idiots, but if it makes you feel superior then fine. I'll stick to arguing with people that can manage to do so without trying to insult the other party.

[Old Greg]

It's an opinion. Not one I share, since I pay little attention to idiots, but if it makes you feel superior then fine. I'll stick to arguing with people that can manage to do so without trying to insult the other party.

...said mal, insultingly.

[AtW]

It's an opinion. Not one I share, since I pay little attention to idiots, but if it makes you feel superior then fine. I'll stick to arguing with people that can manage to do so without trying to insult the other party.

It wasn't an insult - it was an opinion, just like yours with a crucial difference: mine was correct.

[malvolio]

It wasn't an insult - it was an opinion, just like yours with a crucial difference: mine was correct.

Oooh look. VAT has gone down...

[AtW]

Oooh look. VAT has gone down...

Only for hospitality which is the correct action - big drop from 20% to 5% since it’s targeted, unlike general 2-3% reduction (that was initially promoted) which would have made feck all difference and would have cost more.

If you can’t see this difference then you are an idiot.

[Zigenare]

"Pensions triple lock at risk from Covid-19 fallout

Rishi Sunak is preparing to break the Conservative party’s “triple lock” state pension pledge, amid Treasury fears that the policy could soon become unaffordable because of the fallout from the coronavirus crisis."

Source: Subscribe to read | Financial Times

"i am sorry, but my promise became unaffordable"

Do you understand the realities of what has just happened to the world? Resources have been diverted to help prevent an even greater catastrophe than could have happened otherwise.

Now either **** off back to Russia or get with the programme.