The Official DOOM: Autumn Statement (heavy tax increases)

[SueEllen]

There don't seem to be any spending cuts though? This Autumn Statement was sold on the basis that there would be circa £20 billion tax rises and £30 billion spending cuts.

If you cut spending while in a recession the recession lasts longer.

Also as the increase in council tax, as someone else pointed out up thread and the increase in spending in education due to inflation is actually a spending cut.

All this is basic economics. Unfortunately the previous PM and chancellor had difficulty understanding that.

[Protagoras]

If you cut spending while in a recession the recession lasts longer.

+1

People will have less disposable funds so consumption will fall.
I've not seen any sign of the government increasing spending in real terms to pick up the shortfall.
Recession squared.

All this is basic economics. Unfortunately the previous PM and chancellor had difficulty understanding that.

I think possibly all previous ones for at least the last 25 years, and I'm not sure before that!

[BolshieBastard]

There don't seem to be any spending cuts though? This Autumn Statement was sold on the basis that there would be circa £20 billion tax rises and £30 billion spending cuts.

It's cuts to previously proposed spending such as not spending as much under the Energy Price Gaurantee, not returning the Foreign Aid Budget to 0.7% of GDP from 0.5%, scaling back the Northern PowerHouse Rail upgrades etc.

Just a shame he didnt scrap HS2 which would fill the alleged £50bn black hole and still have some change.

[Zigenare]

How is point 1 relevant?

Point 2. I am aware of this. Unfortunately, this is not a problem that appeared overnight. It is a cumulation of voting in the wrong direction for 12 years. The tories have ****ed the economy, and on balance, bar JH walking over to the other side of the HOC there is not much else he could have done. The can has been kicked down the road until 2027.

As I said in my original post. You are all ****ed.

Point 1 is relevant because there are thousands of people invading this country who don't have to worry about where the money is going to come from to pay for their energy and council tax bills. It is particularly relevant when the burden of paying for these migrant's bills is falling on those who can barely if at all pay their own bills.

[TheDude]

Rates are not changing, but the allowance is reducing.

The tax free allowance for capital gains will reduce in 2023-24 from £12,300 to £6,000 and again to £3,000 in 2024-25. 

That is only really affecting the little people.

[SueEllen]

Point 1 is relevant because there are thousands of people invading this country who don't have to worry about where the money is going to come from to pay for their energy and council tax bills. It is particularly relevant when the burden of paying for these migrant's bills is falling on those who can barely if at all pay their own bills.

Maybe the Home Office needs to be more efficient and not employ staff that leave within a year of being trained.

[vetran]

Maybe the Home Office needs to be more efficient and not employ staff that leave within a year of being trained.

Maybe someone needs to grasp the nettle. So you are a criminal - these gentlemen will escort you to a plane.So you are Albanian ID, Prints and walk down that corridor to a boat back, don't bother to return. Oh you are an economic migrant flights at the end of the other corridor. etc.

Letting them wander round for years and put down roots is part of the problem.

[xoggoth]

Raising benefits, keeping the triple lock and energy handouts to everyone while taxing working people more is nuts. Destructive of incentive.

PS Not that, as a retired old fart, I am not personally pleased about the triple lock and energy subsidies. Who isn't a hypocrite?

[Protagoras]

Raising benefits, keeping the triple lock and energy handouts to everyone while taxing working people more is nuts. Destructive of incentive.

I suppose that the 'New Tories' see pensioners as voting for them. It's also a source of backbench revolt. So that one does make sense.

The Benefits system is outrageously complex (and therefore must be expensive in admin) and this needs to be simplified.

Personally, I think a good simplification to start with would be to raise the bottom end personal allowance so that more people on lower wages keep their money and in-work benefits are reduced.

The minimum wage rise is too small, but for employers the NI costs will I expect force the price of goods and services to increase.

And still no taxes on unearned income from owner occupied property - keep that 'reward' of the ridiculous house price inflation. Far too much unproductive capital is tied up in property.
But it makes voters 'feel' wealthy [voters who are old and more likely to vote 'New Tory']

Decide how much money one needs and then work to achieve this; there is little financial incentive to do more.

[_V_]

Ahem...

https://www.forbes.com/sites/carlton...umn-statement/

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