The new IR35 regime

[amcdonald]

My definition is 13%. No bands, earn all the money you like:

Student earns £2000 working in a bar one summer. He pays 13%.

Contractor earns £100000 working in bank. He pays 13%.

Sir Philip Green earns £1bn from Topshop dividend. He pays 0%.

...and so on.

FTFY

[Robinho]

I would also eliminate corporate tax.

It must be the most avoided tax there is and doesn't actually add a lot to the treasury.

Also it's a double tax.

The only tax i like is Inheritance Tax. Find the peak of the Laffer curve with that one.

[doodab]

We should cut a load of pointless tulip out like high speed 2 and such to make it about 30%.

UK Central Government and Local Authority Spending in 2012 - Charts

That's spending.

Income tax & NI brings in about £240 billion a year, so for each 1% you want to lop off you need to save £2.4 billion a year. Cancel HS2 and you can have 32% for a year then it's back up to 46%.

[swamp]

...
Get rid of the Army - Why does an island nation need an army? Keep the marines and that's that.
....

Agreed. But we should at least remain capable of defending the Falkland Islands. For the principle that they are British, and also because there may be a load of oil there too.

All overseas territories should be fully incorporated into Britain or be told we can no longer protect them. A bit like France. Then we make it perfectly clear that any attack on our overseas islands will be treated the same as an attack on mainland Britain. Cut back the military and make it clear to all concerned that nukes will be considered in their defense instead.

[eek]

UK Central Government and Local Authority Spending in 2012 - Charts

That's spending.

Income tax & NI brings in about £240 billion a year, so for each 1% you want to lop off you need to save £2.4 billion a year. Cancel HS2 and you can have 32% for a year then it's back up to 46%.

No for each 1% you want to lop off you need to knock £5.2bn off the budget (as that is £240bn/46(%)). So cancel HS2 and you can have 39.5% for a year then its back to 46%

[Robinho]

Well phase out old age pensions, that's 92 billion.
Cut out Tertiary education, another 12 billion.
Family and children welfare can go, another 19.7 billion
Railways at 5.9 bill can go, costs to be passed on to the rail companies
I'm sure 1/3 of "general government" can go, another 4 billion.
Agriculture, forestry, fishing an 5 billion

That's all i can be bothere with for now, that site is dead slow.

But we have 138 billion.

How am i doing?

[Robinho]

Agreed. But we should at least remain capable of defending the Falkland Islands. For the principle that they are British, and also because there may be a load of oil there too.

All overseas territories should be fully incorporated into Britain or be told we can no longer protect them. A bit like France. Then we make it perfectly clear that any attack on our overseas islands will be treated the same as an attack on mainland Britain. Cut back the military and make it clear to all concerned that nukes will be considered in their defense instead.

Well the Falklands needs marines and a carrier for defense i'd say so we're ok there.

I'd keep nukes + subs, a bit of the RAF and 2 or 3 carriers for the islands. But the main emphasis should be on defending what we have and not attacking middle eastern countries. The yanks can knock themselves out with that one.

[eek]

Well phase out old age pensions, that's 92 billion.
Cut out Tertiary education, another 12 billion.
Family and children welfare can go, another 19.7 billion
Railways at 5.9 bill can go, costs to be passed on to the rail companies
I'm sure 1/3 of "general government" can go, another 4 billion.
Agriculture, forestry, fishing an 5 billion

That's all i can be bothere with for now, that site is dead slow.

But we have 138 billion.

How am i doing?

And any government implementing the first point has lost every subsequent election. Hint the old vote youngsters don't.

What's your next plan oh clueless cretinous one.

[Robinho]

No need for that is there?

Privatising pensions is hardly a ridiculous concept.

I genuinely believe it's win:win. Pensions will no longer be easy targets for gov and companies to cut. And no more government telling people what to do with their own money.

[eek]

Its general so the comment is fair game. And its true you could privatise state pensions. If you did it today you could start saving money in roughly 2060.