Our lifeblood, our hope, our need for the future....
Businesses are the lifeblood of this country.
They create all the wealth and they provide, ultimately, every penny of the tax revenues received by the government (tax paid by public sector employees originates from tax revenues in the first place - its just recycled money...).
If you pile costs on to businesses, if you tax them too highly, if you issue and keep issuing more and more rules and regulations, if you de-incentivise people from taking risks and building on success, if you make life more difficult for them then it will get more and more difficult for them to operate, produce profit, jobs and tax revenues. They have to compete in the wide world and be successful against tough competition in the Far East and the USA in particular.
It is simple really, looking after businesses, valuing them, encouraging them is essential for every man woman and child in the country.
Sadly we have seen governments forget that and this is at the core of our current economic problems. They spend money that has not been earned, while hamstringing the businesses that need to earn it. We had 13 years of this and still not enough has yet been done to change it. Taxes are still too high and there has not been enough essential supply side reform.
But it gets far worse....
A mood among some people in this country has developed that shouts 'Britain is Closed To Business'. We see attacks on success, calls for even higher penal taxation to punish the wealthy even though it is proven that this reduces tax revenues and damages growth. This mood of envy and spite is seen by foreign investors and is turning them away. Indeed even many domestic business investors now are preferring to put their money into countries where success is respected, applauded and the rewards are high. If you run a business here and are earning a comfortable £100,000 a year why should you bother to take the risks of boosting production, employing more people and working harder if the result is that 62p in the £ over £100k you earn is taken in tax. Indeed, as I know only too well, this even happens at the 40p threshold too.
Small businesses, micro businesses, aspirational businesses as well as big businesses, they all suffer in this climate but we need them all to have the best chance of success.
We need a whole mood change in this country if we want it to be successful. Time to respect businesses, time to take off the shackles that hold business back, time to encourage people to build their businesses and to allow them to benefit properly from success. This government must take the lead and stop trying to pander to the lowest common denominator among the ignorant mob. Reduce taxes specially the high marginal rates, simplify the tax system, work towards low flat taxes, make it easier to shed staff to encourage more people to take on employees and expand their businesses, repeal whole rafts of red tape. Encourage people by letting them keep more of their money and to pass it on to their children.
This is what we need....now more than ever.
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Tom AustinBy all means, "allow them to benefit properly from success". This is neither the case at the moment, nor the past or in your future Barry, at least not in the future as you wish to see it.
You are stuck in a rut with the rot of Thatcher and her trickle-down freakonomics.
Time after time you pour forth with statements of how the 'facts' of increased revenue through reduced tax rates speak for themselves, how history tells us and 'statistics' make plain, that the less you require the more you obtain...how true - from the personal point of view - but hardly the case with Nation States.
We are in the mess we are in because yours is the philosophy that was already closely followed in the business and banking world, certainly since the Big Bang.
The Privatisation of all profit and the nationalisation of all debt, the long-game of the removal of regulatory authority from the elected Government, so that the lunatics shall be very much in charge of the asylum.
"Encourage people by letting them keep more of their money and to pass it on to their children. "
At last we come to it.
The only good Tory is one that takes good care of you and you own particular business interests.
You are consistent Barry...consistently wrong.Yesterday 21:13
PhilipPAgree with all that but you must realise that the government have their mind on higher things. They don't bother their little heads with such trifling issues. There's a climate war to fight:
I agree with all you say but imagine what the effect on confidence in the UK would have been by investors and business if the worst had happened?Yesterday 17:47