Paul Watkins- Location: Dover
- Registered: 9 Nov 2011
- Posts: 2,226
The public sector says it needs to spend more cash each year to keep going. The private sector cannot or will not pay more tax to meet the bills. We have reached an impasse.
The original deficit reduction plan of the Coalition government rested on a very large increase in tax revenue. The June 2010 forecast said we would be paying £176.8 bn more in 2014-15 compared to 2009-10. That £2800 extra per person (on average), or more than £10,000 extra for a family of four, would take care of the increased costs of public services over the five years and cut the outstanding deficit.
Instead, as we will see tomorrow, with tax after tax revenue has fallen well short of the official estimates so far. Growth has disappointed, accounting for much of the loss. It is also clear that more people than expected have planned their affairs to avoid the higher rates brought in. Very rich people have gone offshore. People have declined to take profits on assets, or have sold assets at a loss to 0ffset. Housing transactions have been well down on pre crisis levels, avoiding Stamp Duty.
Many in the private sector say they cannot pay more. They feel the current tax level is quite high enough. They do not have any spare money to give the government. Critics of the private sector say they still have the money but are unreasonably witholding it. They want tougher attacks on avoidance. The problem is you cannot make people take a profit on an asset or buy a different home. They have every right not to do those things and pay less tax as a result. Successful highly paid financial sector personnel can say that they now want to work in low tax Hong Kong rather than higher tax London, and their employer may let them. You cannot make people drive their cars more -indeed the government wants us to drive less - so you should expect a shortfall in fuel duty.
We have a stand off. As a result the deficit remains dangerously high. The government needs to look again at spending as well as revenue, to get the deficit down.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
if i didn't know any better i would have said that sounded like john redwood.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
He was born in Dover but went to school in Canterbury (Kent College) and his parents lived in Cherry Garden Rd. so I would class him as a Canterbury boy really.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Paul Watkins- Location: Dover
- Registered: 9 Nov 2011
- Posts: 2,226
You sure it's not Barry W, Howard?
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
born at buckland hospital and people wonder why it was classed as not fit for purpse.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
good point roger looks like one of barry's blogs without graphs.
Paul Watkins- Location: Dover
- Registered: 9 Nov 2011
- Posts: 2,226
John Redwood, lived on London Rd, Peter [in his own words].
When his family moved I'm unsure.
Watty
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,888
John Redwood might have been born here but he certainly did not live here long enough for it to be called his home town.
Redwood was born in Dover, Kent. He was the only child of William Charles and his wife, Amy Emma Redwood (née Champion). His parents lived in a council house in Canterbury until Redwood was four years old.
http://en.wikipedia.org/wiki/John_Redwood-----------------------------------------------------------------------
I try to be neutral and polite but it is hard and getting even more difficult at times.
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Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
so acording to jans link he is the same age as me.roughly.
Paul Watkins- Location: Dover
- Registered: 9 Nov 2011
- Posts: 2,226
Jan, this becoming a mystery.
Can't see why he was born in Dover if according to WIKI his family lived in Canterbury.
Canterbury had first class maternity services.
John Redwood has been to Dover many times to speak at functions & I have spoken to him, driven him & introduced him at those functions. I would not have known he lived on London Rd. if he had not told me. Can't see why that would have registered with me.
I'll have to contact him & check out his early childhood.
He appeared to have been proud to have been born in Dover.
Watty
Paul Watkins- Location: Dover
- Registered: 9 Nov 2011
- Posts: 2,226
Howard you are correct, it is not Reg.
Watty
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
just reread it and there is no mention of an east kent authority so not reg.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Certainly not me.... I did not write it.
I am one of those in the process of reorganising my business to reduce my tax bills. Had enough of getting ripped off by greedy spendthrift government. This tax year is the last one in which I will be clobbered by the 42% tax rate.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
hope you don't mind me saying so barry but you are sounding a bit mean spirited here, if you don't pay the full whack in tax then benefit claimants will struggle to stump up their sky premium subscriptions.
these big businesses certainly know what they are doing, opposite where they are camped is a post office, poundland, 2 betting shops and a pizza take away, all just a stones throw from the jobcentre.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Assuming John Redwood is a man of Kent, anyway he made a valid point.
If George Osborne based his financial programme on a visionary tax intake, then it failed.
Just about every economist has been saying this, and the papers, the birds are singing it from the trees.
The only person who won't admit it is George Osborne.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Which primary school did he go to, Paul? As I understand it, he went to Vernon Holme from about 9 and then to Kent College on a scholarship, but as a day pupil.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Jan Higgins- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,888
Paul Watkins wrote:Jan, this becoming a mystery.
Can't see why he was born in Dover if according to WIKI his family lived in Canterbury.
Canterbury had first class maternity services.
John Redwood has been to Dover many times to speak at functions & I have spoken to him, driven him & introduced him at those functions. I would not have known he lived on London Rd. if he had not told me. Can't see why that would have registered with me.
I'll have to contact him & check out his early childhood.
He appeared to have been proud to have been born in Dover.
Watty
Could it be that his grandparents or other relatives lived in London Road and his mother was with them when she unexpectedly went into labour, maybe he spent a lot of time there as a child.
It certainly seems a strange.
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
Old Dracula redwood was probably born up the castle.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
Paul, John being a politician, and being in Dover on the occasions you describe, and knowing you as a Dover chap, I would be surprised if he had prattled on about his Canterbury connections.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Interesting Paul I assumed it was you that had written it.
You and I don't agree on everything but I'm sure we do on the economy, we're being taxed to the point of extinction. I pay council tax and business rates monthly, send HMRC NI and PAYE monthly, VAT quarterly and my own self assessment at the end of the year.
SMEs are being bled dry.
