budget

[Jacob]

Interesting stuff from Jamie Driscoll https://www.facebook.com/JamieDriscollNE

 

[treeturner123]

I think the man on Question Time got it right, there is, it seems, no politician with an ounce of economic sense. I agree with Jamie Driscoll that we should be taxing multi-nationals more by stopping them using only certain countries as their tax bases. A really good way for example, would be to tax all on line adverts by taxing the platform eg Google and taxing ALL on line sales by adding a few pence to every sale be it direct with the supplier, direct with a private seller or via third parties such as Amazon, Ebay and Ebid.

Also, please explain to me someone how putting more tax on businesses will give the UK better growth. The NHS, Local Authorities etc do not grow the economy.

Finally, what silly person thought that it was a good idea to increase the tax burden on the means of feeding us by changing the rules in inheritance tax on farms. Do we WANT to increase our balance of payment problems by importing more food.

Yes, Economic Illiterates the lot of them!

Phil

 

[Jacob]

.....
... The NHS, Local Authorities etc do not grow the economy.

They most certainly do. 45% of GDP is public spending, with £billions spent on suppliers, infrastructure and services. Not to mention the health, availability, earning/spending capability of the workforce itself. NHS is UK's biggest employer...etc etc
In fact it's really bizarre the way the NHS and other public services are portrayed as some sort of bottomless pit of expense when in fact they are major drivers of the economy and the wealth of all of us.

Finally, what silly person thought that it was a good idea to increase the tax burden on the means of feeding us by changing the rules in inheritance tax on farms.

Apparently it is not as bad as they say - it only affects the mega rich; land owners who most likely are not even farmers themselves.
https://www.theguardian.com/uk-news/2024/nov/01/farmers-shocked-budget-inheritance-tax-estates
Perhaps one of the few progressive things in the budget as land taxes are long overdue IMHO

 

[Chris152]

Apparently it is not as bad as they say - it only affects the mega rich; land owners who most likely are not even farmers themselves.
https://www.theguardian.com/uk-news/2024/nov/01/farmers-shocked-budget-inheritance-tax-estates
Perhaps one of the few progressive things in the budget as land taxes are long overdue IMHO

One of my retirement plans was to buy land and move out west. I spoke to a good friend who's an estate agent, he said prices were high on account of wealthy people buying up land/ farms to avoid inheritance tax.

 

[Phil Pascoe]

Probably just as likely to be because there's always a chance, no matter how slim of getting planning permission on it.

 

[Hypnotic Chimera]

One of my retirement plans was to buy land and move out west. I spoke to a good friend who's an estate agent, he said prices were high on account of wealthy people buying up land/ farms to avoid inheritance tax.

There are several high-profile examples of super-wealthy actually admitting, up-front, that the only reason they bought "farm" was to take that wealth out of scope of inheritance taxation. No other motivation than that. I suspect this was what drew the lens and spotlight onto the existing "loophole". I do believe, quite strongly, that the "loophole" was never supposed to be a "loophole", and was instituted for very, very good reason, and there is still a really strong case to retain it.
But, yet again, it is the super-wealthy that have spoiled it for the people and fundamental reason it was supposed to be designed for - and gives a lot of credence to the notion that it is the power of the the super-wealthy why normal people can't have 'nice things'.

 

[Jacob]

There are several high-profile examples of super-wealthy actually admitting, up-front, that the only reason they bought "farm" was to take that wealth out of scope of inheritance taxation. No other motivation than that.

Jeremy Clarkson said it himself! Mind you he has taken up farming itself, so may be thinking differently about things, if he thinks at all that is.

 

[Hypnotic Chimera]

Jeremy Clarkson said it himself! Mind you he has taken up farming itself, so may be thinking differently about things, if he thinks at all that is.

I wasn't thinking of Clarkson here - although I know he said it - because whatever he says in public might or might not be true - he's just an attention seeking bawbag and controversy merchant.

The ones I was referring to are Yorkshire - so not Cotswold or south-west linked.