Starmer's vision quest

[First Aspect]

The article linked said £51bn. Either way it's still larger than the last one, wouldn't you agree? And you'd have to pretty thick to think it wasn't at least in part down to the party currently in charge.

The article suggested a 10Bn buffer. It reads that they pulled that number out of someone's arse.

 

[Stevo 666]

The article suggested a 10Bn buffer. It reads that they pulled that number out of someone's arse.

10bn is the buffer she needs I believe, but does not appear to have.

 

[Psamathe]

You'd also need to be pretty dim to be gloating that the country is in trouble due to that and the Brexit fiasco. Yes Yes, yabber yabber, Covid and Ukraine - nothing to do with the fast lane contracts and the wealth gap being out of control.

The trouble is where it's been going under this Labour Government eg

• The current budget deficit in the financial year to June 2025 was £44.5 billion; this was £6.5 billion more than in the same three-month period of 2024 and the third-highest April to June current budget deficit since monthly records began, after those of 2020 and 2021
• Borrowing in the financial year to June 2025 was £57.8 billion; this was £7.5 billion more than in the same three-month period of 2024 and the third-highest April to June borrowing since monthly records began, after those of 2020 and 2021.
• Borrowing - the difference between total public sector spending and income - was £20.7 billion in June 2025; this was £6.6 billion more than in June 2024 and the second-highest June borrowing since monthly records began in 1993, after that of June 20

Very much going in the wrong direction and no signs of anything improving. Personally I think Labour/Chancellor really fücked-up with such a large employer NI hike which put the brakes on growth. There were plenty of other places to have increased Gov. income from but Labour were listening to lobbyists rather than actually thinking.

Just as everybody knows in their personal lives, there are always lots of causes, always have been always will be. You plan for those issues, you expect them and if in a hole don't keep digging.

Invariably arrogance will prevent somebody from identifying/resolving problems. Classic example is watching Labour Ministers on TV over the last few days telling us what needs to be done to stop the boats - they've had over a year and previously the answer was "smash the gangs" and that has just increased the numbers yet they are again lecturing about how they know exactly what to do - they've had over a year, several "we know what to do" which haven't worked. I'd have more respect if they just admitted they were lost (I won't use the obvious pun).

Ian

 

[CXRAndy]

View: https://x.com/DaveAtherton20/status/1953158374322835825?t=Ke6Xs1xjIUXOWU0Tz0pQjQ&s=19

 

[CXRAndy]

Time to rev-up those tax avoidance plans.

 

[Stevo 666]

Time to rev-up those tax avoidance plans.

I think the correct term is 'mitigation' 😇

 

[CXRAndy]

My tax adviser said they refused to say schemes, because it was too similar to scams.

Tax planning was the preferred term in their circle

Mitigation has a nice ring to it too

 

[CXRAndy]

Oh look another labour scumbag hypocrite


View: https://x.com/TalkTV/status/1953198584738005136?t=2ZuURUQO0mt28S4uOWz4-A&s=19

 

[CXRAndy]

That's what you do when someone is against your country's values


View: https://x.com/visegrad24/status/1953041684800880795?t=l2MoY4EPRgFjPyfIBby4sQ&s=19

 

[Stevo 666]

My tax adviser said they refused to say schemes, because it was too similar to scams.

Tax planning was the preferred term in their circle

Mitigation has a nice ring to it too

True, 'schemes' have certain connotations which can can give a bad name to perfectly legitimate tax planning strategies. Luckily I'm in a position where I can do a bit of DIY 🤓

 

[BoldonLad]

Oh dear, Rachel from accounts has an estimated £51bn black hole to fill:
https://uk.finance.yahoo.com/news/chancellor-warned-tax-rises-needed-073414295.html

Although at least Labour will be able to say that their black hole is bigger than the Tories one 🙂

Growth was her objective, and, she has achieved that growth. Credit where credit is due 😊

 

[monkers]

The trouble is where it's been going under this Labour Government eg

• The current budget deficit in the financial year to June 2025 was £44.5 billion; this was £6.5 billion more than in the same three-month period of 2024 and the third-highest April to June current budget deficit since monthly records began, after those of 2020 and 2021
• Borrowing in the financial year to June 2025 was £57.8 billion; this was £7.5 billion more than in the same three-month period of 2024 and the third-highest April to June borrowing since monthly records began, after those of 2020 and 2021.
• Borrowing - the difference between total public sector spending and income - was £20.7 billion in June 2025; this was £6.6 billion more than in June 2024 and the second-highest June borrowing since monthly records began in 1993, after that of June 20

Very much going in the wrong direction and no signs of anything improving. Personally I think Labour/Chancellor really fücked-up with such a large employer NI hike which put the brakes on growth. There were plenty of other places to have increased Gov. income from but Labour were listening to lobbyists rather than actually thinking.

Just as everybody knows in their personal lives, there are always lots of causes, always have been always will be. You plan for those issues, you expect them and if in a hole don't keep digging.

Invariably arrogance will prevent somebody from identifying/resolving problems. Classic example is watching Labour Ministers on TV over the last few days telling us what needs to be done to stop the boats - they've had over a year and previously the answer was "smash the gangs" and that has just increased the numbers yet they are again lecturing about how they know exactly what to do - they've had over a year, several "we know what to do" which haven't worked. I'd have more respect if they just admitted they were lost (I won't use the obvious pun).

Ian

I'm not an economist, but your figures look about right to my eye. Points to notice though ...
* Increased NI sends money to the government's second account which is ring-fenced in law to pay pensions and benefits. The only permitted exception is to top up the NHS (currently thought to be about 18% of its budget).
* Government can borrow from the secondary account in times of emergency but must pay it back - hence the war chest claims.
* Employer's NI is tax deductable. Therefore at current rates, employers pay 75% of the increase rather than 100%.
* Therefore this means less corporation tax going to the general account - so a shortfall.
* There's plenty of money in the second account, so the government can easily afford to pay NHS pay demands - they just don't want to.
* Paying NHS workers more will help correct the imbalance due to the 'virtuous fiscal circle' that successive governments pretend doesn't exist - paying NHS workers more, brings increased PAYE money to the general account, NI payments back to the second account, and other taxation such as VAT back to the general account. This will also assist growth.
* The boats is misdirection. Successive governments have pandered to populism - they maintain levels for scapegoating purposes.

 

[BoldonLad]

The trouble is where it's been going under this Labour Government eg

• The current budget deficit in the financial year to June 2025 was £44.5 billion; this was £6.5 billion more than in the same three-month period of 2024 and the third-highest April to June current budget deficit since monthly records began, after those of 2020 and 2021
• Borrowing in the financial year to June 2025 was £57.8 billion; this was £7.5 billion more than in the same three-month period of 2024 and the third-highest April to June borrowing since monthly records began, after those of 2020 and 2021.
• Borrowing - the difference between total public sector spending and income - was £20.7 billion in June 2025; this was £6.6 billion more than in June 2024 and the second-highest June borrowing since monthly records began in 1993, after that of June 20

Very much going in the wrong direction and no signs of anything improving. Personally I think Labour/Chancellor really fücked-up with such a large employer NI hike which put the brakes on growth. There were plenty of other places to have increased Gov. income from but Labour were listening to lobbyists rather than actually thinking.

Just as everybody knows in their personal lives, there are always lots of causes, always have been always will be. You plan for those issues, you expect them and if in a hole don't keep digging.

Invariably arrogance will prevent somebody from identifying/resolving problems. Classic example is watching Labour Ministers on TV over the last few days telling us what needs to be done to stop the boats - they've had over a year and previously the answer was "smash the gangs" and that has just increased the numbers yet they are again lecturing about how they know exactly what to do - they've had over a year, several "we know what to do" which haven't worked. I'd have more respect if they just admitted they were lost (I won't use the obvious pun).

Ian

Fear not, they are taking advice from
Prudent Gordon, saviour of the World Financial System.

 

[CXRAndy]

Its quite probable it will all come crashing down

 

[Stevo 666]

Growth was her objective, and, she has achieved that growth. Credit where credit is due 😊

She has definitely grown the state, well done RFA.