British Politics

[UFGN]

How do you reckon we're going to fill the hole in our finances left by the lower corporation tax which will be required just to stand still in terms of job numbers?

What hole? You're just repeating Labour BS ... what are the facts? ....

Corporation tax has been reduced from the 'loony left' levels of 52% to it's current 20%, during that time the actual total tax take has remained constant - here's the summary

Reducing corporation tax doers not automatically reduce Government income, this has certainly been the case for the UK over the past 35 years. Since 1983, the main rate of corporation tax has decreased from 52% to its current rate of 20%, but revenues have remained generally buoyant – corporation tax receipts consistently make up about 9-10% of all HMRC receipts. The Institute for Fiscal Studies has explained this by pointing out other changes in tax law which offset the cuts, an increase in the size of the corporate sector, and economic conditions which have boosted profitability.

- I can explain further if you want but it's just basic economics ....

You're right it's pretty basic.

So is the fact that in the entire time bracket you've mentioned we were members of the EU and it's predecessor

Also there is the issue that a huge majority of City companies, a massive contributor of tax for the UK, didn't want us to exit the Common Market. We don't have a normal healthy economy in the UK anymore, we have one hugely dependent on financial services.

[EliteKiller]

How do you reckon we're going to fill the hole in our finances left by the lower corporation tax which will be required just to stand still in terms of job numbers?

What hole? You're just repeating Labour BS ... what are the facts? ....

Corporation tax has been reduced from the 'loony left' levels of 52% to it's current 20%, during that time the actual total tax take has remained constant - here's the summary

Reducing corporation tax doers not automatically reduce Government income, this has certainly been the case for the UK over the past 35 years. Since 1983, the main rate of corporation tax has decreased from 52% to its current rate of 20%, but revenues have remained generally buoyant – corporation tax receipts consistently make up about 9-10% of all HMRC receipts. The Institute for Fiscal Studies has explained this by pointing out other changes in tax law which offset the cuts, an increase in the size of the corporate sector, and economic conditions which have boosted profitability.

- I can explain further if you want but it's just basic economics ....

You're right it's pretty basic.

So is the fact that in the entire time bracket you've mentioned we were members of the EU and it's predecessor ??????

Also there is the issue that a huge majority of City companies, a massive contributor of tax for the UK, didn't want us to exit the Common Market. We don't have a normal healthy economy in the UK anymore, we have one hugely dependent on financial services.

and the earth went around the sun, night followed day ... what's your point about being in the EU? they have never set corporation tax ...

so nothing to do with corporation tax but another 'scare'tactic about companies leaving ... hang on but there are far more financial companies that operate outside the EU than in it ... how can that be following your logic? ...

you just put up a wall of ifs and maybes and when they get debunked you chuck up a few more ... the UK ain't going to fail ....

a 5% change in corporation tax will have less than a 1% impact on UK tax take ....

there's no evidence that financial institutions will leave London .... in fact three of the biggest have taken additional office space already ...

the UK economy is the 5th largest in the world ... not bad for the 22nd largest population ....

gloom and doom merchants have been talking down the UK for decades ... it ain't happened yet and it won't happen through Brexit ... as always the UK will find a way ....

[UFGN]

How do you reckon we're going to fill the hole in our finances left by the lower corporation tax which will be required just to stand still in terms of job numbers?

What hole? You're just repeating Labour BS ... what are the facts? ....

Corporation tax has been reduced from the 'loony left' levels of 52% to it's current 20%, during that time the actual total tax take has remained constant - here's the summary

Reducing corporation tax doers not automatically reduce Government income, this has certainly been the case for the UK over the past 35 years. Since 1983, the main rate of corporation tax has decreased from 52% to its current rate of 20%, but revenues have remained generally buoyant – corporation tax receipts consistently make up about 9-10% of all HMRC receipts. The Institute for Fiscal Studies has explained this by pointing out other changes in tax law which offset the cuts, an increase in the size of the corporate sector, and economic conditions which have boosted profitability.

- I can explain further if you want but it's just basic economics ....

You're right it's pretty basic.

So is the fact that in the entire time bracket you've mentioned we were members of the EU and it's predecessor ??????

Also there is the issue that a huge majority of City companies, a massive contributor of tax for the UK, didn't want us to exit the Common Market. We don't have a normal healthy economy in the UK anymore, we have one hugely dependent on financial services.

and the earth went around the sun, night followed day ... what's your point about being in the EU? they have never set corporation tax ...

so nothing to do with corporation tax but another 'scare'tactic about companies leaving ... hang on but there are far more financial companies that operate outside the EU than in it ... how can that be following your logic? ...

you just put up a wall of ifs and maybes and when they get debunked you chuck up a few more ... the UK ain't going to fail ....

a 5% change in corporation tax will have less than a 1% impact on UK tax take ....

there's no evidence that financial institutions will leave London .... in fact three of the biggest have taken additional office space already ...

the UK economy is the 5th largest in the world ... not bad for the 22nd largest population ....

gloom and doom merchants have been talking down the UK for decades ... it ain't happened yet and it won't happen through Brexit ... as always the UK will find a way ....

Oh please do me a favour and save the "gloom and doom" ukip bullshit. You're not talking to a Sun reader. Every time someone raises any issue your stock answer is "stop being pessimistic". Grow up. This isn't the Daily Mail comments section

Regarding there being no proof of EU exit being harmful to the City, presumably you know better than Lloyds of London and the Governor of the Bank of England?

[LMAO]

Trump saying America will offer an immediate trade deal

Y'all can low key become the 51st state tbh. The UK wouldn't be as important as California and arguably Texas, but second/third place ain't too shabby with NYC and London being the two co-super cities.

So London's a super city and top with NYC but UK which contains UK will be second or third place?

No wonder you lot had a choice of Clinton and Trump with that logic

You're going to have to spell it out for me because I don't know what you mean.

Cities =/= states. If the statement were true, then New York state would be the most prestigious state. Yet, New York is third, behind California and Texas.

California, if it were its own country, would have the fifth largest economy in the world, only surpassed by the US (sans California), China, Japan, and Germany. The UK would have the most clout in DC and have the largest population by far, but California would dominate tech (Silicon Valley), entertainment (Hollywood), and agriculture (Central Valley). California would have a slight edge in manufacturing output. Higher education would be roughly equal: Oxford, Cambridge, LSE, Imperial College London, UCL, Edinburgh, and King's College London in the UK, and Stanford, UC Berkeley, Caltech, Claremont McKenna, Pomona, UCLA, and USC in California.

Though, the UK joining us is highly unlikely to happen of course.

Hope you lot manage to get some decent trade deals.

[EliteKiller]

Oh please do me a favour and save the "gloom and doom" ukip bullshit. You're not talking to a Sun reader. Every time someone raises any issue your stock answer is "stop being pessimistic". Grow up. This isn't the Daily Mail comments section

Regarding there being no proof of EU exit being harmful to the City, presumably you know better than Lloyds of London and the Governor of the Bank of England?

They know as much as Father Christmas and the Easter Bunny ... just two days ago the BoE had a change of heart ...

"The head of the Bank of England, Mark Carney, appears to have switched his stance on Brexit. Having been committed to staying in the EU, and repeatedly warning the British public of the risks of leaving, he's now flip-flopped and admitted it does not pose the threat he once thought it might"

[Royal Gooner]

Trump saying America will offer an immediate trade deal

Y'all can low key become the 51st state tbh. The UK wouldn't be as important as California and arguably Texas, but second/third place ain't too shabby with NYC and London being the two co-super cities.

So London's a super city and top with NYC but UK which contains UK will be second or third place?

No wonder you lot had a choice of Clinton and Trump with that logic

Though, the UK joining us is highly unlikely to happen of course.

Hope you lot manage to get some decent trade deals.

We'd never give up The Queen, that's why it would never happen. Likewise the same reason why you wouldn't join the Commonwealth.

[UFGN]

Oh please do me a favour and save the "gloom and doom" ukip bullshit. You're not talking to a Sun reader. Every time someone raises any issue your stock answer is "stop being pessimistic". Grow up. This isn't the Daily Mail comments section

Regarding there being no proof of EU exit being harmful to the City, presumably you know better than Lloyds of London and the Governor of the Bank of England?

They know as much as Father Christmas and the Easter Bunny ... just two days ago the BoE had a change of heart ...

"The head of the Bank of England, Mark Carney, appears to have switched his stance on Brexit. Having been committed to staying in the EU, and repeatedly warning the British public of the risks of leaving, he's now flip-flopped and admitted it does not pose the threat he once thought it might"

(and I don't often use emotes)

That interview, which I'm presuming you're hoping I wouldn't take the time to watch, is THE WORST piece of contrived, agenda driven journalism I've ever seen aside from the Daily Mail. Aside from that he doesn't even say what they say he says. Unbelievable.

Try harder please. I've learned one thing from this exchange and thats that RT are a joke.

[EliteKiller]

[
that interview, which I'm presuming you're hoping I wouldn't take the time to watch, is THE WORST piece of contrived, agenda driven journalism I've ever seen aside from the Daily Mail. Aside from that he doesn't even say what they say he says. Unbelievable.

Try harder please. I've learned one thing from this exchange and thats that RT are a joke.

You're normally better than this (and no I don't read the DM) .... here's the Financial Times recent assessment of the BoE position ....

https://www.ft.com/content/c55a079a-d814-11e6-944b-e7eb37a6aa8e

As you must be aware the BoE have recently increased the UK growth forecasts for 2017 and 2018 .... hardly the gloom and doom scenario you painted earlier ....

Whilst I have no idea if Brexit will ultimately prove positive or negative, nor does anyone else, the prudent course is to wait and see .... peddling disaster scenarios proved false for the BoE, they've recanted .... maybe you should take their lead and just sit on the fence for a while .... it's going to be a fun ride either way ....

[UFGN]

[
that interview, which I'm presuming you're hoping I wouldn't take the time to watch, is THE WORST piece of contrived, agenda driven journalism I've ever seen aside from the Daily Mail. Aside from that he doesn't even say what they say he says. Unbelievable.

Try harder please. I've learned one thing from this exchange and thats that RT are a joke.

You're normally better than this (and no I don't read the DM) .... here's the Financial Times recent assessment of the BoE position ....

https://www.ft.com/content/c55a079a-d814-11e6-944b-e7eb37a6aa8e

As you must be aware the BoE have recently increased the UK growth forecasts for 2017 and 2018 .... hardly the gloom and doom scenario you painted earlier ....

Whilst I have no idea if Brexit will ultimately prove positive or negative, nor does anyone else, the prudent course is to wait and see .... peddling disaster scenarios proved false for the BoE, they've recanted .... maybe you should take their lead and just sit on the fence for a while .... it's going to be a fun ride either way ....

You have a warped sense of fun

I don't know much about financial services but I know a bit.

1) The City's banks and insurance companies pay a huge amount of tax. Income tax, employers NI contributions, business rates, corporation tax and of course the spending power of their well paid staff

2) They didn't want to leave the EU, less still to leave the Common Market. They didn't say that for no reason.

3) That several large financial services companies have European Headquarters here and that those in particular will almost certainly all go.

4) That any duties levied on goods/financial services would see further losses

These are facts.

There are no "yeah buts" left. This is real.

[EliteKiller]

1) The City's banks and insurance companies pay a huge amount of tax. Income tax, employers NI contributions, business rates, corporation tax and of course the spending power of their well paid staff

They aren't going anywhere ... 90% are just UK Incorporated banks with Headquarters elsewhere, maintaining a presence in an independent UK would become more important not less ....

2) They didn't want to leave the EU, less still to leave the Common Market. They didn't say that for no reason.

Who said that? and even if they did suggest they had a preference, that doesn't mean they'd move .... many people didn't want to leave Highbury, but the Emirates is still full every week

3) That several large financial services companies have European Headquarters here and that those in particular will almost certainly all go.

Who? there are only four major banks (capital over 35b) with HQ's in the UK ... well five if you count RBS but they're not in London and not moving anywhere ... of those only HSBC would move and for now even they've ruled it out ....

4) That any duties levied on goods/financial services would see further losses

Why? with lower corporation tax the opposite is more likely .... as 90% of financial operations in London pay the absolute bare minimum tax anyway this is in fact a massive red-herring ....

To explain further ... when alcohol and cigarette tax go up the actual tax take goes down as either fewer people buy them, or the sellers start to use black and grey market products ...

The same applies with tax 'avoidance' when taxes are to high people and companies move heaven and earth to find ways around them, make them more reasonable and people will pay them ...

These are facts. What are? you haven't given any facts just suppositions

There are no "yeah buts" left. This is real .... what does that even mean?

[UFGN]

1) The City's banks and insurance companies pay a huge amount of tax. Income tax, employers NI contributions, business rates, corporation tax and of course the spending power of their well paid staff

They aren't going anywhere ... 90% are just UK Incorporated banks with Headquarters elsewhere, maintaining a presence in an independent UK would become more important not less ....

2) They didn't want to leave the EU, less still to leave the Common Market. They didn't say that for no reason.

Who said that? and even if they did suggest they had a preference, that doesn't mean they'd move .... many people didn't want to leave Highbury, but the Emirates is still full every week

3) That several large financial services companies have European Headquarters here and that those in particular will almost certainly all go.

Who? there are only four major banks (capital over 35b) with HQ's in the UK ... well five if you count RBS but they're not in London and not moving anywhere ... of those only HSBC would move and for now even they've ruled it out ....

4) That any duties levied on goods/financial services would see further losses

Why? with lower corporation tax the opposite is more likely .... as 90% of financial operations in London pay the absolute bare minimum tax anyway this is in fact a massive red-herring ....

To explain further ... when alcohol and cigarette tax go up the actual tax take goes down as either fewer people buy them, or the sellers start to use black and grey market products ...

The same applies with tax 'avoidance' when taxes are to high people and companies move heaven and earth to find ways around them, make them more reasonable and people will pay them ...

These are facts. What are? you haven't given any facts just suppositions

There are no "yeah buts" left. This is real .... what does that even mean?

I'm wasting my time here. If you don't know that the vast majority of the City wanted to remain in the EU / common market, if you think that "only four or five" companies are affected by this, if you don't understand the difference between duties and tax and if you're just going to make up statistics, then I'm wasting my time.

[EliteKiller]

I'm wasting my time here. If you don't know that the vast majority of the City wanted to remain in the EU / common market, if you think that "only four or five" companies are affected by this, if you don't understand the difference between duties and tax and if you're just going to make up statistics, then I'm wasting my time.

If you can't form a cogent argument they yes you are wasting your time ... your just espousing the same tired scare stories that lost the 'remainers' the vote ...

The Brexit vote was 7 month ago ... nobody's left, the tax take has not decreased, the UK's economic forecast has in fact improved ....

Nobody knows if Brexit will be a good or a bad thing .... just making stuff up about 'the vast majority' doesn't cut it ...

it's a fact that there are only 4 'major' banks with headquarters in the London ... http://finance.mapsofworld.com/banks/ only HSBC in the top ten ....

it's a fact that the Bank of England now sees Brexit as having a 'neutral to beneficial impact on the UK economy' ...

it's a fact that office space costs in London have increased since the Brexit vote ... the CBRE forecast for London office rent is +4.4% for 2017 ... is that because everyone's leaving ...

Where are your 'facts' that we're all going to hell in a handbasket?

[Callum]

[DiamondGooner]

[
that interview, which I'm presuming you're hoping I wouldn't take the time to watch, is THE WORST piece of contrived, agenda driven journalism I've ever seen aside from the Daily Mail. Aside from that he doesn't even say what they say he says. Unbelievable.

Try harder please. I've learned one thing from this exchange and thats that RT are a joke.

You're normally better than this (and no I don't read the DM) .... here's the Financial Times recent assessment of the BoE position ....

https://www.ft.com/content/c55a079a-d814-11e6-944b-e7eb37a6aa8e

As you must be aware the BoE have recently increased the UK growth forecasts for 2017 and 2018 .... hardly the gloom and doom scenario you painted earlier ....

Whilst I have no idea if Brexit will ultimately prove positive or negative, nor does anyone else, the prudent course is to wait and see .... peddling disaster scenarios proved false for the BoE, they've recanted .... maybe you should take their lead and just sit on the fence for a while .... it's going to be a fun ride either way ....

I don't know much about financial services but I know a bit.

............ and there it is folks, he know's nothing about Financial services yet he constantly bombards people with ITK style info acting like mystic meg on roids.

Stop talking or having opinions about things you don't know.

[UFGN]

I'm wasting my time here. If you don't know that the vast majority of the City wanted to remain in the EU / common market, if you think that "only four or five" companies are affected by this, if you don't understand the difference between duties and tax and if you're just going to make up statistics, then I'm wasting my time.

If you can't form a cogent argument they yes you are wasting your time ... your just espousing the same tired scare stories that lost the 'remainers' the vote ...

The Brexit vote was 7 month ago ... nobody's left, the tax take has not decreased, the UK's economic forecast has in fact improved ....

Nobody knows if Brexit will be a good or a bad thing .... just making stuff up about 'the vast majority' doesn't cut it ...

it's a fact that there are only 4 'major' banks with headquarters in the London ... http://finance.mapsofworld.com/banks/ only HSBC in the top ten ....

it's a fact that the Bank of England now sees Brexit as having a 'neutral to beneficial impact on the UK economy' ...

it's a fact that office space costs in London have increased since the Brexit vote ... the CBRE forecast for London office rent is +4.4% for 2017 ... is that because everyone's leaving ...

Where are your 'facts' that we're all going to hell in a handbasket?

I thought I made abundantly clear that I wasn't only talking about world headquarters - oh wait, I did

Scare stories.... Please stop this childish nonsense