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Can you run the economy?

ChizzChizz
edited October 23 in Not Sports Related
You're the Chancellor.  And, at the end of the month, you have to set the Budget.  Good luck..! 

Click here 

(Usual caveats: this is a bit of fun; don't make any political comments; it's just a bit of fun; it's not intended to stimulate political debate - even among the vegans; it's only a bit of fun).  
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Comments

  • cantersaddickcantersaddick
    That was fun, enjoyed playing around with it, lacked a little detail in some areas but not a bad little gimmick!
  • charltonkestoncharltonkeston
    It didn't have the "we'll print more money button" I was counting on. Or have some of these bonds box.

    I put up income tax by a penny in the pound and NI got a rise.
    Corporation tax went up as did inheritance and told the non-doms to do one.
    I did away with the triple lock and WFA, (thought I'd give nature and the NHS a hand)
    Stamp duty got wound back to not help FTBs but even with it house price still rose so swallowed the benefit.
    2 child cap to stay and no free meals, Mine I have grown up so sod the rest of you
    I spent heavily on Health, education and defence. I thought this was where budgets should start from.
    No give aways at the end. Buy your own presents.

    And I trashed the economy. But I'm as qualified as few chancellors have been in recent years, absolutely zero, .



  • AndyGAndyG
    seth plum said:
    Tax everybody 100% on all income over £100,000 and nationalise all private land and property.
    predictable as ever mate lol
  • RothkoRothko
    edited October 17
    I cut welfare, binned the triple lock and raised all non personal taxes, didn't cut departments funding to the bone and cranked up investment, managed to balance the books, so all good 
  • golfaddickgolfaddick
    I broke the election promises but as I didnt put them in place I dont care.

    I also binned the triple lock but my "rabbit out of the hat" was free school meals. 
  • Hal1xHal1x
    it appears I can!
  • SporadicAddickSporadicAddick
    edited October 17
    Chizz said:
    You're the Chancellor.  And, at the end of the month, you have to set the Budget.  Good luck..! 

    Click here 

    (Usual caveats: this is a bit of fun; don't make any political comments; it's just a bit of fun; it's not intended to stimulate political debate - even among the vegans; it's only a bit of fun).  
    best of luck...

    Edit. bad luck.
  • Rob7LeeRob7Lee
    Bit of fun, balanced the books and have reduced debt and budget deficit, easy this.
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  • WheresmeticketWheresmeticket
    Chizz said:
    You're the Chancellor.  And, at the end of the month, you have to set the Budget.  Good luck..! 

    Click here 

    (Usual caveats: this is a bit of fun; don't make any political comments; it's just a bit of fun; it's not intended to stimulate political debate - even among the vegans; it's only a bit of fun).  
    You just broke your own "don't make any political comments" caveat so the rest don't count either.
  • GisappointedGisappointed
    edited October 17
    Triple lock must be maintained until UK's appallingly low pensions reach level of other G7 economies.

    I pay tax on my state pension, if non-Doms don't wish to contribute on their millions/billions, I'll drive them to the airport.

    Lets not forget the Tories nearly trebled national debt over 14 years whilst absolutely slashing services.

    The freeze on tax allowances until 2028 alone should have led them into the political wilderness, but Labour have no plans to reinstate upgrades.

    Revise council tax to have mansions pay their due. I pay band C for a one bedroom flat on the edge of the M25.

  • RothkoRothko
    The triple lock is the biggest welfare grab ever 
  • SELR_addicksSELR_addicks
    Rothko said:
    The triple lock is the biggest welfare grab ever 
    Biggest voting block in the country so will never be removed. 
  • AlwaysneilAlwaysneil
    Sort out care provision for the elderly you can put the triple lock straight in the bin
  • ME14addickME14addick
    Why shouldn't pensions go up by the same rate as earnings? The state pension isn't huge, yet someone on £50k with a salary increase of 4.1% will have a much bigger actual increase in their income, than someone on the state pension.
  • SantaClausSantaClaus
    Gisappointed said:
    Triple lock needn't be forever but out pensions are so much lower than other wealthy countries. We are playing catch up.

    There are many tricks Reeves is missing in taxing the wealthy, mainly on multiple homes and exporting wealth to tax havens. I wonder if there is a system in place for taxing Airbnb leasees.
    We're not a wealthy country on a per capita basis. It's time we stopped pretending we are.
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  • Off_itOff_it
    Here we go ......
  • killerandflashkillerandflash
    Really tough.

    The wildcard tax grab I'd do is introduce a lower rate of CGT on the sale of FIRST residences above a certain limit. Why should gains through the rise in house prices be treated differently from second homes or shares?
  • HuskarisHuskaris
    I'd abolish stamp duty on PRIMARY properties altogether, after all, we aren't at war with France anymore. I would rather a wealth tax on properties over a transaction tax. For example if a £1m property should attract stamp duty of £41,250, I would rather pay an extra £800 a year (meaning I pay £41k over 50 years), rather than a massive whack when I move. Whatever it takes to make the tax revenue loss from stamp duty balance out.

    Selfishly, I actually want to upgrade my home as often as I can and stamp duty is the biggest blocker to that and it's infuriating!
  • HuskarisHuskaris
    killerandflash said:
    Really tough.

    The wildcard tax grab I'd do is introduce a lower rate of CGT on the sale of FIRST residences above a certain limit. Why should gains through the rise in house prices be treated differently from second homes or shares?
    I suppose you could think of your primary home as being in the equivalent of an ISA. CGT on sale of first residences AND stamp duty would destroy liquidity in the market in my opinion. Old codgers would never downsize.
  • bobmunrobobmunro
    edited October 18
    ME14addick said:
    Why shouldn't pensions go up by the same rate as earnings? The state pension isn't huge, yet someone on £50k with a salary increase of 4.1% will have a much bigger actual increase in their income, than someone on the state pension.

    Why should they? By the way - average wage growth in 2009 was -2.9%! (I guarantee the median wage growth was a larger negative). State Pension is not a wage for doing a job, it is a state benefit linked to the individual's NI record.

    The state pension is way too low - most people would agree with that. The solution isn't the triple lock (especially including wage growth), it should be raised substantially and then inflationary increases applied.
  • SantaClausSantaClaus
    seth plum said:
    Tax everybody 100% on all income over £100,000 and nationalise all private land and property.
    Execute the kulaks and the intelligentsia. Purge the country of all dissent.
  • DaveMehmetDaveMehmet
    AFKABartram said:
    Run the economy?  

    I can’t even curtail my wife online shopping for more than about 3 hours 
    Can't reach the table to turn her laptop off mate?
  • Todds_right_hookTodds_right_hook
    killerandflash said:
    Huskaris said:
    killerandflash said:
    Really tough.

    The wildcard tax grab I'd do is introduce a lower rate of CGT on the sale of FIRST residences above a certain limit. Why should gains through the rise in house prices be treated differently from second homes or shares?
    I suppose you could think of your primary home as being in the equivalent of an ISA. CGT on sale of first residences AND stamp duty would destroy liquidity in the market in my opinion. Old codgers would never downsize.
    Houses should be for living in, not a financial investment. Our taxation system encourages people to buy the most expensive house they can afford, as it's tax free gain if it goes up. 

    If someone has a £500k house which rises to £1.3m when they sell it, why shouldn't a percentage of that gain be taxable?
    Why shouldn’t it be? It’s a family home, not a business. 
This discussion has been closed.

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