It’s an entirely intentional deception. People get the fear that they’ll not be able to pass on their 3-bed semi-detached*, a dinner table set and the last dregs of a private pension to their kids, so they vote so that rich people don’t have to redistribute wealth.
Brown coal output 12.2021: 10100 GWh Black coal output 12.2021: 5391 GWh
Of course comparing August 2021 - August 2023 there’s less of a difference, but still a noticeable drop.
Absolutely, a change to CGT may affect the risk-return profile of individual investments and might make some unpalatable. But it wouldn’t slow or stop investing altogether. One thing that has a bigger effect would be how much spare money people have to invest, how much they earn above their costs of living.
People have a financial incentive to invest their money somewhere (stock market, bonds, businesses, property, interest-bearing bank account) because if they don’t, their money devalues. Economically speaking it doesn’t matter so much where, so long as money cycles around the country and doesn’t sit doing nothing - or leave (which is another issue with global investments). A change in CGT would have to be hugely disruptive to change that incentive.
To start with I think we need to stop giving credence to bunkum theories that state that people are free to provide or withhold their services as they see fit. It’s not the case for the majority of people.
Most people cannot afford not to work, they have no choice until they are financially secure enough, which few are. Either that or they physically can’t work, but in most cases they MUST work to pay rent, eat, survive. Even if you’re specialised in any job, when unemployed it’s only a matter of weeks before you need to pick any job, whatever you can get. Raising or lowering income tax will not affect that, only the amount of money you have when employed.
Even if you don’t HAVE to work, the financial incentive is always to work, because it gets you more money, which is the promise of a better time. Changing income tax doesn’t affect that either, just the rate at which you accumulate wealth, but if you don’t have to work at least you have a choice not to.
What affects employment more than income tax? Employment taxes. Because a business finding it cheaper to employ more staff… employs more staff. That financial incentive again, and a completely different set of levers. You can increase income tax and decrease employment tax, or both together, whatever. Independent.
You know what else can take people out of the workforce? Reducing CGT. It allows people to retire earlier or live off their investments. Changes the threshold of where your financial incentive to work balances your body’s ability to can. Whether that’s good or bad depends on your point of view.
On the subject of CGT, again, look at where the financial incentive lies. At what CGT threshold does it become more profitable not to invest in some vehicle, even risk-free-rate bonds, rather than stuffing a mattress? CGT only affects realisation of assets, so with a rate increase you would expect an increase in longer term investments, you might see people delaying retirement. It’s unlikely to affect actual investment, really only the amount of ready cash people have affects that. Lower income tax/higher CGT may actually increase investment in that case (though it’ll probably be mostly invested in other countries through SP500 or global trackers, so maybe not a good thing for the country).
Capital gains tax discourages investment and innovation. Income tax discourages work
Are either of those statements true? Does capital gains tax ACTUALLY discourage investment? Does income tax ACTUALLY discourage work?
Not sure why you need a study to confirm what is literally codified in tax law, but sure.
No, we shouldn’t wait for an organic decline. We need to stop using fossil fuels as quickly as possible. The faster we do it, the more chance we have of moderating the hell that has already been unleashed on future generations.
My point is that the finite nature of fossil fuels isn’t a persuasive argument to stop using them, because the reality is that we have plenty.
Australia already has enough conservatives I think.
Fossil fuels are finite but they’re not in any danger of running out in the near future. They’re not limited enough to use that as a reason to stop using them. Plus there are corn-derived biofuels and so on, which aren’t much better for the environment when burned.
Because there is a difference between 5 years of bad and 5 years of worse, and not actively voting for the bad party will in most cases give a mathematical advantage to the worse party.
Tactically speaking, you can vote for the party you want to win only if you are absolutely certain that a) the tories have such a strong majority there isn’t a chance of anyone else getting in; b) some other party has such a majority there isn’t a chance of the Tories getting in. Otherwise you vote for the non-Tory party (or party that will not ally with the Tories) that is most likely to make it in your area.
I still vote tactically because there have historically been some close results where I live, but I’m sick of voting for parties I don’t want to win. I decided to become a member of the political party that I felt I was in most in line with, despite the fact I rarely vote for them. Small gesture, I know.
Trust and good will for the Lib Dems was destroyed in 2010, when they jumped into a coalition government with the Tories for the tiniest sniff of power, despite their manifesto being closer to Labour’s on paper, backtracking on many of their policies and outright failing on others.
He’s fighting the backlash following his criticism of ULEZ a couple of weeks ago
I wish this bot was available for YouTube videos
Only that the headaches have stopped.
All the more impressive that he’s achieved two different madnesses simultaneously
This is what highly regulated companies like banks, law firms, insurance companies etc. do for all Politically Exposed Persons. It’s not about corporate values, it’s about risk exposure, especially if there’s the possibility of a conflict of interest.
For example, a bank will want to know if there’s a risk of that person being subject to international sanctions due to people they have met or accepted money from, or a risk that a person’s finances may be investigated for fraud, or if someone is suing that person using using the same lawyers the bank uses. They create a report of anything that may be relevant in future and keep it up to date.
The “doesn’t align with our values” is PR for “this guy’s too risky for the amount of money he has”
Their policies have drifted to the right under Starmer but they’re not even close to being the neoliberal extremists that the Conservative Party still are.
Labour are far from ideal right now but it’s wrong to say they’re the same.
Labour gained 811 votes compared to the 2019 election, Conservatives lost over 20,000