Forum Topic

Starmer's Confusion

I already know about Starmer's confusion and inability to explain what a woman is 🤷🏻‍♀️and now I am confused about HIS confusion over 'working people'🤷🏻‍♀️🤷🏻‍♀️This confusing rhetoric from the government must end pdq because much of Reeve's🙍🏻‍♀️budget is centred around this ambiguous group.  Starmer🤓and his stooges need to have an urgent pow-wow in No 10 to sort this out because time is running out for them. 'Former Bank of England governor Mervyn King described Labour's pledge on national insurance, VAT and income tax as 'very unwise'.He also said the debate around not putting up taxes on working people was a 'terrible illusion' and warned putting up employers' national insurance was likely to depress workers' salaries.Lord King told Sky News: 'All this debate about not putting up taxes on working people is a terrible illusion, really.'Taxes are paid by people, they're not paid by companies or institutions, ultimately, they fall on the amount that people can spend.'And you only can raise significant amounts of money by raising taxes on most people, however you care to define that, but it's most people will have to pay higher taxes.And if they, instead of unwinding the cuts in employees' national insurance contributions, put up employers' national insurance contributions, that will make it less likely that companies will exceed to wage demands, they will press down on that, they will probably be less enthusiastic about creating new jobs.'Ultimately, the impact of these higher taxes has to be on the consumption of most people, however you care to define that group.'Lord King also warned that Ms Reeves' expected Budget plans could have an impact on interest rates.The Chancellor is set to rewrite the Government's fiscal rules to allow her to increase borrowing for public investment by around £50billion.Asked if he thinks the expected plans may have an impact on interest rates, particularly mortgage rates now, Lord King said: 'It could do, it could do.'https://mol.im/a/14007537

Sue Hammond ● 60d13 Comments

Sorry Ivonne I didn't compute your post properly.because I wrongly assumed it was a drawing depicting one of the 'working people' that Labour cannot identity, hence the person appears to be invisible. A rather obtuse analogy I admit!

Sue Hammond ● 58d

Sue, I obviously didn't explain that well. My point was I think Mr King's ideas may be out of date soon. In the past automation has, in the main, been responsible for eradicating the lower paid manual and factory jobs so significant tax has still been paid by middle management, knowledge workers and those in senior positions. However, if AI takes over knowledge working and middle management positions and well as more routine service management ones many tax paying positions may be eradicated - it's already being used in health care to screen scans, financial institutions are using it for handling basic queries plus looking for anomalies to find fraudulent and money laundering transactions, many cheap restaurants use self service kiosks, etc ... and I heard the Today programme Michael Parkinson's been resurrected to do new interviews! So tax will presumably have to be charged on the wealth generated by companies from the effective use of Machine Learning and Artifical Intelligence. Perhaps Ms Reeves is ahead of the game on changes likely to happen in the next decade? So I wasn't looking to go too far "off piste" just trying to broaden the outlook of the Forum and inject some new thinking to counteract all the negativity. IT isn't really that relevant, it's just an enabler for AI which is really a business and societal issue.

Michael Ixer ● 58d

Invisible worker?  Really?

Ivonne Holliday ● 58d

The Reform party had a few good policies for growth.Their online tax seemed sensible.You would think being in opposition for so long that they would have policies ready. Everything seems half baked.It seems as some suspected that this is Labour 2010 over again. If the UK had anything left to sell it will be for sale in the next few months.

Ed Robinson ● 58d

Back on topic.Clearly working people don’t get buses outside of a City as the maximum fare has been lifted.  Two weeks ago Wes Streeting was saying the NHS didn’t need more money just restructuring but today he now needs yet more funds to fix our always failing NHS.  Employers both small and large will be getting ready to offload staff, cut hours as they just won’t be able to afford them.  So far it’s the Government for the public sector not for growth as promised.Basic economics - you need an income to afford to pay staff, go out for a meal or even buy anything.  This budget is for growth however my wife has come home having stocked up on gin and wine, l am just pleased we don’t smoke.Let’s see what the City actually make of this in the months to come never mind the poor electorate.

Robert Wheeler ● 58d

Yet another on-topic thread taken off-piste.  To start the process Michael Ixer jumped in with his usual tenuous IT/AI This comments, swiftly followed by Ivonne who managed to find an image with an 'invisible' worker, and finally Philippa who posted yet another bloody link without any comments at all! 🙄

Sue Hammond ● 58d

Philippa join the discussion and use links as your source.  Don’t just put links.

Robert Wheeler ● 58d

https://patrioticmillionaires.uk/latest-news/zucman-proposal-for-global-coordinated-minimum-tax

Philippa Bond ● 58d

Youngsters, should be enthusiastic about trying to get a job, not having obstacles in their way. It must be hard enough as it is for people to get jobs. It may suit some not working, but most people with a brain want to work.

Barbara Stevens ● 60d

"Who's paying all the jobless people."Perhaps AI will, if we program it to.

David Ainsworth ● 60d

Who's paying all the jobless people.

Barbara Stevens ● 60d

AI frightens me no end.  If it is true that AI will "replace the work force" (dread the thought) then this street art is very applicable!!!  It is urban art from an artist called Kevin Lee, "The Invisibility of Poverty".

Ivonne Holliday ● 60d

If Mr Musk is correct and AI is going to reduce the number of jobs available then it might be sensible to shift the emphasis on taxation from employees to companies. The reduction in employment opportunities my mean fewer individuals paying income tax and NI - and possibly less VAT if they're unemployed - while companies will make higher profits with fewer employees thus being in a position to pay more NI and corporation tax. Just looking for "what ifs" over the next decade or two ...

Michael Ixer ● 60d