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    We should sell off old industrial cities to China!! they know how to bring GDP growth!
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    (Original post by illegaltobepoor)
    The Tories, the Murdoch Media and all the FTSE100 Ceo's would have you believe that the problem is welfare. The reason why the bang on about welfare 247 is because less public spending means less taxes for big business. Corporation Tax has been reduced from 28% in 2010 to 18% as of George Osborne's Budget 2015.

    Every Tax Year FTSE100 companies make 47.6 billion collectively together in profit. If you want to know where low earners Tax Credits money went then you only need to do a minor math calculation.

    47.6 / 100 * 10. = 4.76 billion. That is the 10% of tax revenue which George Osborne handed back to FTSE 100 corporations in tax cuts. The Tax Credit cuts are worth 4.4 billion.

    Here is my source:
    http://www.portfolio-adviser.com/new...rkets-struggle

    "FTSE 100 companies saw pre tax profits fall by 36.7% to a five year low of £11.9 billion last quarter".

    So these CEO's are going to whine to the Tories & Murdoch. After Tax Credits have been cut they'll move onto making more cuts to other parts of social security benefits.

    Nothing like a cry baby capitalist.
    Corporation tax is 20%, not 18%.
    Multiplying one selected quarter of profits to get the annual profit is dubious to say the least. What is their actual annual profit? How much was it when the corporation tax rate was 28%?
    The trend is that total corporation tax receipts continue to rise under the government. That is the aim of the game- to maximise revenue. A competitive tax regime is a sensible long term strategy. You're the type of silly lefty that still cries foul about the 5% cut in the top rate of income tax (never mind it came on the back of a 10% increase) even though the rich pay the largest nominal amount and largest share of income tax under George Osborne than even before in history.
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    (Original post by Bill_Gates)
    We should sell off old industrial cities to China!! they know how to bring GDP growth!
    The reason why China does well is because it has a huge amount of land which it can grow food on and the Communist party understand that the working class need cheap housing, food and energy to be productive.

    China has done exactly that.

    Workers have factory housing.
    Food is extremely cheap.
    Energy is plentiful.

    But there is a cost to all this. It ain't sustainable. The same smog epidemic that happened in London during the Victorian times has happened to China's main cities.

    To be fair us Brits are better off at focusing on advanced engineering and let China do all the dirty work.
    For example Arm Industries in Cambridge literally built the CPU for the I Phone.

    What we should do is train our Engineers at home and teach them to be able to create designs which can be sent to any factory in the world and then 3-10 days later a order comes in the mail which is the finished product.

    This isn't exactly putting into practice ethical manufacturing but the Chinese need to learn the hard way that messing their environment up has long term consequences.
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    (Original post by illegaltobepoor)
    The reason why China does well is because it has a huge amount of land which it can grow food on and the Communist party understand that the working class need cheap housing, food and energy to be productive.

    China has done exactly that.

    Workers have factory housing.
    Food is extremely cheap.
    Energy is plentiful.

    But there is a cost to all this. It ain't sustainable. The same smog epidemic that happened in London during the Victorian times has happened to China's main cities.

    To be fair us Brits are better off at focusing on advanced engineering and let China do all the dirty work.
    For example Arm Industries in Cambridge literally built the CPU for the I Phone.

    What we should do is train our Engineers at home and teach them to be able to create designs which can be sent to any factory in the world and then 3-10 days later a order comes in the mail which is the finished product.

    This isn't exactly putting into practice ethical manufacturing but the Chinese need to learn the hard way that messing their environment up has long term consequences.
    Utter rubbish.

    China has grown because it was under developed to begin with and trades with external trade partners.
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    (Original post by Bornblue)
    So please tell me in specific detail how a Labour win would have slowed down growth by more. No general comments please.
    construction is down by 0.5%. The mansion tax would definitely slow down construction as the prices of homes would go down as flats/homes worth 2m would be taxed. This would slow the construction industry.
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    (Original post by balanced)
    construction is down by 0.5%. The mansion tax would definitely slow down construction as the prices of homes would go down as flats/homes worth 2m would be taxed. This would slow the construction industry.
    If Labour got their way, they would boost construction with a people's QE to build unnecessary roads!
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    (Original post by balanced)
    construction is down by 0.5%. The mansion tax would definitely slow down construction as the prices of homes would go down as flats/homes worth 2m would be taxed. This would slow the construction industry.
    Evidence?
    A mansion tax worth £3000 on a house worth 2 million is not going to put people off.
    I can't think of many, if any whose perfectly willingly pay 2 million but not 2 million +£3000.
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    (Original post by Bupdeeboowah)
    If Labour got their way, they would boost construction with a people's QE to build unnecessary roads!
    face palm. We were talking about if labour won the ge (that's not Corbyn remember!!!)
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    (Original post by Bornblue)
    Evidence?
    A mansion tax worth £3000 on a house worth 2 million is not going to put people off.
    I can't think of many, if any whose perfectly willingly pay 2 million but not 2 million +£3000.
    I can, my cousin wouldn't, as it's his job doing up houses to sell and he finds living costs hard, as they are in London. A lot of people who own a 2m flat would find it hard.
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    (Original post by balanced)
    I can, my cousin wouldn't, as it's his job doing up houses to sell and he finds living costs hard, as they are in London. A lot of people who own a 2m flat would find it hard.
    This is anecdotal rather than factual evidence.
    If you have 2 million, I find it very unlikely you're not going to have 3000 and there is zero evidence construction would have slowed.
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    (Original post by balanced)
    I can, my cousin wouldn't, as it's his job doing up houses to sell and he finds living costs hard, as they are in London. A lot of people who own a 2m flat would find it hard.
    I like the idea of taxing wealth over income but it would be better to only have it apply on properties with an acre of land rather than tax people in the city.
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    (Original post by illegaltobepoor)
    The reason why China does well is because it has a huge amount of land which it can grow food on and the Communist party understand that the working class need cheap housing, food and energy to be productive.

    China has done exactly that.

    Workers have factory housing.
    Food is extremely cheap.
    Energy is plentiful.

    But there is a cost to all this. It ain't sustainable. The same smog epidemic that happened in London during the Victorian times has happened to China's main cities.

    To be fair us Brits are better off at focusing on advanced engineering and let China do all the dirty work.
    For example Arm Industries in Cambridge literally built the CPU for the I Phone.

    What we should do is train our Engineers at home and teach them to be able to create designs which can be sent to any factory in the world and then 3-10 days later a order comes in the mail which is the finished product.

    This isn't exactly putting into practice ethical manufacturing but the Chinese need to learn the hard way that messing their environment up has long term consequences.
    Won't be long before China is producing better engineers than us, they have flooded our universities and have some great ones in China. It's the same for tech and India they are fast catching up. Hence why firms are moving over there we are yet to see a MAJOR shift in R&D to emerging economies but some industries have most notably Pharma.

    So will be left with no raw industries, no manufacturing, no high value added jobs but will just be providing each other with a service. Haircut anyone? Our trade balance will just grow wider and wider!
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    (Original post by Bill_Gates)
    Won't be long before China is producing better engineers than us, they have flooded our universities and have some great ones in China. It's the same for tech and India they are fast catching up. Hence why firms are moving over there we are yet to see a MAJOR shift in R&D to emerging economies but some industries have most notably Pharma.

    So will be left with no raw industries, no manufacturing, no high value added jobs but will just be providing each other with a service. Haircut anyone? Our trade balance will just grow wider and wider!
    This was largely inevitable with the victory of capitalism over planned economies. What we need to do is fight on quality and focus on niche industries. The space sector for example while largely dominated by the US and China will see the UK take a 10% global market share (and ours is the most profitable by far) with 100,000 skilled jobs.

    Not all industries move to where its cheapest.
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    (Original post by Bill_Gates)
    Won't be long before China is producing better engineers than us, they have flooded our universities and have some great ones in China. It's the same for tech and India they are fast catching up. Hence why firms are moving over there we are yet to see a MAJOR shift in R&D to emerging economies but some industries have most notably Pharma.

    So will be left with no raw industries, no manufacturing, no high value added jobs but will just be providing each other with a service. Haircut anyone? Our trade balance will just grow wider and wider!
    And yet year on year manufacturing output shows a general upward trend.

    Here's a good article for you to have a read.

    http://www.economist.com/news/specia...ng-back-united
 
 
 
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