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What would you do if you were UK Chancellor? watch

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    (Original post by Neville 'Facking' Bartos)
    Where to?



    Nope, its just the UK (and a few others) riding the recession train from the OECD
    ________

    and lol, post 37 was a good laugh :lol:
    Sorry Neville, I'm just pullin your leg mate.

    If I was really Chancellor, I'd be marching into the City on bonus day and say "fellas, I hear you wanna give me some cash, it's just the mail I'm gettin"

    They'd have about as long as it took them to walk from their trading terminals to the front door, to produce some cash RIGHT NOW......
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    (Original post by PJ991)
    However, I think banks with large public finances in them like RBS and Lloyds should be more regulated than ones that didn't take money like HSBC. This will please the ever popular man known in the media as 'The Tax Payer'. I don't even know who this person is.
    HSBC didn't even take advantage of the lower regulation environment at the time, so how would it be an advantage? To try and lull them into pushing the water?
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    (Original post by Quady)
    HSBC didn't even take advantage of the lower regulation environment at the time, so how would it be an advantage? To try and lull them into pushing the water?
    wtf?
    HSBC didn't take/need money from the Government like Lloyds Banking Group, Northern Rock, Bradford and Bingley and RBS etc. did.

    Therefore in my opinion, the likes of HSBC (maybe Barclays too although I'm not certain if they needed money from UK Government, but I remember Abu Dhabi may have been involved) should be a less-regulated business in comparison to cheer up 'the tax payer'.
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    (Original post by PJ991)
    wtf?
    HSBC didn't take/need money from the Government like Lloyds Banking Group, Northern Rock, Bradford and Bingley and RBS etc. did.

    Therefore in my opinion, the likes of HSBC (maybe Barclays too although I'm not certain if they needed money from UK Government, but I remember Abu Dhabi may have been involved) should be a less-regulated business in comparison to cheer up 'the tax payer'.
    Lloyds were fine, it was a silly mistake to take on HBOS
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    (Original post by PJ991)
    wtf?
    HSBC didn't take/need money from the Government like Lloyds Banking Group, Northern Rock, Bradford and Bingley and RBS etc. did.

    Therefore in my opinion, the likes of HSBC (maybe Barclays too although I'm not certain if they needed money from UK Government, but I remember Abu Dhabi may have been involved) should be a less-regulated business in comparison to cheer up 'the tax payer'.
    I didn't say they did

    I said they didn't have a crap business model, even though they were being pushed by activist investors to increase their leverage. I was asking how deregulation for HSBC would help them since they didn't really test the limits of the regulatory environment even at the height of the bubble, let alone now.

    Yeah Barclays and HSBC raised capital from the market rather than having to resort to the UK Govt.
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    Probably just chill at Number 11, cut a few QUANGOs.

    It's all good.
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    (Original post by Quady)
    I didn't say they did

    I said they didn't have a crap business model, even though they were being pushed by activist investors to increase their leverage. I was asking how deregulation for HSBC would help them since they didn't really test the limits of the regulatory environment even at the height of the bubble, let alone now.

    Yeah Barclays and HSBC raised capital from the market rather than having to resort to the UK Govt.
    I don't mean deregulate more. What I meant was, don't regulate more in terms of taxing bonuses or whatever else the media seem to want to do.

    So I was agreeing with MagicNMedicine after he said taxes on bonuses should be cut.

    I think I confused the matter by mentioning regulation.

    (Original post by Neville 'Facking' Bartos)
    Lloyds were fine, it was a silly mistake to take on HBOS
    They had a lot of bad assets though. In the hundreds of billions. They might not have needed Government money, but they weren't in good shape. Obviously the HBOS merger didn't help.
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    increase tax on cigarettes by 5%
    ensure supermarkets have a minimum alcohol price
    Increase student loan+ increase interest on student loan
    Get rid of tax havens inside UK
    cut down on money available to social security and use the saved money to invest in better education
    Tax people on disposable income rather than net income( this can be worked out by taking away gross pay - bills (depending on their circumstances)
    Increase VAT to 18%
    Increase taxes on petrol
    Partly subsidise healthy food
    introduce special tax on banks bailed out by the government until 125% of what was invested is recovered( this will also include any shares sold, overpayment doesn't mean any compensation for banks)
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    (Original post by PJ991)
    I don't mean deregulate more. What I meant was, don't regulate more in terms of taxing bonuses or whatever else the media seem to want to do.

    So I was agreeing with MagicNMedicine after he said taxes on bonuses should be cut.

    I think I confused the matter by mentioning regulation.
    Ahhhh right I get ya. Thats different.
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    (Original post by tucker672)
    Leave the EU and join EFTA.

    Cuts in the NHS.

    Huge investment in oil drilling of the Falkland islands.

    Replace benefits with a national income guarantee scheme.

    Stop investing in nuclear technology.

    Flat tax.
    NHS doesn't need cuts IMO they should probably make some cuts and use the money to invest in better research etc

    Flat tax would be unfair and political suicide
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    (Original post by loki276)
    Tax people on disposable income rather than net income( this can be worked out by taking away gross pay - bills (depending on their circumstances)
    Disposable income is income after tax and NI is paid. Not after bills and mortgages are paid.

    People choose to spend as much as they do on gas, electricity and rent/mortgages.

    If they choose to spend more, perhaps to have a more comfortable life, why should they be 'rewarded' almost, for spending more on their house or whatever by having lower taxes?

    That's a ridiculous idea.
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    (Original post by loki276)
    increase tax on cigarettes by 5%
    ensure supermarkets have a minimum alcohol price
    Increase student loan+ increase interest on student loan
    Get rid of tax havens inside UK
    cut down on money available to social security and use the saved money to invest in better education
    Tax people on disposable income rather than net income( this can be worked out by taking away gross pay - bills (depending on their circumstances)
    Increase VAT to 18%
    Increase taxes on petrol
    Partly subsidise healthy food
    introduce special tax on banks bailed out by the government until 125% of what was invested is recovered( this will also include any shares sold, overpayment doesn't mean any compensation for banks)
    "Lollapallooza".
    Oh dear.
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    (Original post by BetterThanHeaven)
    "Lollapallooza".
    Oh dear.
    what?
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    (Original post by PJ991)
    Disposable income is income after tax and NI is paid. Not after bills and mortgages are paid.

    People choose to spend as much as they do on gas, electricity and rent/mortgages.

    If they choose to spend more, perhaps to have a more comfortable life, why should they be 'rewarded' almost, for spending more on their house or whatever by having lower taxes?

    That's a ridiculous idea.
    no I mean not on luxury item but rather needs e.g average mortgage bills etc
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    (Original post by loki276)
    what?
    So you think the best way to redeem the impending British debt crisis is to tax it till kingdom come?

    Cutting spending is far more efficient on so many levels than taxation.

    Oh and "tax the bankers" - yes, that's right. Let's kick Finance from the UK, because in the past decade they'ved done nothing for this country...
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    (Original post by BetterThanHeaven)
    So you think the best way to redeem the impending British debt crisis is to tax it till kingdom come?

    Cutting spending is far more efficient on so many levels than taxation.

    Oh and "tax the bankers" - yes, that's right. Let's kick Finance from the UK, because in the past decade they'ved done nothing for this country...
    not tax the bankers, only those who needed a bailout and only until the money invested within them has been received, this would used instead of debt repayments
    Also I do know that it was finance that helped UK in the boom hell I want to go in to finance myslef
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    Burn old people for fuel.
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    (Original post by loki276)
    no I mean not on luxury item but rather needs e.g average mortgage bills etc
    Define need from want.

    You then want to drastically lower the living standards of an entire country by taxing them to purchase a vast proportion of their consumption.
    You then want to drastically lower UK employment as workers begin to bargain for higher real wages having seen them slashed with this "luxury tax".
    You then want the UK to be less competitive in international markets, because firms have to accommodate for higher wages while retaining a fixed mark-up on goods.

    Jesus.
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    (Original post by loki276)
    not tax the bankers, only those who needed a bailout and only until the money invested within them has been received, this would used instead of debt repayments
    Also I do know that it was finance that helped UK in the boom hell I want to go in to finance myslef
    Give up now. Please.
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    (Original post by loki276)
    no I mean not on luxury item but rather needs e.g average mortgage bills etc
    That system would fail. It would cost loads to implement.

    This would open loopholes I'm sure whereby richer people would buy cheaper homes, and keep more expensive ones on the sly to save on tax payments.

    Who judges if a house is a luxury? The average mortgage for someone on £20k a year will be a lot different than someone on £80k, and then what happens when people have paid off a mortgage? Just walk around tax-free?

    PAYE and NI are fine as they are. This idea is retarded.
 
 
 
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